Asa Resources Regulatory News (ASA)

20 February 2013 

Mwana Africa PLC

("Mwana" or the "Company")

Leach Tank Incident Update

Mwana Africa today provides an update to the Leach Tank Incident at Freda Rebecca Gold Mine (FRGM) reported on Thursday 14 February.

Mwana is pleased to report that all five employees involved in the incident have been discharged from hospital. Four have returned to normal duties, whilst the fifth who was treated for a fractured ankle is reporting as an out patient at the mine clinic.

As a consequence of the incident, effluent discharged into the mine's drainage canal resulted in elevated cyanide levels from normal yellow discharge permit levels to red permit levels. As a result of the swift action taken by mine management under the guidance of General Manager Toindepi Muganyi, discharge levels have subsequently returned to normal operating limits.

Containment of the leach tank contents has been completed and Freda Rebecca management, working in conjunction with the local Environmental Management Agency ("EMA"), continues to monitor discharge levels in the mine drainage canal. The EMA has levied a fine of US$5,000 on Freda Rebecca Gold Mine for discharge of material in breach of its permits. Mine management expects to complete clean up of spillage from the drainage canal by the end of Wednesday 20 February.

The Mines Inspectorate has completed its site investigation and has given permission to start work to remove damaged structures associated with the failure of tank 3. This will then allow mine personnel to commence modifications leading to the recommissioning of leach tank 1 and commencement of repairs to leach tank 2. FRGM is investigating the cause of the tank collapse and assessing the integrity of the other tanks and steelworks.

Production has recommenced on a reduced throughput basis. Production is expected to increase further as tank 1 is brought back on line. Management expect to restore 50% of production levels by the end of February and to maintain this level through March and at present are targeting restoration of full production by the end of March.

It is expected that the incident will in the short term affect production levels and in the medium term affect gold recovery. Management guidance for gold production for the 12 months ending March 2012 is set at 63,000 ozs.

Kalaa Mpinga, Chief Executive Officer of Mwana, commented: "We express our appreciation of the work done by local management in collaboration with Government authorities at the national and local level in dealing quickly and efficiently with the situation. Mwana remains focused on completing the repairs at Freda Rebecca and building on the successes achieved to date at Freda Rebecca."

For further information please visit www.mwanaafrica.comor contact:

About Mwana Africa PLC

Mwana AfricaPLC 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 2012, Mwana announced a gold mineral resource of 2.01 million ounces at its Zani Kodo project in Democratic Republic of Congo.

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.

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