Ethiopian Ministry Confirms DFS Compliance

17 January 2013

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

Ethiopian Ministry Confirms DFS Compliance Ahead of Mining Licence Issuance

Nyota Minerals Limited (ASX/AIM: NYO), the AIM and ASX listed East African gold exploration and development company, is pleased to announce that the Ethiopian Ministry of Mines ('the Ministry') has completed its review of the Definitive Feasibility Study '(DFS') for the development of the first mining operation at the Company's flagship Tulu Kapi Gold Project ('Tulu Kapi'), including the Environmental and Social Impact Assessment ('ESIA'), and has confirmed in writing that it complies with all regulations and satisfies the requirements for the issuance of a large scale Mining Licence.

Nyota and the Ministry have been in negotiations regarding the fiscal and legal aspects of developing the open pit gold mine at Tulu Kapi as envisaged in the DFS and both parties believe that they are close to finalising the terms for the issuance of a Mining Licence. With this in mind, the Ministry has extended the Company's exploration licence.

This extension enables preliminary preparations for the resettlement of people living within the proposed mining licence area to be concluded and the further exploration of Tulu Kapi's additional zones of mineralisation in order to optimise the operations and economics of the project; including the results from the Feeder Zone drill programme that are anticipated very shortly.

Nyota Chief Executive Officer Richard Chase said, "The Ethiopian Government's acknowledgement that our DFS and the ESIA comply with all requisite regulations for the issue of a mining licence means that we can now focus on negotiating the terms on which such a licence will be granted and raising the necessary funding. We are one step closer to developing Ethiopia's next gold mine."

For enquiries please contact:

Richard Chase (CEO) / Anthony Rowland (Business Development)

Nyota Minerals Limited

+44 (0) 20 7400 5740

info@nyotaminerals.com

NOMAD

Richard Morrison / Jen Boorer

RFC Ambrian Limited

+44 (0)20 3440 6800

FINANCIAL PR

Hugo de Salis / Susie Geliher

St Brides Media & Finance Ltd

+44 (0) 20 7236 1177

BROKER

Guy Wilkes

Ocean Equities Limited

(+44) (0) 20 7786 4370

BROKER

Rory Scott

Mirabaud Securities LLP

+44 (0)20 7878 3360

Or visit: http://www.nyotaminerals.com 

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