Payback period 2.4 years (7% improvement from 2.6 years stated in the MPFS);

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1 Kibo Mining Plc (Incorporated in Ireland) (Registration Number: ) (External registration number: 2011/007371/10) Share code on the JSE Limited: KBO Share code on the AIM: KIBO ISIN:IE00B97C0C31 ( Kibo or the Company ) 08/07/2016 Mbeya Coal to Power Project Completes Definitive Mining Feasibility Study Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO; AltX: KBO), the Tanzania focussed mineral exploration and development company, is pleased to announce the completion of the Mining Definitive Feasibility Study ( MDFS ) of the Mbeya Coal to Power Project ( MCPP ). The MDFS comprised the optimization of the mine design, a detailed mine design based on the results from the restated Mbeya Coal Resource (RNS dated 11 April 2016) and the final coal requirement for the Mbeya Power Station as stated in the Power Definitive Feasibility Study ( PDFS ) (RNS dated 4 May 2016). Results from the MDFS correlate accurately with those of the Mining Pre-Feasibility Study ( MPFS ) (RNS dated 12 August 2015) and have reconfirmed the Mbeya Coal Mine as a robust project with strong financial and commercial indicators. Key results from the MDFS are the following: IRR 69.2% (15% improvement from 53.9% stated in the MPFS); Payback period 2.4 years (7% improvement from 2.6 years stated in the MPFS); Peak funding requirement USD 17 Million (reduced by 54% from that identified in MPFS); Power station coal requirement over the life of the plant was reduced by 23% from that identified in the MPFS, bringing about significant environmental and cost benefits. NOTE: The mining method developed for the Mbeya coal mine ensures that all coal seams can be mined with great accuracy, which guarantees that coal is delivered to the power plant at a reliable and consistent calorific value ( CV ). The reliability in receiving coal at a consistent CV was critical for the power plant design to ensure optimal fuel efficiencies. The MDFS mining method made it possible to design a power station that required significantly less coal for the same output i.e GWh per annum. Although this will result in a linear reduction of revenue for the coal mine, this is more than recovered in cost savings for the power plant which is most sensitive to fuel costs. The most important gain from the efficiencies and effectiveness of the mining method is however in the notably reduced overall environmental impact of both the mine and the power station; Mining method selected during MPFS confirmed as most accurate and cost-effective mining method for the Mbeya Coal Mine. NOTE: The mining method developed for the Mbeya coal mine confirmed that mining will be conducted by modified terrace mining, with over burden removal by means of a free dig (truck and shovel) method and coal seam and inter burden mining by means of mechanised continuous surface mining. All in cost margin 39% (reduced from 49% in the MPFS due to greater accuracy in

2 modelling key cost drivers). Louis Coetzee, CEO of Kibo Mining, said: We are delighted with the results of the MDFS, which have confirmed, and in various areas improved on the positive Pre Feasibility Study results. Figures from the MDFS report confirm that the Mbeya Coal Mine (as the mining component of the MCPP) is a robust project in every aspect. Project fundamentals are significantly better than originally at the end of the Concept Study in We are particularly pleased with the improved IRR of 69.2% and the significantly improved environmental impact. The significance of the mining method that was developed for the Mbeya coal mine cannot be underestimated. This method not only eliminated one of the two biggest environmental risks for the MCPP, i.e. eliminating the need to wash the coal, but also reduced the coal requirement by 23%, which means substantial cost savings for both the mine and the power plant. It will also result in a corresponding reduction in emissions. Considering that these two elements are fundamental to the fundability of the MCPP, we could not have hoped for better results from the MDFS. The total coal requirement of the Mbeya power plant over the life of plant is stated as a probable reserve in the MDFS, meaning that the power plant can rely on an upfront guaranteed fuel supply for its entire life span. The two key work streams required for the completion of the MCPP Integrated Bankable Feasibility Study ( IBFS ) are now complete and we are now focussed on completion of the final work on the IBFS. Important Notes for Readers: The information contained within this announcement is taken from the DMFS report produced by Minxcon Projects in respect of the MMCPP. Recognising the level of commercial sensitivity and for the protection of all stakeholders interests the technical information contained in the DMFS report which has been provided in this announcement and in the wider public domain has been limited at this time. Readers should note that operational and financial data pertaining to any complex development project of this nature is project specific. Kibo has undertaken the MCPP DMFS to properly and professionally understand the technical and financial merits of the project and the results reported above remain the subject of ongoing review and verification and any material changes will be reported to the market should any occur. The findings outlined can only be used in an assessment and analysis of the MCPP to which this work relates and not as a generic benchmark standard.

