Asa Resources Regulatory News (ASA)

05 April 2013

Mwana Africa PLC

("Mwana", the "Group" or the "Company")

Freda Rebecca Leach Tank Update

Mwana is pleased to announce progress at its Freda Rebecca Gold Mine ("Freda") in Zimbabwe following the previously reported Leach Tank failure in February.

During March a total of 50kt of ore was milled at a grade of 2.5g/t achieving a recovery of 80.2%. Normal production throughput has been recommenced as from the 1st of April using tanks 1, 4 and 5 as leach tanks (rather than tanks 1, 2 and 3) with 8 absorption tanks, to ensure that minimum leach times required for full throughput are maintained. Management is confident that this will work as an interim solution, at full production, with the intention of getting back to an optimal tank configuration of tanks 1, 2 and 3 as leach tanks with 10 absorption tanks over the next few months. 

Following the incident, immediate modifications were made to the processing circuit to allow limited milling and production to continue. These modifications included using tanks 1, 4 and 5 as leach tanks and were tested in February and March whilst running the mills at a lower throughput. This configuration has enabled full mill throughput to now be re-established.

The planned rehabilitation of tanks 2 and 3 has commenced. Repairs to tank 2 have progressed well and will be completed during April. On completion of the repairs to tank 2, the system configuration will be changed so that tanks 1, 2 and 4 will be used as leach tanks. Construction work to replace tank 3 has commenced and an external contractor is on site to complete removal of damaged tank infrastructure and commence the build.

Following the successful clean up of the pulp spillage in February, the Environmental Management Authority ("EMA") has acknowledged the mine's compliance with EMA's clean up requirements. Freda, in conjunction with EMA, has since continued to monitor the discharge levels in the drainage canal and these have returned to acceptable levels.

The Mines Inspectorate has completed its preliminary investigation report providing recommendations for the required structural tank repairs. Freda has in addition reviewed its internal standards for pressure and storage vessels. As part of that review ultrasonic thickness tests and integrity tests have been carried out on 9 out of the 13 tanks to date. In addition a structural audit has been conducted across the complete plant.

For further information contact:

Mwana Africa PLC Tel: +44 (0)20 7654 5580

Donald McAlister / Lorenz Werndle

Nominated Adviser and Broker

Liberum Capital Limited Tel: +44 (0)20 3100 2000

Michael Rawlinson / Tom Fyson / Christopher Kololian

Public & Investor Relations

Tavistock Communications Tel: +44 (0)20 7920 3150

Ed Portman / Simon Hudson / Mike Bartlett

About Mwana Africa PLC

Mwana Africa PLC is a pan-African, multi-commodity mining and development company. Mwana's principal operations and exploration activities cover gold, nickel, copper and diamonds in Zimbabwe, the DRC and South Africa.

The restart of operations at The Trojan Nickel Mine (owned by Mwana's Zimbabwe subsidiary Bindura Nickel Corporation ("BNC")) follows four years during which all of the BNC assets were on care and maintenance. In September 2012, Bindura Nickel Corporation carried out a restructuring and recapitalisation involving US$23m being invested into BNC which has allowed it to restart the Trojan mine. First sale of concentrate to Glencore International is expected in Q2 2013.

Mwana's Freda Rebecca gold mine in Zimbabwe, having restarted operations in 2009, produced 47,770 ozs of gold in the 12 months to March 2012. Record quarterly gold production of 18,350 ozs was achieved in the third quarter of 2012.

In February 2013, Mwana announced that the gold mineral resource at its Zani Kodo project in Democratic Republic of Congo had increased to 2.6 million ounces.

In August 2012, Mwana announced it had entered into a Cooperation and Development Agreement with Zhejiang Hailiang Company Limited to jointly explore its copper license areas in the Katanga Province of the DRC.