High Court Petition & Requisition of GM Update

7 May 2015

Mwana Africa PLC

("Mwana" or the "Company")

High Court Petition and Requisition of General Meeting - Update

Further to the Company's announcements on 9 December 2014 and 7 January 2015, Mwana announces, in respect of the petition issued in the Companies Court (part of the Chancery Division of the High Court of Justice) by China International Mining Group Corporation ("CIMGC"), a substantial shareholder in Mwana, and Mr Yat Hoi Ning, a Non-Executive Director and associate of CIMGC, against the Company and two of its Non-Executive Directors, Mr Stuart Morris and Mr Johan Botha, that the Court has agreed, inter alia and in response to a joint application lodged with the consent of all parties, to grant a stay of the proceedings until 15 June 2015 to allow the parties to continue to explore settlement. The proceedings will, if not settled during the stay, recommence on 15 June 2015.

Separately, further to its announcement on 21 April 2015, the Company announces that it has written to Ian Dearing on behalf of the requisitioning shareholders to confirm its intention to convene a general meeting of shareholders, in response to the Requisition, by way of a circular to shareholders to be issued on or around 12 May 2015. Such a general meeting will take place not later than 28 days from the date of the circular. Shareholders are advised to take no action at this time. Further announcements will be made, as required, in due course.

For further information contact:

Mwana Africa PLC

Kalaa Mpinga, CEO

Caroline Mathonsi, Investor Relations Tel: + 44 (0) 203 696 5470

Nominated adviser and broker

Peel Hunt LLP

Matthew Armitt / Ross Allister Tel: +44 (0) 20 7418 8900

Public and investor relations

Russell and Associates

Jim Jones / Leigh King Tel: +27 (0) 11 880 3924

Tavistock

Ed Portman / Jos Simson / Mike Bartlett Tel: +44 (0) 20 7920 3150

About Mwana Africa PLC

Mwana Africa PLC is a pan-African, multi-commodity mining and development company. Mwana's principal operations and exploration activities cover gold, nickel, copper and diamonds in Zimbabwe, the Democratic Republic of Congo (DRC) and South Africa.