Update on exclusivity period

14 October 2015

Sovereign Mines of Africa PLC

("SMA" or "the Company")

Update on exclusivity period with potential partner

Further to the announcement made by the Company on 28 September 2015 in relation to the exclusivity agreement entered into with a major third party until early October 2015, the Company announces that an extension has been granted to the exclusivity agreement until 23 October 2015, in order to attempt to finalise a formal agreement relating to the Company's Mandiana project.

There can, at this time, be no guarantee that such an agreement will be entered into, a further announcement will be made in due course when the exclusivity period lapses or produces a formal agreement.

Ends

Enquiries:

SOVEREIGN MINES OF AFRICA PLC

David Pearl, F.C.A. - Chairman +353 696 8961

david.pearl@pearlcp.com

Nathan Steinberg - Finance Director +44 20 7269 7680

SHORE CAPITAL - NOMINATED ADVISER & BROKER

Toby Gibbs/Bidhi Bhoma - Corporate Finance

Jerry Keen - Corporate Broking +44 20 7408 4090