Tulu Kapi Gold Project

completed

Nyota Minerals Ltd (the “Company” or “Nyota”) is a mineral exploration company with exploration properties in Ethiopia and Burundi. Nyota’s most advanced exploration target is the Tulu Kapi gold project (“Tulu Kapi”), located in western Ethiopia, 510 km from Addis Ababa. The Company acquired its 100% interest in the Tulu Kapi exploration license through the acquisition of Minerva Resources in July 2009.Nyota announced a JORC (Joint Ore Reserves Committee) compliant inferred resource of 690,000 oz of gold at Tulu Kapi in September 2009. It is the Company’s intent to increase this resource and progress Tulu Kapi to the mine development phase. Nyota is seeking IFC’s engagement as a strategic partner to help, among other reasons, develop Tulu Kapi in line with industry best-practice in environmental and social sustainability. IFC’s equity investment will support: (i) continued exploration activities; (ii) scoping studies and environmental and social impact assessments; and (iii) working capital needs.