Asa Resources Regulatory News (ASA)

18 May 2012

Mwana Africa PLC

("Mwana" or the "Company")

Admission of new Ordinary Shares and Total Voting Rights

Mwana Africa PLC (AIM: MWA) announces that pursuant to the Introduction Agreement between the Company and Chuanhua Shang ("Mr Shang") as disclosed in the circular to shareholders dated 3 April 2012 and as approved by shareholders in the Extraordinary General Meeting of the Company held on 19 April 2012, the Company has applied for admission to trading on AIM for the 12,121,214 new ordinary shares (the "New Ordinary Shares") to be issued to Mr Shang at 5.5p per share.

It is expected that the New Ordinary Shares will be issued and admitted to trading on AIM on 24 May 2012 ("Admission").

Upon Admission, the New Ordinary Shares will be issued, credited as fully paid and ranking in full for all dividends and other distributions declared, made or paid from Admission in respect of the Company's ordinary shares then in issue and will otherwise rank on Admission pari passu in all respects with the existing ordinary shares of the Company.

In accordance with the Financial Services Authority's Disclosure and Transparency Rules ("DTR"), upon Admission the total issued share capital of the Company with voting rights will be 1,113,064,369 Ordinary Shares. 2,666,600 Ordinary Shares are currently held in treasury.

The above figure of 1,113,064,369 Ordinary Shares may be used by shareholders in the Company following Admission as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the DTR.

For more information, please visit www.mwanaafrica.comor contact:

About Mwana Africa PLC

Mwana Africa PLC is a pan-African, multi-commodity resources company. Mwana's principal operations and exploration activities cover gold, nickel and other base metals, and diamonds in Zimbabwe, the DRC and South Africa. Mwana was the first African owned and managed mining business to be listed on London's AIM market. Further information on the Company can be found at www.mwanaafrica.com.

Important Information

This Announcement is for information purposes only and shall not constitute an offer to buy, sell, issue, or subscribe for, or the solicitation of an offer to buy, sell, issue, or subscribe for any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

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