Update on Disposal of 49% shareholding in Ezimbokodewni

Update on disposal of 49% shareholding in Ezimbokodweni Mining (Pty) Ltd
(the “Disposal”)

In the circular posted to shareholders on 16 March 2012 the Company informed
shareholders that the estimated date for completion of the Disposal was 15 May
2012. The transaction has not as yet completed however the Board can confirm
that negotiations for the Disposal remain ongoing. A further announcement will
be made in due course.

For further information please contact:

Andrew Heller, Bisichi Mining PLC 020 7415 5030