Manas Resources : December 2016 Quarterly Cashflow Report

Appendix 5B

Rule 5.5

Mining exploration entity and oil and gas exploration entity quarterly report Name of entity

MANAS RESOURCES LIMITED

ABN Quarter ended ("current quarter")

23 128 042 606 31 December 2016

Consolidated statement of cash flows Currentquarter $A'000

1. Cash flows from operating activities

2. Receipts from customers

3. Payments for

   Year to date (12 months) $A'000

   - -

4. exploration & evaluation

   (135) (820)

5. development - -

6. production - -

7. staff costs (440) (1,246)

8. administration and corporate costs (282) (555)

9. Dividends received (see note 3) - -

10. Interest received - 2

11. Interest and other costs of finance paid - -

12. Income taxes paid - -

13. Research and development refunds - -

14. Other (provide details if material) - -

    1.9 Net cash from / (used in) operating

    activities (857) (2,619)

15. Cash flows from investing activities

16. Payments to acquire:

17. property, plant and equipment - -

18. tenements (see item 10) - -

19. investments - -

    Consolidated statement of cash flows Currentquarter $A'000 Year to date (12 months) $A'000

20. other non-current assets - -

21. Proceeds from the disposal of:

22. property, plant and equipment - -

23. tenements (see item 10) - -

24. investments* 7,097 7,097

25. other non-current assets 8 29

26. Cash flows from loans to other entities - -

27. Dividends received (see note 3) - -

28. Option payment to acquire project

29. Cash assets of subsidiaries exiting Manas Group

    -

    (27)

    (270)

    (27)

    2.7 Net cash from / (used in) investing activities 7,0786,829

    * Proceeds does not include a 2nd tranche (USD4.9m) payable around April 2017.

30. Cash flows from financing activities

31. Proceeds from issues of shares

    - 2,829

32. Proceeds from issue of convertible notes - -

33. Proceeds from exercise of share options - -

34. Transaction costs related to issues of shares, convertible notes or options

    - (139)

35. Proceeds from borrowings - 108

36. Repayment of borrowings - (108)

37. Transaction costs related to loans and - - borrowings

38. Dividends paid - -

39. Other (provide details if material) - -

    3.10 Net cash from / (used in) financing activities -2,690 Consolidated statement of cash flows Currentquarter $A'000
40. Net increase / (decrease) in cash and cash equivalents for the period Year to date (12 months) $A'000

41. Cash and cash equivalents at beginning of period

42. Net cash from / (used in) operating activities (item 1.9 above)

43. Net cash from / (used in) investing activities (item 2.6 above)

44. Net cash from / (used in) financing activities (item 3.10 above)

45. Effect of movement in exchange rates on cash held

    4.6 Cash and cash equivalents at end of

    918 231

    (857) (2,619)

    7,078 6,829

    - 2,690

    17 25

    period 7,156 7,156

46. Reconciliation of cash and cash equivalents

    at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts

    Current quarter $A'000 Previous quarter $A'000

47. Bank balances 1,977 918

48. Call deposits 5,179 -

49. Bank overdrafts - -

50. Other (provide details) - -

    5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above)

    7,156 918

51. Payments to directors of the entity and their associates Currentquarter $A'000

52. Aggregate amount of payments to these parties included in 33

    item 1.2

53. Aggregate amount of cash flow from loans to these parties - included in item 2.3

54. Include below any explanation necessary to understand the transactions included in items 6.1 and 6.2

    Directors fees.

55. Payments to related entities of the entity and their associates

56. Aggregate amount of payments to these parties included in item 1.2

57. Aggregate amount of cash flow from loans to these parties included in item 2.3

    Current quarter $A'000

    -

    -

58. Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2

    NA.

59. Financing facilities available

    Add notes as necessary for an understanding of the position

    Total facility amount at quarter end $A'000 Amount drawn at quarter end $A'000

60. Loan facilities - -

61. Credit standby arrangements - -

62. Other (please specify) - -

63. Include below a description of each facility above, including the lender, interest rate and whether it is secured or unsecured. If any additional facilities have been entered into or are proposed to be entered into after quarter end, include details of those facilities as well.

    NA

64. Estimated cash outflows for next quarter $A'000

65. Exploration and evaluation -

66. Development -

67. Production -

68. Staff costs 300

69. Administration and corporate costs 350

70. Due diligence work 500

9.7 Total estimated cash outflows 1,150*

* - Estimated cash outflows for next quarter exclude acquisition payments that may be payable in relation to the Victoria gold project in Tanzania.

1. Interests in mining

   tenements and petroleum tenements lapsed, relinquished or reduced

   10.	Changes in tenements	Tenement reference and location	Nature of interest	Interest at	Interest at end of
   (items 2.1(b) and 2.2(b) above)	beginning of quarter	quarter

   Tolubay AR 2533 (Au-171-02)

   Isfairamsai AP 235 Shambesai Mining Permit 3164 AE

   Tashbulak 4188 AP Savoyardy (Exploration) 3719 AR (Au-87-04)

   [Kyrgyz Republic]

   Mineral permits

   held by the

   Company's former subsidiaries in Kyrgyz Republic

   }

   }

   }100% -

   }

   }

   }

2. Interests in mining

tenements and petroleum tenements acquired or increased

N/A

Compliance statement

1. This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.

2. This statement gives a true and fair view of the matters disclosed.

Sign here: Date: 27 January 2017

Print name: Mark Calderwood

Director

Notes

1. The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.

2. If this quarterly report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.

3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.