Sovereign Mines of Africa : £625,000 Subscription

Sovereign Mines of Africa PLC
("SMA" or "the Company")

£625,000 Subscription

 Sovereign Mines of Africa PLC, the gold mining exploration company with gold exploration properties in the Republic of Guinea, West Africa, is pleased to announce that the Company has raised £625,000 through a subscription of 62,500,000 new ordinary shares of 1 pence in the Company (the "Subscription Shares") at a price of 1.0p each (the "Subscription").

The Company recently announced a maiden resource with, in the Board's view, excellent grades and deep oxides at the Mandiana-Magana property, as well as the subsequent acquisition of an adjoining highly prospective concession. The proceeds from the fund raising will be used to seek out complementary and potentially transformational acquisitions as well as strategic partners for the Mandiana-Magana property, and provides working capital for the Company for at least the next twelve months.

The Subscription Shares will rank pari passu in all respects with the Company's existing ordinary shares and will represent 20.1% of the Company's enlarged issued share capital. Application will be made for the Subscription Shares to be admitted to trading on AIM ("Admission") and Admission is expected to occur, and dealings are expected to commence at 8.00 am on 8 April 2014.

Following Admission, the Company's issued share capital will consist of 310,858,850 ordinary shares, with each ordinary share carrying the right to one vote.  The Company does not hold any ordinary shares in treasury.  This figure of 310,858,850 may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

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Enquiries:

SOVEREIGN MINES OF AFRICA PLC
David Pearl, F.C.A. - Chairman                                         [phone]
John Barry - Exploration Director                                      [phone]
Nathan Steinberg - Finance Director                                 [phone]
[e-mail]

SHORE CAPITAL - NOMINATED ADVISER & BROKER
Toby Gibbs/Bidhi Bhoma - Corporate Finance
Jerry Keen - Corporate Broking                                         [phone]