21 May 2015

SYRAH HOLDS INAUGURAL BOARD MEETING IN MOZAMBIQUE AND MEETS WITH GOVERNMENT AND LOCAL COMMUNITY LEADERS Highlights:

Syrah Resources Limited holds inaugural Board Meeting in Mozambique

Positive meetings attended by local management and Directors confirm strong community support for the Balama Project

On-going discussions with the Mozambique government have successfully concluded with agreement over the parameters of the Project


Syrah Resources Limited (the "Company") is pleased to announce that its Board of Directors held its inaugural meeting in Maputo, Mozambique. As part of the Board proceedings directors and management also took the opportunity to meet with of Government officials and potential private sector partners to discuss the Balama Project and its significance for the Mozambican economy.
The Board also visited the Balama Project site to review progress on the Company's development plan. A number of meetings were attended by the directors with provincial government officials, as well as members of the local community. These meetings reaffirmed the significant support for the Project at the local level which provides a strong foundation for establishment of a multi-generational business that will bring both social and economic development to one of the poorest regions in Mozambique.
The Company is also pleased to announce that on-going discussions with the Mozambican Government to confirm the parameters of the Project under Mozambican law were successfully concluded during this visit. That confirmation allows the Company to now proceed to finalisation and release of its feasibility study.
Syrah Managing Director Tolga Kumova commented:

"This visit to Mozambique by Syrah's Board and the significant support demonstrated for the Balama Project by government and local officials provides a tremendous foundation to build the world's largest and lowest cost producer of quality graphite. Discussions with the Government over the operating parameters of the Project have resulted in an excellent outcome that will now allow the Company to finalize the feasibility study and secure finance to commence the development of this world class asset."

Syrah Resources Ltd (ABN 77 125 242 284). Level 9/356 Collins Street
Melbourne 3000 Australia Ph: 03 96707264

Figure 1 - Board of Syrah attending a local community meeting in Balama

Tolga Kumova Managing Director Syrah Resources Ltd

Office contact - +61 3 9670 7264
Mobile contact - +61 421 707 155
Email - t.kumova@syrahresources.com.au

About Syrah Resources

Syrah Resources (ASX code: SYR) is an Australian resource company that is rapidly progressing its flagship Balama Graphite and Vanadium Project in Mozambique to production. The Project currently hosts one of the largest graphite and vanadium resources in the world with an Australasian Joint Ore Reserves Committee (JORC) compliant resource of 1.15 Bt at 10.2% total graphitic carbon (TGC) and

0.23% V2O5. Balama is a 106 km2 granted mining license located within the Cabo Delgado province in the district of Namuno in northern Mozambique. The Project is approximately 260 km by road west of Pemba and is accessible by a sealed, main road, running directly from Pemba Airport. The Port of Nacala is approximately 460 km by road south east of the Project and is the deepest port in Southern Africa.

Syrah Resources Ltd (ABN 77 125 242 284). Level 9/356 Collins Street
Melbourne 3000 Australia Ph: 03 96707264

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