MINBOS RESOURCES LIMITED — Capital/Financing Update 2011

Mar 13, 2011

14 March 2011

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ASX ANNOUNCEMENT

INITIAL ASSAY RESULTS FROM CACATA & UECA AREAS ON CABINDA PHOSPHATE PROJECT

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HIGHLIGHTS

Emerging Phosphate developer Minbos Resources Limited ( Minbos) (ASX code: MNB ) is pleased to report the following assay results from the first aircore exploration drill holes at Cacata and results from Ueca, both these areas being from its Cabinda Phosphate Project in the Republic of Angola.

Perth Office Suite 2, Level 3 1292 Hay Street West Perth ,WA, 6005

PO Box 1974 West Perth WA 6872

T: +61 (08) 6140 2449 F: +61 (08) 6314 1587 E: info@minbos.com W: www.minbos.com

South African Office 42 Kyalami Boulevard Kyalami Business Park, Kyalami Johannesburg T: +27 11 466 9462 F: +27 86 560 6998

Results from Cacata include:

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

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

These results are very pleasing and will provide the basis to assess the Direct Shipping Ore (DSO) potential of Cacata.

Results from Ueca include:

• UER-030, from 14 to 20 meters, 6 meters grading 16.27% P2O5 , including an interval of 4 meters grading 19.31% P2O5

• UER-011, from 16 to 24 meters, 8 meters grading 12.17 % P2O5

• UER-009, from 24 to 34 meters, 10 meters grading 11.43 % P2O5 , including a meter interval grading 14.10% P2O5

• UER-010, from 25 to 33 meters , 8 meters grading 10.98% P2O5

• UER-014, from 11 to 21 meters, 10 meters grading 10.50% P2O5

• UER-020, from 23 to 28 meters, 5 meters grading 10.47% P2O5

These initial results confirm the grades and widths from historical exploration data at Ueca and indicate that the Ueca area may contain a significant phosphate deposit with grades in the range stated in the Coffey Mining exploration target grade of 10 to 20% P2O5 * as outlined in the Company’s Initial Public Offer document/Prospectus.

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Cacata Deposit

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The Cacata area was sparsely explored by COFAN during the late 1970’s. Due to the high rainfall in November and December, Minbos was only able to drill 15 holes, on the western mineralisation boundary of the deposit of which three intersected phosphate mineralization. Drilling will recommence at Cacata in April 2011.

These initial high grade results has allowed Minbos to gain a better understanding of the geology which was very limited due to the minimal amount of previous drilling in this area. Minbos has updated its planned drilling to focus on the defined high grade area and will progress in a northerly direction along strike of these intercepts where the deposit remains open.

Minbos is very pleased with the results to date and believe that the balance of the planned drilling will allow an assessment of the DSO potential of the Cacata area to be undertaken. Results from holes in the Cacata area that were all drilled vertically into the flat lying phosphatic beds are presented at the end of this report in Table 1 .

An overview map of the Cacata area detailing finalised and planned drilling is included at Figure 1 below.

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Figure 1: Overview of finalised and planned drilling in the Cacata area

Ueca Deposit

The Ueca area is the second of the four deposits within the Cabinda Project to be drilled by Minbos. Minbos is encouraged by the results from Ueca as they confirm historical mineralisation widths and grades and take the Company another step closer to defining resources in line with the exploration target presented by Coffey Mining of 333mt to 538mt at between 10 to 20% P2O5 * as outlined in the Company’s Initial Public Offer document/Prospectus.

*The potential quantity and grade is conceptual in nature at this stage as there has been insufficient exploration to define a Mineral Resource under the JORC Code

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Results from holes in the Ueca area that were all drilled vertically into the flat lying phosphatic beds are presented at the end of this report (Table 2) and can be summarized as follows:

Of the 37 phosphate intersections in the Ueca area, with a cut-off grade of 5% P2O5:

• 15 intersections, grade on average 11.32% P2O5 over an average width of 7 meters, with an average overburden of 19 meters.

• 17 intersections, between 5% and 10% P2O5, grade 7.97% P 2 O5 over an average width of 5 meters, with an average overburden of 21 meters.

• The remaining five intersections, below the 5% P2O5 cut-off grade, have an average grade of 1.86% P2O5 over an average width of 11 meters, with an average overburden of 17 meters.

A complete compilation of these results is presented in Table 2 .

An overview map of the Ueca area, detailing finalised drilling is included at Figure 2 below.

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Figure 2: Overview of finalised drilling in the Ueca area (drill hole, overburden, mineralization thickness, P2O5 content)

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Table 1: Results obtained in the Cacata area

Hole	East	North	From	To	Thickness	P2O5	Fe2O3	CaO	SiO2	AL2O3	MgO
CCR-007 CCR-013 CCR-999	223317 227273 223507	9412409 9410550 9412024	32 33 9	57 47 28	25 14 19	25.04 6.15 27.58	1.88 2.45 1.65	37.57 13.35 42.15	23.13 63.53 9.78	2.73 2.56 2.39	0.65 2.51 0.45

Holes CCR 005, 006, 011, 012, 014, 015, 017, 018, 019, 022, 023 and 025 did not intersect any mineralisation.

