VOLT RESOURCES LIMITED — Capital/Financing Update 2015

Feb 9, 2015

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**ASX

ANNOUNCEMENT**

By
e-­‐lodgement

**10

February
2015**

**MOZAMBI

ACQUIRES
TWO
HIGHLY
PROSPECTIVE
GRAPHITE
LICENSES
IN MOZAMBIQUE**

Highlights

• Mozambi
  Resources
  signs
  option
  to
  acquire
  highly
  prospective graphite
  licenses

• License
  6142L
  is
  contiguous
  with
  Triton
  Mineral’s
  Nicanda
  Hill Project
  &
  5km
  north
  of
  Syrah
  Resource’s
  Balama
  Project

• Works
  program
  to
  commence
  immediately
  after
  the
  granting
  of licenses

Introduction

Mozambi
Resources
Limited (ASX:
MOZ, Mozambi,
Company )
is
pleased
to announce
the
signing
of
a
terms
sheet
granting
the
company
the
option
to acquire
two
highly
prospective
license
applications
in
the
graphite
rich
Balama-­‐ Montepuez
region
of
Mozambique.

Commenting
on
the
acquisition
Executive
Director
of
Mozambi
Resources,
Mr Alan
Armstrong
said:
“We
are
very
excited
about
the
potential
this
area
holds
in an
emerging
basin
for
graphite
and
vanadium.
The
board
is
extremely
pleased with
the
quick
turnaround
time
we
have
seen
from
the
start
of
negotiations through
to
this
point.
The
smooth
way
in
which
we
have
been
able
to
conduct this
transaction
is
testament
to
the
emerging
mining
industry
in
Mozambique.”

The
licenses
are
currently
under
application
with
the
Mozambique
Mines Ministry
with
granting
of
the
licenses
anticipated
in
the
near
future.

These
licenses
are
in
close
proximity
to
existing
large
graphite
and
vanadium deposits
held
by
ASX
listed
entities
Triton
Minerals
Ltd
and
Syrah
Resources
Ltd.

Location

Over
the
last
few
years
several
world-­‐class
flake
graphite
deposits
have
been identified
within
the
mobile
belt
with
the
largest
of
these
deposits
in
the
Cabo

Delgado
region
where
the
two
tenements
acquired
by
Mozambi
are
located.
The major
deposits
within
the
Cabo
Delgado
region
include:

Syrah
Resources
(ASX:
SYR)
Balama
Deposit
1.15
Bt
@
10.2%
graphitic carbon
and
0.23
%
V2O5[iii]

Triton
Resources
(ASX:
TON)
Nicanda
Hill
Deposit
1.457
Bt
@
10.7% graphitic
carbon
and
0.27%
V2O5[iv]

License
6142L
is
contiguous
with
Triton
Minerals
Nicanda
Hill
Project.
A
map
of the
tenement
location
is
shown
in
Figure
1.
According
to
Triton
Minerals, Nicanda
Hill
is
the
largest
known
graphite-­‐vanadium
deposit
in
the
world.

Syrah’s
mining
concession
for
the
Balama
Project
is
also
approximately
5km
to the
south
of
6142L.
A
mining
license
has
recently
been
granted
for
this
project.

**Figure

1**

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The
company
is
also
very
excited
about
the
potential
of
License
6140L,
as
this
is a
largely
underexplored
area
which
may
hold
a
lot
of
potential.

Geology

The
underlying
geology
of
the
tenements
are
high
grade
metamorphic
rocks
of the
Mozambique
mobile
belt
which
stretches
from
Mozambique
in
the
south
to the
red
sea
in
the
north
marking
a
continent
scale
suture.
The
belt
comprises rocks
that
have
undergone
intense
deformation,
and
as
a
result
contains
high-­‐ grade
metamorphic
rocks
up
to
granulite
level.

Where
the
initial
host
rock
contained
carbon,
this
is
typically
converted
into graphite
at
this
metamorphic
grade
during
the
metamorphic
process
and
there are
widespread
graphite
occurrences
throughout
the
belt.
Several
areas
within the
mobile
belt
are
known
to
host
large
tonnage
graphite
deposits,
typically
with a
relatively
high
proportion
of
larger
flakes
sizes.
The
deposits
that
have
been identified
to
date
are
primarily
in
Mozambique
and
Tanzania
to
the
north.

