Joint cautionary announcement

Shareholders of Mvela Resources and Northam (“the Companies”) are advised that the Companies have received approaches from interested parties which may result in an offer or offers to acquire the entire issued share capital of Mvela Resources and Northam.

Shareholders of the Companies are advised that due to Mvela Resources` classification as a “pyramid company” in terms of the Securities Regulation Code on Takeovers and Mergers (“SRP Code”), any offer resulting in a change in control of Mvela Resources requires the offeror(s) to make a comparable offer to shareholders of Northam in accordance with Rule 6.3 of the SRP Code. Any potential transactions arising from such approaches, if successfully concluded, may have a material impact on the price of the Companies’ securities. Shareholders of Mvela Resources and Northam are therefore advised to exercise caution when dealing in the Companies` securities until a further announcement is made.

12 September 2008

Sponsor to Mvela Resources
J.P. Morgan Equities

Sponsor to Northam
Barnard Jacobs Mellet Corporate Finance (Pty) Limited