Consolidated Minerals Limited ("Consmin" or "The Company") Announces that the Senior Secured Notes Due 2020 Have Been Cancelled and Redeemed in Full

SAINT HELIER, Jersey, December 20, 2017 /PRNewswire/ --

We refer to the indenture dated May 12, 2014 (the "Original Indenture"), as amended and restated by the First Supplemental Indenture dated August 15, 2016, as further amended by the Second Supplemental Indenture dated May 22, 2017, and as further amended and restated by the Third Supplemental Indenture dated September 7, 2017 (the Original Indenture as amended and restated by the First Supplemental Indenture, as further amended by the Second Supplemental Indenture, and as further amended and restated by the Third Supplemental Indenture being, the "Indenture"). Capitalized terms used in this announcement and not otherwise defined herein have the meanings ascribed to them in the Indenture.

Pursuant to certain agreements with the Company's sole shareholder, China Tian Yuan Manganese Limited, Notes in an aggregate principal amount of US$431,208,846 were cancelled by the Company on December 5, 2017 (the "Cancellation"), following which only US$258,658 in aggregate principal amount of Notes remained outstanding.

On December 8, 2017, the Company issued a redemption notice for the remaining US$258,658 in aggregate principal amount of the Notes. The applicable redemption price was deposited with the Paying Agent on December 14 and, on December 18, 2017, such remaining outstanding Notes were redeemed in full (the "Redemption").

Accordingly, following the Cancellation and Redemption, no Notes remain outstanding.

About Consolidated Minerals Limited

Consmin is a leading manganese ore producer with mining assets in Australia and Ghana. The principal activities of the Company and its subsidiaries (the "Group") are the exploration, mining, processing and sale of manganese products. The Group's operations are primarily conducted through four major operating/trading subsidiaries: Consolidated Minerals Pty Limited (Australia), Ghana Manganese Company Limited (Ghana), Manganese Trading Limited (Jersey) and Pilbara Trading Limited (Jersey).

Consolidated Minerals Limited is headquartered in Jersey and the address of its office is Commercial House, 3 Commercial Street, St Helier, Jersey, Channel Islands, JE2 3RU.

Important Notice  

These materials may contain forward-looking statements regarding future events or the future financial performance of Consolidated Minerals Limited (the "Company"). You can identify forward looking statements by terms such as "expect", "believe", "estimate", "anticipate", "intend", "will", "could", "may", or "might", the negative of such terms or other similar expressions. These forward-looking statements include matters that are not historical facts and statements regarding the Company's intentions, beliefs or current expectations concerning, among other things, the Company's results of operations, financial condition, liquidity, prospects, growth, strategies, and the industry in which the Company operates. By their nature, forward-looking statements involve risks and uncertainties, because they relate to events and depend on circumstances that may or may not occur in the future. The Company cautions you that forward-looking statements are not guarantees of future performance and that the Company's actual results of operations, financial condition, liquidity, prospects, growth, strategies and the development of the industry in which the Company operates may differ materially from those described in or suggested by the forward-looking statements contained in these materials. In addition, even if the Company's results of operations, financial condition, liquidity, prospects, growth, strategies and the development of the industry in which the Company operates are consistent with the forward-looking statements contained in these materials, those results or developments may not be indicative of results or developments in future periods. The Company does not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in forward-looking statements of the Company, including, among others, general economic conditions, the competitive environment, as well as many other risks specifically related to the Company and its operations, including those discussed in these materials.