Mbeya Coal to Power Project: Response to Market Speculation

04 March 2016

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development company, notes recent speculation relating to the Company’s announcements released this week (RNSs dated 2^nd and 3^rd March 2016) regarding the Mbeya Coal to Power Project (“MCPP” or “the Project”).

The Company would like to reassure shareholders that timelines related to the Project remain on track, specifically in relation to the timely delivery of the Definitive Feasibility Studies (“DFS”) on the power and mining elements of the MCPP and the MCPP Integrated Bankable Feasibility that will follow completion of the DFS’. In order to provide shareholders with a clear understanding and outline of the current and future status of the MCPP, both in terms of the mining and power components, the Company is currently working on a process clarification and timeline which will be shared via the Company’s website. This will provide more insight into the complexity and various workflow interdependencies within the process and the timeline will enable shareholders to visualise and follow progress at the Project.

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