Manas Resources Limited ACN 128 042 606

Level 1, Suite 5, The Business Centre

55 Salvado Road, Subiaco WA 6008

Telephone: +61 8 9380 6062

Facsimile: +61 8 9380 6766

W www.manasresources.com

E ross@manasresources.com

2 4 M a r c h 2 0 1 5 A S X R E L E A S E / M E D I A R E L E A S E MANAS RESOURCES RESEARCH NOTE BY VICARAGE CAPITAL

Manas Resources Limited (ASX‐MSR) advises that Vicarage Capital Limited, a UK based brokerage specialising in precious & base metal focused exploration, development and production stage companies has issued an updated research note on the Company and its lead project, the Shambesai Gold Project.
Vicarage Capital initially issued a research note in August 2013 after undertaking a site visit to the Shambesai Gold Project and subsequent research on the Kyrgyz business environment for mining companies. The recently updated March 2015 research note (paid for by Manas) includes the latest Bankable Feasibility Results and an update to the permitting for Manas's 100% owned Shambesai Gold Project and is available on the Company's website at www.manasresources.com.
Details of the Manas Resources 100%‐owned Kyrgyz Gold Projects can be found at the Company's website www.manasresources.com
For further information contact -
Stephen Ross
Managing Director

Manas Resources Limited

Telephone +618 9380 6062
Nathan Ryan
Investor Relations

NWR Communications

+61 (0) 420 582 887

Manas Resources Limited - Vicarage Update Page 1 of 1

24 March 2015

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