Appointment of non-executive director

22 August 2016

Asa Resource Group plc

("Asa Resource", "the Group" or "the Company")

Appointment of non-executive director

The Board of Asa Resource Group plc ("The Company"), the fully integrated pan-African commodity group, is pleased to announce the appointment of Mr David Murangari as a new independent non-executive director of Asa with immediate effect.

Announcing the appointment, Mr Ning said "David is a highly experienced Zimbabwean geologist who qualified in the USA and is currently Chairman of The Zimbabwe Mining Development Corporation, the state body that plans, coordinates and implements mining development projects on behalf of the government. It's responsible for prospecting, exploration, mining and mineral beneficiation programs.

David also serves as Deputy Chairman of Bindura Nickel Corporation and has been influential in the mining industry in Zimbabwe for many years. He was CEO of the Chamber of Mines of Zimbabwe, the umbrella body concerned with overseeing how the mining industry performs. David is well connected at government level and has extensive corporate experience as well as sitting on a number of boards and professional bodies in Africa.

David's appointment is part of Asa's strategy to augment its reputation within Zimbabwe and to strengthen the Board's mining credentials. I'm confident that our influence is growing steadily in the different jurisdictions we operate in and this should open up more opportunities for the Group as it pursues its growth strategy.

With this appointment, the profile of the non-executive board is more independently balanced than at any time in the past with experience in mining, metallurgy, auditing and investor relations."

Mr David Edgar Hoover Murangari (aged 76) currently holds the following directorships:

There is no further information required to be disclosed in respect of Mr Murangari under Schedule 2, paragraph (g) of the AIM Rules.

About Asa Resource's Strategic vision

Our strategic vision is to be a fully integrated pan-African commodity group, strengthening each commodity group through exploiting Asa Resource's wide portfolio of mining interests. We also continue to engage with trusted partners in many regions to help us exploit the true value of our assets.The process of segmenting assets at Group level and integrating resources operationally is fundamental to both our short and long-term strategies. Over time we seek to shift our focus to having individual exposure in each of our key commodities including nickel, gold, copper and diamonds. Shareholders can have an interest in the whole Group or on a single-commodity basis. Our interests in agriculture and property will add valuable income during times of low commodity prices.This strategy is already showing promise with significant efficiencies achieved through a transfer of skills at mine level and considerable efficiencies across our entire portfolio.

These developments would not be made possible without the commitment, versatility and expertise of management at all levels. This new vision has inspired us all within the Group to double our efforts to re-build Asa Resource Group plc as a strong and sustainable company.

For more information please visit the company's website: http://www.asaukplc.com/ or email [email protected]London

Asa Resource Group plc.

One Fleet Place, London EC4M 7W

Yim Kwan, Finance Director

Tel: +44 (0) 203 696 5470

[email protected]

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

[email protected]

Nominated Adviser and Joint Broker

SP Angel Corporate Finance LLP

Prince Frederick House, 35-39 Maddox Street, London W1S 2PP

John Mackay, Jeff Keating, Caroline Rowe

Tel: +44 (0) 20 3470 0470

Financial Adviser and Joint Broker

Cantor Fitzgerald Europe

1 Churchill Place, Canary Wharf, London E14 5RB

Stewart Dickson, Patrick Pittaway

Tel: +44 (0) 20 7894 7000