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Update on Proposed Acquisition by Opera of the Imweru and Lubando Gold Projects from Kibo Mining plc (“Kibo”)

02 March 2017

Further to the announcements made by Kibo and Opera on 23 September and 2 December 2016, Opera and Kibo are pleased to announce the following update on the proposed transaction by Opera to acquire the Imweru and Lubando Gold Projects from Kibo (“the Proposed Transaction”). Opera and Kibo are pleased to confirm that the transaction documentation in connection to the Proposed Transaction is nearing completion.

Resource Update on Imweru and Lubando Gold Projects

As part of the Proposed Transaction, under applicable regulation and commercial requirements, Opera has commissioned an appropriately qualified expert, Minxcon (Pty) Ltd, to undertake a Competent Person’s Report, an evaluation of the geological assets to be acquired from Kibo by Opera. As part of this review, the directors of Opera and Kibo have received an update to the resources of Imweru and Lubando Gold Projects.

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Update on Proposed Acquisition by Opera of the Imweru and Lubando Gold Projects from Kibo Mining plc (“Kibo”)

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