Mukuba Announces Closing of Share Compensation Payments

TORONTO, Sept. 25, 2012 /CNW/ - Mukuba Resources Limited (TSX-V:MKU) ("Mukuba" or the "Company") is pleased to announce that it has issued 416,666 common shares to each of Mr. John Hawkrigg, Mr. Martin Horgan, Mr. Danny Keating, Mr. Michael Smyth, all directors of Mukuba, and Mr. Kelly Ehler, President and Chief Executive Officer of Mukuba, in satisfaction of the previously announced compensation payments in lieu of fees and services rendered to the Company (the "Share Compensation Payments"). The Share Compensation Payments were approved by shareholders of the Company on August 30, 2012 and remain subject to final acceptance by the TSX Venture Exchange. The securities issued as part of the Share Compensation Payments may not be traded before January 25, 2013.

About the Company

Mukuba is a Canadian mining company focused on the exploration and development of certain African base metal assets alone and through a joint venture partner. These assets include a 100% interest in the Northcore Project, which is licensed for both copper and cobalt and encompasses approximately 2,209 square km of geologically prospective ground in the Central African Copperbelt region of Zambia. Mukuba is also a party to a joint venture with Benzu Resources Limited to explore and develop a copper and base metals project in the Democratic Republic of the Congo.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking Information

Securities regulators encourage companies to disclose forward-looking information to help investors understand a company's future prospects. This press release contains statements about our future business and planned activities, including matters relating to the issuance of shares. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements usually include words such as may, intend, plan, expect, anticipate, believe or other similar words. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this press release. You should not place undue reliance on forward-looking statements. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations.

SOURCE: Mukuba Resources Limited

Kelly Ehler, President and CEO
TEL: [phone] FAX: [phone]
Email: [email protected]