30 December 2014

 Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO; JSE AltX: KBO) the Tanzania focused mineral exploration and development company, is pleased to provide Shareholders with a summary of company operational activities during the final quarter of 2014.

QUARTER HIGHLIGHTS AND CEO COMMENTS:

• Completion of Concept Study Report (Stage 1, Phase 1 of the Definitive Mining Feasibility Study) for the Rukwa Mineral Resource;
• Completion of Power Pre-Feasibility Report for the Rukwa power plant;
• Completion of Preliminary Economic Assessment for the Imweru Gold Project; and
• Signing of Memorandum of Understanding for 50/50 joint venture on the Pinewood Uranium Project with Metal Tiger Plc ("Metal Tiger").

Louis Coetzee, C.E.O. of Kibo commented:

"We are delighted to report extensive business progress during the final quarter of 2014, a quarter where we have started to demonstrate to the market the value of the projects within the Company's portfolio, as supported by independent Competent Persons' Reports. 

For our Rukwa Coal to Power project (RCPP) we have seen professional reports delivered on both our coal mining and power generation components.  The study work undertaken to date has provided attractive indicative valuations, based on conservative assumptions, for both the mine and power generation projects. We believe that, with continuing technical progress, the indicative valuation of the projects should increase considerably as the feasibility work continues.  Discussions with numerous potential partners are underway and we look forward to updating the market with further details when they become available.  Kibo's management team are seeking to deliver the very best outcome for the Company and shareholders by securing the best available terms and selecting the strongest possible partners for the RCPP.

Whilst the RCPP has been the primary focus of the Company this year, we should not lose sight of the breadth and depth of the Kibo business and its assets.  We have received the Preliminary Economic Assessment for our Imweru Gold Project, and we are spending time to review this positive report, before reporting in detail to shareholders.  This has taken a little longer due to the work being undertaken on the RCPP given the magnitude of developments in that regard.

At the same time our highly prospective nickel, gold, PGMs, lithium and tantalum/niobium asset at Haneti is being progressed with important geochemical interpretation work underway and nearing completion. Discussions with regard to potential new project partners are also ongoing. Further progress has been achieved at our Pinewood Uranium Project through our proposed Joint Venture with Metal Tiger plc whilst making progress in the search for a partner for the Morogoro Gold Project, where we have highly prospective gold licences.

At the close of 2014 we have a considerable business, diversified by commodity and stage of exploration or development cycle.  We have demonstrable value for our assets supported through independent CPRs and substantial partner interest across our portfolio.  It has been a good year but the Company believes there are far greater value generation possibilities ahead and we as a team are highly enthused to continue our work, with regular and material news flow from the start of 2015."

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