Nyota Minerals Regulatory News (NYO)

Nyota Minerals Limited ('Nyota' or the 'Company')

Grant of Options

Nyota announces that, in accordance with shareholder approval received at the recent shareholder annual general meeting, the Company has today granted 13,500,000 options over Ordinary Shares ('Options') to Directors of the Company, on the terms and conditions in the attached Appendix A as follows:

In addition, the Company has today granted a further 4,500,000 Options (1,500,000 each of Tranche A, B and C Options) on the same terms and conditions in Appendix A to certain other employees and senior management of the Company.

The Options granted will not be quoted on the ASX or AIM and may not be transferred without the prior written approval of the Board of the Company. The Options are exercisable on or before 31 December 2015 at an exercise price of:

·; AUD0.35 in respect of Tranche A,

·; AUD0.42 in respect of Tranche B,

·; AUD0.50 in respect of Tranche C.

The directors and employees may only exercise their Options subject to the following vesting criteria:

·; Tranche A Options will vest 12 months from the date of issue,

·; Tranche B Options will vest 24 months from the date of issue, and

·; Tranche C Options will vest 36 months from the date of issue.

The Options lapse within one month of the recipient ceasing to be a director/employee/consultant of the Company.

Shares which are issued as a result of the exercise of Options will rank paripassu in all respects with all Shares on issue, and the Company will apply for quotation of those Shares on the ASX and AIM.

TO VIEW THE APPENDIX 3B, PLEASE CLICK ON THE FOLLOWING WEB LINK:

http://www.rns-pdf.londonstockexchange.com/rns/0300X_-2010-11-30.pdf

For further information please contact:

Terry Tucker

Nyota Minerals Limited

+44 (0) 20 7379 5012

terry.tucker@nyotaminerals.com

NOMAD

Richard Brown

Ambrian Partners Limited

+44 (0)20 7634 4709

BROKER

Guy Wilkes / Will Slack

Ocean Equities Limited

(+44) (0) 20 7786 4370

BROKER

Rory Scott

Mirabaud Securities LLP

(+44) (0)20 7878 3360

Or visit the Nyota website, nyotaminerals.com

APPENDIX A - Terms and Conditions of Options Granted to Directors and Employees

Issue Price - Options granted will be granted free of charge.

Exercise Price - The exercise price of Options will be

i) in respect of Tranche A - AUD $0.35.

ii) in respect of Tranche B - AUD $0.42.

iii) in respect of Tranche C - AUD $0.50.

·; Expiry Date - The expiry date of the options will be 31 December 2015.

·; Vesting Conditions - Tranche A Options will vest 12 months from the date of issue;

Tranche B Options will vest 24 months from the date of issue; and

Tranche C Options will vest 36 months from the date of issue

The Options will lapse within one month of the recipient ceasing to be a director/employee/consultant of the Company.

·; Exercise - Each Option, after it has vested, may be exercised at any time on or before the Expiry Date by forwarding to the Company at its principal office the exercise notice, duly completed together with payment of the Exercise Price per Option exercised.

·; Restriction on Quotation - No application will be made for the Options to be quoted on either ASX or AIM.

·; Restriction on Transfer - Options may not be transferred without the prior written approval of the Board.

·; Adjustment of Options - If, prior to the expiry of the Options, there is a reorganisation of the issued share capital of the Company (including a consolidation, subdivision or reduction of capital or return of capital to shareholders), the number of Shares subject to the option and/or the exercise price will be adjusted in the manner required by the Listing Rules.

·; Bonus issue and rights issues - Option Holders are required to exercise an Option in order to participate in a bonus or entitlement issue made by the Company. Option Holders will be provided with written notice of the terms of the issue to shareholders and afforded that period as determined by the Listing Rules to exercise their Options if they wish to participate in the bonus or entitlement issue.

·; Shares issued on Exercise of Options - Shares which are issued as a result of the exercise of Options will rank equally in all respects with all Shares on issue and the Company will apply for quotation of those Shares on ASX and AIM.

·; Rights on exercise of Options- Dividends will not accrue on the shares in respect of which an Option was exercised until the exercise price has been paid in full in cash. No Option Holder may exercise any votes attaching to the shares in respect of which an Option was exercised until the exercise price has been paid in full in cash.

·; Takeover condition- All Options automatically vest upon a takeover offer being made for control of the Company.