Pathfinder Minerals plc: December 2012

Tuesday 4 December 2012

Response to Pathfinder Minerals' recent announcements re court action

Companhia Mineira de Naburi (“CMdN”)

The Directors of CMdN note the recent announcements by Pathfinder Minerals regarding its legal action in respect of the shares of CMdN it claims to own.

Following the decision of the Judicial Court of Maputo city (the “Court”) to suspend the previous Interdict obtained by CMdN, which prevented Pathfinder Minerals continuing proceedings in the UK court until a judgement had been made by the court in Mozambique, the Directors of CMdN filed an appeal on 29 November 2012 to suspend such decision.

General Veloso is a highly distinguished Mozambican who, after a decorated career in the armed forces following the country's independence, held many prominent government positions, including Minister of State Security, General Director of the Intelligence Services, Minister of Economic Affairs and Minister of International Cooperation. From 2003-2009 he was Chairman of the Mozambique Chamber of Commerce.

General Veloso is an adviser to the President of the Republic of Mozambique and a member of the National Defence and Security Council. He has acted as the President of the Republic of Mozambique's envoy on numerous occasions, mainly in the matters of the establishment of peace in Mozambique and Angola, the end of apartheid in South Africa and Namibian independence. General Veloso was the chairman of the Government Commission that negotiated the M'Komati Accord of "good neighbourliness and non-aggression" with the Republic of South African 1984. He remains, today, the President of the South Africa-Mozambique Friendship Association.