MINBOS RESOURCES LIMITED — AGM Information 2013

Nov 24, 2013

25 November 13

ASX Code: MNB PERTH OFFICE Level 1, 278 Stirling Hwy Claremont WA 6010 Australia

T: +61 8 9322 9295 E: info@minbos.com W: www.minbos.com

ABN: 93 141 175 493

ASX ANNOUNCEMENT/MEDIA RELEASE

CHAIRMAN’S ADDRESS TO SHAREHOLDERS

ANNUAL GENERAL MEETING 25 NOVEMBER 2013

Good afternoon, and welcome to the Annual General Meeting of Minbos Resources Limited for 2013.

My name is Scott Sullivan and I am the Managing Director and Executive Chairman of the Company.

Today we have nine resolutions to consider:

However, before commencing the formal part of the meeting, I would like to provide shareholders with a brief update on the activities of the Company and our go forward options for financing our Cacata Project through the upcoming BFS.

As I mentioned in the Annual Report, there is no escaping from the fact that FY 2013 has been a challenging year – not just for Minbos, but for many smaller companies in the mining industry. The capital market has contracted significantly and even quality projects have not been guaranteed funding. As a result of this, the issues we have had in the DRC and the delay in the renewals of our Angolan licences, Minbos’ share price has declined steadily to disappointingly low levels and I know that the Board, and I am sure, our shareholder base is disappointed at this trend.

Relevant to the resolutions in front of us today, the Board has secured a series of Convertible Notes that are intended to give us sustaining capital whilst we await the approval of the Angolan exploration licences. We will look at other funding instruments continuously as we move forward. I am very excited about proceeding with this project, with the goal of taking it into production, which will of course generate cash flow for the company allowing us to grow our resource base and the Company.

The past 12 months has been a period of significant change and re-generation for the company in many ways. We have moved on from the previous management that oversaw the flawed JV in the DRC, which has contributed significantly to our weak market performance. The business has been strengthened through a restructuring of our Board and executive capability.

We have recently welcomed Bill Oliver to the Board of Minbos. Bill’s skill set and African experience will substantially boost the Board’s capability. We will continue to seek to strengthen the Board as

25 November 13

ASX Code: MNB PERTH OFFICE Level 1, 278 Stirling Hwy Claremont WA 6010 Australia T: +61 8 9322 9295 E: info@minbos.com W: www.minbos.com

ABN: 93 141 175 493

we move forward, ensuring we have the right team in place to oversee the development of our project(s) into production.

FY13 has also seen a heightened focus on cost reduction initiatives, to reduce our fixed cost base whilst the projects are in feasibility stage. This includes a reduction in our African employee base by 75%, a reduction in our African office costs with the closure of our DRC office and South African office (replacing our SA office with a part share of a cheaper office for our now, one employee), and the rationalisation of our logistics functions. We have also improved our governance throughout all levels of the Company. As a result of these measures, I believe the Company can build its reputation anew.

We recently announced our intention to divest ourselves of our interest in the DRC. It is the Board’s firm opinion that the DRC presents too high a risk for further investment. Efforts to restructure the JV to the original intended 65/35 equity split or even a majority interest for the operator, did not attract any interest from the licence holders, Allamanda SPRL. Further, the shareholders agreement left far too much ambiguity in terms of returns on future investment and a general unwillingness to engage in these critical business issues by our JV partner, left the Board in no doubt as to what our strategy should be.

Cacata is awaiting the renewal of its Exploitation Permit before proceeding with the bankable feasibility study (BFS). This process has been underway since this time last year as the permits expired in January 2013. There is however, no perceived threat to the security of the JV’s tenure. The Government of Angola is processing these licences under the country’s new mining code and has effectively had to build the bureaucratic structure to administer this throughout this period.

We are closely monitoring this process and it is our understanding that the final steps are being taken to reach agreement on tax provisions and Government equity. We hope to have the licences renewed before the end of the year.

I would like to pay tribute to the dedication and efforts of our site-based management, employees and contractors for their hard work over the past 12 months, particularly in the DRC where some very difficult issues have had to be confronted.

We certainly look forward to an exciting 12 months ahead, as the Company moves from explorer to developer.

Thank you for your support of the Company, and be assured we will keep you informed of progress over the months ahead.

ENDS

ASX Code: MNB

25 November 13

PERTH OFFICE Level 1, 278 Stirling Hwy Claremont WA 6010

Australia

T: +61 8 9322 9295 E: info@minbos.com W: www.minbos.com

ABN: 93 141 175 493

For further information please contact:

Scott Sullivan For media enquiries contact: Managing Director David Ikin – Professional Public Relations scott@minbos.com david.ikin@ppr.com.au +61 (0) 8 9322 9295 +61 (0) 8 9388 0944

About Minbos

Minbos Resources Limited ( ASX:MNB ) is an ASX-listed exploration and development company focused on phosphate ore within the Cabinda Province of Angola and the adjoining areas of the far western DRC. Through its subsidiaries and joint ventures, the Company is exploring over 400,000ha of highly prospective ground hosting phosphate ore.

Minbos is focussing on the development of the high grade Cacata project in Cabinda and the high grade Kanzi project in the far western DRC whilst growing its current resource base in incremental stages on the remaining deposits in both areas.

The Company’s strategy is to specifically target the exploration and development of low cost fertiliserbased commodities in order to tap into the growing global demand for fertilisers. Phosphate is an essential component in certain agricultural fertilisers, with the market supported by the increasing global demand for food and bio-fuel products.

For more information, visit www.minbos.com