High Grade Nickel Mineralisation at Trojan

8 October 2012

Mwana Africa PLC

("Mwana", "Mwana Africa", the "Group" or the "Company")

High Grade Nickel Mineralisation at Trojan Nickel Mine

Mwana is pleased to announce a number of significant intersections of high grade nickel from the resource drilling programme being carried out at Bindura Nickel Corporation's ("BNC") Trojan nickel mine.

These are the first drilling results from Trojan since the successful recapitalisation and restructuring of BNC was completed last month. Key mineralised intercepts include (1,2):

·; 27.0m at 3.50% Ni from 359m (BH 3577)

·; 94.0m at 3.14% Ni from 224m (BH 3579)

·; 27.7m at 10.63% Ni from 264m (BH 3576)

·; 10.4m at 8.25% Ni from 164m (BH 3580)

Further selected results from this drilling programme are outlined in Table 1 at the end of the announcement.

The Trojan drilling programme took place over a period of 29 months commencing in April 2010. In total, 8,040 meters were drilled over 18 boreholes using a diamond drill rig. The aim of the drilling programme is to confirm the down dip extension of the massive sulphide zone within the Main Orebody. The programme will delineate the Main Ore Body and Hanging wall Ore Body resources between 37 level and 45 level, form the basis of an updated JORC compliant resource and provide the basis for the extended life of mine plan for Trojan.

BNC recently concluded a restructuring and recapitalization involving a rights issue and placing which allows BNC to restart its Trojan nickel mine based in Bindura, Zimbabwe. Operations have now recommenced with the objective of producing concentrate for sale by Q2 2013. BNC has an offtake agreement with Glencore International who will buy all the nickel concentrate produced by Trojan.

Kalaa Mpinga, Chief Executive Officer of Mwana, commented:

"I am very encouraged by the early results from the resource drilling below 37 level at Trojan. The Nickel grades are better than expected and underpin our confidence in the quality and future prospects of the mine which is currently in the process of being restarted."

Qualified Person

Gayle Hanssen, Consultant Geologist, B.Sc (Hons) Natal, Pr. Sci. Nat, is a member of SACNASP and is a 'Qualified Person' as defined in the AIM Rules. The exploration and resource information contained in this press release pertaining to Trojan have been reviewed and verified by Ms. Hanssen.

For further information please visit www.mwanaafrica.com or contact:

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 and other base metals, and diamonds in Zimbabwe, the 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 and achieved its target production rate of 50,000 ounces gold per annum in 2011.

In February 2012, Mwana announced a gold mineral resource of 2.01 million ounces 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 it copper license areas in the Katanga Province of the DRC.

In September 2012, Mwana's subsidiary, Bindura Nickel Corporation, carried out a restructuring and recapitalisation which has allowed it to restart its Trojan nickel mine.

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

TABLE 1: Selected intersections from Trojan Drilling Campaign

 (1) Widths reported are down hole measurements and as such not true widths.(2) Results are not independently audited