Nyota Minerals Limited ($B!H(BNyota$B!I(B or the $B!H(BCompany$B!I(B) Further high-grade gold mineralisation identified at Tulu Kapi Feeder Zone
Nyota Minerals (ASX/AIM: NYO), the East African focussed gold exploration and development company, is pleased to report high grade drilling results from its flagship Tulu Kapi Gold Project in Ethiopia ($B!H(BTulu Kapi$B!I(B or $B!H(Bthe Project$B!I(B). Highlights
* Further results from Feeder Zone, situated beneath the base of the proposed Tulu Kapi open pit gold mine, underpin the Company$B!G(Bs belief that the ore body has further significant resource potential beyond the current drilled ounces;
* High grade intersections of new Feeder Zone area, including: * 26.0m at 5.24 g/t Au, including 14m at 8.35 g/t Au; * 11.0m at 8.30 g/t Au; * 4.5m at 13.6 g/t Au;
* Mineralisation sufficiently well-defined to warrant further continued step-out drilling in a NNE direction;
* A Prefeasibility Study is expected to commence in Q1 2013 to assess the viability of underground mining of the high-grade Feeder Zone;
* Intersections of additional high grade mineralisation higher up in the deposit, which can be exploited through the proposed open pit, including: * 10m @ 28.4 g/t Au; * 10m @ 8.87 g/t Au; and
* High-grade and wide mineralised intercepts that have the potential to improve the wider Project economics. The Project has a current total Indicated and Inferred JORC Resource of 1.87 million ounces of gold (24.90 million tonnes @ 2.34 g/t gold).

The Definitive Feasibility Study is expected imminently in conjunction with the publication of a Maiden Ore Reserve for the open pit portion of the deposit and will not include the Feeder Zone or any of these new drill results. Richard Chase, Nyota$B!G(Bs Chief Executive Officer commented, $B!H(BTulu Kapi continues to yield high grade results, and re-affirms the prospectivity of the Project beyond the existing drilled open pit area, which we already believe has the potential to be a commercially producing mine.

These results from the current Feeder Zone drill programme, focussed on the ore potential below the current planned open pit area, highlight the grades at depth and importantly confirm the trend established that high-grade gold intercepts exist below the current pit design that are favourable for future mining and extraction.

Accordingly we are very keen to explore the possibility of operating an underground mine in conjunction with the open pit, and more importantly give ourselves the option to supplement open pit gold production with high-grade ore from underground in the future. $B!H(BOn a broader basis our DFS is due imminently which we believe will underpin Tulu Kapi$B!G(Bs economic and technical viability and include our maiden Reserve.

This will be a great step forward in the development of Nyota into a gold producing entity.$B!I(B Feeder Zone Drilling Update These results are from the first phase of the 7,700 metre Feeder Zone drill programme that commenced in September.

Peak results for Feeder Zone intercepts include the following: Borehole No Depth From (m) Depth To (m) Width (m) Grade (g/t Au) TKBH-281 406.00 410.50 4.50 13.6 TKBH-155 407.53 419.00 11.47 8.30 TKBH-285 375.70 388.00 12.30 6.48
402.60 406.40 3.80 6.06 TKBH-182 381.00 390.00 9.00 5.90 TKBH-283 395.00 421.00 26.00 5.24 Inc 408.00 422.00 14.00 8.35 TKBH-155 353.00 355.15 2.15 3.21
395.00 398.00 3.00 5.30 TKBH-182 367.00 371.00 4.00 4.06 TKBH-283 368.00 378.00 10.00 1.60
388.82 393.00 4.18 2.57
Where possible, the Company has drilled the top 200 metres of each hole (i.e.

above the Feeder Zone) using a Reverse circulation ($B!H(BRC$B!I(B) rig and completed each hole with a diamond drill tail.

The Company has allocated two drill rigs to the programme. All samples generated between now and the annual Christmas shutdown will be prepared at the Company$B!G(Bs sample preparation facility based at Tulu Kapi and managed by ALS Global before dispatch to an ALS laboratory in Perth, Australia for analysis. Nyota is undertaking internal modelling and resource estimation on an on-going basis and when all assay results have been received (expected early in Q1 2013) the dataset will be delivered to our consultants for a resource update and to facilitate a Prefeasibility Study. A plan showing the position of drilled holes and currently planned holes is shown in Figure 1, below. Figure 1 - Plan Map - Feeder Zone Drill Programme [cid:image004.jpg@01CDD12C.0F472760]
Prefeasibility Study on the Feeder Zone A Prefeasibility Study is expected to commence in Q1 2013 to assess the viability of underground mining of the high-grade feeder zone.

Work undertaken for the Project$B!G(Bs Definitive Feasibility Study of the open pit mine will feed directly into the study and enable a more rapid assessment of its potential viability. Subject to a positive study outcome, and the availability of funding, it may be possible to access the Feeder Zone in a timescale that would allow for the provision of supplementary high-grade ore feed to the planned Tulu Kapi process plant, shortly after commissioning. Other Tulu Kapi Drill Results In the process of drilling the Feeder zone, the Company has made further intersections of mineralisation higher in the ore sequence which is expected to be included in the Tulu Kapi open pit.

