Transfer of Kibo Shares to Sanderson from Company’s Treasury Account

8th September 2016

Kibo Mining plc ('Kibo' or the 'Company') (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company has today issued 2,712,477 Ordinary Shares (the 'Conversion Shares') in the capital of the Company to Sanderson Capital Partners Limited ('Sanderson') from a Company held forfeited share treasury account ('Treasury Account').

The Conversion Shares were issued as part of the settlement under the re-negotiated terms for payback of the loan facility (the 'Facility') from Sanderson, the full details of which were recently announced in the Company's RNS of 01 September 2016. The Conversion Shares will be issued to Sanderson at a price of 5.53p per share, being the Kibo closing price on 1 September 2016 (the 'Conversion Date') for a value of £150,000. As notified in the Company's announcement on 1 September 2016, the Facility amount of £1,500,000 converted to a 2.5% equity interest in the MCPP project Company on the Conversion Date.

The Conversion Shares were issued to Sanderson from the 4,090,000 forfeited shares ('Forfeited Shares') held by the Company in the Treasury Account since 23rd June 2015 and have already been admitted to trading on AIM. An application for the Conversion Shares to be admitted to trading on the JSE AltX markets is required ('JSE Admission'), and pending approval for JSE Admission, trading on the JSE will commence on or around 9th September 2016. On completion of JSE Admission the Company's shares in issue will remain at 355,603,745 with a reduction in the number of Forfeited Shares in the Company's Treasury Account to 1,377,523.

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