Shareholder Update on General Meeting

18 April 2016

Nyota Minerals Limited

('Nyota' or 'the Company')

Shareholder Update on General Meeting

Response to Share Price Movement

The Board notes the recent share price movement and is aware of discussion on social media and bulletin boards concerning proposed changes to the Board composition and a possible move into the FinTech sector.

The Board provides the following update to Shareholders:

1. As previously announced, the Board resolved to call a general meeting of shareholders whereby all shareholders will be provided with the opportunity to vote on the composition of the Board once a valid alternate Board had been nominated and properly vetted. No valid requisition for an EGM (for the removal and appointment of Directors) has been received from any shareholders.

The Directors confirm that as of 15 April 2016 they have received the necessary completed questionnaires from three nominated potential directors that could constitute a new Board and that the necessary background checks on them, in order to satisfy the requirements of the Corporations Act (2001) and the listing rules of ASX and AIM, have been substantially completed. Some statutory and other original documents required for the appointment of a director are still to be received.

As a result, the Board expects the notice of meeting to be published later this week. Shareholders should note that there is a statutory 28 day notice period for the meeting.

2. In respect of the Company's future business strategy, current shareholder activism has, as previously reported, had an adverse impact on the Board's ability to progress any meaningful discussions on new potential investment opportunities. Unless and until the composition of the Board has been resolved and shareholder support restored, the Company's ability to progress new business opportunities is negligible.

The Company will keep shareholders updated through further market announcements.

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

**ENDS**