Ann: Epanko Mineral Resource Upgrade, page-3

Epanko Mineral Resource Upgrade

Mineral Resource estimate for the Epanko deposit has now been upgraded and re-classified as
Measured and Indicated (M+I)
62% of the Mineral Resource estimate is now M+I which totals 14.5 Mt at 9.8% TGC for 1.4 Mt of
contained graphite
46% of M + I Mineral Resource estimate classified as Measured
The Mineral Resource supports the previously announced expanded production scenario which
would involve producing 100,000tpa of concentrate over 20 years with no further exploration
required
Upgraded Mineral Resource estimate will be the basis for the BFS which is nearing completion

Kibaran Resources Limited (ASX: KNL), (‘Kibaran’ or the ‘Company’) is pleased to announce the Mineral
Resource for the Epanko Graphite Project in Tanzania has been upgraded with a significant proportion of the
previously reported Indicated Mineral Resource now classified as Measured. The Mineral Resource estimate
totals 23.3 million tonnes (Mt) grading 9.4% total graphitic carbon (TGC) for 2,194,600 tonnes of contained
graphite