1 March 2018

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 mid-February 2018. ZIOC's intention was to announce conclusive results of the product test work, currently underway, while providing a comprehensive update to shareholders on the work done to date on various aspects of the Zanaga Iron Ore Project.

Product test work has taken longer than anticipated, as such, the Company will now release a Project Update on the work completed to date in the first half of March. The product test work is expected to be completed during Q2 2018 when a further update to shareholders will be made.

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                          Neil Elliot and Richard Crawley

Adviser and Corporate Broker                         

                                                                                +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.