Minbos Resources : Tranche 1 of Capital Placement Completed

886cc8b7-f7d4-4671-a8e9-46ecf548757a.pdf

ASX Code: MNB‌

23 February 2016

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/MEDIA RELEASE

TRANCHE 1 OF CAPITAL PLACEMENT COMPLETED

Minbos Resources Limited ("Minbos" or the "Company") is pleased to announce that it has completed Tranche 1 of the capital placement which was announced on 19 February 2016. The total capital placement is for 680 million shares at $0.005 per share to Green Services Innovations Ltd which will raise $3.4 million gross proceeds.

Tranche 1 consisting of 268 million shares was issued today using the Company's existing 15% capacity under Listing Rule 7.1 and part of the 10% capacity under Listing Rule 7.1A. The 412 million shares under Tranche 2 will be issued following shareholder approval at a General Meeting to be scheduled in April 2016.

The proceeds from the capital placement will fund the Bankable Feasibility Study of the Cabinda phosphate project and will be used for working capital purposes.

An Appendix 3B and Section 708 A Notice are attached.

ENDS

For further information please contact

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

Stef Weber 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 in order 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

Appendix 3B

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13

Name of entity

MINBOS RESOURCES LIMITED

ABN

93 141 175 493

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1	+Class of +securities issued or to be issued	Fully paid ordinary shares
2	Number of +securities issued or to be issued (if known) or maximum number which may be issued	268,000,000 fully paid ordinary shares
3	Principal terms of the +securities (e.g. if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)	Fully paid ordinary shares

4	Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted +securities? If the additional +securities do not rank equally, please state: the date from which they do the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment	Yes
5	Issue price or consideration	Issue price of $0.005 per share
6	Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)	Proceeds from the placement will be used for the Bankable Feasibility Study of the Cabinda phosphate project and for working capital purposes.
6a	Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A? If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i	Yes
6b	The date the security holder resolution under rule 7.1A was passed	20 November 2015
6c	Number of +securities issued without security holder approval under rule 7.1	206,433,732 fully paid ordinary shares
6d	Number of +securities issued with security holder approval under rule 7.1A	61,566,268 fully paid ordinary shares

+ See chapter 19 for defined terms.

Appendix 3B Page 2 04/03/2013

6e	Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)	Nil
6f	Number of +securities issued under an exception in rule 7.2	Nil
6g	If +securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the +issue date and both values. Include the source of the VWAP calculation.	Yes the issue price of the shares is $0.005 An independent broking firm provided the calculation of the 15 day trading VWAP which is $0.0023 up to and including 18 February 2016. 75% of this price is $0.0017
6h	If +securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements	N/A
6i	Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements	Capacity under LR 7.1 is Nil Capacity under LR 7.1A is 76,056,220
7	+Issue dates Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A. Cross reference: item 33 of Appendix 3B.	23 February 2016
Number	+Class
8	Number and +class of all +securities quoted on ASX (including the +securities in section 2 if applicable)	1,644,224,881	Fully paid ordinary shares (MNB)