IFC EXERCISES ALL NYOTA OPTIONS

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

IFC exercises all Nyota options to become largest shareholder

·; Further show of equity support by IFC, with all IFC options now exercised

·; Approximately GBP3.87M in exercise moneys received by Nyota, to be used to further support rapid development of the Tulu Kapi project and exploration of regional targets

·; IFC now holds 13.64% of Nyota's issued capital

The directors of Nyota announce that International Finance Corporation ("IFC") has exercised its 22,311,995 options ("Options"). The IFC Options were granted as part of the original subscription announced on 14 April 2010 and under which IFC subscribed £3.44m for approximately 10% of the issued share capital of the Company at that time.

As a result, Nyota has today received a total of GBP3.87 million in exercise moneys from IFC, which will be used to support further development work at the Company's flagship Tulu Kapi gold project ("Tulu Kapi") and exploration of regional Ethiopian gold targets.

Since its original equity investment in the Company in June 2010, IFC has provided significant further support for the Company and Tulu Kapi, both by participating in the fundraising undertaken by Nyota in late 2010 and by providing significant assistance in relation to environmental, social and community matters.

As previously announced, Nyota considers that the ongoing support of IFC during the development phase of Tulu Kapi provides the Company with an important strategic advantage.

The exercise of the Options was triggered by acceleration provisions included in the IFC subscription arrangements and as announced on 14 April 2010, whereby Nyota may elect to accelerate exercise of the Options if the closing price for Nyota shares on AIM is 50% greater than the exercise price (a level of approximately 26 pence) for a period of 20 consecutive trading days. This milestone which was achieved in early January 2011.

The exercise of the Options has resulted in the Company issuing 22,311,995 fully paid ordinary shares to IFC which makes the IFC the largest shareholder in Nyota, with a shareholding of 13.64%.

Application has now been made for the admission to trading of 22,311,995 Shares on the AIM Market of the London Stock Exchange ("Admission"). Admission is expected to occur on 15 February 2011. An ASX Appendix 3B in relation to the issue of shares to IFC can be viewed on the Company's web site.

Nyota CEO Terry Tucker said: "We are delighted that IFC has chosen to exercise its Options and further increase its shareholding in Nyota. Over the past several months we have worked closely with IFC in designing and implementing key social, environmental and community initiatives in relation to Tulu Kapi, which both significantly de-risk the project and provide a solid foundation as it moves into the next phase. "

For further information please contact:

Terry Tucker

Nyota Minerals Limited

+44 (0) 20 7379 5012

[email protected]

NOMAD

Samantha Harrison /Jen Boorer

Ambrian Partners Limited

+44 (0)20 7634 4712

BROKER

Guy Wilkes / Will Slack

Ocean Equities Limited

(+44) (0) 20 7786 4370

BROKER

Rory Scott

Mirabaud Securities LLP

(+44) (0)20 7878 3360

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

Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement