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PRESS RELEASE: Kibaran Resources Limited: EPANKO -6-

3 Apr 2017 6:51 am
                      assessed and reported given constraints of 
                      if material._         topography and 
                                            access. Varying 
                                            orientation of drill 
                                            holes was taken into 
                                            consideration when 
                                            interpreting the 
*Sample security*     _The measures taken   Samples were stored 
                      to ensure sample      at the company's 
                      security._            secure field camp 
                                            prior to dispatch to 
                                            Bureau Veritas Dar 
                                            es Salaam by a 
                                            privately contracted 
                                            transport company, 
                                            who maintained 
                                            security of the 
*Audits or reviews*   _The results of any   Sampling procedures 
                      audits or reviews of  were independently 
                      sampling techniques   reviewed by CSA 
                      and data._            Global as part of 
                                            the preparation of 
                                            the Mineral Resource 
                                            estimate. Kibaran 
                                            senior geological 
                                            personnel reviewed 
                                            sampling procedures 
                                            on a regular basis. 
                                            All drill hole 
                                            results were 
                                            collated and stored 
                                            within a Microsoft 
                                            Access database. A 
                                            random selection of 
                                            assays from the 
                                            database was cross 
                                            referenced against 
                                            the laboratory 
*Section 2 Reporting of Exploration Results (Criteria listed in the preceding 
section also apply to this section.)* 
*Criteria*           *JORC Code             *Commentary* 
*Mineral tenement    _Type, reference       The tenement is 100% 
and land tenure      name/number, location  owned by Kibaran's 
status*              and ownership          wholly owned 
                     including agreements   subsidiary 
                     or material issues     TanzGraphite (TZ) 
                     with third parties     Limited 
                     such as joint          The Epanko deposit 
                     ventures,              lies within granted 
                     partnerships,          mining license 
                     overriding royalties,  ML548/2015. 
                     native title 
                     interests, historical 
                     sites, wilderness or 
                     national park and 
                     The security of the 
                     tenure held at the 
                     time of reporting 
                     along with any known 
                     impediments to 
                     obtaining a licence to 
                     operate in the area._ 
*Exploration done by _Acknowledgment and    Historical reports 
other parties*       appraisal of           exist for the 
                     exploration by other   project area as the 
                     parties._              region was first 
                                            recognised for 
                                            graphite potential 
                                            in 1914 and 1959. No 
                                            more recent 
                                            information exists. 
*Geology*            _Deposit type,         The Mahenge Project 
                     geological setting and is hosted within a 
                     style of               quartz-feldspar 
                     mineralisation._       graphitic schist, 
                                            part of a 
                                            package, including 
                                            marble and gneissic 
                                            units. Two zones of 
                                            graphitic schist 
                                            have been mapped, 
                                            named the Eastern 
                                            Zone and the Western 
                                            Zone. Mineralisation 
                                            is believed to be 
                                            the product of 
                                            sediments subjected 
                                            to regional 
                                            metamorphism induced 
                                            by a north-south 
                                            regional thrusting 
                                            event. The graphitic 
                                            schists contain 
                                            between 3% and 25% 
                                            Total Graphitic 
*Drill hole          A summary of all       Sample and drill 
Information*         information material   hole coordinates are 
                     to the understanding   provided in market 
                     of the exploration     announcement dated 
                     results including a    1st February in 
                     tabulation of the      addition to this 
                     following information  announcement. 
                     for all Material drill 
                     easting and northing 
                     of the drill hole 
                     elevation or RL 
                     (Reduced Level - 
                     elevation above sea 
                     level in metres) of 
                     the drill hole collar 
                     dip and azimuth of the 
                     down hole length and 
                     interception depth 
                     hole length. 
                     If the exclusion of 
                     this information is 
                     justified on the basis 
                     that the information 
                     is not Material and 
                     this exclusion does 
                     not detract from the 
                     understanding of the 
                     report, the Competent 
                     Person should clearly 
                     explain why this is 
                     the case. 
*Data aggregation    In reporting           No high-grade cuts 
methods*             Exploration Results,   were considered 
                     weighting averaging    necessary. 
                     techniques, maximum 
                     and/or minimum grade   Aggregating was made 
                     truncations (eg        for intervals that 
                     cutting of high        reported over 1% TGC 
                     grades) and cut-off    (Total graphitic 
                     grades are usually     carbon). The purpose 
                     Material and should be of this is to report 
                     stated.                intervals that may 
                                            be significant to 
                     Where aggregate        future metallurgical 
                     intercepts incorporate work. 
                     short lengths of high 
                     grade results and      There is no 
                     longer lengths of low  implication about 
                     grade results, the     economic 
                     procedure used for     significance. 
                     such aggregation       Intervals reporting 
                     should be stated and   above 8% TGC are 
                     some typical examples  intended to 
                     of such aggregations   highlight a 
                     should be shown in     significant higher 
                     detail.                grade component of 
                                            graphite; there is 
                     The assumptions used   no implication of 
                     for any reporting of   economic 
                     metal equivalent       significance. 
                     values should be 
                     clearly stated.        No equivalents were 
                                            used because they 
                                            are not relevant to 
                                            graphite Mineral 
                                            Resource estimates. 
*Relationship        _These relationships   All drill holes have 
between              are particularly       been orientated 
mineralisation       important in the       towards an azimuth 
widths and intercept reporting of           so as to be able 

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