Grant of Options

Mwana Africa PLC (the "Company")

Grant of Options

London, 11 December 2012- The Company announces that on 11 December 2012 it granted options over ordinary shares of 1 penny each to the following directors, at an exercise price of 5.5 pence per share:

These options are subject to performance related conditions and may not be exercised before three years from the date of grant. Provided the performance conditions have been met or treated as met at that time, then the options may be exercised at anytime thereafter, up to ten years from the date they were granted.

The aggregate number of options granted today is 35,763,545 including the above directors and other employees that are not directors.

Enquiries:

Mwana Africa PLC

Brian Tuck, Company Secretary

Tel: +44 (0) 20 7654 5580

Nominated Adviser and Broker

Liberum Capital Limited

Michael Rawlinson / Tom Fyson / Christopher Kololian

Tel: +44 (0) 20 3100 2000

Public & Investor Relations

Tavistock Communications

Ed Portman / Mike Bartlett / Simon Hudson

Tel: +44 (0) 20 7920 3150

About Mwana Africa PLC

Mwana Africa PLC is a pan-African, multi-commodity resources company. Mwana's principal operations and exploration activities cover gold, nickel, copper and diamonds in Zimbabwe, DRC and South Africa. Mwana was the first African owned and managed mining business to be listed on London's AIM market.

Mwana's Freda Rebecca gold mine in Zimbabwe restarted operations in 2009. In the year to March 2012, Freda Rebecca produced 47,770 oz of gold.

In February 2012, Mwana announced a gold mineral resource of 2.01 million oz at its Zani Kodo project in Democratic Republic of Congo.

In August 2012, Mwana announced it had entered into a Cooperation and Development Agreement with Zhejiang Hailiang Company Limited to jointly explore some of its copper licences in the Katanga Province of the DRC.

In September 2012, Mwana's subsidiary, Bindura Nickel Corporation, implemented a restructuring and recapitalisation which has allowed it to restart operations at its Trojan nickel mine. First sale of concentrate is expected in Q2 2013.

Further information on the Company can be found at www.mwanaafrica.com.