Asa Resources Regulatory News (ASA)

19 April 2012

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN, IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.

MWANA AFRICA PLC("Mwana" or the "Company")

Results of Extraordinary General Meeting

The Company is pleased to announce that all the resolutions proposed at the Extraordinary General Meeting of the Company held earlier today to approve, inter alia, the placing and subscription of 383,042,447 new ordinary shares in the Company (the "Placing and Subscription Shares") were duly passed. As previously announced, the placing comprises the conditional placing by Liberum Capital Limited to institutional and other investors of 140,618,165 new ordinary shares and the subscription comprises the conditional subscription by China International Mining Group Corporation of 242,424,282 new ordinary shares. The Placing and Subscription Shares are expected to be issued and admitted to trading on the AIM Market of the London Stock Exchange on 20 April 2012 ("Admission").

Upon Admission, both the Placing Shares and Subscription 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.

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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. Mwana's Freda Rebecca gold mine in Zimbabwe achieved its target production rate of 50,000 ounces gold per annum in 2011. In February, Mwana announced a gold mineral resource of 2.01 million ounces at its Zani Kodo project in Democratic Republic of Congo. 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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