Asa Resources Regulatory News (ASA)

7 January 2015 Mwana Africa PLC ("Mwana" or the "Company") High Court Petition Update Further to the announcement of 9 December 2014, Mwana announces that at thehearing held earlier today at the Companies Court in respect of the matterbrought by China International Mining Group Corporation ("CIMGC"), asubstantial shareholder in Mwana, and Mr Yat Hoi Ning, a Non-Executive Directorand associate of CIMGC, (together the "Petitioners") against the Company andtwo of its Non-Executive Directors, Mr Stuart Morris and Mr Johan Botha,initial directions were laid down for the future conduct of the petitionincluding the setting of a trial window of 3 months from 1 November 2015. Theparties will return to court later this month to fix the trial date. The petition refers to the passing of Resolution 3 at the Company's AnnualGeneral Meeting held on 10 September 2014, which related to the re-appointmentof Mr Stuart Morris as a director of the Company, and alleges that theresolution was not validly passed. In addition, leave was given to the Petitioners to file an amended petitionwhich also seeks to challenge the appointments of Mr Ngoni Kudenga and MrHerbert Mashanyare as Non-Executive Directors of the Company, as announced on10 December 2014. The Company's position remains unchanged in respect of these court proceedings.Whilst it will continue to attempt to work with the Petitioners to achieve amutually acceptable resolution to their complaints, the Company will defend itsposition vigorously in court if required. Further announcements with regard to this matter will be made in due course, asappropriate. For further information please visit www.mwanaafrica.com or contact: Mwana Africa PLC Tel: +44 (0) 203 696 5470Kalaa Mpinga, CEO Tel: +44(0) 203 696 5470Caroline Mathonsi, Investor Relations Nominated Adviser and Broker Tel: +44 (0) 20 7418 8900Peel Hunt LLPMatthew Armitt / Ross Allister Public Relations Tel: +27 (0) 11 880 3924Russell and AssociatesJim Jones/Leigh King