Feasibility Study and New Appointments

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

FEASIBILITY STUDY AND NEW APPOINTMENTS

Melissa Sturgess, Chief Executive commented: "The Tulu Kapi Gold Project has reached a level that provides sufficient confidence to warrant the appointment of both SRK to generate the PEA and additional key personnel to manage the next stage of its development. The PEA, which is a more rigorous and robust version of the desktop Scoping Study completed last year, will provide a detailed assessment of the capital cost, scheduling and conceptual design of a future mine at Tulu Kapi and will guide the Company's strategy going forward. We welcome the new additions to the team and look forward to reporting further exploration results and development progress in the coming months."

Preliminary Economic Assessment ("PEA")

Nyota Minerals (ASX and AIM:NYO), which is focused on the exploration and development of resources projects in Africa,announces today that SRK Consulting ("SRK") has been engaged as an independent consultant to complete a PEA of Nyota's Tulu Kapi Gold Project ("Project") located in Western Ethiopia.

In September 2009 Venmyn Rand (Pty) Limited completed an initial, early stage, desktop Scoping Study which was based on very limited geological information as the Tulu Kapi drilling programme had only commenced earlier that same year. Since then more than 90 drill holes have been completed which provide a substantial amount of new data.

The PEA will be based upon both the latest resource estimation work completed in May 2010 together with all additional information generated between 17 April and 17 July 2010. This additional information includes assay, geological and geotechnical data for an estimated additional 40 reverse circulation ("RC") and diamond drill holes ("DDH"). It also includes other important information generated by a close-spaced ground magnetic geophysical survey, geological interpretation and social, environmental and infrastructural information relevant to the future development of the Project.

SRK is an independent international consulting group with particular expertise in the field of mining and exploration. The group is a leading exponent of mining due diligence and feasibility studies and provides consultancy to both major mining houses and junior explorers. SRK was selected because of its wide ranging experience in feasibility studies for gold projects throughout Africa. The SRK team for the Project comprises consultants covering a wide range of disciplines brought together from its Johannesburg and Cardiff offices. SRK's mandate covers the following:

·; Review and revision of the gold resource estimates using current gold prices and a range of cut-offs;

·; Production of a PEA which takes into consideration geology, resource and exploration potential, mining, processing, engineering, infrastructure, capital and operating costs and scheduling;

·; Pre-tax and post tax economic modelling and analysis, including royalties;

·; All related considerations concerning the construction and operation of a gold mine at Tulu Kapi; and

·; A separate environment, social and community report covering all relevant aspects of the Project.

New appointments

The rapid expansion of the Project has led to the appointment of a number of key personnel. These new additions to the team will help to facilitate the significant increase in geological and other technical data being generated by four drill rigs. They will also help to implement a range of health, safety and environment measures consistent with the change in the scope of the project from a purely exploration focus to an exploration and development focus.

The appointment of Terry Tucker as COO has prompted the creation of an expanded multi-disciplinary team in Ethiopia. A number of highly qualified and experienced professionals have been recruited to enable proper execution of an expanded exploration programme together with the commencement of feasibility and development work. The expanded professional team will ensure close consultation and liaison with the Ethiopian authorities, local community and other stakeholders as the Company's activities expand.

In this regard, the following key operational personnel have been appointed to bolster the existing Nyota project team in Ethiopia:

Kevin Piepgrass - Manager, Exploration

Kevin Piepgrass (B.Sc., University of Alberta) is a geologist who has been working on advanced exploration and development projects in North and South America. His experience includes resource estimates and project advancement to the feasibility level. Kevin has managed a number of large projects in the Yukon and Guyana including a joint venture with Newmont.

Felichismi Mwijage - Project Geologist

Felichismi Mwijage (B.Sc. University of Dar es Salaam and Professional Member for AusIMM) is a mining geologist with over 10 years experience in modern world class open pit gold, copper and uranium mining operations. Felichismi was Superintendent Grade Control Geologist with Geita Gold Mining Limited, Tanzania (Owned by AngloGold Ashanti) and most recently was Senior Grade Definition Geologist at Lumwana Mining Company, Zambia (Owned by Equinox Minerals Limited).

Channa Pelpola - Manager, Environment and Community Affairs

Channa Pelpola (B.Sc., Carleton, M.Sc., Simon Fraser) has over 14 years of environmental assessment experience which includes conducting technical and environmental assessments, project managing large scale multi-disciplinary projects, guiding projects requiring water resources technical expertise, designing water quality, monitoring projects, regulatory negotiation, Aboriginal consultation, and advancing innovative environmental solutions. Channa's recent contracts include Project Management of a baseline environmetal program for a gold mine project in Yukon, Canada and developing a regulatory strategic plan and gap analysis for a mining project in Guyana. Channa recently was also the Risk Management discipline lead for a CAD5.5 billion dollar pipeline and marine infrastructure project in Western Canada.

In conjunction with these and other recent appointments 2,750,000 options exercisable at $0.31 on or before 30 June 2013 have been granted to these and other employees as part of their remuneration and incentive packages.

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For further information please contact:

Melissa Sturgess / Terry Tucker

Nyota Minerals Limited

(+44) (0)78 2555 1397/(+44) (0) 78 3324 8466 or [email protected]/[email protected]

NOMAD

Richard Brown / Richard Greenfield

Ambrian Partners Limited

(+44) (0)20 7634 4700

BROKER

Guy Wilkes / Will Slack

Ocean Equities Limited

(+44) (0) 20 7786 4370

BROKER

Rory Scott

Mirabaud Securities LLP

(+44) (0)20 7878 3360

Press enquiries

Charlie Geller / Leesa Peters

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

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