The Next Step

There
has
been
limited
fieldwork
conducted
on
the
tenements
acquired
to
date whereby
the
Company
plans
to
begin
fieldwork
immediately
after
the
2
licenses are
granted.
The
company
is
optimistic
of
being
able
to
begin
fieldwork
as
early as
late
February
or
early
March
2015,
pending
necessary
approval
from
the Mozambique
government.

This
fieldwork
will
include
a
program
of:

• Trenching

• Rock
  Chip
  Sampling

• Mapping

• Potentially
  Ground
  Geophysical
  Surveys

This
fieldwork
will
be
aimed
at
confirming
the
theory
that
license
area
6142L contains
a
continuation
of
the
same
stratigraphic
unit
hosting
that
occurs
at
the Balama
and
Nicanda
Hill
Resources.

Work
at
defining
targets
on
license
area
6140L
will
occur
concurrently
and
the company
hopes
to
identify
priority
targets
that
will
then
be
drill
tested
in
order to
define
JORC
compliant
mineral
resources.

Key Terms of the Agreement

The
key
terms
of
the
agreement
are
as
follows:

Upon acquiring the Option

• US$50,000

Upon execution of the Sale Agreement Option

• US$50,000;
  and

• 15
  million
  ordinary
  fully
  paid
  shares
  in
  Mozambi
  Resources
  to
  be
  held
  in voluntary
  escrow
  until
  licenses
  are
  transferred
  to
  MOZ.

On reaching a JORC compliant resource of 300 million tonnes at more than 5% TGC (Total Graphitic Carbon)

• 15
  million
  ordinary
  fully
  paid
  shares
  in
  Mozambi
  Resources
  to
  be
  held
  in voluntary
  escrow
  until
  licenses
  are
  transferred
  to
  MOZ.

On reaching a JORC compliant resource of 600 million tonnes at more than 5% TGC

• US$250,000;
  and

• 15
  million
  ordinary
  fully
  paid
  shares
  in
  Mozambi
  Resources
  to
  be
  held
  in voluntary
  escrow
  until
  licenses
  are
  transferred
  to
  MOZ

An
ongoing
Net
Smelter
Royalty
of
3%
has
also
been
agreed
on
all
minerals.

Conclusion

In
summary,
the
board
of
Mozambi
Resources
are
extremely
pleased
with
the exploration
potential
of
the
licenses
being
acquired
and
the
capital
raising
in December
2014
put’s
the
company
in
a
strong
position
to
unlock
shareholder value
in
the
near
future.

For
and
on
behalf
of
Mozambi
Resources
Limited

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**Alan

Armstrong Mozambi
Resources
Ltd** Executive
Director

Competent

Person

The
information
in
this
report
that
relates
to
Exploration
Targets,
Exploration
Results,
Mineral
Resources
or Ore
Reserves
is
based
on
information
compiled
by
Mr
Matt
Bull,
a
Competent
Person
who
is
a
member
of Australian
Institute
of
Geoscientists.
Mr
Bull
is
a
consultant
to
Mozambi
Resources.
Mr
Bull
has
sufficient experience
that
is
relevant
to
the
style
of
mineralisation
and
type
of
deposit
under
consideration
and
to
the activity
being
undertaken
to
qualify
as
a
Competent
Person
as
defined
in
the
2012
Edition
of
the ‘Australasian
Code
for
Reporting
of
Exploration
Results,
Mineral
Resources
and
Ore
Reserves’.
Matt
Bull consents
to
the
inclusion
in
the
report
of
the
matters
based
on
his
information
in
the
form
and
context
in which
it
appears.

iii http://www.syrahresources.com.au/OurBusiness/OurProjects/BalamaMozambique.aspx

iv ASX
Announcement
(ASX:TON)
21
October
2014
–
“Nicanda
Hill
Maiden
JORC
Resource”