Kagara Limited

Kagara Limited (ASX:KZL) - Following their appointment on 29 April 2012 and the First Meetings of Creditors held on 9 May 2012, Michael Ryan, Mark Englebert, Stefan Dopking and Quentin Olde ("Administrators") as the voluntary administrators of Kagara Limited (Administrators Appointed) and its three wholly-owned subsidiaries* ("the Group"), announce that they have secured initial funding for the administration process.

Kagara Limited (ASX:KZL) continues to review business operations and focus on core producing assets. This includes a restructure of its banking arrangements which have impacted Kagara's short term cash flow.

Casimir Capital, a leading investment bank specializing in natural resources, has announced the 2nd Annual Casimir Capital Global Australian Mining Conference, which will take place on March 26th at the Waldorf Astoria Hotel in New York City.

Further to the announcement on 5 March 2012, Kagara Limited (ASX:KZL) has now completed the sale of its Western Australia nickel assets.

Kagara Limited (ASX:KZL) (PINK:KGRZF) today announced the first stage of a comprehensive restructure of its Board.

In conjunction with the release of its financial results for the six months to 31 December 2011, Kagara Limited (ASX:KZL) today announced a significant restructure of its North Queensland base metal operations and updated production guidance for FY12.

Kagara Limited (ASX:KZL) is pleased to announce that it has reached agreement with Western Areas NL (ASX: WSA - "Western Areas") to sell its nickel assets in Western Australia, including the Lounge Lizard nickel mine, for $68 million in cash. In addition Kagara will receive fair value for high grade ore stockpiles.

Kagara Limited (ASX:KZL) is pleased to announce the appointment of Paul Warme to its Executive Committee as Executive General Manager, Finance.

Kagara Limited (ASX:KZL) is pleased to announce an updated polymetallic resource inventory for the Northern Chillagoe Region, part of its North Queensland base metal operations, following successful drilling programs carried out during 1HFY12.

South Boulder Mines Ltd (ASX:STB) is very pleased to announce the appointment of Mr Flavio Garofalo in the new role of Chief Financial Officer, effective from February 2012.