MINBOS RESOURCES LIMITED — Capital/Financing Update 2011

Dec 18, 2011

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Perth Office South African Office 108 Outram Street 42 Kyalami Boulevard West Perth, WA, 6005 Kyalami Business Park, Kyalami, Johannesburg PO Box 1974 West Perth WA 6872 T: +61 (08) 6140 2449 F: +61 (08) 6314 1587 T: +27 11 466-8516/7 F: +27 11 466-8523 E: info@minbos.com W: www.minbos.com

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19th December 2011

ASX ANNOUNCEMENT

RESOURCE ESTIMATES FOR CABINDA PROJECT

Highlights

• Inferred Resource Estimate of 6.7Mt @ 20.3 % P2O5for the Chivovo Deposit

• Inferred Resource Estimate of 150Mt @ 8.3 % P2O5 for the Chibuete Deposit

• Total Resource estimate for the Cabinda Project now stands at 304Mt @ 11.5% P2O5

• Updated resource estimates for Mongo Tando, Cacata and Ueca expected early 1[st] quarter 2012

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Emerging Phosphate developer Minbos Resources Limited (“ Minbos ” or “ Company ”) (ASX code: MNB) is pleased to announce Inferred Resource Estimates for the Chivovo and Chibuete deposits, resulting in a substantial increase in the total resource estimate for the Cabinda Phosphate project in the Republic of Angola.

• Chivovo contains a JORC compliant inferred resource of 6.7Mt @ 20.3 %P2O5

• Chibuete contains a JORC compliant inferred resource of 150Mt @ 8.3 % P2O5

• Total JORC compliant resource of 304Mt @ 11.5% P2O5 for the Cabinda Project comprising resources from the Chivovo, Chibuete, Mongo Tando and Chibuete deposits.

Minbos Executive Chairman, Peter Richards, commented:

“The announcement of a JORC compliant resource of 304Mt @ 11.5% P2O5 for the Cabinda Phosphate Project is yet another important milestone for Minbos.

The Cabinda Project can now be benchmarked against other world class phosphate projects and should result in a significant increase in the valuation of Minbos. Bayovar, currently being developed by Vale is a good example of such a project, containing approximately 40Mt of P2O5 versus 35Mt of P2O5 already defined for the Cabinda Project; based on a recent corporate transaction Bayovar has a valuation of over US $ 1.1bn.

Equally significant is the feasibility study for the development of a high grade DSO operation at Cacata and Chivovo which is underway. The 1.5t ore sample for detailed metallurgical testwork obtained via diamond drilling is ready for dispatch and the environmental and port studies are progressing. The Company is confident that the very robust financial numbers presented in the CRU scoping study will be confirmed and that the project will be fast tracked into production.”

In both resource estimates, Coffey Mining Pty Ltd (“ Coffey ”), the Company’s independent Resource and Mining consultant, compiled and reviewed all relevant drill hole data and geological information, and developed a geological model to derive the stated resource. Datamine TM software was used to

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Minbos Resources Limited 1

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develop wireframes of the logged Upper Phosphate Member geological structure, and a 3D block model used inverse distance squared methodology to derive grades throughout the model.

Cabinda Project Overall Resource and Update

Since November 2010, Minbos has completed approximately 20,000m of aircore drilling across 5 previously identified deposits that lie within the Cabinda Phosphate license area and have announced resource estimates for 4 of these 5 deposits; these estimates are contained below in Table 1.

Table 1 – Cabinda Project Overall Resources, Dec 2011

	Cabinda Project Overall	Cabinda Project Overall	Resources December 2011	Resources December 2011
	Category	Cut-Off Grade % P2O5	Million Tonnes (Mt)
Deposit				P2O5 (%)
Cacata	Indicated	5	30.4	17
Chivovo	Inferred	10	6.7	20.3
Mongo Tando	Inferred	5	117	13.7
Chibuete	Inferred	5	150	8.3
Total			304.1	11.5

The location of each of the deposits within the Cabinda Project, is shown in Figure 1.

Figure 1 – Location of Cabinda Project

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Minbos Resources Limited 2

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Competent Persons Statement

The information in this report has been reviewed and approved for release by Mr Tom Evers, MSc, Pr.Sci.Nat, who has over 20 years’ experience in mineral exploration, and who is the Company’s Chief Geologist and full-time employee and has sufficient experience in relation to the style of mineralisation and type of deposit under consideration to qualify as a Competent Person as defined by the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (The JORC Code 2004 Edition). Mr. Evers has consented to inclusion of this information in the form and context in which it appears.

About Minbos

Minbos Resources Limited is an exploration company focused on the development of phosphate and potash bearing 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 and potash bearing ore. Minbos is growing its current Resource base in incremental stages as it drills out the known deposits during 2011 and early 2012.

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 and increased food production. Phosphate and potash are 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

For more information:

Peter Richards Robbie McCrae Minbos Resources Minbos Resources Executive Chairman CEO peter@minbos.com robbie@minbos.com (+61) 08 6140 2449 (+27) 82 319 2690

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Minbos Resources Limited 3