Consolidated Minerals Limited ("Consmin" or "the Company") Announces That China Tian Yuan Manganese Limited is Extending the Expiration Date in the Offer to Purchase and Consent Solicitation Statement Dated April 4, 2017 (the "Statement") With Respect to

ST HELIER, Jersey, April 21, 2017 /PRNewswire/ --

Senior Secured Notes due 2020 

Regulation S Notes: ISIN USG2370YAB23 / CUSIP G2370YAB2 

Rule 144A Notes: ISIN US209504AB54 / CUSIP 209504AB5 

The Statement invites holders of the Notes (the "Noteholders") to tender their Notes and concurrently solicits the consent of the Noteholders to certain proposed amendments to the terms of the Notes as more fully set out in the Statement.

Capitalized terms used in this announcement and not otherwise defined herein have the meanings ascribed to them in the Statement.

As the Ghana Consent Condition has not yet been satisfied as at the date of this announcement, the Offeror has given notice that the Expiration Date is extended to 11:59pm (EST) on May 31, 2017.

As detailed in the Statement and accompanying announcements, in relation to the Ghana Consent Condition, notice of the proposed Acquisition has been submitted to the Minerals Commission of the Republic of Ghana ("MinCom"), certain documentation has been provided to MinCom, and the necessary consideration fees have been paid.

On April 19, 2017, the MinCom requested further information in connection with the Ghana Consent Condition. The Company and the Offeror are working to provide this information, and secure satisfaction of the Ghana Consent Condition, as quickly as possible.

As per the Statement, if, following any extension of the Expiration Date, the Ghana Consent Condition is satisfied or waived, the Offeror may, by not less than 5 New York Business Days' written notice to Noteholders, change the Expiration Date to an earlier date. If and when the Ghana Consent Condition is satisfied, the Offeror intends to promptly give such notice and change the Expiration Date to an earlier date.

Noteholders are advised to read carefully the Statement for full details of, and information on the procedures for participating in, the Offer.

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).