Completion of Tranche 1 Placement

28 February 2013

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

Completion of Tranche 1 Placement

Nyota Minerals Limited (AIM/ASX: NYO), the East African gold exploration and development company, confirms that it has completed Tranche 1 of its £4,000,000 placement with new institutional investors and existing shareholders including Centamin plc and Resource Capital Fund V LP.

Following the receipt of £1,900,000 ($2,850,000) of Tranche 1 funds the Company has issued 95,000,000 ordinary fully paid shares ('Shares') at an issue price of $0.03 (£0.02) each. An additional 105,000,000 Shares raising a further £2,100,000 ($3,150,000) will be issued after receipt of shareholder approval of Tranche 2 of the placement which will be sought at a shareholder meeting to be held on 4 April 2013.

The placement was supported by key existing shareholders including Centamin plc, which now has a 17% shareholding after subscribing for a further 38,475,000 new shares, and Resource Capital Fund V LP , which now has a 11.6% shareholding after subscribing for a further 23,750,000 new shares.

The Company intends to direct the funds in the main towards:

·; continue its negotiations with the Ethiopian Government for the issue of a Mining Licence for Tulu Kapi;

·; complete a review of the Definitive Feasibility Study for Tulu Kapi, in particular the mining scenario, costs and implementation plan;

·; complete a scoping study of the Feeder Zone, which was not included in the Feasibility Study; and

·; for general working capital

Section 708A Notice

The Company issues this notice pursuant to Section 708A(5)(e) of the Corporations Act in relation to the 95,000,000 Shares placed.

The Shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act, in reliance on Section 708(8) of the Corporations Act. The Company, as at the date of this notice, has complied with:

(a) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

(b) Section 674 of the Corporations Act.

As at the date of this notice, there is no excluded information for the purposes of Sections 708A(7) and (8) of the Corporations Act in relation to the Company.

To view the Appendix 3B for this issue paste the following link into your web browser:

http://www.rns-pdf.londonstockexchange.com/rns/8888Y_-2013-2-28.pdf 

**ENDS**

For enquiries please contact:

Richard Chase (CEO) / Anthony Rowland (Business Development)

Nyota Minerals Limited

+44 (0) 20 7400 5740

info@nyotaminerals.com

NOMAD

Richard Morrison / Jen Boorer

RFC Ambrian Limited

+44 (0)20 3440 6800

FINANCIAL PR

Hugo de Salis / Susie Geliher / Elisabeth Cowell

St Brides Media & Finance Ltd

+44 (0) 20 7236 1177

JOINT BROKER

Guy Wilkes

Ocean Equities Limited

(+44) (0) 20 7786 4370

JOINT BROKER

Rory Scott

Mirabaud Securities LLP

+44 (0)20 7878 3360

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