Kalia Mine JORC Resource Increase

26 September 2011

Bellzone Mining plc

("Bellzone" or the "Company")

Significant Increase in Kalia Mine JORC Resource

Highlights:

·; Total Kalia I JORC magnetite mineral resource increased to 6.16 billion tonnes

- 63% increase in the measured and indicated JORC resource of the Kalia I banded iron formation ("BIF") magnetite from 670mt at 27.7% Fe to 1,095mt at 27.4% Fe

- 65% increase in overall Kalia I magnetite JORC resource (BIF and Schist) from 3.74 billion tonnes to 6.16 billion tonnes

·; 7km of the 19km Kalia I strike has been drilled to date

·; Bulk testwork has shown the magnetite can be readily beneficiated using a standard grinding and magnetic process to produce a magnetite concentrate of +68% Fe

Bellzone Mining plc (AIM:BZM), is pleased to announce an overall 65% increase to 6.16 billion tonnes in the total JORC magnetite resource at its 100% owned Kalia Mine Project in Guinea, West Africa. The updated JORC resource was prepared by independent consultant CSA Global UK.

The Kalia Mine Project has a current magnetite iron ore resource of:

The Company has now completed an 18,000m diamond drilling ("DD") infill programme, which commenced in Q3 2010, which resulted in the increase to the magnetite measured and indicated JORC resource.

The competent BIF JORC resource has increased from 3.05 billion tonnes, grading at 25.8%Fe to 4.63 billion tonnes grading at 25.9% Fe, with the softer lower grade magnetite schist inferred JORC resource increasing from 690 million tonnes to 1.53 billion tonnes.

The next phase of the Company's magnetite extension DD programme is expected to add a further 1km to the drilled strike length and to extend the resource depths. The results of the magnetite extension DD programme are expected in Q2 2012. The exploration potential of an additional 1.0 to 1.7 billion tonnes will be targeted as part of this ongoing programme.

Resource classification was based on a number of criteria, including grade interpolation parameters, geology continuity, drill core samples, survey and bulk density data, the drilling grid, Davis Tube Magnetite recovery test work and an updated preliminary Whittle optimisation assessment completed to determine project economics. The bulk test work assays and Davis Tube results provide the following product composition:

537 Davis Tube Results were completed on the BIF and schist domains to support the JORC estimate, with an ongoing testwork programme in place to further refine the quality and grade versus grind size to ensure the optimum product will be produced from the Kalia Mine.

All assay and metallurgical test work was undertaken by independent laboratories in Perth, Western Australia

The Kalia Mine Project has a current total iron ore resource of:

*estimations have been made on preliminary testwork results

** results supported by bulk testwork

Nik Zuks, Chief Executive Officer, commented: "I am pleased the target of defining one billion tonnes of measured and indicated BIF JORC resource was achieved as planned. This significant magnetite increase has been established on the back of our oxide JORC programme and further validates the creation of one of Africa's largest iron ore projects.

"The JORC increase supports our own estimate of some 10 billion tonnes of BIF across the Kalia site and the growing demand for the high quality magnetite concentrate in the steel industry, based on better furnace efficiencies and lower greenhouse emissions, underlines the strategic importance of Kalia. We now have JORC resources of more than 1.4 billion tonnes of contained iron and, in addition to the valuable partnership with China International Fund Limited, and the Forecariah JV project being on track for near-term production in Q1 of 2012, the management and operational team are continuing to work efficiently to schedule."

CSA Global UK, the independent geologists have established and certified the Company's JORC complaint oxide, Supergene BIF and magnetite resource for Kalia.

The mineral resource information disclosed in this announcement has been reviewed by Galen White (MAusIMM), Principal Consultant of CSA Global. Mr White is a member of the Australasian Institute of Mining and Metallurgy and is qualified as a Competent Person in terms of the "Australasian Code for Reporting of Exploration Results, Mineral resources and Ore Reserves (JORC Code 2004 Edition). Mr White has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking, to qualify as a Competent Person for the purposes of this announcement.

About Bellzone Mining Plc

Bellzone Mining plc is an exploration and resource development company with iron ore and nickel / copper permits in the Republic of Guinea, West Africa.

Kalia Mine

The Company's flagship project, the Kalia Mine Project, is planned to commence production in 2014 and be producing iron ore and iron ore concentrate at a rate of 50 million tonnes per annum in 2018. The Kalia Mine Project has a 6.16 billion tonnes magnetite JORC resource and an oxide JORC resource of 193 million tonnes. A Supergene BIF JORC resource of 92.5 million tonnes at 36.5% Fe has been delineated and shows the potential to upgrade to produce 37 million tonnes of 63% Fe material. The oxide and Supergene BIF resources have been established from just 10.5% of the 55km2 of the mapped surface oxides on the Kalia permit. Drilling results and internal estimates indicate that the Kalia Mine Project has the potential to host more than 10 billion tonnes of magnetite and 2 billion tonnes of oxide.

CIF - Project, Financing & Infrastructure Partner

Bellzone has a Definitive Agreement ("Agreement") with China International Fund Limited ("CIF"). The Agreement gives CIF right of first refusal to purchase the Kalia Mine Project's production at market rates and CIF commits to providing Bellzone commercially related funding for the development of the Kalia Mine Project.

The Agreement contains CIF's commitment to fund and build commercially operated rail and port infrastructure that will enable Bellzone to export production from the Kalia Mine Project. The infrastructure is being developed by Kalia Horizon Minerals Pte Limited, an entity that is 90% owned by CIF with Bellzone having a 10% carried interest. The Agreement provides for Bellzone to be the lowest cost user with permanent priority access.

Forécariah JV

Bellzone and CIF also have fully funded a joint venture to undertake the accelerated exploration and development programme at CIF's Forécariah iron permits that lie between 30 and 80 kilometres from the Guinea coast. Production is scheduled to start in Q1 2012 with an initial production rate of 3-4 mtpa of oxide ore, ramping to a rate of 10 mtpa in 2013.

Other activities

Bellzone has completed a mapping and surface sampling programme identifying highly prospective targets at its Sadeka Nickel/Copper Project. A VTEM aerial survey is currently being conducted to further define areas for a targeted drilling programme.

Bellzone has acquired the rights to buy 70% of Compagnie Miniere de L'Ouest Africain SA, incorporated and holding tenements in Mali. The company is undertaking geological studies on the tenements which are prospective for iron ore before making an investment decision.