Minbos Resources : Change in Management Team

ASX Code: MNB

2 May 2017

PERTH OFFICE

Suite 1,

245 Churchill Avenue

Subiaco WA 6008

T: [phone]

E:[e-mail] W:www.minbos.com

ABN: 93 141 175 493

ASX ANNOUNCEMENT CHANGE IN MANAGEMENT TEAM

Minbos Resources Limited (Minbos or Company) advises that Mr David Sadgrove has been appointed as Company Secretary/Chief Financial Officer on a contract basis effective 3 May 2017 following the resignation of Mr Stef Weber.

Minbos CEO Mr Lindsay Reed thanked Mr Weber for his valuable contribution to Minbos over the last 2 ½ years and wished him well in his new position with another resource company.

Mr Sadgrove is a qualified chartered accountant and company secretary with 25 years' experience with dual listed companies including mining and resources companies. His experience includes debt funding, mergers and acquisitions, international tax planning, treasury management and hedging plus company secretarial matters.

In his previous role Mr Sadgrove was the Chief Financial Officer and Company Secretary for Troy Resources for 8 years. Earlier in his career Mr Sadgrove also worked for Ernst and Young.

On behalf of the Board Mr Peter Wall said: "Minbos is pleased to appoint someone of Mr Sadgrove's ability. His experience in the resources industry and in mergers and acquisitions will be of considerable value for Minbos".

For further information, please contact

Lindsay Reed Chief Executive Officer [e-mail] [phone]

David Sadgrove Company Secretary [e-mail] [phone]

About Minbos

Minbos Resources Limited (ASX: MNB) is an ASX-listed exploration and development company focused on phosphate ore within the Cabinda Province of Angola. Through its subsidiaries and joint ventures, the Company is exploring over 200,000ha of highly prospective ground hosting phosphate ore.

Minbos is focussing on the development of the high grade Cacata project in Cabinda whilst growing its current resource base in incremental stages on the remaining deposits in Angola.

The Company's strategy is to specifically target the exploration and development of low cost fertiliser-based commodities to tap into the growing global demand for fertilisers. Phosphate is an essential component in certain agricultural fertilisers, with the market supported by the increasing global demand for food and bio-fuel products.

For more information, visit www.minbos.com