Stage 1 Exploration Programme Update

Dated: 30 Jan 2012

Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO, AltX: KBO) the mineral exploration and development company focused on gold and nickel projects in Tanzania is pleased to provide shareholders with an operational update on the Company's gold and nickel exploration projects in Tanzania.

Summary Highlights: • Stage 1 Exploration Program nearing completion • Exploration results expected by 2Q 2012 Stage 1 Exploration Program - Tanzania

Stage 1 of Kibo's £5.3 million exploration program has involved the mobilisation of field teams for a £1.3 million work program on the Lake Victoria, Haneti and Morogoro projects in Tanzania.
The individual exploration programs at each location have targeted the most prospective licenses. Field teams have prioritised work through a review of geology, proximity to known existing deposits as well as from analysis of anomalous geochemical results from previous surveys.
Louis Coetzee, CEO of Kibo Mining, said the Company was pleased with progress to date across each of the main license areas.

"The focus has been to make best use of the funds allocated to the overall exploration program by spending time upfront on prioritising individual prospects. As the projects cover a total land area in excess of 18,000 square kilometers, this is a significant consideration," Mr Coetzee said.

Work on all the projects has been advanced in parallel, and a summary of each individual project follows.

Lake Victoria Project