Aditya Birla Minerals : REVISED MINERAL RESOURCE AND DESIGN STOPE RECOVERY UPDATE

CONTACT INFORMATION

29 February 2016

Company Announcements Platform Australian Securities Exchange Limited

REVISED MINERAL RESOURCE AND DESIGN STOPE RECOVERY UPDATE

Aditya Birla Minerals Limited (ASX - ABY) ("Aditya Birla" or "The Company") provides the following update to the Mineral Resource as at 31 March 2015, as disclosed on 28 April 2015.

As part of the analysis of all aspects of the operations throughout the Strategic Review, it has come to the attention of the Company that there were certain anomalies in the drill hole database used for the Sulphide resource estimate for the Nifty Copper Operations. These anomalies have been analysed and the Company provides the following update to its Mineral Resource Update as at 31 March 2015.

Other mineral resource estimates for Nifty Oxide, Heap Leach and resources estimates for the Maroochydore Copper Project remain unchanged.

The revised "in-situ Sulphide" Mineral Resource for the Nifty Copper Operations as at 31/03/2015 totals 25.25Mt @ 2.11% Cu as against 26.32Mt @ 2.11% reported earlier, above a reporting cut-off of 1.2% Cu. The below Table-A details the difference between revised and earlier estimates.

Table - A: Sulphide Resources as at 31/03/2015 at Nifty Copper Operations

MINTYPE	CUT- OFF	CAT	As announced on 28/04/2015		Revised estimates		Difference
			Tonnes (Mt)	Cu %	Tonnes (Mt)	Cu%	Tonnes (Mt)	Cu %
Chalcocite	1.2	Measured	2.71	2.25	2.79	2.03	0.08	-0.22
		Indicated	1.02	2.08	0.56	1.97	-0.46	-0.11
		Inferred	0.18	2.04	0.04	1.43	-0.14	-0.61
Sub Total			3.91	2.20	3.39	2.01	-0.52	-0.18
Chalcopyrite	1.2	Measured	15.02	2.23	14.77	2.24	-0.25	0.01
		Indicated	3.6	1.89	3.52	1.96	-0.08	0.07
		Inferred	3.79	1.79	3.57	1.81	-0.22	0.02
Sub Total			22.41	2.10	21.86	2.12	-0.55	0.02
Total (Chalcocite + Chalcopyrite)			26.32	2.11	25.25	2.11	-1.07	0.00

Design Stope Recovery

As advised on 12th November 2015, during the first half of the year, the Company experienced a dilution of grade by approximately 9% compared to the design stope grade in the Life of Mine model. The Company was of the view at that time that the dilution in grade may not be globally applicable to the entire reserve tonnage and will not necessarily continue in the future. The Company can now advise that dilution has continued in some of the stopes during the second half of the year to date and poor stope ore recovery and lower grade due to higher dilution is being observed. This, along with revised resource model, is likely to have an impact on the total reserve however, the full extent has not yet been determined.

The company has started the process of the Mineral Resource and Reserve Update as at 31 March 2016 and is expected to be announced in April 2016.

For further information on this release, please contact:

Aditya Birla Minerals Limited

Neel Patnaik - Managing Director Shanti Dugar - Chief Financial Officer Peter Torre - Company Secretary

Telephone [phone]

Facsimile: [phone]

Email: [e-mail]

Appendix - 1 Aditya Birla Minerals Limited Mineral Resources as at 31st MARCH 2015- Revised
Cut-off Grade		Measured Resource		Indicated Resource			Inferred Resource			Total Resource
NIFTY COPPER OPERATIONS - Mineral Resources as at 31 March 2015
Tonnes	Tonnes	Co	Tonnes	Co	Tonnes	Co
		%		Cu %		Cu %	Cu %	Cu %
(Mt)	(Mt)		ppm		(Mt)				ppm	(Mt)	ppm
In situ Oxide	0.4	1.43	0.91	1.22	0.86	-	1.68	0.83	-	4.33	0.87	-
Sub Total Oxide		1.43	0.91	1.22	0.86	-	1.68	0.83	-	4.33	0.87	-
In situ Sulphide	1.2	17.56	2.21	4.08	1.96	-	3.61	1.81	-	25.25	2.11	-
Broken Ore Stocks - Sulphide	N/A	-	-	-	-	-	-	-	-	-	-	-
Sub Total Sulphide		17.56	2.21	4.08	1.96	-	3.61	1.81	-	25.25	2.11	-
Heap Leach Pad	0.5	-	-	2.85	0.75	-	0.46	0.66	-	3.31	0.74	-
Sub Total Heap Leach pad		-	-	2.85	0.75	-	0.46	0.66	-	3.31	0.74	-
Total Mineral Resource		18.99	2.11	8.15	1.37	-	5.75	1.43	-	32.90	1.81	-
MAROOCHYDORE COPPER PROJECT - Mineral Resources as at 31 March 2015
In situ Oxide and Supergene	0.5	-	-	40.80	0.92	388	2.30	0.81	451	43.20	0.91	391
In situ Sulphide	1.1	-	-	-	-	-	5.43	1.66	292	5.43	1.66	292
Total Mineral Resource		-	-	40.80	0.92	388	7.73	1.41	339	48.63	0.99	380
GRAND TOTAL	18.99	2.11	48.95	1.00	13.48	1.42	81.53	1.32

Note : Mt Gordon Copper Project was sold to Lighthouse Minerals Ltd as announced to the market on 21/09/2015 and accordingly resources of Mt Gordon Project have been excluded.

Competent Person Statement:

The information in this release that relates to Mineral Resources for the Nifty and Maroochydore deposits is based on and accurately reflects reports prepared by Mr Peter Ball and Mr Sean Sivasamy from 2013 to 2015.

Mr Ball is a member of the AusIMM (CP-Geo) and Mr Sivasamy is a Member of the AusIMM. Mr Ball and Mr Sivasamy have the necessary experience relevant to the style of mineralisation, the type of deposit and the activity undertaken to qualify as a 'Competent Person' under the JORC Code for Reporting of Mineral Resources and Ore Reserves (2012 Edition). Mr Ball and Mr Sivasamy have given their consent to the inclusion of the material in the form and context in which it appears. Mr Ball is Principal of DataGeo Geological Consultant (an independent geological consultancy). Mr Sivasamy is a full time employee of Aditya Birla Minerals Limited (ABML).

The Measured and Indicated Mineral Resources tabled above are inclusive of those Mineral Resources modified to produce the Ore Reserve. In all Resources tables, significant figures do not imply precision. Figures are rounded according to JORC Code guidelines.

The depletion of the Mineral Resource for the Nifty operation for the 2015 reporting is based on and accurately reflects information prepared by Mr Sivasamy. Mr Sivasamy is a Member of the AusIMM. Mr Sivasamy has the necessary experience relevant to the style of mineralisation, the type of deposit and the activity undertaken to qualify as a 'Competent Person' under the JORC Code for Reporting of Mineral Resources and Ore Reserves (2012 Edition).Mr Sivasamy has given his consent to the inclusion of the material in the form and context in which it appears. Mr Sivasamy is a full time employee of Aditya Birla Minerals Limited (ABML).