MINBOS RESOURCES LIMITED — Capital/Financing Update 2012

Oct 2, 2012

ASX ANNOUNCEMENT/MEDIA RELEASE

ASX Code: MNB PERTH OFFICE DRILLING
RECOMMENCES
ON
HIGH
GRADE
KANZI
PHOSPHATE
PROJECT 108 Outram St West Perth WA 6005 Australia Emerging
 phosphate
 developer
 Minbos
 Resources
 Limited
 (“Minbos”)
 (ASX:MNB)
 is
 pleased
 to T: +61 8 9476 4500 announce the recommencement of drilling activities on its 65% owned high grade Kanzi E: info@minbos.com W: www.minbos.com development
 project
 and
 surrounding
 exploration
 areas
 in
 the
 western
 Democratic
 Republic
 of SOUTH AFRICA OFFICE Congo
(“DRC”). 42 Kyalami Boulevard Kyalami Business Park, Highlights
include: Kyalami Johannesburg South Africa T: +27 11 466 8516/7

• Arrival
of
a
Wallis
Drilling
combination
aircore
and
core
drill
rig
on
site
and
drilling
commenced within
eight
weeks
of
signing
joint
venture
for
DRC
concessions

• First
phase
of
the
drill
program
designed
to
upgrade
known
high
grade
inferred
resources
at Kanzi
through
to
indicated
and
measured

• Second
phase
of
the
drill
program
designed
to
fully
explore
the
extent
of
the
Kanzi
deposit

• Regional
exploration
to
test
known
anomalies
in
the
Kanzi
region

Minbos
Executive
Chairman,
Mr
Peter
Richards,
said:

“The
recommencement
of
drilling
activities
on
Kanzi
officially
moves
the
project
from
the
exploration into
the
development
phase
as
it
is
the
first
step
in
the
program
for
the
completion
of
the
bankable feasibility
study
on
Kanzi.

“Once
the
program
is
completed
at
Kanzi
we
will
then
be
able
to
drill
test
the
other
known
deposits and
anomalies
within
the
license
areas,
which
based
on
our
experience
in
Cabinda
across
the
border could
potentially
host
substantial
additional
resources.

“With
two
projects
currently
in
the
BFS
stage
Minbos
has
moved
from
an
exploration
company
to
a developer
‐
confirmation
that
Minbos
is
rapidly
achieving
its
goal
of
becoming
a
low
capex
and
opex phosphate
rock
producer
and
exporter.”

ASX ANNOUNCEMENT/MEDIA RELEASE

DRILL PROGRAM

The
drill
program
has
been
split
into
three
phases:

Phase
1
–
Kanzi
Infill
Drilling
(Indicated
and
Measured)

A
total

of
32
aircore
holes
for
approximately
1,600m
and
an
additional
20
diamond
core
holes
for approximately
1,500m.

These
holes
will
be
drilled
in
the
defined
high
grade
inferred
resource area
at
Kanzi.

Phase
2
–
Kanzi
Exploration
Drilling

A
total
of
26
aircore
holes
for
approximately
1,220m.

Phase
3
–
Regional
Exploration
around
Kanzi

THE KANZI PROJECT

INTRODUCTION

Kanzi
is
located
in
the
far
west
of
the
DRC,
35km
from
the
operating
port
of
Boma
on
the
Congo River.

Kanzi
has
inferred
resources
of
66mt
@
15.3%
P2O5
including
a
high
grade
core
of
44mt
@
21.4% P2O5.

In
addition
to
Kanzi,
Minbos
has
exclusive
rights
to
approximately
200,000ha
of
highly
prospective exploration
 ground
 around
 Kanzi
 which
 will
 be
 evaluated
 during
 the
 development
 of
 the
 Kanzi project
development.

ASX ANNOUNCEMENT/MEDIA RELEASE

==> picture [421 x 441] intentionally omitted <==

Figure
1:
DRC
New
Licence
Areas

ASX ANNOUNCEMENT/MEDIA RELEASE

COMPETENT
PERSON
STATEMENT

The
information
in
this
report
has
been
reviewed
and
approved
for
release
by
Mr
David
Reeves,
M. AusIMM,
MSAIMM
who
has
over
20
years’
experience
in
mineral
development.

Mr
Reeves
is
a
non‐ executive
director
of
Minbos.

He
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
Reeves
has
consented
to
inclusion
of
this
information
in
the
form
and context
in
which
it
appears.

For
further
information
please
contact:

Peter
Richards Robert
McCrae Executive
Chairman Chief
Executive
Officer peter@minbos.com robbie@minbos.com (+61)
8
9476
4500 (+27)
82
319
2690

For
media
enquiries
contact:

David
Ikin
–
Professional
Public
Relations email:

david.ikin@ppr.com.au (+61)
8
9388
0944

About
Minbos

Minbos
Resources
Limited
is
an
exploration
and
development
company
with
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
focussed
on
the
completion
of
the
Bankable
Feasibility
Studies
on
the
both
the
High
Grade Cacata
project
in
the
Cabinda
Province
of
the
Angola
and
the
High
Grade
Kanzi
Project
in
the
Bas Congo
Province
of
the
DRC.

The
 Company’s
 strategy
 is
 to
 specifically
 target
 the
 exploration
 and
 development
 of
 low
 cost fertiliser‐based commodities in order to tap into the growing global demand for fertilisers. 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