Phase 2 Drilling - Progress Report

8 March 2012

Sovereign Mines of Africa PLC

("SMA" or "the Company")

Phase 2 Drilling - Progress Report

On 26 January, the Company reported that from its maiden 3,009 metre reverse circulation ("RC") drilling campaign it had identified wide intervals of significant gold, including 6.40 grammes per tonne ("gpt") over nine metres, 2.58 gpt over 14 metres and 2.08 gpt over 24 metres, intersected in 21 initial drill holes at the Company's Mandiana-Magana project in the Republic of Guinea, West Africa.

The Company can now report that it has successfully completed one week ahead of schedule another 4,000 metres of RC drilling as part of its Phase 2 campaign to test the proximal strike extensions of the mineralized zones. Also as part of Phase 2, it will now commence 1,000m of diamond ("DC") drilling.

John Barry, SMA's Director of Exploration, commented:

"The pace of progress we have made in our early drilling campaigns is testimony to the exceptional skill and application of our teams on the ground. We fully intend to maintain this momentum in the months ahead."

The Company is continuing to progress exploration at its other exploration projects in Guinea, principally, Marela, Dalagna, and Kouroussa - which will assist in identifiying the best potential drill targets.

As before, shareholders will be kept informed of material developments as they occur.

Qualified Person

The technical information in this announcement has been reviewed by John Barry, P.Geo, Exploration Director of the Company, a Competent or Qualified Person as defined by PERC, JORC and NI 43-101.

Ends

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