Positive Exploration Update, Kossanto Gold Project

Alecto Minerals plc / EPIC: ALO / Market: AIM / Sector: Exploration & Development

11 December 2013

Alecto Minerals plc ('Alecto' or 'the Company')

High grade grab samples provide further confidence in Massakama's prospectivity

Alecto Minerals plc (AIM: ALO), the AIM quoted mining exploration company focussed on West and East Africa, is pleased to provide a positive exploration update focussed on three target areas, Massakama and Gourbassi East and West from its 100% owned Kossanto Gold Project ('Kossanto' or 'the Project') in western Mali.

Highlights

· Expansive potential of Kossanto continuing to unfold - sampling of two newly discovered areas close to the Northern Massakama target yields positive high grade results up to 31.5 g/t Au - further exploration work planned

· Other sampling results include 18.1 g/t of gold, 9.1 g/t of gold and 4.49 g/t of gold

· 1,500m Diamond Drilling and up to 4,500m of Reverse Circulation ('RC') drilling has commenced at Gourbassi East and Gourbassi West respectively - first assay results are expected in Q1 2014

· Drilling at Gourbassi East is focussed on substantially increasing the current JORC resource of 107,000 ounces of gold, and RC drilling at Gourbassi West will serve to infill previous holes

· The first diamond hole at Gourbassi East has been completed and targets the high grade gold mineralisation identified from hole GRC16 in Q4 2012 which returned 75m @ 2.05 g/t of gold ('Au') from surface

· Completion of 65 km of road upgrade to improve access to all project areas

· Wardell Armstrong International retained as consultants

Alecto CEO Mark Jones said, "Alecto continues to make significant strides in revealing the expansive potential of our flagship Kossanto Gold Project in Mali having received exceptional high grade sampling results from two new areas of artisanal interest near to the Massakama Prospect and the commencement of an extensive drilling programme across the other two target areas Gourbassi East and West. The drilling is aimed at augmenting our current resource of 107,000 ounces and strengthening our geological understanding of both areas respectively. As the year draws to a close, we look forward to the coming months with excitement as developments across our entire African portfolio of resource assets come into fruition. Outside of Kossanto, RAB drilling of our IOCG assets in Mauritania will commence in the New Year and we are currently finalising our plans for exploration at our Ethiopian gold assets with our JV partner Centamin. We will provide an update regarding forthcoming activities at these prospective projects in the coming weeks."

Sampling Programme

Results from the sampling of two newly discovered artisanal mining areas to the north-west and south-west of the Massakama Prospect in the west of the Kossanto Project have yielded positive and high grade results. In both areas intensive artisanal workings target visible gold in smokey quartz veins hosted in felsic to intermediate intrusives and volcanics. 39 samples were taken at the South Western project, with all samples showing positive assays for gold with a high of 4.49 g/t Au and an average of 0.33 g/t Au. A channel sample taken across the bottom of the open excavation reported back at 26m @ 0.24 g/t Au including 5m @ 0.45 g/t Au.

At the NW orpaillage zone of 'Goureba', north east striking smokey quartz veins with visible gold and arsenopyrite are being mined by artisanal miners. Seven samples were taken with an average grade of 8.47 g/t Au and a high of 31.5 g/t Au.

A table of the best results is included below.

Further work is planned for both areas to better understand the vein density, orientation and extent of the mineralisation ,to be followed up by first pass RAB drilling.

Commencement of Drilling

Alecto's first diamond drilling programme has commenced at its 100% owned Kossanto Project in western Mali. Drilling at the Kossanto Project will comprise of 1,500m of diamond drilling and up to 4,500 m of RC drilling over the two previously drilled prospects of Gourbassi East and West. The first diamond hole targets the high grade gold mineralisation hosted in strongly altered felsic volcanics from GRC16 drilled in Q4 2012 which returned 75m @ 2.05 g/t Au from surface. The new diamond hole has already reached 80m and contains strong alteration and sulphide mineralisation, cut by various fractures and shears.

Completion of this hole will be followed by RC drilling and more diamond core planned to test the mineralisation potential at depth and to the SW of the Main Zone to substantially increase the 107,000 ounce resource, then infill drilling at the Gourbassi West prospect. First results are expected to be received in Q1 2014.

Also, other activities include the completion of a road upgrade using a D6 Caterpillar Bulldozer to improve the 65km track running from the mine maintained road to the east of Kossanto all the way to the western most prospect of Massakama. Work completed by the contractors included four days of drill pad clearing at both Gourbassi East and West, with the entirety of the planned priority 1 and 2 drill hole pads prepared. Finally, a new core shed for the storage and detailed logging of the diamond core is near to completion in anticipation of the current drilling programme underway.

Moreover, the Company has contracted Wardell Armstrong International as external consultants on the project. A senior consultant is currently on site with the Alecto team to ensure that the exploration and drilling programmes are managed in accordance to the highest international standards. This will facilitate any further award of JORC resources should results from drilling provide the opportunity.

**ENDS**

For further information, please visit www.alectominerals.com or contact:

Mark Jones Alecto Minerals plc Tel: 020 3137 8862

Jonathan Evans Fox-Davies Capital Ltd Tel: 020 3463 5000

Jon Belliss XCAP Securities plc Tel: 020 7101 7070

Elisabeth Cowell St Brides Media & Finance Ltd Tel: 020 7236 1177

Felicity Edwards St Brides Media & Finance Ltd Tel: 020 7236 1177

Notes

Alecto Minerals Plc is an African focussed, gold and base metal exploration and development company listed on AIM.

The on-going development of the Kossanto Gold Project in Mali is the Company's predominant focus and with significant value upside potential evident across the tenure, the Board plans to build on its current gold resource of 107,000 ounces in the near term. Alecto also has a joint venture with Centamin over two prospective gold exploration licences in Ethiopia which sees Alecto retain exposure to the assets with no capital expenditure, as well as the wholly owned Wad Amour IOCG Project in Mauritania which is at exploration status. Combined, these projects provide the Company with a strong, diversified portfolio with exciting exploration upside potential.