The board of Shumba Energy Ltd (“Shumba” or the “Company”) is pleased to advise shareholders that agreement has been reached for the establishment of a partnership between Shumba and Kibo Mining PLC (“Kibo”), a multi-asset resource development and energy company focused on South West Tanzania, listed on London’s AIM market and the AltX in Johannesburg, (“the Partnership” or “Transaction”) as referred to in the Company’s announcement published 30 November 2017 and as detailed below.

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