Alecto Minerals plc ( Alecto or the Company ) Low Cost Acquisition of the Advanced Kerboulé Gold Project in Burkina Faso Highlights:

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1 Alecto Minerals plc / EPIC: ALO / Market: AIM / Sector: Exploration & Development 17 November 2014 Alecto Minerals plc ( Alecto or the Company ) Low Cost Acquisition of the Advanced Kerboulé Gold Project in Burkina Faso Alecto Minerals plc (AIM: ALO), the AIM quoted mineral exploration company focussed on West and East Africa, is delighted to announce that it has further enhanced its portfolio of gold projects in West Africa by entering into an agreement with Kaizen Discovery Inc. ( Kaizen ) ( Agreement ) for the acquisition, by way of all share consideration, of 100% of Gazelle Resources Incorporated ( Gazelle ) which wholly owns the sq. km. Kerboulé Gold Project ( Kerboulé or the Project ) located in the highly prospective Birrimian-age Djibo gold belt in northern Burkina Faso ( the Acquisition ). The Acquisition is in line with the Company s strategy to identify attractive opportunities and to seek to add value to such projects at a low cost in order to expand its mineral resource portfolio with a view to achieving future production and strategic alliances. Highlights: Extensive exploration and artisanal mining at Kerboulé has highlighted the presence of wide gold mineralisation with high grade shoots across the tenure o Wide mineralisation demonstrated by long intercepts including g/t Au, g/t Au and g/t Au at Kerboulé South, and g/t Au, g/t Au and g/t Au at Kerboulé North o High grade shoots are evidenced by bonanza grades including g/t Au, g/t Au, g/t Au and g/t Au Previous work has highlighted additional drill-ready targets, representing a further source of potential value upside The Acquisition includes a fully equipped exploration camp at Kerboulé and an office in Ouagadougou, the capital of Burkina Faso, and bolsters Alecto s existing inventory of inhouse exploration drilling equipment, thereby facilitating the low-cost advancement of targets and resource-level drilling Excellent location with positive in-country dynamics for miners and close proximity to other producing projects o Kerboulé lies on the same regional trend, just 20km along strike, from the 5 Moz Inata gold mine owned by Avocet Mining plc which produced approximately 118,000 oz Au in 2013 Initial consideration of 350,000 to be satisfied through the issue of 54,996,857 new ordinary shares of 0.01 pence each in the capital of Alecto ( Ordinary Shares ) at a price of pence per Ordinary Share Deferred consideration of US$1.5 million to be paid in shares or cash, at Alecto s sole discretion, on Alecto attaining at Kerboulé:

2 o the definition of a JORC-code compliant inferred resource or equivalent of 1 Moz Au at a minimum cut-off of 0.5g/t Au, or o a JORC-code compliant proven reserve or equivalent of 250,000 oz Au at a minimum cut-off of 0.5 g/t Au, or o production of the first 75,000 oz Au from gold mining operations Kaizen is a Canadian-based technology-focused mineral exploration company. Kaizen s divestiture of the Kerboulé gold project is aligned with its strategy to build a portfolio of highly prospective base-metal projects within the Pacific Rim. The Company believes that Kerboulé is ideally positioned for the definition of a preliminary JORC resource estimate - this, as well as on-going resource expansion, will be the near term focus to provide the basis for commencing a preliminary economic assessment ( PEA ) Alecto s CEO, Mark Jones, commented: This low-cost, all share, strategic acquisition of the advanced and prospective Kerboulé Gold Project in Burkina Faso is a timely addition to our portfolio and in line with our strategy of acquiring complementary assets and rapidly seeking to unlock value at low cost. We believe that Kerboulé is capable of delivering significant returns for the Company and this Acquisition strengthens our asset portfolio by exposing our shareholders to a highly exciting project in a new territory, with extensive existing data and upside potential. Alecto has demonstrated that it is capable of delivering resource ounces at a very low cost, and turning acquisitions into desirable joint venture projects. Accordingly, we have a clear plan to establish a maiden resource at Kerboulé and thereafter expand on it while we identify and assess the earliest route towards monetisation. Whilst Burkina Faso may have been in the news recently due to the popular uprising that saw the departure of long-time President Blaise Compaoré, after 27 years in power, the country is now transitioning towards a newly elected government. Burkina Faso has already shown that despite the political changes it has remained open for business and our first class contacts and network incountry will allow us to operate effectively. Kerboulé Gold Project Kerboulé comprises two contiguous exploration permits, Arae and Gassel-Manere. The permits cover sq. km. across the Birrimian-age Djibo belt and are cross-cut by two known mineralised trends (the Inata and the Souma Trends). The quantity of work completed on the project to date is extensive and includes: Airborne Total Magnetic Field, ground magnetic and Induced Polarisation geophysical surveys Trenching, rock chip, pitting, termite mound sampling and soil geochemistry 19,026 metres of rotary air blast ( RAB ) drilling 3,420 metres of diamond core drilling

