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Katanga Mining Announces 2012 Third Quarter Results And Appoints New Director

Mr. Liam Gallagher has joined Katanga as non-executive Director and Member of the Audit Committee. Mr. Gallagher is currently employed with Glencore International AG and also serves as Director of Mutanda Mining Sprl. He holds an Honours degree in Commerce from Stellenbosch University and is qualified as a Chartered Accountant of South Africa. Mr. Gallagher was appointed for a term expiring at the next annual general meeting of shareholders of the Company in 2013.

This Press Release was prepared under the supervision of Tim Henderson, Technical Consultant, Katanga and a "qualified person" as such term is defined in NI 43-101. Mr. Henderson has reviewed and approved the contents of this press release.

About Katanga Mining Limited Katanga Mining Limited operates a major mine complex in the Democratic Republic of Congo producing refined copper and cobalt. The Company has the potential to become Africa's largest copper producer and the world's largest cobalt producer. Katanga is listed on the Toronto Stock Exchange under the symbol KAT.

Forward Looking Statements This press release may contain forward-looking statements, including, but not limited to, the value of oxide concentrate available to be shipped but not invoiced, the sales value of copper nodules available to be shipped, the increase in copper and cobalt production levels, the first copper cathode production through the new SX plants, the mechanical completion of the Updated Phase IV expansion, the commencement of the export of copper nodules, the anticipated decrease in power disruption relating to the upgrade in power infrastructure and the completion of the feasibility study for the potential T17 underground mine. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the actual results of current exploration activities; actual results and interpretation of current reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of copper and cobalt; possible variations in ore grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, development or construction activities, as well as those factors disclosed in the Company's current annual information form and other publicly filed documents. Although Katanga has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.


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