14 November 2013

Nyota Minerals Limited

(?Nyota? or ?the Company?)

TULU KAPI EXPLORATION LICENCE RENEWAL

Nyota Minerals Limited (ASX/AIM: NYO), the gold exploration and development company in East Africa, is delighted to announce that it has received approval from the Ethiopian Ministry of Mines for the renewal of the exploration licence covering the Tulu Kapi Gold Project (?Tulu Kapi?).

The renewal runs until 26 May 2014, prior to which date a further renewal for one year can be applied for under existing Ethiopian legislation. Annual renewal of licences in Ethiopia is subject to satisfactory performance during the past year and approval of the work programme and budget for the next. 

The renewal of the exploration licence is based on the work programme that was recently submitted jointly with the new development partner (?Partner?) to whom Nyota is currently negotiating to sell a 75% interest in Nyota Minerals (Ethiopia) Limited, the subsidiary which holds the Tulu Kapi and proximal exploration licences.  Further details can be found in the Quarterly Report announced on 31 October 2013..

Further to the announcement on 24 October 2013, negotiations with the Partner are progressing constructively and documentation is in a near final form and remains subject to conditions precedent as previously announced, including the Partner completing its fundraise.  Nyota expects to make an initial draw down under the short term secured loan facility that has been made available in support of the envisaged transaction, shortly.

Richard Chase, Nyota's Chief Executive Officer, commented, "Confirmation of the approval of the Tulu Kapi exploration licence by the Ethiopian Ministry of Mines clearly demonstrates the continued goodwill of all parties to achieve a successful outcome to negotiations with our new development partner and the advancement of Tulu Kapi towards gold production.  I look forward to providing further updates regarding negotiations with our new development partner and the Tulu Kapi work programme in due course.?

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

Susie Geliher

St Brides Media & Finance Ltd

3 St Michael?s Alley, London, EC3V 9DS

www.stbridesmedia.co.uk   

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