MINBOS RESOURCES LIMITED — Interim / Quarterly Report 2011

Jul 27, 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 11 466-8516/7 F: +61 (08) 6314 1587 F: +27 11 466-8523 E: info@minbos.com W: www.minbos.com

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July 28, 2011 ASX ANNOUNCEMENT

Period Ending 30 June, 2011

ASX Code: MNB

QUARTERLY ACTIVITES REPORT, 30 JUNE 2011

Directors

Peter Richards (Exec. Chairman) David Reeves Faldi Ismail John Ciganek Domingoes Catuilichi

Securities on Issue

68.3m Ordinary Shares (quoted) 14.6m Options (unlisted) 52 Week High: A$0.65 52 Week Low: A$0.19

Exploration Areas

Cabinda, Angola  Mongo Tando  Chibuete  Cacata  Chivovo  Ueca Democratic Republic of Congo  Kanzi

Highlights during the quarter

 Updated resource estimate for the Mongo Tando prospect provided significant increase in tonnage (61%) and grade (9%) to 117Mt @ 13.6% P2O5.

 Detailed review of resource model for Mongo Tando has identified areas for additional drilling, including some infill, that have the potential to significantly increase the resource estimate.

 Extra drilling has been identified at Ueca to complete the data required for a Resource Estimate.

 Drilling completed at Cacata confirmed potentially high grade phosphate mineralisation occurrences over an approximate strike of 4.2km and a width of 300m, with varying mineralisation thicknesses of between 1m and 63m, averaging 26m.

 Assay data has been sent to Coffey Mining to complete a resource estimate which is expected by 4th quarter 2011. Most recent assays received on the 19th July include:

 6 to 23m, 17m grading 29.1% P2O5 including an interval of 10m grading 32.5% P2O;

 30 to 56m, 26m grading 23% P2O5 including an interval of 10m grading 31.32% P2O5 ; and

 2 to 18m, 16m grading 26.3% P2O5 including an interval of 10m grading 30.21% P2O5.

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

 A 500m drill program at Chivovo was approved for September quarter to test for high grade potential.

 Initial drill program completed at Kanzi in the DRC. Results are in line with expectations from historic exploration and samples have been submitted to the laboratory for preparation and assay.

Minbos Resources Limited – 30 June 2011 Quarterly Activities Report 1

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CABINDA PHOSPHATE PROJECT

Historical exploration within the Cabinda license defined 4 priority areas: Mongo Tando, Ueca, Cacata and Chibuete. These formed the basis for the exploration target provided by Coffey Mining of 333mt – 538Mt @ 10 – 20% P2O5 for the project. An additional area, Chivovo, has been added to the exploration program.

The current work program being carried out by Minbos is targeting the delineation of a combined JORC compliant resource for the Cabinda licence by the end of the 4[th] quarter 2011.

1. Cacata Prospect

The Cacata ore body is the third to be drilled by Minbos (as shown in Figure 1 ). Drilling recommenced on 17 May, after a scheduled break in site activities due to seasonal rains.

Drilling was completed in the quarter, comprising a total of 59 holes and 2,561m. This drilling showed 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.

Assay results received on the 05[th] July 2011 included the following: (a summary of all assay results from Cacata is detailed in Table 1 ):

• CCR-007A, from 36 to 54m, 18m grading 24.7% P2O5 including an interval of 7m grading 33.3% P2O5;

• CCR-007D, from 9 to 25m, 16m grading 26.9% P2O5 including an interval of 12m grading 31.4% P2O5;

• CCR-N1, from 9 to 23m, 14m grading 28.2% P2O5 including an interval of 10m grading 30.8% P2O5;

• CCR-K1, from 6 to 25m, 19m grading 27.4% P2O5 including an interval of 11m grading 30.6% P2O5

• CCR-999A, from 18 to 30m, 12m grading 24.4% P2O5 including an interval of 5m grading 30.8% P2O5 .

• CCR-O1, from 2 to 12m, 10m grading 28% P2O5

These assays further confirmed the high grade and DSO potential of Cacata as indicated in the results first published on 14 March 2011, including:

• 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 .

Mr Peter Richards, Executive Chairman, Minbos Resources Ltd, commented:

“ Minbos is very pleased with this latest batch of assay results which provide confirmation of the existence of a high grade orebody at Cacata.

