ACACIA MINING PLC - Update on the export of metallic mineral concentrates

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

24 May 2017

Acacia Mining plc

LSE:ACA

(“Acacia” or the “Company”)

Further update on the export of metallic mineral concentrates

Acacia notes the findings of the Presidential Committee’s investigation into the export of gold/copper concentrates which were presented to the President of Tanzania H.E. Dr. John P. Magufuli this morning. The Committee has stated that Acacia has not fully declared all of the minerals contained in the concentrate and the directive halting the export of metallic mineral concentrates remains in place.

Acacia has not yet seen a full copy of the report, which states that the value of minerals within the concentrates in the containers currently at the Dar es Salaam port is more than 10 times the declared amount. We are seeking a full copy of the report and further clarification.

Acacia re-iterates that it fully declares everything of commercial value that we produce and pay all appropriate royalties and taxes on all of the payable minerals that we produce.

 Acacia will provide a further update to the market as soon as practical.

ENQUIRIES

For further information, please visit our website: http://www.acaciamining.com/ or contact:

Acacia Mining plc                                                                                                             [phone]

Giles Blackham, Investor Relations Manager

Bell Pottinger                                                                                                                     [phone]

Lorna Cobbett

Disclaimer and forward-looking statements

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of Acacia in any jurisdiction.

This announcement includes “forward-looking statements” that express or imply expectations of future events or results as opposed to historical facts. These statements include, financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future production, operations, costs, projects, and statements regarding future performance. Forward-looking statements are generally identified by the words “plans,” “expects,” “anticipates,” “believes,” “intends,” “estimates” and other similar expressions.

All forward-looking statements involve a number of risks, uncertainties and other factors, many of which are beyond the control of Acacia, which could cause actual results and developments to differ materially from those expressed in, or implied by, the forward-looking statements contained herein. Factors that could cause or contribute to differences between the actual results, performance and achievements of Acacia include, but are not limited to, changes or developments in political, economic or business conditions or national or local legislation or regulation in countries in which Acacia conducts - or may in the future conduct - business, industry trends, competition, fluctuations in the spot and forward price of gold or certain other commodity prices (such as copper and diesel), currency fluctuations (including the US dollar, South African rand, Kenyan shilling and Tanzanian shilling exchange rates), Acacia’s ability to successfully integrate acquisitions, Acacia’s ability to recover its reserves or develop new reserves, including its ability to convert its resources into reserves and its mineral potential into resources or reserves, and to process its mineral reserves successfully and in a timely manner, Acacia’s ability to complete land acquisitions required to support its mining activities, operational or technical difficulties which may occur in the context of mining activities, delays and technical challenges associated with the completion of projects, risk of trespass, theft and vandalism, changes in Acacia’s business strategy and ongoing implementation of operational reviews, as well as risks and hazards associated with the business of mineral exploration, development, mining and production and risks and factors affecting the gold mining industry in general. Although Acacia’s management believes that the expectations reflected in such forward-looking statements are reasonable, Acacia cannot give assurances that such statements will prove to be correct. Accordingly, investors should not place reliance on forward-looking statements contained in this announcement.

Any forward-looking statements in this announcement only reflect information available at the time of preparation. Subject to the requirements of the Disclosure and Transparency Rules and the Listing Rules or applicable law, Acacia explicitly disclaims any obligation or undertaking publicly to update or revise any forward-looking statements in this announcement, whether as a result of new information, future events or otherwise. Nothing in this announcement should be construed as a profit forecast or estimate.

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