Increase in gold resource at Zani-Kodo

Mwana Africa PLC

Increase in gold resource at Zani-Kodo

London, 15 February 2010 Mwana Africa PLC ("Mwana" or the "Company") is pleased to announce an updated resource estimate for its 80% owned Zani-Kodo prospect in the Ituri Region of eastern DRC. The resource update follows resource modeling based on the 2,550m nine hole diamond core drilling program, completed in December 2009, on the depth extension of the Kodo Main zone, which is a portion of the 9km long Zani-Kodo Trend.

Mwana has defined indicated mineral resources containing 217 277oz gold and inferred mineral resources containing 421 013oz gold. This represents an increase of 14% and 61% respectively over the previous indicated and inferred resource estimates, announced on 2nd September 2009.In addition, the overall resource grade has been increased from 2.70g/t to 2.82 g/t.

This drilling programme, completed on 1st December 2009, was designed to increase the inferred resource on the down-dip portion of the previously drilled resource to a maximum vertical depth of 380m. All 9 holes intersected mineralisation as expected . Summary assay results for these holes are reported below, and complete assay results will be posted on www.mwanaafrica.com.

These results, combined with geological observations from the drill core indicate the following:

§ Broad zones of sulphide and quartz veining similar to previously intersected high grade zones have been intersected in all but one of the holes. The mineralised zone is seen to have very distinct hanging and footwall contacts demonstrated by the minimal variation between resources based on 0.0g/t and those based on 1.0g/t cut offs, and consistent high grades, particularly in the axis zone of the NE plunging high grade shoot.

§ The lenticular high grade shoot of the Main body is bounded by two distinct NNE trending faults on the north and south. The more northerly of these separates the Kodo Main and Kodo North zones.

§ Good continuity of the mineralised zone with depth.

§ No significant internal faulting of the mineralised zone has been encountered in logging approximately 90 holes over 20,000 metres in the Kodo Main zone.

§ The attitude of the mineralised zone has flattened to a constant dip of 45° at a vertical depth of 150-200m compared with 70° at surface.

§ The broad mineralised zone remains open at depth.

Drilling recommenced in January, with a further 572m drilled to date. A second drill rig has now been mobilised to site. Drilling continues to target the continued down dip extension of the Kodo Main zone with the objective of rapidly increasing the resource. In addition down dip extensions of the Kodo North zone will also be drilled in order to extend resources in that portion of the mineralised zone.

The Kodo zone forms a 700m long segment of the Zani-Kodo Trend which has an overall strike length of 9km. See the news release of 10th December 2009 for more information on the Trend (http://www.mwanaafrica.com/ir/press/2009/press_10dec09_ii.asp)

Kalaa Mpinga, Chief Executive Officer of Mwana Africa, commented:

"We are pleased to be able to announce an updated resource estimate on our Zani-Kodo gold prospect. It is particularly encouraging that drilling just 9 additional holes has resulted in this substantial increase in indicated and inferred mineral resources, which indicates that our model is robust, and supports our confidence in the potential of the prospect. Mwana has so far only drilled 700m along an estimated 9km strike length along the Zani-Kodo Trend, but it is already clear that Zani-Kodo, together with the neighbouring Mongbwalu (AngloGold) and Kibali (formerly Moto Goldmines) concessions, could form one of the world's major undeveloped gold provinces."

Please click on the link below to view Figure 1.

http://www.rns-pdf.londonstockexchange.com/rns/1175H_-2010-2-12.pdf

Enquiries:

Oliver Baring, Executive Chairman Tel: 020 7654 5580

Mwana Africa PLC

Mike Jones / Guy Blakeney Tel. 020 7050 6500

Canaccord Adams Limited

Tom Randell /Anca Spiridon Tel: 020 7726 8400

Merlin

Au gold

km kilometres

JORC the Joint Ore Reserves Committee of Australia

CIM Canadian Institute of Mining, Metallurgy and Petroleum

t tonne(s)

g gram(s)

N.I.43-101 National Instrument 43-101 Standards of Disclosure for Mineral Projects, Canada

Mineral resource a concentration or occurrence of material of intrinsic economic interest in or on the Earth's crust in such form, quality and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade, geological characteristics and continuity of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge. Mineral Resources are sub-divided, in order of increasing geological confidence, into Inferred, Indicated and Measured categories.

Indicated resource part of a Mineral Resource for which tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a reasonable level of confidence. It is based on exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. The locations are too widely or inappropriately spaced to confirm geological and/or grade continuity but are spaced closely enough for continuity to be assumed.

Inferred resource part of a Mineral Resource for which tonnage, grade and mineral content can be estimated with a low level of confidence. It is inferred from geological evidence and assumed but not verified geological and/or grade continuity. It is based on information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes which may be limited or of uncertain quality and reliability.

This press release includes 'forward-looking statements'. Words such as 'anticipates', 'expects', 'intends', 'plans', 'forecasts', 'projects', 'budgets', 'believes', 'seeks', 'estimates', 'could', 'might', 'should' and similar expressions identify forward-looking statements. All statements other than statements of historical facts included in this press release, including, without limitation, those regarding Mwana Africa's business strategy and plans and objectives of management for future operations and acquisition opportunities, are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors which could cause the actual results, performance or achievements of Mwana Africa or the markets and economies in which Mwana Africa operates to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements, including, without limitation, political, regulatory and economic factors. Factors that would cause actual results or events to differ from current expectations include, among other things, political and regulatory risks and the other risks and hazards associated with mineral exploration, development and production. Mwana Africa believes that the assumptions inherent in the forward-looking statements are reasonable; however, forward looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Mwana Africa does not assume any responsibility to update any of such forward-looking statements, save as required by relevant law or regulatory authority. This report contains information regarding the results of various exploration activities. Where a mineral resource has not been defined, it should be noted that the potential quantity and grade is conceptual in nature, there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource. Charl du Plessis, Executive Vice President Exploration of Mwana Africa, who holds a PhD and is a Member of the AusIMM, is a 'Qualified Person' as defined in the AIM Rules and under NI 43-101, and the exploration and resource development information contained in this press release has been reviewed by Dr Du Plessis. Mineral resource estimates included herein are presented in accordance with the JORC Code. If presented in accordance with the CIM Definition Standards on Mineral Resources and Mineral Reserves adopted by the CIM Council, the mineral resource and mineral reserve presentation would be materially the same.