TULU KAPI DRILLING UPDATE

Nyota Minerals Limited ("Nyota" or the "Company")

Tulu Kapi Drilling Update

Highlights

·; Assay results for a further 32 diamond and reverse circulation drillholes covering the main Tulu Kapi ore body and step-out targets

·; Positive infill results underpin Tulu Kapi's resource base

·; Near surface intercepts appear advantageous for near-term production

·; New areas of mineralisation intersected within Tulu Kapi's extension areas

·;   Excellent progress made with engineering and hydrogeological drilling forming part of the Definitive Feasibility Study

Nyota Minerals (ASX/AIM: NYO), the gold exploration and development Company in East Africa, is pleased to provide shareholders with an updated drilling report for both the main Tulu Kapi ore body and its known extensions.

Drill results will continue to be reported and data accumulated ahead of a resource statement update, provisionally scheduled for the first quarter 2012.

Richard Chase, Chief Executive Officer commented "The new assay results provide infill data that will help further upgrade the Tulu Kapi resource. However, their real significance is that they provide ongoing proof of the existence of potentially substantial extensions to the main Tulu Kapi ore body. The latest interpretation suggests that the N. Extension and NE Extension - UNDP Targets along with the Feeder Zone have the most potential to deliver significant additional gold ounces.

"Drilling these extensions and the conversion of the bulk of the resource to an Indicated Resource status is one of the three strategic objectives set by Nyota for 2011/12, designed to underpin the value of our gold assets as the Tulu Kapi project approaches production. At the same time, the Company has made further progress in the delivery of important engineering and geotechnical data required as part of the Definitive Feasibility Process". 

Overview of Drilling Results

38 holes completed. Sample assay results for 32 have been returned. 11 of the diamond drillholes are extensions of reverse circulation drillholes; 7 of which are pre-existing holes and 4 are new holes reported here.

All reported intercepts are "down the hole" and do not necessarily represent true widths.

Tulu Kapi Infill

·; Positive results underpin a robust Tulu Kapi resource;

·; Peak intersections including 8.74g/t Au over 15.95m and 2.15g/t Au over 16.25m;

Near-surface drill results

·; Very encouraging near-surface intersections made over substantial widths;

·; New intercepts expected to benefit early production;

SW Extension

·; Mineralisation identified beyond the previous limits of the known resource;

·; Peak intersections include 1.52g/t Au over 24.0m and 1.13g/t Au over 22.70m;

SE Extension

·; Previously unknown near-surface mineralisation intersected;

·; Peak intersections include 2.17g/t Au over 19.75m;

N. Extension

·; Highly encouraging results indicate possible further extensions to the N, S and E of the current target area;

·; Peak intersections include 23.70g/t Au over 1.0m and 6.02g/t Au over 6.0m;

NE Extension - UNDP

·; Mineralisation intersected in area previously thought to be barren;

·; UNDP drill target area expanded by 450m by 160m;

Engineering (Hydrology) Drilling

·; Excellent progress made with engineering and hydrogeological drilling forming part of the Definitive Feasibility Study.

Detailed Drilling Results

Tulu Kapi Infill Drilling

A total of 11 DDH totalling 3,905.12 metres and 1 RC drillhole totalling 200 metres have been completed as part of the on-going infill drill programme where holes have been sited over the existing orebody.

Infill holes drilled to intersect the majority of the known lode structures have continued to return economic grades that demonstrate continuity of mineralisation and will help to maintain the overall Mineral Resource grade, which increased to 2.84g/t Au at the time of the last resource statement update. Peak intersections are illustrated below in Table 1.

Table 1: Tulu Kapi Infill Drilling Peak Intersections

Near-Surface Infill and Step-Out Drilling

More importantly, infill and step-out drilling has intersected a high number of economic intersections at or near surface that can be expected to benefit Project economics during initial development of the open pit. Significant near-surface grades occur over notable mineralised widths peaking at 18.00, 19.75 and 24.00 metres. Peak intersections are illustrated below in Table 2.

Table 2: Recent Peak near-Surface Gold Intersections for Tulu Kapi Infill and Step-Out Drilling

Further infill drilling is taking place and any additional assay data generated up to the beginning of December will be included in the subsequent resource estimate update.

SW Extension

Nine holes were drilled totalling 2,835 metres. Of the seven DDH drilled (2,489m), four returned encouraging results peaking at 1.52g/t Au over 24.0m, 1.13g/t Au over 22.70m and 1.11g/t Au over 17.37m, two holes returned no significant assays and one hole has assays pending. The two RC holes drilled (346m) are both awaiting assay results.

Drilling has proven the presence of economic mineralisation beyond the previous limits of the ore body and the interim pit outline has been extended to accommodate this mineralisation. Further drilling is required to test for further extensions.

SE Extension

Drill results for the four DDH and RC holes drilled have improved the understanding of the geology of the SE quadrant of Tulu Kapi and added to the resource. In particular, two near-surface intersections of 2.17g/t Au over 19.75m and 0.92g/t Au over 13.65m are expected to benefit early production and have generated new down-dip targets that require follow-up. The location of the Bedele Shear is likely to limit further extensions to mineralisation in this corner of the deposit.

N. Extension

The N. Extension is one of the areas expected to result in further increases in the resource. Step-out drilling is continuing based on the positive results from the ten most recent DDH and RC holes drilled. Peak intersections are illustrated below in Table 3.

