XCEED RESOURCES LTD 
By
29 May 2013
The Directors of Xceed Resources Limited are pleased to advise that the South African Department of Mineral Resources (DMR) has granted a mining right in respect of the Company's 70% held Moabsvelden thermal coal project. The Company will now arrange for the posting of the required environmental bond and the notarial registration of the right in order for the right to become effective.
Commenting on the granting of the mining right, the Company's Managing Director Ian Culbert said: "We are delighted with this development. The granting of the mining right for Moabsvelden is unquestionably a significant milestone for the project and maintains our momentum towards commencing with project construction this year."
Mr Culbert further noted that Xceed's management team have been working closely with Thebe Mining Resources, the proposed co-sponsor of the Moabsvelden project. Thebe's engagement, not only with respect to the DMR, but with all elements of the project, is adding impetus to the project development timetable, which Xceed is pleased to acknowledge.
Significant progress has been made in recent months with the receipt of a credit approved offer of project finance from Standard Bank of South Africa, which together with a proposed equity subscription by Thebe for its direct project interest, accounts for approximately 90% of the expected project construction and commissioning expenses. It is anticipated that a coal supply agreement with Eskom, the State owned power utility, will be finalized shortly and that the remaining development permits will follow in due course.
When developed, Moabsvelden will be one of the largest new mines located in the vital Witbank coal basin and will also be one of the closest mines to Johannesburg, the most important industrial/inland market in South Africa. Entirely open cast, and characterized by a very low stripping ratio, Moabsvelden has a mine life in excess of
14 years.
For further information regarding the Company, please contact the Company on +61 8
9226 0329 or refer to www.xceedresources.com.au
For and on behalf of the Board of
Ian Culbert
Managing Director
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