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Kaboko Mining Ltd, Update: Zambian Project

The board of Directors of Kaboko Mining Ltd (“Company” or “Kaboko”) is pleased to advise that exploration drilling at the Mansa, Northern Zambian Manganese Project has been completed. The initial plan of 60m deep holes was expanded with 4 additional holes to a depth of 200m. The samples are currently with the laboratory for assaying and once results are available the Company’s independent contractor, Minxcon, will complete its report on the project, which includes establishing a maiden JORC compliant resource statement. Visual results to date indicate significant intersections which, upon confirmation of latest results, go a long way towards establishing a minimum 10 year mine plan.

Production at the Mansa, Northern Zambian Manganese mine is currently at approximately 5,000 tonnes per month, with the company now having 10,000 tonnes of stockpiled ore and an additional 30,000 tonnes of detrital over-burden to be processed. The Mobile crushing plant has now reached the mine and construction of the stationary plant will commence the moment geologists have cleared the development area. This area had to be moved as it potentially would have limited the pit expansion. The Company has also been working with the Zambian Government to improve logistics from mine site to port, in Dar es Allam (Tanzania). It is anticipated that logistics will improve and exports continue during the on-coming wet season with the implementation of a new export strategy. The Company will develop its already owned siding near Serenje to allow for more service providers to be utilized. The Company is also currently reviewing its local partnerships and the development and expansion there-off.

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