Substantial Shareholder Transaction

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

2 December 2011

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

Substantial Shareholder Transaction

Alecto Minerals plc, the AIM listed resource investment company focussed on Africa, was today notified that O'Connor International Limited, a company in which independent consultant John O'Connor is a 100% shareholder, has transferred, in an off-market transaction, 8,000,000 ordinary shares in the Company, representing 4.09% of the entire issued share capital, to Turril Ireland Limited, in which O'Connor International Limited holds 50%. 

Subsequent to this transaction, O'Connor International Limited is now interested in 13,777,778 ordinary shares, representing 7.06% of the Company's total issued share capital, and Turril Ireland Limited is interested in 8,000,000 ordinary shares, representing 4.09%.

**ENDS**

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

Notes:

Alecto Minerals plc is an AIM listed exploration company focussed on Africa with a diverse portfolio of exploration assets in Mauritania and Ethiopia. In Mauritania, it has three gold and base metal development licences totalling 1,902 sq km and two uranium licences totalling 1,592 sq km in the highly prospective Mauritanide mobile belt. It also holds the 1,953 sq km gold exploration licence in the highly prospective Aysid-Metekel region of north western Ethiopia and the 945 sq km Wayu Boda gold licence in the mineral-rich central-southern Adola greenstone belt in southern Ethiopia. 

The Company is committed to conducting exploratory work across its portfolio, designed to strengthen its knowledge of the assets and delineate targets for further exploration. In tandem, the Board continues to evaluate a number of synergistic assets to build shareholder value.