01 July 2015

Kibo Mining Plc ("Kibo" or the "Company") (AIM:KIBO; JSE AltX: KBO), the Tanzania focused mineral exploration and development company, is pleased to announce an operational update to outline the current status of company activities and the extent of progress made to build the value of the Company's assets for shareholders.

Quarter Highlights and CEO Comments

Kibo Mining has entered into a dynamic phase in its development with material progress being made across the asset portfolio. Highlights of this development progress in the second quarter of 2015 include:

• Signing of the Joint Development Agreement ("JDA") between Kibo and SEPCOIII, enabling the Mbeya Coal to Power Project ("MCPP") to be taken to the next level of development;
• MCPP (Mining): Definitive Mining Studies confirmed the extremely robust and feasible nature of the Rukwa Coal Mine, with the Pre-feasibility Study one month from completion;
• The MCPP (Power) development, bolstered by the signed JDA, has progressed greatly in terms of partner participation and advanced planning;
• The MCPP is fast approaching financial close, and significant time has been spent on negotiation and planning in this regard;
• Work on the Imweru project pre-feasibility study has commenced;
• The Haneti project exploration objectives for 2015, after analysis of the latest high resolution aerial geophysical data, were confirmed and the proposed drill programme is ready for deployment. It is planned to implement the programme immediately after the imminent Rukwa Geotechnical Drill Programme;
• The two joint venture programmes (Morogoro and Pinewood) have commenced with the Morogoro exploration programme. A Morogoro soil sample batch that was in storage was submitted for laboratory analysiss for which results are awaited. A review and update of the current Pinewood Project technical reports is in progress for further field work.
• Operational expenses for the reporting period remained within approved budget with no over- expenditure;
• Financings undertaken in the quarter provided a solid underlying cash position within the company, covering operational expenditure for the medium term;
• Negotiations with third parties to participate in or acquire various assets held by the Company continued. Successfully concluding such negotiations will bolster and/or protect the Company's underlying cash position and further increase investor confidence in Company projects.

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