Manas Resources Limited

ACN 128 042 606

Level 1, Suite 5, The Business Centre

55 Salvado Road, Subiaco WA 6008

Telephone: +61 8 9380 6062

Facsimile: +61 8 9380 6766

W www.manasresources.com

E [email protected]

3 1 O c t o b e r 2 0 1 3 A S X R E L E A S E / M E D I A R E L E A S E

RIGHTS ISSUE TO RAISE UP TO $5.5M

Manas Resources Limited (ASX-MSR) proposes to undertake a partially underwritten, pro-rata non-renounceable entitlement issue to shareholders on the basis of one new share for every two shares held at the record date at an issue price of 4 cents per share to raise approximately $5.5M together with one free attaching option (exercisable at 8 cents each on or before 31 March 2015) for every share issued (Rights Issue).
The funds raised will be used for the Shambesai Gold Project pre-development and development costs, including plant design, engineering, environmental impact studies and approvals, land acquisition, government and community relations, site works, and project finance due diligence costs, ongoing exploration and working capital.
Halcyon Corporate and Patersons Securities have been appointed Joint Lead Managers to the Rights Issue.
Managing Director Stephen Ross commented "I am delighted with the support shown by the Directors, management and the Lion Selection Group for the Rights Issue. The level of support shown pays testament to the attractiveness of the low-cost, high-margin Shambesai Gold Project. The funds raised will allow Manas to progress the development of Shambesai, as we move towards finalising project financing and commencing construction next year."
Key dates in relation to the proposed offer are noted below.

Manas Resources Limited - Entitlement Issue Page 1 of 2

31 October 2013

Manas Resources Limited

ACN 128 042 606

The Company reserves the right to amend this timetable including, subject to the Corporations Act 2001 and the
ASX Listing Rules, to extend the closing date.
Subject to finalisation of documentation, it is anticipated that Patersons Securities Limited (AFSL 239052) will partially underwrite the Rights Issue for up to $2.5M and Halcyon Corporate Pty Ltd (AFSL 416980) has introduced investors who, subject to completion of appropriate shortfall placement agreements, will subscribe for the Shortfall, if any, up to a maximum aggregate amount of $3.0M, on a pro rata basis with the Patersons amount.
The Company's directors and senior management have agreed to subscribe for their entitlements (totalling approximately $112,000) and in addition will enter into sub-underwriting arrangements for up to $421,000 of any shortfall to the Rights Issue. In addition, the Company's leading institutional shareholder the Lion Selection Group, holding approximately 7.7 %, has indicated that it will subscribe in full for its entitlement under the Rights Issue.
Details of both the underwriting agreement, including termination rights, and the shortfall placement agreement will be set out in the Prospectus to be sent to shareholders with the Entitlement and Acceptance Form.
If you have any questions in relation to the Rights Issue, please do not hesitate to contact the Company
Secretary, Susmit Shah on (08) 9380 6062.
Details of the Manas Resources 100%-owned Kyrgyz Gold Projects can be found at the Company's website www.manasresources.com
For further information contact -
Stephen Ross Simon Hinsley Managing Director Investor Relations Manas Resources Limited NWR Communications Telephone +618 9380 6062 +61 (0) 401 809 653

Manas Resources Limited - Entitlement Issue Page 2 of 2

31 October 2013