Bindura Nickel Corp - Closure of Bond Issue

2 March 2015 Mwana Africa PLC ("Mwana", the "Group" or the "Company") Bindura Nickel Corporation announces closing of US$ 20 million bond issue forthe smelter restart Mwana is pleased to announce that, further to the Company's announcement on 21November 2014, Bindura Nickel Corporation Limited ("BNC"), its 74.73% ownedsubsidiary, successfully closed its fully subscribed $20 million Bond offer on27 February 2015. The net proceeds from this issue will be used to purchase new equipment forBNC's smelter which is due to be re-opened in approximately nine months' time. Kalaa Mpinga, CEO of Mwana, commented: "We are delighted with the successful completion of the bond offering. Theproceeds from this issue will be invested in restarting the smelter at Bindura. The closing of the corporate bond offer demonstrates the confidence theZimbabwean financial institutions have in the prospects for BNC and itsmanagement team to provide a financial return whilst delivering tangible socialbenefit through job creation and in-country beneficiation of Zimbabwe's naturalresources with the support of the Government of Zimbabwe. In particular,Ecobank Zimbabwe has donated its time and efforts to ensuring this bond issueis a success and thus reaffirming its commitment to helping build a market forthose seeking investments. This is the first corporate bond to be issued for a mining company with bothPrescribed and Liquid Asset status, and we shall endeavour to deliver on thestated 12-month accelerated smelter restart plan." For further information contact: Mwana Africa PLC Kalaa Mpinga, CEO Tel: + 44 (0) 203 696 5470 Caroline Mathonsi, Investor Relations Nominated Adviser and Broker Peel Hunt LLP Matthew Armitt / Ross Allister Tel: +44 (0) 20 7418 8900 Public Relations Russell and Associates

Jim Jones/Leigh King Tel: +27 (0) 11 880 3924