MWANA AFRICA PLC - Bindura Nickel Corp - Closure of Bond Issue

2 March 2015

Mwana Africa PLC

("Mwana", the "Group" or the "Company")

Bindura Nickel Corporation announces closing of US$ 20 million bond issue for
the smelter restart

Mwana is pleased to announce that, further to the Company's announcement on 21
November 2014, Bindura Nickel Corporation Limited ("BNC"), its 74.73% owned
subsidiary, successfully closed its fully subscribed $20 million Bond offer on
27 February 2015.

The net proceeds from this issue will be used to purchase new equipment for
BNC's smelter which is due to be re-opened in approximately nine months' time.

Kalaa Mpinga, CEO of Mwana, commented:

"We are delighted with the successful completion of the bond offering. The
proceeds from this issue will be invested in restarting the smelter at Bindura.

The closing of the corporate bond offer demonstrates the confidence the
Zimbabwean financial institutions have in the prospects for BNC and its
management team to provide a financial return whilst delivering tangible social
benefit through job creation and in-country beneficiation of Zimbabwe's natural
resources with the support of the Government of Zimbabwe. In particular,
Ecobank Zimbabwe has donated its time and efforts to ensuring this bond issue
is a success and thus reaffirming its commitment to helping build a market for
those seeking investments.

This is the first corporate bond to be issued for a mining company with both
Prescribed and Liquid Asset status, and we shall endeavour to deliver on the
stated 12-month accelerated smelter restart plan."

For further information contact:

Mwana Africa PLC

Kalaa Mpinga, CEO                       Tel: + 44 (0) 203 696 5470

Caroline Mathonsi, Investor Relations

Nominated Adviser and Broker

Peel Hunt LLP

Matthew Armitt / Ross Allister          Tel: +44 (0) 20 7418 8900

Public Relations

Russell and Associates

Jim Jones/Leigh King Tel: +27 (0) 11 880 3924