An anonymous director reports

KATANGA MINING PROVIDES AN UPDATE ON LEGAL PROCEEDINGS COMMENCED BY GECAMINES

Katanga Mining Ltd. has provided an update on the legal proceedings disclosed by the company on April 20, 2018. As previously disclosed, the company's joint venture partner, the Democratic Republic of the Congo state-owned company, La Generale des Carrieres et des Mines (Gecamines), in the company's 75-per-cent DRC operating subsidiary, Kamoto Copper Co., commenced legal proceedings to dissolve Kamoto following Kamoto's failure to address its previously disclosed capital deficiency or, alternatively, if the court were to provide Kamoto with a period of time within which to regularize the situation, to request the appointment of an expert to assess and report to the court on Kamoto's financial position and its recapitalization plan.

As a precautionary measure, the company obtained a decision from the Supreme Court of the DRC on May 4, 2018, allowing Kamoto to challenge the competency of the Kolwezi Commercial Court to rule on the capital deficiency proceedings. The Kolwezi Commercial Court was notified of the decision of the Supreme Court on May 7, 2018. As a result of the decision of the Supreme Court, the Kolwezi Commercial Court concluded today that the previously scheduled capital deficiency proceedings should be suspended until after the Supreme Court renders its decision. The first hearing of the Supreme Court is scheduled on June 15, 2018.

The company remains determined to find a mutually agreeable resolution of the disputes with Gecamines, which it hopes will revitalize the partnership between Kamoto and Gecamines and provide significant benefits to Gecamines and all stakeholders in the DRC.

About Katanga Mining Ltd.

Katanga Mining operates a major mine complex in the Democratic Republic of the Congo producing refined copper and cobalt. The company has the potential to become Africa's largest copper producer and the world's largest cobalt producer.

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