VOLT RESOURCES LIMITED — Capital/Financing Update 2012

Sep 3, 2012

MOZAMBI COAL LTD

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(ASX: “MOZ”, “Company” or “Mozambi”)

ASX RELEASE

4 SEPTEMBER 2012

CAPITAL RAISING – KAR MINING CO

Mozambi Coal Limited is pleased to advise that it has successfully negotiated the terms of a private placement with KAR Mining Co (“KAR”) through the issue of 17,000,000 ordinary shares at A$0.08 to raise A$1,360,000.

KAR is a private company incorporated in the Kingdom of Saudi Arabia. KAR is a wholly owned subsidiary of the KAR Group, a mining and industrials focused company with large-scale operations throughout the Middle East region.

The Company intends to use the funds for additional working capital to fund its existing exploration programme as well as to fund future potential acquisitions in the region.

Mozambi Coal Managing Director, Shiv Madan said “We are delighted to have attracted another credible institutional investor to Mozambi. The KAR Group is a highly regarded organisation and we are confident that an ongoing relationship with KAR will benefit all shareholders as it enables the Company to tap into a new investor base in the Middle East. The boost to cash reserves ensures we are well funded to complete our objectives of exploration at Songo and Muturara and allows us greater flexibility in the search for new assets in the region”.

Mozambi has entered into a subscription agreement with KAR which includes a voluntary restriction clause. The shares subscribed for under this agreement will be restricted for 12 months from their date of issue unless Mozambi issues and lodges a prospectus with ASIC for the issue of additional shares. KAR has consented to Mozambi placing a holding lock on the subscription shares to enforce these restrictions.

Mozambi Coal Limited ACN 106 353 253 Level 2, 640 Murray Street, West Perth, Western Australia 6005 Tel: (+618) 9321 0774 Fax: (+618) 6314 1557

About Mozambi

Mozambi Coal Ltd is a coal exploration company listed on the Australian Securities Exchange under ASX code MOZ. The Company intends to develop as an Africa-focused coal mining company through the exploration and development of its’ existing exploration licences in Mozambique, East Africa, and the acquisition of further assets in the region.

The Company has a 70% interest in two mineral exploration licences situated in the Zambeze Coal Basin in Mozambique and in July 2011 announced an agreement to acquire an 80% interest in a third exploration licence, 2738L (“Songo” Project), also within the Zambeze Coal Basin. The Zambeze Coal Basin is an emerging and highly prospective coal region that is within economic reach of the East African coast. Globally significant resources companies including Rio Tinto (LON: RIO), Vale, Jindal Steel and ENRC have undertaken coal exploration and development projects in the basin.

The combined tenement size held by the Company is approximately 609km[2] , spanning three tenements, 2738L (“Songo” project) 3245L (“Tete West” project) and 3246L (“Muturara” project). 2738L is located 115km west of the city of Tete and 40km southwest of Jindal licence 1218L where a 700 million tonne coal reserve has been identified. 3245L is located 12km West of the city of Tete and extends over 182km[2] , and lies immediately southwest of Rio Tinto tenement 946L. 3246L is located 58km[2] southeast of the city of Tete and covers approximately 202 km[2] . The tenement is located 45km southeast of the Moatize Coal Mining Camp owned by Vale.

Figure 1: Map of Mozambique within Figure 2: Map of Mozambi Coal’s Tenements within Zambeze Africa Basin

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Mozambi Coal Limited ACN 106 353 253 Level 2, 640 Murray Street, West Perth, Western Australia 6005 Tel: (+618) 9321 0774 Fax: (+618) 6314 1557