Consolidated Minerals Limited Announces Final Results of its Offer to Purchase up to U.S.$150 Million in Aggregate Principal Amount of Notes

ST HELIER, Jersey, January 30, 2014 /PRNewswire/ --

Consolidated Minerals Limited (the "Company") announced on December 16, 2013 a tender offer (the "Offer") to purchase for cash an aggregate principal amount of up to U.S.$150,000,000 of the outstanding U.S.$405,000,000 8.875% Senior Secured Notes due 2016 (Reg S ISIN: USG2370YAA40, 144A ISIN: US209504AA71, the "Notes") issued by the Company from eligible holders of the Notes upon the terms and subject to the conditions set out in the Offer to Purchase dated December 16, 2013 (the "Offer to Purchase"). Capitalised terms used and not otherwise defined in this announcement shall have the meaning given to them in the Offer to Purchase.

As of 11:59 p.m., New York City time, on January 29, 2014 (the "Extended Expiration Time"), the aggregate amount of Notes validly tendered in accordance with the Offer was U.S.$10,200,000. The Company has decided to accept for purchase all valid tenders of Notes in full. The Company paid the Tender Offer Consideration plus the Accrued Interest for the Notes validly tendered in accordance with the Offer by 11:59 p.m., New York City time, on January 15, 2014 (the "Original Expiration Time") on January 21, 2014 (the "Original Settlement Date"). The Company will pay the Tender Offer Consideration plus the Accrued Interest for the Notes validly tendered in accordance with the Offer between the Original Expiration Time and the Extended Expiration Time on February 3, 2014 (the "New Settlement Date").

In connection with the Offer, Consolidated Minerals Limited retained Citigroup Global Markets Limited to act on its behalf as the Dealer Manager, and Global Bondholders Services Corporation to act as its Depositary and Information Agent.

DISCLAIMER

The Offer has expired. This announcement is neither an offer to purchase nor a solicitation of an offer to sell the Notes.

The Offer was made only by, and pursuant to the terms of, the Offer to Purchase and the information in this announcement is qualified by reference to the Offer to Purchase. This announcement must be read in conjunction with the Offer to Purchase, including the Offer and Distribution Restrictions in the Offer to Purchase. This announcement and the Offer to Purchase contain important information which should be read carefully before any decision is made with respect to the Offer.

Consolidated Minerals Limited is a leading manganese ore producer with mining operations in Australia and Ghana and it is headquartered in Jersey. The Company's principal activities are the exploration, mining, processing and sale of manganese ore. Additional information may be found at http://www.consmin.com/

SOURCE Consolidated Minerals Ltd