Bushveld Iron Ore Project Competent Person’s Report – April 2013

Bushveld Minerals Limited UNAUDITED INTERIM FINANCIAL STATEMENTS For the period ended 31 August 2012.Condensed Consolidated Income Statement for the period ended 31 August 2012 | Condensed Consolidated Statement of Comprehensive Income | Condensed Consolidated Statement of Financial Position

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Registered Office | Oak House, Hirzel Street, St Peter Port, Guernsey, GY1 3RH

Principal Operating Address | 2nd Floor, Building 3 Illovo Edge Office Park 5 Harries Road, Illovo Johannesburg, 2116, South Africa

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Bushveld Iron Ore Project Competent Person’s Report – April 2013

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