BLACK VOLTA

BLACK VOLTA acquired on June 28, 2012 that Prior to Ibaera’s involvement, Azumah had spent over 10 years and US$80m on exploration of the Project, defining a reserve of 600,000 oz @ 1.8 g/t Following an almost 30-month program, Ibaera has invested directly and via its acquisition of Azumah Resources a further US$45m to define a new 1.3 Moz Reserve and completed a Definitive Feasibility Study which supports a 11-ycar mine life, including production of 162,751 oz p.a. at 1.92 g/t for the first 5 years of production (148 koz pa for the first 9 years), the majority of which will be mined from an open pit operation.

Ibaera is an in vestor, explorer and developer of mining projects but docs not have the mandate to build and operate these mines as majority owner. As such, Ibaera is seeking parties with the funding and skill set to build and operate successful mines such as Black Volta.

With the Project now build ready and holding mining licenses, environmental permits, completed studies and a Resource from more than 30,000 drill holes, Ibaera has appointed ICA Partners and is seeking expressions of interest to acquire the Project.