3 Contacts Louis Coetzee +27 (0) Kibo Mining plc Chief Executive Officer Andreas Lianos +27 (0) River Group Corporate Adviser and Designated Adviser on JSE Jon Belliss +44 (0) Beaufort Securities Limited Broker Oliver Morse RFC Ambrian Limited Nominated Adviser on AIM Daniel Thöle / Anna +44 (0) Legge Bell Pottinger Investor and Media Relations Kibo Mining - Notes to editors Kibo Mining is listed on the AIM market in London and the AltX in Johannesburg. The Company is focused on exploration and development of mineral projects in Tanzania, and controls one of Tanzania's largest mineral right portfolios. Tanzania provides a secure and stable operating environment for the mineral resource industry and Kibo Mining therein. Kibo Mining holds a thermal coal deposit at Mbeya, which has a significant NI compliant defined resource, and is developing a MW mouth-of-mine thermal power station, the Mbeya Coal to Power Project ( MCPP ), previously called Mbeya Coal to Power Project ( MCPP ), with an established management team that includes Standard Bank as Financial Advisor. Kibo is undertaking a Coal Mining Definitive Feasibility Study and a Power Pre-Feasibility Study for the Mbeya project with an integrated Bankable Feasibility Study report for the MCPP to be released in the near term. On 20 th April 2015, Kibo signed a Joint Development Agreement for the completion of the Definitive Feasibility Studies and development of the MCPP with China based EPC contractor SEPCO III. The Company also has extensive gold focused interests including Lake Victoria Goldfields and Morogoro projects. At Lake Victoria, the Company has projects with a 550,000 oz. JORC compliant gold Mineral Resource at Imweru Project and a 168,000 oz. NI compliant gold Mineral Resource at the Lubando Project in which the Company holds a 90% attributable interest. The Company is currently undertaking a Definitive Feasibility Study on its Imweru Project. Kibo also holds the Haneti Project on which the latest technical report confirms prospectivity for nickel, PGMs, gold and strategic metals including lithium. Kibo Mining further holds the Pinewood (coal & uranium) project where the company has entered into a 50/50 Exploration Joint Venture with Metal Tiger plc. Finally, the Company also holds the Morogoro (gold) project where the company has also entered into a 50/50 Exploration Joint Venture with Metal Tiger plc.

4 The Company's projects are located in the established and gold prolific Lake Victoria Goldfields, the emerging goldfields of eastern Tanzania and the Mtwara Corridor in southern Tanzania where the Government has prioritized infrastructural development attracting significant recent investment in coal and uranium. The Company has a positive working relationship with the Tanzanian government at local, regional and national levels and works hard to maintain positive relationships with all communities where company interests are held. The Company recognizes the potential to enhance the quality of life and opportunity for Tanzanian citizens through careful development of its projects. Updates on the Company's activities are regularly posted on its website Table 1: Restated Mbeya Resource Statement (dated 31 March 2016) SEAM SEAM NI IN SITU % IN SITU RAW QUALITIES (AIR DRIED) THIKN ESS CLASS Megatons GEOLOGICAL Megatons RD ASH IM VM CV TS No discount DISCOUNT with discount gm/ cc % % % % % S4 Measured 0-5% 0 S3U 2,25 Measured 3,186-5% 3,027 1,65 43,7 5,3 23,1 14,6 1,96 S3L 2,58 Measured 3,722-5% 3,536 1,58 36,6 6,2 25,2 16,9 1,45 S2 3,89 Measured 6,279-5% 5,965 1,56 34,7 6,5 24,5 17,3 1,31 S1U 2,61 Measured 4,180-5% 3,971 1,67 38,4 5,7 23,1 16,1 1,00 S1L 2,92 Measured 4,159-5% 3,951 1,56 33,7 6,0 23,6 17,8 0,86 S0 1,39 Measured 0,477-5% 0,453 1,59 37,7 6,2 22,5 16,0 0,42 Measured 22,004-5% 20,904 1,60 36,91 6,02 23,92 16,68 1,26 S4 1,04 Indicated 3,49-10% 3,14 1,74 48,6 5,2 22,1 12,8 1,36 S3U 2,09 Indicated 12,17-10% 10,95 1,67 45,5 5,3 22,2 14,2 1,55 S3L 2,00 Indicated 13,08-10% 11,77 1,64 41,3 5,1 24,0 15,6 1,97 S2 3,41 Indicated 25,64-10% 23,08 1,58 36,9 5,8 24,4 16,8 1,10 S1U 2,26 Indicated 18,16-10% 16,34 1,72 44,3 5,0 22,0 14,2 1,02 S1L 2,74 Indicated 21,29-10% 19,16 1,67 38,1 5,2 22,6 16,4 0,66 S0 1,31 Indicated 4,61-10% 4,15 1,66 41,4 5,5 21,4 15,2 0,69 Indicated 98,446-10% 88,601 1,65 40,79 5,31 23,01 15,52 1,15 S4 0,82 Inferred 0,4-15% 0,3 1,87 56,9 5,1 18,9 9,6 0,99 S3U 2,48 Inferred 2,3-15% 2,0 1,69 46,9 5,1 21,5 13,5 1,49 S3L 1,79 Inferred 1,8-15% 1,5 1,75 47,6 5,2 21,7 13,2 2,43 S2 3,00 Inferred 2,2-15% 1,9 1,54 33,7 6,4 24,6 17,7 1,32 S1U 2,26 Inferred 2,8-15% 2,4 1,74 42,3 5,8 21,9 14,2 1,01 S1L 2,93 Inferred 3,6-15% 3,1 1,68 35,6 5,5 23,2 17,0 0,85 S0 1,13 Inferred 0,1-15% 0,1 1,67 44,3 5,4 20,5 13,9 0,50 Inferred 13,280-15% 11,288 1,69 40,99 5,58 22,51 15,17 1,29 GRAND TOTAL 133, ,793 1,65 40,17 5,45 23,11 15,68 1,18 Review by Qualified Persons The information in this announcement that relates to the Mbeya Coal Mineral Resource is taken from a report by CD van Niekerk Director and Principal Geologist with the firm GEMECS (Pty) Ltd. Mr van Niekerk is a Professional Natural Scientist with the South African Council for Natural Scientific Professions (SACNASP), Registration No /98 and a Fellow Member of the Geological Society of South Africa. He has relevant experience and technical qualifications to be a Qualified Person for reporting coal resources to the NI Standard and for the purposes of the AIM Rules for Companies. The Company s Exploration Director, Noel O Keeffe has reviewed the resource report and the references to them in this announcement.

5 Johannesburg 08 July 2016 Corporate and Designated Adviser River Group