29 December 2017

ZANAGA PROJECT UPDATE - REVISED TIMING ANNOUNCEMENT

Zanaga Iron Ore Company Limited ("ZIOC" or the "Company") would like to provide an update to shareholders on the timing of the Zanaga Iron Ore Project Update announcement ("Project Update") previously scheduled for announcement by the end of this year.

The Project Update announcement depends on the completion by independent experts of a product test work programme, currently underway, on the beneficiation of the Zanaga Project's upper iron ore layers. Due to an extension of time needed for the completion of these product test results, ZIOC understands that it will be in a position to announce the Project Update by the middle of February 2018.

For further information, please contact:

Zanaga Iron Ore

Corporate Development and                             Andrew Trahar

Investor Relations Manager                             +44 20 7399 1105

Liberum Capital Limited

Nominated Adviser, Financial                          Richard Crawley

Adviser and Corporate Broker                          and Neil Elliot

                                                                                +44 20 3100 2000

About us:

Zanaga Iron Ore Company Limited (AIM ticker: ZIOC) is the owner of 50% less one share in the Zanaga Iron Ore Project based in the Republic of Congo (Congo Brazzaville) through its investment in associate. The Zanaga Iron Ore Project is one of the largest iron ore deposits in Africa and has the potential to become a world-class iron ore producer.