These new results will benefit the Tulu Kapi Project in a number of ways:
* provides additional confirmation of the proven geological model and the continuity of mineralisation; * introduces both additional high-grade and wide mineralised intercepts that may further improve Project economics; * provides additional infill in areas currently classified as Inferred in terms of Resource category and therefore the possibility of conversion to an Indicated status at the next update. Peak intercepts include the following; Borehole No Depth From (m) Depth To (m) Width (m) Grade (g/t Au) TKBH-280 218.00 228.00 10.00 28.40 TKRC-318 155.00 157.00 2.00 22.50 TKBH-255 285.90 289.00 3.10 21.33 TKBH-280 243.25 244.00 0.75 20.80
272.00 278.45 6.45 17.86 TKRC-167 160.00 161.00 1.00 13.45 TKBH-255 319.00 320.83 1.83 11.82 TKRR-315 0.00 3.00 3.00 11.50 TKBH-280 283.80 288.00 4.20 10.97
200.00 202.00 2.00 10.70 TKBH-283 318.00 319.43 1.43 9.20 TKBH-286 195.20 197.55 2.35 9.20 TKRC-318 159.00 169.00 10.00 8.87 TKBH-286 206.35 210.00 3.65 8.00 TKRC-315 198.00 200.00 2.00 7.70 TKBH-255 332.90 337.00 4.10 7.24 TKBH-155 256.00 257.70 1.70 5.32 TKRC-322 128.00 137.00 9.00 4.63 TKBH-286 256.00 258.00 2.00 4.36
286.35 288.00 1.65 4.06 TKBH-155 222.15 224.00 1.85 3.90 TKBH-285 309.30 307.55 1.75 3.24 TKRC-167 1.00 5.00 4.00 3.08 TKBH-286 212.00 214.90 2.90 2.80
242.50 248.85 6.35 1.57 TKBH-280 208.90 216.00 7.10 1.04 Information on assay data and drilling RC and DDH drilling follow standard protocols that have been validated and refined by a number of independent consultants who have visited the Tulu Kapi site and monitored drilling operations. Sampling protocols and sample preparation procedures employed in the laboratory located at Tulu Kapi and operated by ALS Chemex have also been reviewed and found to be of an appropriate standard. The Company inserts standards, blanks and duplicates in all its sample batches dispatched for assay and implements strict QA/QC procedures to monitor the assays attributable to these standards, blanks and duplicates. Estimation of grade and mineralised widths A cut$B!>(Boff was employed of 0.30g/t Au for saprolite and for fresh rock.

Any intercept of less than the respective cut$B!>(Boff was generally excluded from any grade and mineralised width estimate except where an individual sample of 1.0m or less occurred between samples returning grades higher than cut$B!>(Boff; in which case single samples of 1.0m or less that were below the cut$B!>(Boff would be included in a mineralised intersection. Competent Person The technical exploration and mining information contained in this Announcement has been reviewed and approved by Mr D Hage Pr.Sci.Nat, Chief Geologist for Nyota Minerals Limited.

Mr Hage has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity to which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves and as a qualified person under the AIM Note for Mining, Oil and Gas Companies.

Mr.

Hage is an employee of Nyota Minerals Limited and is a Member of the South African Council for Natural Scientific Professions (SACNASP).

Mr Hage consents to the inclusion in this Announcement of such information in the form and context in which it appears. For enquiries please contact: Richard Chase (CEO) / Anthony Rowland (Business Development) Nyota Minerals Limited +44 (0) 2074005740
NOMAD Richard Morrison / Jen Boorer RFC Ambrian Limited +44 (0)20 3440 6800 BROKER Guy Wilkes Ocean Equities Limited (+44) (0) 20 7786 4370 BROKER Rory Scott Mirabaud Securities LLP +44 (0)20 7878 3360 FINANCIAL PR Hugo de Salis / Susie Geliher / Elisabeth Cowell St Brides Media & Finance Ltd +44 (0) 20 7236 1177 Or visit: http://www.nyotaminerals.com Forward-Looking Statements This press release contains forward-looking statements in relation to the Company and its subsidiaries (the $B!H(BGroup$B!I(B), including, but not limited to, the Group$B!G(Bs proposed strategy, plans and objectives, future commercial production, sales and financial results, development, construction and production targets and timetables, mining costs and economic viability and profitability.

Such statements are generally identifiable by the terminology used, such as $B!H(Bmay$B!I(B, $B!H(Bwill$B!I(B, $B!H(Bcould$B!I(B, $B!H(Bshould$B!I(B, $B!H(Bwould$B!I(B, $B!H(Banticipate, $B!H(Bbelieve, $B!H(Bintend$B!I(B, $B!H(Bexpect$B!I(B, $B!H(Bplan$B!I(B, $B!H(Bestimate$B!I(B, $B!H(Bbudget, $B!H(Boutlook or other similar wording.

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