Asa Resources Regulatory News (ASA)

19 May 2008 07:00



Mwana Africa plc (the "Company")

GOLD PROJECTS UPDATE: Democratic Republic of the Congo ("DRC")

Doubled strike length of gold mineralisation at Zani Kodo

To view the associated PDF, please follow the link below;

http://www.rns-pdf.londonstockexchange.com/rns/7215U_-2008-5-18.pdf

London, 19th of May 2008 - Since the last press release on the exploration programme at Zani Kodo, on 23rd November 2007, over 5,000m of drilling has been completed. Total diamond drilling to date on the property by Mwana Africa now amounts to over 14,000m. The results so far continue to indicate the presence of significant gold mineralisation which remains open.

Drilling at Zani-Kodo during early 2008 focused primarily on testing the downdip extensions of a continuous mineralised shear zone at the contact between sandstones and banded iron formation/ graphitic schists confirmed by drilling last year, covering a strike length of 350m ("Kodo Main").

Since the previous press release assay results have now been obtained for a further 24 holes in the Kodo Main, Kodo North extension and Block 6 areas. 

Latest results from drilling along the Northern extension of the Kodo Main zone indicate that the higher grade zone within the mineralised structure is continuous for at least a further 300m along strike to the North, and remains open in this direction. Best intersection is 8m @ 11.51g/t in hole KDODD041 (Figure 1).

Drilling on the Southern extension has also defined a further 100m strike length in this direction with higher grade intersections in holes KDODD002 and KDODD003 (Figure 1). 

 The aggregate strike length of the defined orezone is now 700m.

Infill drilling has also shown the continuity of mineralisation within the Kodo Main zone with best intersection of 10m @ 8.96g/t in hole KDODD018A (Figure 1). 

Mineralisation is associated with sheared banded iron formation, graphitic schists, quartz veining and sulphide (pyrrhotite) zones. A total strike length of 600m of the mineralised structure (still open to the North and South) has now been defined. Importantly, the assayed value of 8m @ 11.51 in KDODD041 indicates the possible extension of the 150m long higher-grade shoot present at Kodo Main into the Northern area. This high-grade zone forms part of the laterally continuous Main Zone.

Infill drilling will be carried out in the Northern extension area to further define the mineralised structure.

The Kodo mineralised zone comprising Kodo Main, North and South dips at 60° and is likely to be amenable to open pit mining.

Best results are as follows:

N.B. All quoted widths are apparent width, not necessarily true width.

Note: Complete assay result will be posted on www.mwanaafrica.com.

Results were also received from drilling in the Block 6 mineralised zone in the western footwall of the Kodo structure, which indicates additional potential to the west of Kodo main.

Best results:

Total diamond drilling to date at Kodo is 14,211m with assays awaited for 18 out of 90 holes.

Kalaa Mpinga, CEO of Mwana Africa, commented, "These results evidence significant gold mineralisation at the Kodo Main zone and its Northern extension. It is worth noting that our drilling has been planned to intersect mineralisation to a maximum vertical depth of 150m. Deeper drilling should delineate additional unexplored mineralisation in the future. These exploration results from Zani Kodo have surpassed our expectations. They confirm our plan to advance the project towards production as soon as practical."

Charl du Plessis, Executive Vice President Exploration of Mwana, who holds a PhD and is a Member of the AusIMM, is a "Qualified Person" as defined in the AIM Rules and in National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and the information contained in this press release is based upon information prepared under the supervision of Dr. du Plessis.

Diagrams showing the Zani-Kodo Licence and Project area and Kodo diamond core drillhole locality survey can be found below.

Enquiries:

Oliver Baring, Executive Chairman  Tel: 020 7654 5588  Mwana Africa plc

Tom Randell / Anca Spiridon  Tel: 020 7653 6620  Merlin

Mike Jones / Ryan Gaffney  Tel: 020 7050 6500  Canaccord Adams

Some statements contained in this news release are forward-looking and, therefore, involve uncertainties or risks that could cause actual results to differ materially. Such forward-looking statements include comments regarding exploration work. Actual results could differ materially from those anticipated. The Company disclaims any obligation to update forward-looking statements.

Notes to Editors

Mwana is the 80% beneficial owner of the 3293km2 Zani-Kodo mining licence in the gold belt area of the Occidentale Province, Democratic Republic of the Congo. The area contains a series of highly prospective greenstone belts of Kibalian age which are considered to have high gold potential. The Zani-Kodo project represents the initial focus of exploration for Mwana in the licence area. Current exploration is focused around the historical Kodo mine which produced 572,000t at 6.5g/t until 1964.

Mwana‛s significant land holdings in this area were selected for the high potential for discovery of gold mineralisation, and bedrock geology that is understood to be part of the world class Kibalian age Kilo-Moto greenstone belt, which contains the significant Moto Gold deposit in the DRC, and the Geita ore body in Tanzania, which is hosted in correlative greenstones.