Convertible Loan Facility for BNC

Mwana Africa PLC

("Mwana", the "Company")

Convertible Loan Facility for Bindura Nickel Corporation

London, 26th of September 2011- Mwana Africa PLC announces that at the Annual General Meeting of its subsidiary, Bindura Nickel Corporation ("BNC"), held on the 22nd of September, BNC shareholders approved a convertible loan facility of $10m provided by Mwana. Mwana holds a 52.9% controlling interest in BNC.

The loan element of the facility has been approved by the Reserve Bank of Zimbabwe. Mwana will be able to exercise the convertible element of the facility only upon a further specific approval by the Reserve Bank of Zimbabwe and the Ministry of Youth Development, Indigenisation and Empowerment. The facility allows Mwana to provide funds for the ongoing working capital requirements at BNC.

Enquiries:

Mwana Africa PLC

Donald McAlister / Lorenz Werndle Tel: +44 (0) 20 7654 5580

Nominated Adviser and Broker

Ambrian Partners Limited Tel: +44 (0) 20 7634 4700

Anthony Rowland / Jen Boorer

Joint Broker

XCAP Securities plc Tel: +44 (0) 20 7101 7070

Jon Belliss / John Grant / Parimal Kumar

Public Relations

Merlin Tel: +44 (0) 20 7726 8400

David Simonson / Anca Spiridon