VOLT RESOURCES LIMITED — Major Shareholding Notification 2012

Jan 17, 2012

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US-BASED BULK MINING EXPERT BECOMES SIGNIFICANT SHAREHOLDER

MOZAMBI COAL LTD

(ASX: “MOZ”, “Company” or “Mozambi”)

18 January 2012

Mozambi Coal Limited is pleased to announce that Richmond Natural Resources LLC (“RNR”) has become a significant shareholder with 5% of the ordinary shares in the Company. RNR is a US based company investing in mining and mining related properties throughout the world. RNR is owned by a group of individuals who previously operated INR Energy, LLC (“INR”), a highly respected US-based mining and mining infrastructure investment company.

RNR is led by Mr Gary Rogliano, a twenty year mining veteran who previously founded and managed INR Energy LLC (“ INR ”), a West Virginia based producer and exporter of metallurgical and thermal coal that was sold in 2010 to Cliffs Natural Resources for US$757 million.

Mozambi Coal managing director Shiv Madan said that the Company was delighted to have the support of RNR.

“The support of RNR gives increasing credibility to the potential of Mozambi Coal. The principals of RNR have a strong track record of developing large scale coal assets internationally, including associated infrastructure, and we expect to work alongside them as we progress our operations in Mozambique.

“RNR’s growing financial interest in the Company promotes our view that Mozambique is on track to becoming a significant part of the international coal market, a view that is increasingly supported by key players in the industry.”

Chairman and CEO of RNR, Gary Rogliano said "This investment in Mozambi Coal demonstrates our high expectations in Mozambique as an evolving coal producer and specifically in Mozambi Coal as a market leader and significant player in that vital geographic market.”

About RNR

Richmond Natural Resources, LLC (RNR) is a Richmond, Va. based company focusing on investments in mining and mineral assets worldwide.

Mozambi Coal Limited (ASX: MOZ) ACN 106 353 253 PO Box 1571 Tel: +61 8 9321 0774 | Fax: +61 8 6314 1557 West Perth WA 6872 www.mozambicoal.com Australia

Level 2, 640 Murray Street West Perth WA 6005 Australia

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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 Africa

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

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Mozambi Coal Limited (ASX: MOZ) ACN 106 353 253 PO Box 1571 Tel: +61 8 9321 0774 | Fax: +61 8 6314 1557 West Perth WA 6872 www.mozambicoal.com Australia

Level 2, 640 Murray Street West Perth WA 6005 Australia