MANDARIN MINING PLC
LSE : MANP

February 13, 2012 02:00 ET

Exercise of Option

MANDARIN MINING PLC

EXERCISE OF OPTION

Mandarin  Mining Plc ("the Company") is pleased to announce that, in accordance with  our  broader
investment strategy approved by shareholders on 30 November 2012, it has exercised the option (the
"Option") to acquire 66.66% of the entire share capital of Cairo Investments Limited ("Cairo"),  a
BVI  company.   The  Company  has  paid  GBP180,000 to Park Jae  Hyun  as  consideration  for  the
acquisition.

Cairo  has subscribed for, and has been issued and allotted 300 ordinary shares in the capital  of
Rusinko  Pte  Ltd  ("Rusinko"), a company incorporated in  Singapore.   The  300  ordinary  shares
comprise  30% of the enlarged capital of Cairo.  Cairo is satisfied with the results  of  its  due
diligence on the business prospects of Rusinko.

As previously disclosed, Rusinko has filed a patent (the "Patent") for a technology which, through
thermal pulse treatment, may increase the productivity of low producing oil wells by, according to
claims  made by Rusinko's management, up to two times. It is in the form of a device that utilizes
a  high  energy non-detonating composite mixture, in order to produce an implosion that  generates
very  high  heat,  but  for  a very short period of time. Your board has  been  advised  that  the
treatment may last up to 2 years and can be deployed with standard drilling equipment without  the
use of chemicals.

Rusinko  has subscribed for 40,000 ordinary shares in the capital of ARK Drilling Pte Ltd ("ARK"),
a  company incorporated in Singapore comprising 40% of the entire share capital of ARK.  The other
shareholders of ARK are Global Value Ltd and Eric Enero Sumar.  Rusinko has appointed ARK  as  the
distributor  of  the Devices in Indonesia.  Marketing of the Device in Indonesia  is  expected  to
begin soon.  The Company will announce more details as and when appropriate.

The Directors of the Company accept responsibility for this announcement.


FOR FURTHER INFORMATION PLEASE CONTACT:

Fook Meng Chan
Mandarin Mining plc
Tel:  00 65 6236 2985

Nick Michaels
Alfred Henry Corporate Finance Limited
www.alfredhenry.com
Tel: +44 (0)20 7251 3762

13 February 2012

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