Asa Resources Regulatory News (ASA)

10 September 2014 Mwana Africa PLC ("Mwana" or the "Company") AGM Statement Mwana Africa PLC is pleased to announce that, at its Annual General Meetingheld today, Kalaa Mpinga, CEO, will provide the following update on operationsand exploration activity in Southern Africa. "Mwana has enjoyed success on a number of fronts so far this year. Operationsat both our gold and nickel mines continue to perform well, whilst productioncontinues to ramp up quickly at the Klipspringer Slimes Retreatment Project,South Africa. At the Freda Rebecca Gold Mine we have focused this year on improving miningand processing efficiencies and we are already beginning to see thesemodifications impact positively on our production levels while reducing ourall-in sustaining cost. Gold production for the six months ended June 2014 was26,883 ounces. Since then the Company has produced 11,314 ounces in July andAugust and forecast production of over 5,000 ounces during September which isbased on improved mill throughput, availability and feed grade, all of whichare sustainable. The cash cost of producing averaged $854 per ounce in July andAugust against an average of $1,078 per ounce in the June quarter. Thisrepresents a 21% decline in costs quarter on quarter. The all-in sustainingcost averaged $1,088 per ounce in July and August, this has mostly been becauseof increased production and reagent optimisation. The Company is pleased toreport that all of the updates and adjustments to the mine's productionfacilities have been completed and that Freda Rebecca's sole focus now ismaintaining current cost levels and continue to monitor the efficiencies fromthe recent improvements. Freda Rebecca remains one of the largest goldproducers in Zimbabwe and is the cornerstone of Mwana's portfolio. At BNC, I am delighted by the progress seen at the Trojan Mine. Trojan'sproduction rate is steadily increasing to its optimal sustainable level. DuringJuly and August, the mine milled 106,408 tonnes of ore to produce 1,296 tonnesof nickel in concentrate. Cash costs have averaged $13,654 per tonne during thefirst two months whilst all-in sustaining costs have averaged $14,313 per tonneover the same period. Our focus remains on optimising current operations at theTrojan Mine, whilst continuing to evaluate options for bringing the smelteroperations back into production. Initial refurbishment work has alreadycommenced and advanced discussions by BNC regarding its project funding optionsfor the re-start are ongoing. The Company continues to remain cash positive and cash generative." For further information please visit www.mwanaafrica.com or contact: Mwana Africa PLC Tel: +44 (0) 20 7654 5580 Caroline Mathonsi, Head of InvestorRelations Simon Gilbert, Company Secretary Nominated Adviser and Broker Tel: +44 (0) 20 7418 8900 Peel Hunt LLP Matthew Armitt / Ross Allister Public & Investor Relations Tel: +27 11 8803 924 Russell and Associates Tel: +44 (0) 20 7920 3150 James Duncan Tavistock Communications Ed Portman / Jos Simson / Mike Bartlett

ENDS