COMPLETION OF ?3.44 MILLION SUBSCRIPTION BY IFC

Nyota Minerals Limited ('Nyota' or the 'Company')

COMPLETION OF £3.44 MILLION SUBSCRIPTION BY IFC

·; Subscription moneys of £3.44M received, which will be used to further accelerate the current drilling campaign at Nyota's flagship Tulu Kapi gold project in Ethiopia

·; As a result, IFC is now a 10% shareholder in Nyota and is expected to add significant value to the Tulu Kapi project in terms of social and environmental matters

·; IFC also provides potential access to debt capital

The directors of Nyota (ASX and AIM:NYO), which is focused on the exploration and development of gold and nickel projects in Africa, are pleased to announce that the £3.44 million placement of new shares to International Finance Corporation ("IFC") has now been completed in all respects.

As a result of the placement, 29,749,327 new shares (the "Placing Shares") have been allotted and issued to IFC, giving it a shareholding of 10% in the Company. Application has been made for the Placing Shares to be quoted on the ASX and admitted to trading on AIM with quotation and admission expected to occur on 16 June 2010. In addition, 22,311,995 options have been granted to IFC in connection with its investment. Further information in relation to the terms and conditions of the IFC's investment can be found in the Company's announcement dated 28 May 2010.

The additional £3.44M received by Nyota as a result of the IFC's initial investment will be used primarily to accelerate the ongoing drilling campaign at the Company's Tulu Kapi gold project in Ethiopia. Nyota recently announced an upgraded Inferred resource of 1.38 million ounces of gold (at a cut-off grade of 0.50g/t gold) and the current drilling programme is designed to convert the current Inferred Resource to an Indicated category and to further increase the size of the Inferred resource.

Nyota Chief Executive, Melissa Sturgess, said: "To have concluded the investment process with IFC in such a short space of time is a fantastic achievement and one which represents an important strategic step towards creating a significant gold project at Tulu Kapi. We are very pleased to welcome IFC as a shareholder and a long-term supporter of the Tulu Kapi project, providing invaluable advice and assistance in social and environmental matters together with the prospect of debt funding at the production stage".

TO VIEW THE APPENDIX 3B, PASTE THE FOLLOWING LINK INTO YOUR WEB BROWSER:

http://www.rns-pdf.londonstockexchange.com/rns/5365N_-2010-6-14.pdf 

The Company gives this notice pursuant to Section 708A (5)(e) of the Corporations Act 2001 (Cth) ("Corporations Act"):

The Placing Shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act, in reliance on Section 708A (5)(e) of the Corporations Act.

The Company, as at the date of this notice, has complied with:

There is no excluded information for the purposes of Sections 708A (7) and (8) of the Corporations Act.

For further information please contact:

Mark Burchnall

Nyota Minerals Limited

(+44) (0)75 4989 2425 or [email protected]

Richard Brown / Richard Greenfield

Ambrian Partners Limited

(+44) (0)20 7634 4700

Guy Wilkes / Will Slack

Ocean Equities Limited

(+44) (0) 20 7786 4370

Press enquiries

Charlie Geller or Leesa Peters

Conduit PR +44 (0)20 7429 6604/ +44 (0)75 2823 3383

Or visit: http://www.nyotaminerals.com

Notes to editors

IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. IFC fosters sustainable economic growth in developing countries by supporting private sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments. IFC's new investments totaled $14.5 billion in fiscal 2009, helping channel capital into developing countries during the financial crisis. For more information about IFC, visit www.ifc.org.