Director Loans

20 January 2016

Namibian Resources plc

Director Loans

Namibian Resources plc (the "Company") announces that Brian Moritz, Chairman, has continued to provide financial support to the Company by way of unsecured, interest-free loans. As at today's date, the balance of such loans is approximately £83,000 (31 August 2015: £31,000). Alex MacDonald, who is independent of Mr. Moritz, considers, having consulted with Cenkos Securities plc, the Company's nominated adviser, that the terms of these loans are fair and reasonable insofar as the Company's shareholders are concerned.

It is expected that the outstanding balance will be settled by an issue of shares to Mr. Moritz following completion of the proposed acquisition by the Company of Petro Kouilou S.A. (as announced on 21 December 2015).

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