MINBOS RESOURCES LIMITED — Capital/Financing Update 2011

Jun 21, 2011

Perth Office South African Office Suite 2, Level 3 42 Kyalami Boulevard 1292 Hay Street Kyalami Business Park, West Perth, WA, 6005 Kyalami, Johannesburg PO Box 1974 West Perth WA 6872 T: +61 (08) 6140 2449 T: +27 11 466 9462 F: +61 (08) 6314 1587 F: +27 86 560 6998 E: info@minbos.com W: www.minbos.com

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22 June 2011 ASX ANNOUNCEMENT

ANGOLA (CABINDA PROJECT) - EXPLORATION UPDATE

Highlights

• Drilling completed at the Cacata prospect with samples delivered to the laboratory for assaying.

• Drilling has commenced at the Chibuete prospect with preliminary field results from the first ten holes indicating an average mineralisation width of 36m.

• Detailed review of resource models has identified areas within the Mongo Tando and Ueca project areas for additional and infill drilling that have the potential to significantly increase the resource estimate for Mongo Tando and complete data required for the Resource Estimate for Ueca. This additional drilling is expected to commence in early July.

• Drill program approved to test the high grade potential of the Chivovo prospect.

CABINDA PHOSPHATE PROJECT

Emerging Phosphate developer Minbos Resources Limited ( Minbos or Company ) ( ASX: MNB ) is pleased to provide an exploration update for its Cabinda Phosphate Project in the Republic of Angola.

1. Cacata

The Cacata ore body is the third of four priority ore bodies targeted by Minbos that were defined by historical exploration. Drilling on Cacata has been completed, in total 44 holes were drilled for a total of 1,848m. This drilling shows phosphate mineralisation to be present over a strike length of approximately 4.2km and width of approximately 300m. The thickness of the mineralisation varies between 1m and 63m with an average thickness of 26m.

Mr Peter Richards, Executive Chairman commented “Minbos is very pleased to announce that initial field results, from Cacata, using both visual logging and a portable XRF machine are showing similar characteristics, in terms of tenor, depth and thickness of mineralisation as the results announced on 14 March 2011. Minbos are very encouraged by these field results as they provide ongoing confidence of the high grade nature, thickness and depth of mineralisation of the Cacata ore body.”

The first batch of samples from Cacata has been delivered to the laboratory for assay and results are expected in the near future. Refer to Cacata drilling map – Figure 1.

The initial assay results announced by Minbos on 14 March 2011 included the following:

• CCR-007, from 32m to 57m, 25m grading 25.04% P2O5 including an interval of 8m grading 33.17% P2O5; and

• CCR-999, from 9m to 28m, 19m grading 27.58% P2O5 including an interval of 11m grading 32.58% P2O5.

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Figure 1. Cacata Drilling

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2. Chibuete

The Chibuete ore body is the last of the four priority ore bodies identified by historical exploration to be drilled by Minbos.

Drilling has commenced on Chibuete and as of 10 June ten holes had been completed. As summary of field results from the drilling completed Chibuete are as follows:

• CER-008, 53m of mineralisation from 42m below surface;

• CER-008B, 16m of mineralisation from 39m below surface (hole stopped in mineralisation, due to rig problem, will be re-drilled);

• CER-009, 11m of mineralisation from 59m below surface;

• CER-009B, 50m of mineralisation from 40m below surface;

• CER-010, 42m of mineralisation from 57m below surface (hole stopped in mineralisation depth of hole is at limit of rig capacity);

• CER-011, 42m of mineralisation from 42m below surface;

• CER-011B, 63m of mineralisation from surface; and

• CER-008A, CER-009A and CER-010A, no mineralization.

Sample from these first few holes will now be processed and sent to the laboratory for assaying. Drilling on Chibuete is expected to continue for the next three to four weeks.

Refer to Chibuete map of drilling done to date – Figure 2.

3. Mongo Tando and Ueca

After a detailed technical review and site visit by the Project Management team, additional drilling has been approved in both the Mongo Tando and Ueca project areas. The Company is confident that this additional drilling will significantly increase the resource estimate for Mongo Tando and complete the data required for the Resource Estimate for Ueca.

Minbos has previously announced an upgraded resource estimate for Mongo Tando of 117Mt @ 13.6% P2O5.

4. Chivovo

Minbos has planned an initial 500m drill program for the Chivovo ore body to establish whether the existence of high grade mineralization occurs. The historical data shows the potential for high grade mineralisation with grades similar to those encountered at Cacata, but not enough work was done to determine a resource at that time. Two reported historical holes are as follows:

• CV5 – 21m @ 26% P2O5 from surface; and

• CV6B – 10m @ 20 to 25% P2O5 from 10m below surface (CV6B is located approximately 500m to the Northwest of CV5).

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Figure 2. Chibuete Drilling

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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 companies 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 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 bearing ore. Minbos is growing its current Inferred Resource base of 117Mt at 13.6% P2O5 in incremental stages as it drills out the known deposits during the first half of 2011.

The Company’s strategy is to specifically target the development of low cost phosphate projects, 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

For more information:

Peter Richards Minbos Resources Executive Chairman peter@minbos.com (+61) 08 6140 2449

Francis DeSouza Minbos Resources Corporate and Business Development francis@minbos.com (+61) 08 6140 2449

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Overview of licenses

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