MC MINING LIMITED — Capital/Financing Update 2009

Nov 2, 2009

3 NOVEMBER 2009

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ANNOUNCEMENT

SECONDARY TRADING NOTICE

Coal of Africa Limited ('CoAL' or the 'Company') confirms it has today issued 59,867,731 ordinary shares to sophisticated and institutional investors who are clients of J.P. Morgan Cazenove, Evolution Securities and Mirabaud Securities at an issue price of 95 pence per share.

Following the admission of the Shares, the number of Ordinary Shares on issue will be 474, 242,606

An Appendix 3B was lodged on 30 October 2009.

Secondary Trading Notice Pursuant to Paragraph 708A(5)(e) of the Corporations Act 2001 ("Act")

The Act restricts the on-sale of securities issued without disclosure, unless the sale is exempt under section 708 or 708A of the Act. By giving this notice, a sale of the Shares noted above will fall within the exemption in section 708A(5) of the Act.

The Company hereby notifies ASX under paragraph 708A(5)(e) of the Act that:

• (a) the Company issued the Shares without disclosure to investors under Part 6D.2 of the Act;

• (b) as at 3 November 2009, the Company has complied with the provisions of Chapter 2M of the Act (other than section 319 in relation to a financial year ended in the calendar year 2004) as they apply to the Company, and section 674 of the Act; and

• (c) as at 3 November 2009 there is no information:

• a. that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and

• b. that investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:

  • i. the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

  • ii. the rights and liabilities attaching to the relevant Shares.

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AUTHORISED BY:

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Shannon Coates Company Secretary

For more information contact:

Simon Farrell, Managing Director CZA +61 417 985 383 or +61 8 9322 6776 Peter Bacchus/ Alastair Cochran Morgan Stanley +44(0) 20 7425 8000 Simon Edwards/ Chris Sim Evolution Securities +44(0) 20 7071 4300 Jos Simson/ Leesa Peters Conduit PR +44(0) 20 7429 6603

About CoAL:

Coal of Africa Limited (“CoAL”) is primarily focused on the acquisition, exploration and development of thermal and metallurgical coal projects. The Company’s key projects, along with its leading metals processing company NiMag Group (Pty) Ltd are in South Africa. The Company was incorporated in Western Australia and listed in 1980. Since 2005, the Company has also listed on both the AIM and JSE markets, allowing further growth in the Company’s coal assets.