Table 2: Results obtained in the Ueca area

Hole	East	North	From	To	Thickness	P2O5	Fe2O3	CaO	SiO2	AL2O3	MgO
UER-059	192508 191381 191195 191451 191285 191957 191433 191789 192452 191864 191694 191959 192635 192049 192895 192735 191600 192120 192247 192683 192347 192305 191166 191049 191293 192693 192142 191249 191330 192994 192545 191083 191198 192361 191101 192040 192366	9437720 9439691 9440441 9439733 9440208 9438844 9440008 9439047 9437701 9438826 9439284 9438586 9437212 9438620 9436791 9437020 9439512 9438392 9438150 9437489 9437924 9438290 9441523 9441443 9440988 9436739 9438124 9441250 9440510 9436550 9437461 9441489 9440728 9437390 9440307 9438346 9438193	28 14 6 16 24 16 25 11 23 11 24 23 31 17 20 48 23 11 22 7 21 22 25 20 22 24 18 22 15 16 26 13 20 33 9 15 9	30 20 8 24 34 18 33 21 28 21 36 33 38 19 25 55 33 23 28 9 29 24 31 26 31 31 22 28 17 18 27 15 40 41 15 30 16	2 6 2 8 10 2 8 10 5 10 12 10 7 2 5 7 10 12 6 2 8 2 6 6 9 7 4 6 2 2 1 2 20 8 6 15 7	20.95 16.27 12.79 12.17 11.43 11.30 10.98 10.50 10.47 10.45 10.44 10.37 10.29 10.23 10.00 9.82 9.64 9.12 9.05 9.04 9.01 8.45 7.29 7.16 6.95 6.80 6.72 5.99 5.69 5.39 5.28 5.16 2.69 2.27 1.35 1.26 0.78	3.46 1.08 1.45 0.98 1.25 2.06 1.43 1.41 1.74 1.21 1.38 1.14 1.28 1.51 1.24 1.41 1.36 1.44 1.44 2.08 1.15 2.28 1.50 1.48 1.78 1.34 1.3 2.21 1.40 2.11 2.17 1.53 1.75 2.72 2.71 1.64 1.62	26.88 21.36 18.52 16.54 15.56 15.86 15.00 14.1 14.1 13.96 14.04 13.85 13.42 14.43 13.06 13.04 13.00 13.28 12.51 12.32 12.18 14.21 11.54 9.85 8.89 7.60 8.66 6.39 7.30 5.47 6.38 4.87 6.70 5.74 1.92 3.86 7.01	34.80 50.90 54.1 59.03 60.78 55.90 61.45 61.9 61.62 62.52 63.48 63.68 63.86 59.20 65.77 64.83 64.96 64.35 66.47 63.1 66.09 56.40 66.43 70.87 72.14 73.77 72.65 73.92 76.50 72.40 73.00 75.7 72.82 71.28 75.68 81.22 70.14	4.50 3.57 5.1 3.78 4.12 5.30 4.10 4.56 4.14 4.04 3.85 3.92 3.94 5.80 3.87 4.04 4.08 4.00 3.93 5.8 4.4 5.50 4.33 3.70 4.53 4.63 4.25 5.13 3.90 5.50 5.90 5.8 4.89 5.75 9.23 3.62 4.21	0.50 0.17 0.4 0.20 0.24 0.40 0.23 0.2 0.14 0.18 0.13 0.18 0.14 0.40 0.13 0.21 0.18 0.37 0.07 0.4 0.21 1.20 0.53 0.10 0.22 0.11 0.2 0.17 0.40 0.20 0.30 0.2 1.82 2.30 0.65 1.52 3.33
UER-030
UER-008
UER-011
UER-009
UER-015
UER-010
UER-014
UER-020
UER-067
UER-013
UER-065
UER-022
UER-016
UER-024
UER-023
UER-012
UER-017
UER-018
UER-035
UER-019
UER-050
UER-027
UER-026
UER-006
UER-054
UER-063
UER-005
UER-029
UER-025
UER-021
UER-004
UER-007
UER-034
UER-028
UER-032
UER-062

Holes UER 031,033, 043, 051, 053, 055, 056, 058, 060, and 061 did not intersect any mineralisation.

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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.

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For more information: Peter Richards Dave Reeves Minbos Resources Limited Minbos Resources Limited Executive Chairman Director (08) 6140 2449 (08) 6140 2449

About Minbos

Minbos Resources Limited is an exploration Company focussed on the development of the phosphate province centred on the Cabinda Province of Angola and the adjoining areas of the far western DRC. Minbos through its subsidiaries and joint ventures has access to over 400,000ha of highly prospective ground. Minbos has recently released an initial Inferred Resource on a portion of the 1[st] drill target, Mongo Tando which totals 75mt at 12.6% at a 4.5% block cut-off. Minbos will add to this resource over the coming year as the remaining 3 priority areas are drilled and modelled.

The Company’s strategy has been to specifically target 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

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Figure: Overview of Licences

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