Notice of EGM

Thursday 3 March 2011

Bellzone Mining plc

("Bellzone" or the "Company")

Notice of EGM

Bellzone Mining plc (AIM: BZM), the iron ore and nickel/copper company operating in West Africa, announces that, further to the results of the Institutional Placing announced on 2 March 2011, the Company has today posted to shareholders a circular including a notice convening an Extraordinary General Meeting ("EGM").

The EGM will be held at the registered office of the Company at Channel House, Green Street, St Helier, Jersey JE2 4UH (the "Registered Office") at 10.30 am Jersey time (6.30 pm Australian Western Standard Time) on Monday 21 March 2011.

To facilitate the participation of shareholders based in Australia at the EGM, the Directors have resolved that a satellite meeting will be held at the Company's office in Perth located at Level 3, 88 Colin Street, West Perth, WA 6005, Australia.

The satellite meeting will be linked to the principal meeting at the Registered Office by a video-conferencing facility. All shareholders who plan to attend the satellite meeting should arrive at the venue no later than 5.45 pm (Australian Western Standard Time) on Monday 21 March 2011.

At the EGM, resolutions will be proposed to grant new authorities and powers to the Directors to permit them, inter alia, to allot 102,000,000 Ordinary Shares on a non pre-emptive basis pursuant to the Institutional Placing.

A copy of the circular is available on the Company's website at www.bellzone.com.au.

Terms defined in the Company's announcement of 4.42 p.m. on 1 March 2011 shall have the same meaning in this announcement unless the context otherwise requires.

Enquiries:

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.

The Company's flagship project, the Kalia iron mine, has a JORC resource of 3.74 billion tonnes, located on the Kalia I prospect. Drilling results and internal estimates indicate that Kalia prospect has the potential to host more than 10 billion tonnes of magnetite and 2.55 billion tonnes of potential oxide at surface.

In addition to the Kalia iron mine, an exploration and development programme is currently underway at the China International Fund ('CIF') held Forécariah iron permits that lie between 40 and 80 kms from the Guinea coast. Bellzone and CIF are jointly developing these near term production permits which are prospective for oxide and magnetite. The development plan is designed to support an initial production target rate of 3-4 mtpa of direct shipping ore ('DSO') in Q1 2012 ramping up to a target rate of 10 mtpa by 2013.

Bellzone is committed to the staged development of the Kalia iron project, which includes a 50mtpa iron ore facility, rail and port, with initial production scheduled in 2014. Stage one is planned to bring online 20mtpa direct shipping ore ('DSO') capacity in 2014 and a 10mtpa magnetite concentrator in 2015. Stage two increasing the DSO output to 30mtpa in 2017 and doubling the concentrate capacity to 20mtpa by 2018.

Bellzone signed an Infrastructure Accord with the Republic of Guinea giving the Company exclusive rights to the designated port and rail areas for purposes of conducting studies for the development of the infrastructure leading to the signing of a convention and concession. The infrastructure forms a key part of the Guinea Government's infrastructure strategy and will support the development of iron ore, bauxite and other minerals in Guinea through its availability for third party use.

On 2 August 2010, Bellzone announced signed definitive agreements with CIF. CIF will finance and develop the rail and port infrastructure and offer a finance package to Bellzone for the development of the Kalia mine in exchange for the first right to purchase 100% of the off-take of the Kalia mine at market price.