3 26,603 metres of Reverse Circulation ( RC ) drilling Over 6,000 auger drill samples Preliminary metallurgical test work on oxide material It is the Company s intention to undertake a preliminary JORC resource estimation and to then utilise its technical team s well-practiced low-cost exploration techniques to expand on this resource. This will provide a solid basis from which to then commence a PEA. Figure 1: Kerboulé Licence Areas and Proximal Projects Kerboulé is an exploration play with a clearly defined mineralised structural corridor located along strike from the Inata gold mine (Avocet Mining plc). Previous exploration activities focussed predominantly on anomalies lying within the Kerboulé-Yalema corridor (the KY Trend ), which forms part of the Inata Shear Zone. These targets include Yalema, Kerboulé North, Kerboulé Main and Kerboulé South, all of which lie on the Kerboulé - Yalema trend. Within the Inata trend, which is a major regional structure that cuts the entire West African Craton and hosts the 5 Moz Inata Gold Mine 20-km to the south, there are numerous gold-in-soil anomalies, which still require drill testing. To the east of the permit, the Souma Trend, which is host to Avocet Mining s 780,000 oz Au Souma deposit, coincides with another vast geochemical and geophysical anomaly, which also continues along strike into the Kerboulé project.

4 Historical drilling intercepted gold mineralisation above a 0.5 g/t cut off in 180 out of 264 RC holes and in all 12 of the completed diamond drilling (DD) holes. Prospect No. of RC Holes Total RC metres No. of Diamond Drill holes Total Diamond Core metres Kerboulé South , ,320 Kerboulé Main 34 3, Kerboulé North 52 6, Kerboulé Village Yalema 18 2, Total , ,420 Table 1: Main prospects and metres drilled at Kerboulé Gold Project At Kerboulé South drilling included significant intercepts of: 2.37 g/t Au from surface 2.39 g/t Au from 67 metres KBS-RC g/t Au from 101 metres 1.27 g/t Au from 13 metres 1.94 g/t Au from 55 metres 1.93 g/t Au from 89 metres At Kerboulé Main highlights included: 4.08 g/t Au from 71 metres 4.44 g/t Au from 39 metres At Kerboulé North highlights included: 3.95 g/t Au from 121 metres 4.0 g/t Au from 121 metres 3.74 g/t Au from 32 metres RC and DD drilling completed to date has proved the existence of an excellent low-grade deposit with locally very high-grade shoots. Several of the targets within the Kerboulé - Yalema structural zone remain open along strike, and all have demonstrated both oxide and sulphide mining potential. The low grade, bulk tonnage potential for this deposit is clear, for example, hole KBS-DD-005 has over g/t. Bonanza grades encountered included g/t Au from 127 metres, g/t Au at 86 metres, g/t Au at 121 metres and g/t Au at 137 metres. These short but high-grade shoots require further investigation to track them and understand their significance, which will be a priority for this season s fieldwork. There are significant potential extensions to all trends within the permit area with crosscutting structures and an interpreted fault offset. There are also several untested targets with extensive artisanal workings and clear geochemical and geophysical anomalies. Mineralisation in the area of Kerboulé tends to exhibit a strong correlation with regional structures occurring primarily with quartz veining and hydrothermal alteration.

