Acquisition

Asa Resource Group PLC

("Asa" or "the Company")

Acquisition of Shares in Kanhyhm Procurement Proprietary Limited in South Africa

The Company is pleased to announce that it has completed the acquisition of 62% of total issued shares in Kanhyhm Procurement Proprietary Limited ("KP") which wholly owns the KEPL Slaughterhouse business in South Africa, for a total cash consideration of ZAR6,200,000 (or 290,600GBP/ USD411,000). 38% of KP will be acquired by the Vital Profit Group Limited, which will be the operator of KP. Asa has the right to appoint two directors to the Board of KP

Mr Yat Hoi Ning, Executive Chairman of Asa said:

"This acquisition transaction provides a great opportunity for the Group to enter into the local slaughtering and meat processing market in South Africa. The transaction optimises the business scope and enhances the Asa Group as a whole.

This acquisition is in line with the Group's business strategy of diversified development into Agriculture as one of the Group's seven core businesses, which also includes Gold, Diamond, Copper and Nickel mining, as well as Property Management and Mining Services," Acquiring a slaughterhouse will provide a solid foundation for the development of our Group's agricultural business"

About Asa Resource Group PLC

Asa Resource Group PLC is a public company listed on the London Stock Exchange's Alternative Investment Market (AIM). The core businesses of Asa Resource Group PLC are Gold, Diamond, Copper and Nickel mining, as well as Agriculture, Property Management and Mining Services.

For further information please visit www.asaukplc.com or contact:

London:

Asa Resource Group Plc

One Fleet Place, London EC4M 7W

Yim Kwan, Finance Director

Amilha Young, Group General Counsel and Company Secretary

Tel: +44(0) 20 3696 5470

Hong Kong:

Asa Resource Group Plc

Units 509-510, Level 5, Core E, Cyberport 3, 100 Cyberport Road, Hong Kong

Samuel Ng, Investment Manager

Tel: +852 25662638

Nominated Adviser

Grant Thornton UK LLP

30 Finsbury Square, London EC2P 2YU

Colin Aaronson, Richard Tonthat, Carolyn Sansom

Tel: +44 (0) 20 7383 5100

Financial Adviser and Corporate Broker

Cantor Fitzgerald Europe

1 Churchill Place, Canary Wharf, London E14 5RB

Stewart Dickson, Jeremy Stephenson, Patrick Pittaway

Tel: +44 (0) 20 7894 7000

Public Relations

Kirstin Barwise (South Africa) Tel: +27 (0) 74 825 3202

E-mail: [email protected]