We plan to begin assessing the DSO potential of Cacata as soon as possible – the combination of the high grades, close to surface mineralisation, thickness of mineralisation and locality to infrastructure and the coast are all very good indicators that Cacata could turn out to be a world class, low cost producer of Phosphate Rock.”

Minbos Resources Limited – 30 June 2011 Quarterly Activities Report 2

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Table 1: Compilation of Cacata Aircore drill results

Hole	East	North	From	To	Thickness	Depth	P2O5	Fe2O3	CaO	SiO2	AL2O3	MgO	CaO /
			(m)	(m)	(m)	(m)	(%)	(%)	(%)	(%)	(%)	(%)	P2O5
CCR-007	223 317	9 412 409	32	57	25	57	25.59	1.81	38.29	22.23	2.62	0.64	1.50
CCR-007A	223 255	9 412 642	35	55	20	63	25.39	1.18	36.70	24.33	2.32	0.59	1.45
CCR-007B	223 188	9 412 898	36	57	21	57	10.93	0.97	15.85	58.68	3.93	0.98	1.45
CCR-007D	223 410	9 412 184	9	26	17	26	26.81	1.74	38.45	20.16	3.17	0.32	1.43
CCR-013	224 273	9 410 530	39	47	8	47	7.92	2.09	14.87	63.58	2.18	1.60	1.88
CCR-999	223 507	9 412 024	9	28	19	30	27.58	1.65	42.15	16.99	2.39	0.45	1.53
CCR-999A	223 656	9 411 818	18	31	13	31	24.35	1.64	37.45	21.55	2.93	1.09	1.54
CCR-999B	223 861	9 411 668	37	51	14	51	10.52	1.68	21.22	43.56	3.60	4.07	2.02
CCR-AA1	224 521	9 410 586	29	40	11	40	8.34	1.37	18.30	48.51	3.58	4.15	2.19
CCR-AA2	224 104	9 410 746	6	19	13	19	11.35	2.29	24.50	35.14	3.94	5.15	2.16
CCR-AA7	224 565	9 410 270	59	75	16	75	6.25	1.56	17.23	47.98	3.44	5.48	2.76
CCR-J1	223 545	9 412 416	24	26	2	48	19.07	2.62	25.65	39.40	4.70	0.50	1.35
CCR-K1	223 637	9 412 138	6	26	20	27	27.39	1.12	39.34	20.25	2.23	0.23	1.44
CCR-N1	223 655	9 411 572	9	21	12	26	28.63	1.19	40.91	17.57	2.22	0.20	1.43
CCR-O1	223 732	9 411 352	2	12	10	13	28.01	0.99	41.19	16.34	3.02	0.34	1.47
CCR-P1	223 919	9 411 434	27	39	12	42	8.45	1.56	19.75	43.90	3.67	4.98	2.34
CCR-S1	224 113	9 410 968	17	36	19	38	11.20	2.22	25.51	32.12	3.51	5.65	2.28
CCR-U1	223 470	9 412 100	2	17.75	15.75	18	26.26	1.48	39.65	17.85	2.54	0.61	1.51
CCR-U2	223 436	9 411 962	6	23	17	25	29.36	1.35	41.69	16.06	2.21	0.24	1.42
CCR-W1	223 312	9 412 410	30	56	26	58	23.91	1.70	34.17	27.28	2.90	0.45	1.43

Minbos Resources Limited – 30 June 2011 Quarterly Activities Report 3

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Figure 1: Cacata Area

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Minbos Resources Limited – 30 June 2011 Quarterly Activities Report 4

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2. Chibuete

The Chibuete ore body is the fourth area to be drilled by Minbos (as shown in Figure 2 ). Drilling commenced on 2 June and by quarter end, 33 drill holes had been completed for 2,842m.

The 33 drill holes cover a strike length of 3km with a width of mineralisation approximately 500m with the average thickness being approximately 40m. This mineralisation is contained within a larger 9km strike length detailed in historical reports. Average overburden is 36m suggesting an overall strip ratio of approximately 1:1 for Chibuete.

