Asa Resource Group plc
("Asa Resource", "the Group" or "the Company")

Legal update - Zindico Consortium ("Zindico")

Asa Resource provides the following update on the claim made by Zindico in January this year against Freda Rebecca Gold Mine (FRGM), in which the Group holds an 85% interest.

The Group announced in its last quarterly update on 19 May 2017 that the Zindico applicants had failed to present their Heads of Argument within the prescribed time set by Zimbabwean law. This meant Zindico was barred from being heard by the courts in Zimbabwe and could no longer file an answering affidavit in their claim against FRGM.

Asa Resource now confirms that the claim initiated by Zindico has been served on the Company.

As the Company has previously announced, the Company's board considers these claims to be without either foundation or merit and is instructing its legal team in Zimbabwe to file the requisite paperwork with the court in Zimbabwe.

The mining operations at FRGM are continuing as normal. The Group will make a further announcement as appropriate.

Contact

For more information https://asaresourcegroup.com/ or contact us below.

Asa Resource Group plc

One Fleet Place, London EC4M 7WS

Ian B Dearing, Executive Director, Group General Counsel and Company Secretary

Niall Henry, non-executive Director (Investor Relations)

communications@asaresourcegroup.com

Nominated Adviser and Broker

SP Angel Corporate Finance LLP

Prince Frederick House, 35-39 Maddox Street, London W1S 2PP

John Mackay, Jeff Keating, Caroline Rowe

Tel: +44 (0) 20 3470 0470