Table 3: Peak Drill Intersections for N. Extension

Further potential exists to the north, southwest and east of the current delineated mineralisation. A major fault broadly oriented E - W intersects the N. Extension and on-going drilling will continue to step-out around known mineralisation and test for the displaced mineralisation that is expected to occur north of the same fault.

The original N. Extension mineralisation intersected was assumed to occur beyond the limits of the open pit and was to be mined via a cross-cut from the decline designed to access the Feeder Zone. If the tenor of the latest intersections can be extended to include subsequent step-out drilling, the possibility exists that the N. Extension could be incorporated into the Tulu Kapi pit profile or established as a separate secondary open pit.

Further step-out drilling is on-going and results will be included in the next resource estimation update.

NE Extension - UNDP

Two speculative holes have been drilled along what is presumed to be the southernmost limit of the UNDP Target. Whilst the intercept grades were lower than that achieved elsewhere at Tulu Kapi an intersection of 0.48g/t Au over 14.12m in an area previously thought to contain no mineralisation represents an important discovery. At present, the UNDP Target is defined by wide-spaced drilling which has broadly defined a number of stacked mineralised lode structures which are ready for follow-up infill drilling aimed at defining an initial Inferred Resource. What is now apparent is that the UNDP Target area needs to be notionally extended a further 160m south of the previously assumed southern limit of mineralisation over a width of approximately 450m. Subject to future drilling results, this potentially represents a further resource treatable through the planned Tulu Kapi plant. It is unlikely that the UNDP mineralisation will be incorporated into the Tulu Kapi open pit and planning is currently assuming UNDP will remain a secondary pit.

Engineering Drilling

A total of 34 hydrogeological holes have been drilled to assist with mine planning and environmental monitoring. Holes have been drilled as twin holes, one shallow hole to intersect a perched water table in the saprolite horizon and the second to intersect the main water table. All holes have been drilled, cased and are monitored according to protocols provided by independent consultants. Some additional hydrogeological holes will be required in the near future with reference specifically to the location of a portal for a decline and deeper water level monitoring in the Feeder Zone. Additional engineering drilling is also anticipated to assist with pit slope design and condemnation drilling for the plant, waste rock and tailings dam sites.

TO VIEW FIGURE 1 (TULU KAPI DRILL PLAN HIGHLIGHTING DRILLHOLES REPORTED IN THIS ANNOUNCEMENT) PLEASE CLICK ON THE FOLLOWING LINK:

http://www.rns-pdf.londonstockexchange.com/rns/1091R_-2011-10-31.pdf

Information on assay data and drilling

RC and DDH drilling follow standard protocols that have been validated and refined by a number of independent consultants who have visited the Tulu Kapi site and monitored drilling operations.

Sampling protocols and sample preparation procedures employed in the laboratory located at Tulu

Kapi and operated by ALS Chemex have also been reviewed and found to be of an appropriate standard.

The Company inserts standards, blanks and duplicates in all its sample batches dispatched for assay and implements strict QA/QC procedures to monitor the assays attributable to these standards, blanks and duplicates.

Estimation of grade and mineralised widths

A cut‐off was employed of 0.40g/t Au for saprolite and 0.50g/t Au cut‐off for fresh rock. Any intercept of less than the respective cut‐off was excluded from any grade and mineralised width estimate except where an individual sample of 1.0m or less occurred between samples returning grades higher than cut‐off in which case single samples of 1.0m or less that were below the cut‐off would be included in a mineralised intersection.

The Tables below lists all mineralised intersections achieved since the last drilling update based upon a 0.40g/t Au and 0.50g/t Au cut‐off.

Tulu Kapi Infill Drill Results

Table 4 - 1: DDH Infill

Table 4 - 2: RC Infill

SW Extension Drill Results

Table 5 - 1: DDH Results

Table 5 - 2: RC Results

SE Extension Drill Results

Table 6 - 1: DDH Results

Table 6 - 2: RC Results

N. Extension Drill Results

Table 7 - 1: DDH Results

Table 7 - 2: RC Results

NE Extension - UNDP Drill Results

Table 8 - 1: DDH Results

Table 8 - 2: RC Results

Drill Hole Summaries

Table 9 - 1: DDH Statistics

Tail Ref: A number of holes were drilled as diamond tail holes. Previously drilled RC holes were used as the basis for extension of drilling using diamond drillhole extensions from the basis of the previously drilled RC hole.

Table 9 -2: RC Drillhole Statistics

Engineering Drilling

Table 11: Hydrological Drilling

The technical exploration and mining information contained in this Announcement has been reviewed and approved by Mr D Hage Pr.Sci.Nat, Chief Geologist for Nyota Minerals Limited. Mr Hage has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity to which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves and as a qualified person under the AIM Note for Mining, Oil and Gas Companies. Mr. Hage is an employee of Nyota Minerals Limited and is a Member of the South African Council for Natural Scientific Professions (SACNASP). Mr Hage consents to the inclusion in this Announcement of such information in the form and context in which it appears.

For enquires please contact:

Richard Chase (CEO)

Nyota Minerals Limited

+44 (0) 20 7400 5740

[email protected]

NOMAD

Anthony Rowland / Jen Boorer

Ambrian Partners Limited

+44 (0)20 7634 4700

BROKER

Guy Wilkes

Ocean Equities Limited

(+44) (0) 20 7786 4370

BROKER

Rory Scott

Mirabaud Securities LLP

(+44) (0)20 7878 3360

FINANCIAL PR

Paul Youens / Jos Simson

Tavistock Communications

(+44) (0)20 7920 3150

Or visit: http://www.nyotaminerals.com

Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.