January 24, 2018

KATANGA MINING ANNOUNCES 2014 YEAR END OPERATIONAL HIGHLIGHTS

Katanga Mining Limited (TSX: KAT) (“Katanga” or the “Company“) announces 2014 year end production results.

Mining

During the three months ended December 31, 2014 (“Q4 2014”), the Company mined 1,863,967 tonnes of ore, an 18% increase over the three months ended December 31, 2013 (“Q4 2013”), at an average grade of 4.22% resulting in contained copper in ore mined of 78,606 tonnes. During the year ended December 31, 2014, the Company mined a record 7,433,838 tonnes of ore, a 19% increase over the year ended December 31, 2013, at a grade of 3.91% resulting in contained copper in ore mined of 290,741 tonnes.

 Ore mined at the KOV Open Pit Mine (“KOV Open Pit”) during Q4 2014 was 1,368,624 tonnes, a 32% increase from Q4 2013. The average copper grade of ore mined from KOV Open Pit during Q4 2014 was 4.41%, resulting in contained copper in ore mined of 60,358 tonnes. Waste mined at KOV Open Pit during Q4 2014 was 7,820,548 tonnes, a 17% decrease over Q4 2013. Ore mined at KOV Open Pit during 2014 was 5,382,433 tonnes, a 22% increase over 2013. The average copper grade of ore mined from KOV Open Pit during 2014 was 4.10%, resulting in contained copper in ore mined of 220,702 tonnes. Waste mined at KOV Open Pit during 2014 was 31,243,013 tonnes, a 1% decrease over 2013. Total volume increase was attributed to the addition of 4 new Caterpillar 793D haul trucks in Q2 2014.

 Ore mined at the KTO Underground Mine (“KTO”) during Q4 2014 was 495,343 tonnes, an 8% increase over Q4 2013. The average copper grade of ore mined from KTO during Q4 2014 was 3.68%, resulting in contained copper in ore mined of 18,248 tonnes. Ore mined at KTO during 2014 was 1,943,326 tonnes, a 12% increase over 2013. The average copper grade of ore mined from KTO during 2014 was 3.42%, resulting in contained copper in ore mined of 66,471 tonnes. Total volume increase was primarily due to higher stope availability resulting from increased backfilling and development.

 During Q3 2014, the Company reduced the rate of the T17 Underground Mine development project in order to focus underground mining efforts on KTO and the Kamoto East Underground Mine (“KTE”) (an extension of KTO). T17 Underground Mine development will continue but at a slower rate, with developmental ore extraction now expected to commence in Q2 2015.

 In Q4 2014, the Company commissioned a Caterpillar 24M grader used for road maintenance on the haul roads.

 Additionally, in 2014, the Company commissioned:

o Four new Caterpillar 793D haul trucks operating in KOV to increase ore and waste mining capacity and reduce contractor dependency;

o Two new Caterpillar 992K loaders and two Caterpillar drill rigs at KOV, to increase loading capacity and reduce dependency on contractor primary and secondary drilling;

o Shaft 2 winder upgrade at KTO;

o Modifications to the cement plant at KTO further improving cement backfilling rates; and

o Six Caterpillar AD45 and three new Atlas Copco MT436B underground mine trucks, which is expected to accelerate development, whilst reducing contractor dependency.

Processing

Ore milled at the Kamoto Concentrator (“KTC”) during Q4 2014 was a record 1,722,177 tonnes, a 15% increase over Q4 2013. Ore milled at KTC during 2014 was a record 6,306,027 tonnes, a 13% increase over 2013.

 In Q4 2014, a record 287,604 tonnes of concentrate (28% higher than Q4 2013) containing 51,177 tonnes of copper (8% higher than Q4 2013) were produced. In 2014, a record 905,750 tonnes of concentrate (27% higher than 2013) containing 182,257 tonnes of copper (13% higher than 2013) were produced.

 At Luilu Metallurgical Plant (“Luilu”), copper produced in metal for Q4 2014 totalled a record 42,807 tonnes, a 51% increase over Q4 2013. Copper produced in metal and concentrate for 2014 totalled a record 158,026 tonnes, a 16% increase over 2013.

 Cobalt metal produced totalled 884 tonnes for Q4 2014, a 66% increase from Q4 2013. Cobalt metal produced totalled 2,784 tonnes for 2014, a 21% increase from 2013.

 In Q4 2014, the Company commissioned:

o CM5 SAG mill, while ramping up to 11,700 tonnes per day nameplate capacity;

o EW3B plant (EW3A plant was commissioned during Q3 2014) resulting in a combined overall electrowinning (“EW”) capacity of 300,000 tonnes per annum; and

o A 10 megawatt (“MW”) diesel cogeneration plant.

 Additionally, in 2014, the Company commissioned:

o Oxide flotation roughers at KTC;

o KTC reagent preparation plant and dosing and distribution systems;

o An additional CCD which was converted from an existing oxide receiving thickener at Luilu;

o An oxide receiving thickener CCD conversion at Luilu;

o Lime plant bays and sodium-metabisulfite plants at Luilu;

o Roaster line 2 at Luilu;

o A heap leach pad extension, to increase capacity for the processing of lower grade ore; and

o Diluent storage facility

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