MKU

TORONTO, Jan. 17, 2012 /CNW/ - Mukuba Resources Limited reports that its board of directors has accepted the resignation of Mukuba's CEO and President, Trevor Richardson. Mr. Richardson has stepped down as CEO, President and Director of Mukuba to pursue other career opportunities, effective immediately. A search committee has been formed by the Board and will immediately undertake the process of selecting a new CEO. Mr. Richardson will assist in ensuring a smooth transition. Kelly Ehler has been appointed interim CEO and President of the company. Mr. Ehler was CFO of Mukuba from March 2008 to November 2011 and has extensive knowledge and understanding of the business and assets of the company. Mr. Ehler has worked in various capacities with a number of other public and private companies in the mining, technology, manufacturing and real estate development industries. Mr. John Hawkrigg, Chairman of Mukuba said "We thank Trevor for his work and wish him the very best in his future endeavours. I am excited that Kelly Ehler has agreed to accept the position of interim CEO and President as he brings tremendous experience and leadership abilities to the role and has a detailed understanding of the strengths of the company and the opportunities that are available." About the Company Mukuba is a Canadian mining company focused on the exploration and development of certain African base metal assets alone and through a joint venture partner. These assets include a 100% interest in the Northcore Project, which is licensed for both copper and cobalt and encompasses approximately 2,274 square km of geologically prospective ground in the Central African Copperbelt region of Zambia. Mukuba is also a party to a joint venture with Benzu Resources Limited to explore and develop a copper and base metals project in the Democratic Republic of the Congo. In addition, Mukuba holds an exclusive option to purchase an 85% interest in the Nyimba Project, a pollymetallic exploration project, located near the town of Nyimba, approximately 300 km east of Lusaka, Zambia. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-looking Information Securities regulators encourage companies to disclose forward-looking information to help investors understand a company's future prospects. This press release contains statements about our future business and planned activities, including its search for, and transition with, a new president and chief executive officer. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements usually include words such as may, intend, plan, expect, anticipate, believe or other similar words. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this press release. You should not place undue reliance on forward-looking statements. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations. Mukuba Resources Limited CONTACT: Kelly Ehler, interim President and Chief Executive OfficerTel: +1 (416) 368 4013; Fax: 416 603 9200;Email: info@mukubaresources.com

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