Amara Mining Regulatory News (AMA)

23 January 2014 AIM:AMA

Amara Mining plc

("Amara" or "the Company")

FILING OF TECHNICAL REPORT FOR SIX MILLION OUNCE MINERAL RESOURCE AT

YAOURE GOLD PROJECT

Amara Mining plc, the AIM-listed West African focused gold mining company, is pleased to announce that a National Instrument 43-101-compliant technical report entitled 'Yaoure Gold Project, Côte d'Ivoire, Technical Report and Mineral Resource Estimates', dated 22 January 2014, was filed on SEDAR yesterday. This follows the news release regarding the Mineral Resource update for Amara's Yaoure Gold Project ("Yaoure") in Côte d'Ivoire dated 13 December 2013.

A copy of the technical report may be obtained via www.sedar.com and on Amara's website at http://www.amaramining.com/Investor-Relations/NI43-101-Reports. A copy of the news release may also be obtained via SEDAR and on Amara's website.

The previously announced highlights of the Yaoure Mineral Resource update are as follows:

HIGHLIGHTS

· Inferred Mineral Resource of 5.5 million ounces (133Mt at 1.29g/t) representing an increase of 3.3 million ounces 1,2

· Indicated Mineral Resource of 0.8 million ounces (20Mt at 1.20g/t) representing an increase of 0.3 million ounces1, 3

· Mineral Resource remains robust at a lower gold price and includes 0.4 million ounces of oxide material (9.4Mt at 1.33g/t) potentially amenable to low cost heap leach processing 1

· 71% increase in Amara's global Mineral Resources to 3.7 million ounces Measured and Indicated and 6.4 million ounces Inferred

· Minimal discovery cost of US$3.50/oz4 versus average industry discovery cost in Africa of US$16/oz 5

· Metallurgical testwork has confirmed the simple, non-refractory nature of the gold mineralisation and its amenability to a range of processing options - results received in Q3 2013 also demonstrate robust recoveries for low grade samples

· Location of Yaoure is highly advantageous due to close proximity to Kossou dam, which offers cheap hydro-electric power ("HEP") and abundant water, excellent roads and accommodation

· Preliminary Economic Assessment ("PEA") is anticipated to be completed in Q1 2014, focused on a large scale, long life carbon-in-leach ("CIL") or flotation scenario and a short-term heap leach opportunity

Notes

1. Using a 0.5g/t cut-off and a US$1,500 pit shell. At a 0.8g/t cut-off, the Yaoure Mineral Resource contains 0.6 million ounces Indicated (13.2Mt at 1.48g/t) and 4.6 million ounces Inferred (85.7Mt at 1.65g/t)

2. Previously 2.2 million ounces Inferred using a 0.5g/t cut-off or 1.7 million ounces Inferred at a 0.8g/t cut-off

3. Previously 0.5 million ounces Indicated using a 0.5g/t cut-off or 0.3 million ounces Indicated at a 0.8g/t cut-off

4. Based on total Yaoure exploration expenditure of US$22m between Q4 2011 and H1 2013 (2011: US$1.6m, 2012: US$14.0m, 2013: US$6.4m)

5. Source: MinEx Consulting, July 2012

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About Amara Mining plc

Amara is a gold developer-producer with assets in West Africa. The Company generates cash flow through its Kalsaka/Sega gold mine in Burkina Faso. Amara remains focused on its objective of becoming a mid-tier producer through the development of its Baomahun project in Sierra Leone and its Yaoure project in Côte d'Ivoire. With its experience of bringing new mines into production and a project pipeline spanning four countries, Amara aims to further increase its production profile with highly prospective opportunities across all assets.

This report includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation.

All statements other than statements of historical fact included in this announcement, including, without limitation, the positioning of the Company for future success, statements regarding exploration, drilling results, resource calculations and potential future production at Yaoure, and future capital plans and objectives of Amara, are forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Amara's expectations include, among others, the Company's ability to delineate sufficient sulphide resources for the development of a CIL/CIP operation, risks related to international operations, the actual results of current exploration and drilling activities, changes in project parameters as plans continue to be refined as well as future price of gold. Although Amara has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Amara does not undertake to update any forward-looking statements that are included herein, except in accordance with applicable securities laws.

Non IFRS Measures - Discovery cost per ounce is a financial measure used by many investors to compare mining companies on the basis of results of exploration expenditure. It is used because Amara's exploration expenditure and Mineral Resource updates alone do not give a full picture of the success of the Company's exploration work. Management believes that discovery cost per ounce is an important measure in evaluating the Company's performance, and in determining whether to invest in Amara. However, discovery cost per ounce is not a measure of financial performance, nor does it have a standardized meaning prescribed by IFRS, and may not be comparable to similar measures presented by other companies.

Mario Rossi is a "Qualified Person" within the definition of National Instrument 43-101 and is responsible for the estimation of the Yaoure Mineral Resource. He has reviewed and approved the relevant technical information relating to the resource estimates in this release. Mr Rossi (Fellow AusIMM, Member CIM, Member SME) is Principal Geostatistician of GeoSystems International, Inc.

Michael Hallewell is a "Qualified Person" within the definition of National Instrument 43-101 and is responsible for metallurgy work associated with the Yaoure Mineral Resource. He has reviewed and approved the relevant technical information relating to metallurgy in this release. Mr Hallewell (C.Eng, F.I.M3, F.S.A.I.M.M, F.M.E.S) is Business Development Manager and Principal Metallurgist for SGS Minerals Services UK Ltd.

Peter Brown is a "Qualified Person" within the definition of National Instrument 43-101 and has reviewed and approved the information contained within this announcement. Dr Brown (MIMMM) is the Group Exploration Manager.