5 Included in the Acquisition, is a fully equipped exploration camp at Kerboulé and an office in Ouagadougou, the capital of Burkina Faso. This will enable Alecto s technical team to quickly get to work on the ground without having to wait for in-country infrastructure to be established. Additional assets comprise various vehicles, generators and associated exploration equipment and a vehicle mounted auger-drilling rig which will complement Alecto s existing capability to conduct subterranean investigations at very low-cost. The auger, which can drill to depths of 20 metres, will be used in conjunction with Alecto s RAB drill rig to quickly and efficiently refine RC and DD drill targets thus considerably lowering the usual cost of resource-level drilling going forwards. The unaudited loss before tax for Gazelle for the eight month period ended 31 August 2014 was approximately 122,000. Consideration for Gazelle Pursuant to the Agreement, Alecto will acquire 100% of Gazelle from Kaizen for an initial consideration of 350,000 which will be settled through the issue of 54,996,857 new Ordinary Shares (the Consideration Shares ) at a price of pence per Ordinary Share. The Consideration Shares to be issued to Kaizen will rank pari passu with the Company s existing Ordinary Shares and represent approximately 6.25% of the Company s enlarged issued share capital. In addition, subject to Alecto achieving either the definition of a JORC-code compliant inferred resource or equivalent of 1 Moz Au at a minimum cut-off of 0.5 g/t Au; or a JORC-code compliant proven reserve or equivalent of 250,000 oz Au at a minimum cut-off of 0.5 g/t Au; or the production of 75,000-oz Au from mining operations on the Project, a deferred consideration of US$1.5 million will become payable in either shares or cash, at Alecto s sole discretion. Orderly Market Provisions Under the terms of the Acquisition, Kaizen has agreed that for a period of 12 months following the date of the Agreement, any transfer or disposal of the Consideration Shares shall be effected in such a manner so as to ensure an orderly market in the Ordinary Shares is maintained. Application for trading on AIM and Total Voting Rights Application will be made for the 54,996,857 Consideration Shares to be admitted to trading on AIM. Admission is expected to become effective and dealings commence at 8.00 a.m. on 24 November 2014 ( Admission ). On Admission, the Company will have in issue 880,075,298 Ordinary Shares.

6 The Company has no Ordinary Shares held in treasury. The above figure may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Financial Conduct Authority s Disclosure and Transparency Rules. **ENDS** For further information, please visit or contact: Alecto Minerals plc Mark Jones Tel: +44 (0) Strand Hanson Limited Richard Tulloch Matthew Chandler James Dance Tel: +44 (0) Hume Capital Securities plc Jon Belliss Abigail Wayne Tel: +44 (0) St Brides Media & Finance Ltd Elisabeth Cowell Felicity Edwards Tel: +44 (0) Notes to editors: Alecto Minerals plc Alecto Minerals plc is an African focussed, gold and base metal exploration and development company quoted on AIM with exploration projects in Mali, Ethiopia, Mauritania and, following completion of the abovementioned acquisition, Burkina Faso. The on-going development of the Kossanto Gold Project in Mali is the Company s predominant operational focus and with significant value upside potential evident across the tenure, the Board plans to build on its current independent inferred resource estimate of 6.72Mt grading at 1.14g/t Au for an aggregate of 247,000 oz Au with a cut-off grade of 0.5g/t Au for the Gourbassi target reported in accordance with the guidelines of the JORC Code (2012). Alecto also has a joint venture with Centamin plc over two prospective gold exploration licences in Ethiopia which sees Alecto retain exposure to these assets with no capital expenditure obligations, as well as the wholly owned Wad Amour IOCG Project in Mauritania which is at an exploration stage.

7 Combined, these projects provide the Company with a strong, diversified portfolio with exciting exploration upside potential. Burkina Faso Burkina Faso offers an investor friendly environment for mining companies. Due to its modern and robust mining code, supported by a knowledgeable and credible mines department, the country facilitates the rapid development of projects. It is the fourth largest producer of gold in Africa and is served by essential mining and exploration service companies. There have been more than 50 >1M ounce gold deposits discovered in Burkina Faso so far and it was the biggest recipient of exploration expenditure in Africa in On 31 October 2014, the long-serving president of Burkina Faso, Captain Blaise Compaoré was forced to resign amid a popular uprising sparked by an attempt to change the constitution in order to allow him to serve another term in office. The will of the people was quickly recognised and Compaoré was quickly replaced by a transitional organisation, which has committed to preparing the institutions of the state for free and fair elections within 12 months. The country and its administration were back to normal business within days. This week Lieutenant Colonel Zida, the leader of the transitional government in Burkina Faso gave full assurances to the Burkina Faso Chamber of Mines, of which the company is a member, regarding his and the transitional government s full support for the mineral exploration and mining businesses and to an industry that they recognise plays an integral role in the economy of Burkina Faso.