Kenmare Resources plc - Debt Update

Kenmare Resources plc ("Kenmare" or "the Company")

1 March, 2013

Debt Update

Further to a trading update dated 30 January 2013, in which it was noted that Kenmare had concluded an agreement with its lending banks providing the flexibility to raise additional debt, Kenmare and Absa Bank Limited have entered into an agreement establishing a corporate facility of US$40 million for the Company.  Absa Bank Limited, a member of Barclays plc, is an existing lender to the Kenmare Group.  As at 31 December, 2012, Kenmare Group bank debt amounted to US$324.4 million, comprising US$106.9 million senior debt forecast to be paid by 1 August 2018 and US$217.5 million subordinated debt, of which US$96.5 million deferred subordinated debt is now forecast to be paid by 1 August 2014 and the balance of US$121.0 million is forecast to be paid by 1 August 2019, in accordance with arrangements under the applicable finance agreements.

Kenmare's 2012 Preliminary Results are scheduled to be announced on 12 March, 2013.

For further information, please contact:

Kenmare Resources plc.
Michael Carvill, Managing Director       
Tel: [phone]
Mob: + 353 87 674 0110

Tony McCluskey, Financial Director
Tel: [phone]       
Mob: + 353 87 674 0346

Virginia Skroski, Investor Relations Manager       
Tel: [phone]       
Mob: + 353 87 739 1103       

Murray Consultants       
Joe Heron
Tel: [phone]
Mob: [phone]

Tavistock Communications
Jos Simson / Mike Bartlett
Tel: [phone]
Mob: [phone]

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Source: Kenmare Resources via Thomson Reuters ONE

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