Kagara Ltd : Competion of Sale of North Queensland Central Region

ASX ANNOUNCEMENT MEDIA RELEASE 29 JANUARY 2013 Completion of Sale of North Queensland Central Region

The Administrators of Kagara Limited (Administrators Appointed) ("Kagara") and its three wholly-owned subsidiaries ("the Group")* are pleased to announce that Kagara and one of its wholly owned subsidiaries, Einasleigh Mining Pty Ltd (Administrators Appointed) completed the sale of part of the Group's assets in the North Queensland known as the Central Region on 25 January 2013.
Snow Peak Mining Pty Ltd ("Snow Peak Mining") has paid the initial amount of the purchase price, being $19,276,170. The final part of the purchase price, being the deferred component of $10 million (subject to certain agreed adjustments) is due to be paid by 28
February 2013. Also, Snow Peak Mining has provided cash backing in the amount of $10.7 million for environmental bonds in relation to the assets it has acquired. As previously
noted, Snow Peak Mining is a company associated with Consolidated Tin Mines
("Consolidated Tin") (ASX: CSD).
The sale sees the acquisition by Snow Peak Mining of all of the Group's assets in the Central Region, including the resources and processing plant at Mt Garnet; the Balcooma and Baal Gammon mining areas; and the Einasleigh and Maitland exploration projects.
Consolidated Tin Managing Director, Ralph De Lacy, said: "The completion of this acquisition by our major shareholder is a considerable step forward for Snow Peak Mining and Consolidated Tin. The acquisition has been completed on schedule and could only have been achieved through the excellent cooperation between all the stakeholders. We are also very pleased to welcome the former Kagara employees that have joined us and we look forward to their continued support and commitment to the project."
Michael Ryan of Taylor Woodings, said: "The Administrators are pleased to see the sale of the Group's Central Region projects completing and wish to thank again the Kagara staff, both those remaining and a number who will be transferring to Snow Peak Mining, for their assistance through this process. We would also like to thank Ralph De Lacey of Snow Peak Mining and his team for their excellent cooperation."
The proceeds from the sale will largely be used to pay down the Group's secured debt, trading costs, and administration expenses, with the balance to be retained for working capital.
Any queries with respect to Snow Peak Mining and Consolidated Tin should be directed to Consolidated Tin on [phone] or visit its webpage www.csdtin.com.aufor further information.

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ASX ANNOUNCEMENT MEDIA RELEASE 29 JANUARY 2013

Interested parties, creditors and other enquiries for Kagara should contact Taylor Woodings on [phone] / [phone] or visit its webpage www.taylorwoodings.com.aufor further information.
* Michael Ryan, Mark Englebert, Stefan Dopking and Quentin Olde, all of Taylor Woodings, were appointed joint and several voluntary administrators of Kagara Ltd, Kagara Copper Pty Ltd, Mungana Pty Ltd and Einasleigh Mining Pty Ltd on 29 April 2012.

-Ends- About Snow Peak Mining

Snow Peak Mining is a subsidiary of Hong Kong-based investment group Snow Peak
Investment Pty Ltd, which is Consolidated Tin's major shareholder.

About Taylor Woodings

Taylor Woodings is a national independent accounting firm specialising in the areas of restructuring, corporate recovery, advisory and transaction services, and forensic accounting. For more information please see www.taylorwoodings.com.au.

FURTHER INFORMATION: TAYLOR WOODINGS: Interested Parties/Creditors Media Enquiries

Taylor Woodings Ian Pope - [phone] or 0416 826 037 (08) 9321 8533 or [phone] MAGNUS Investor Relations + www.taylorwoodings.com.auCorporate Communication

FOR SNOW PEAK MINING Consolidated Tin Mines [phone] www.csdtin.com.au

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