Figure 2: Chibuete Area Map

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Minbos Resources Limited – 30 June 2011 Quarterly Activities Report 5

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3. Mongo Tando Prospect

After a detailed technical review and site visit by the Project Management team, additional drilling has been approved for Mongo Tando. The Company is confident that this additional drilling will increase the resource estimate for Mongo Tando (as shown in Figure 3 below).

Figure 3: Mongo Tando Area Map

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Minbos Resources Limited – 30 June 2011 Quarterly Activities Report 6

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4. Ueca Prospect

Ueca was the second prospect to be drilled by Minbos. Original data and results from our drilling program have been submitted to Coffey Mining for the purpose of calculating an inferred JORC compliant resource estimate.

After a detailed technical review and site visit by the Project Management team, additional drilling has also been approved for Ueca. The Company expects this will enable the completion of a Resource Estimate for Ueca.

DRC PHOSPHATE PROJECT

As with its Cabinda Project, Minbos drilled the first holes adjacent to the historical Kanzi drilling in order to confirm historical data before completing additional drilling in the area. This repeat drilling has confirmed that the stratigraphic information is consistent with historical data.

Drilling commenced on the 11[th] of May and a total of 52 holes were drilled. The field results are in line with historical expectations, with phosphate mineralisation thickness ranging from 1 to 12m with an average of 5.3m. Overburden ranges from 13 to 59m averaging 34.6m (as shown in Figure 4) .

1,485kg of sample material arrived in Johannesburg during June and was delivered to Set Point for sample preparation and assaying.

Minbos Resources Limited – 30 June 2011 Quarterly Activities Report 7

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Figure 4: Mongo Tando Area Map

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Minbos Resources Limited – 30 June 2011 Quarterly Activities Report 8

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Financial/Corporate

At the end of June 2011, the Company had consolidated cash reserves of A$3,227,887.

During the quarter, the following securities were issued:

• 500,000 unlisted options issued to two employees at an exercise price of $0.20 each; an expiry date of 18 April 2014; and vesting on 1 October 2012; and

• 100,000 unlisted options issued to a contractor at an exercise price of $0.50 each; an expiry date of 18 April 2014; and vesting on 1 April 2013.

Activities for 3rd Quarter of 2011

Cabinda Project

1. Diamond Drilling

An initial diamond drilling program at Cacata is planned to begin during the 3rd quarter. Further diamond drilling on other areas is still under consideration.

This diamond drilling will provide detailed geological information regarding mineralisation and an expected upgrade of selected resources from inferred to indicated.

2. Cacata Prospect

Final assay results are expected towards the end of July after which the data will be sent to Coffey Mining to calculate a resource estimate, with results expected during September.

Based on the assay results received to date, Minbos intends starting a scoping study to determine project economics for a standalone DSO phosphate rock export operation at Cacata.

3. Chibuete Prospect

Assay results from Chibuete are expected during the 3[rd] quarter – these results will be sent to Coffey Mining for a resource estimate to be completed.

4. Mongo Tando Prospect

Drilling activities will recommence on Mongo Tando towards the end of July and samples are expected to be delivered to the laboratory for assay during the 3[rd] quarter.

5. Ueca Prospect

Drilling activities will recommence on Ueca in August and samples are expected to be delivered to the laboratory for assay during the 3[rd] quarter.

6. Chivovo Prospect

Historical data shows the potential for high grade mineralisation with grades similar to those encountered at Cacata; historically, insufficient work was done to determine a resource estimate.

Minbos Resources Limited – 30 June 2011 Quarterly Activities Report 9

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Two reported historical holes are as follows:

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

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

Minbos has planned an initial 500m aircore drill program during August to confirm the historical data which, if successful, will be followed by additional drilling to define a resource

DRC Phosphate Project

1. Kanzi Prospect

Assay results from Kanzi are expected during the 3[rd] quarter – based on a review of these results a decision will be made if additional drilling is warranted before the results are sent to Coffey Mining for a resource estimate to be completed.

2. Other licences

Negotiations are ongoing with various parties and the DRC authorities.

Minbos Resources Limited – 30 June 2011 Quarterly Activities Report 10

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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.

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

Minbos Resources Limited – 30 June 2011 Quarterly Activities Report 11

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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 prospects 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

Overview of licenses

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Minbos Resources Limited – 30 June 2011 Quarterly Activities Report 12