Requisition of General Meeting Update

1 April 2015

Mwana Africa PLC

("Mwana" or the "Company")

Requisition of General Meeting Update

Further to the announcement made by the Company on 2 March 2015, Mwana wishes to provide an update in respect of the notice to convene a general meeting of the Company's shareholders (the "Requisition") pursuant to section 303 of the Companies Act 2006 (the "Act") by Mr Ian Dearing and other shareholders (the "Requisitioners"), as further described in the previous announcement.

Mwana has concluded its investigation into the validity of the Requisition of a general meeting and concluded that following the withdrawal from the Requisition of one of the original parties to it, the Requisitioners do not have sufficient support at the current time to require the directors to convene a general meeting under the Act.

Correspondence has been received from solicitors acting for Mr Dearing disputing the Company's position, and threatening to attempt to try and convene a meeting of shareholders directly under section 305 of the Act. This position is rejected by the Company, which has reserved all its rights in the event of an attempt by Mr Dearing to convene a general meeting on the basis of the current level of support for the Requisition.

Shareholders are advised to take no action at this time. Further announcements will be made as required in due course.

Separately, Mwana also announces today that it will be publishing its Quarterly Operational Update for the three months ending 31 March 2015 on 16 April 2015.

For further information please visit www.mwanaafrica.com or contact: