LIMITED MINING KATANGA INFORMATION FORM ANNUAL FOR ENDED THE YEAR 31, DECEMBER 2008 29, March 2009 CONTENTS TABLE OF REGARDING CAUTIONARY FORWARD-LOOKING STATEMENTS NOTE 2 STRUCTURE CORPORATE OF KATANGA MINING LIMITED 3 DEVELOPMENT GENERAL BUSINESS KATANGA OF THE OF 4 FACTORS RISK 15 PROJECTS MINERAL 23 DIVIDENDS 30 DESCRIPTION CAPITAL SHARE OF 30 SECURITIES FOR MARKET OF KATANGA 31 OFFICERS DIRECTORS AND 31 PROCEEDINGS LEGAL •GULATORY AND PROCEEDINGS 36 INTEREST MANAGEMENT OF INSIDERS MATERIAL AND TRANSACTIONS IN 36 AUDITORS, REGISTRAR AGENT TRANSFER AND 37 CONTRACTS MATERIAL 37 INTERESTS OF EXPERTS 39 ADDITIONAL INFORMATION 41 GLOSSARY OF TERMS 42 SCHEDULE "A". A1 SCHEDULE "B". B 1 (the "Corporation" "AIF") Katanga "Katanga" Mining annual information form the in refers Reference this to to or subsidiaries, expressly requires. the Except Limited and unless otherwise stated otherwise its context or as prepared indicated, all data contained have otherwise financial been and financial in this in AIF statements Canadian All this United dollars unless in accordance with GAAP. in AIF stated States amounts currency are mining preparation have used this otherwise indicated. Certain and been the in AIF. metric of terms measurements Geological/Exploration "Glossary description for these and Please the of Terms Terms" of terms see a measurements. •GARDING CAUTIONARY NOTE FORWARD-LOOKING STATEMENTS "forward-looking meaning within the contains United Securities' This A1F statements" the of States Private legislation, concerning Litigation Rg/brm business, operations 1995 similar Canadian financial of and the Act and Forward-looking performance Katanga. include, and but condition limited with of to, statements statements not are developments operations planned anticipated periods; exploration Katanga's activities; future in the in respect to adequacy future; conditions Katanga's estimated financial and other that of in the events may resources or occur production ability significant Katanga copper/cobalt ability synergies; the of become low and the to cost company; a ability shareholders; financing Katanga Katanga expected value for its the of of continue to create to meet to price requirements; cobalt; realization future of and the estinaation of mineral the the and copper resources; reserves capital production; timing production; of mineral the estimates; estimated future and of of amount costs reserve permitting permitting, processing exchange mining expenditures; issues; lines and fluctuations; time rate currency or regulation mining operations; interpretation concerning results; information the drill of of of government success unanticipated exploration activities; risks; disputes reclamation claims; and title environmental expenses; or forward-looking by Generally, these limitations identified be insurance the of statements coverage. on can use forward-looking terminology "plans", "expects" expect", "budget", "does such expected", "scheduled", "is not as or "intends", "estimates", "forecasts", "anticipates" anticipate", "believes", "does variations of such words not or or or phrases "could", "would", actions, that certain "may", "might", and results "will "will" be state events or or or Forward-looking taken", achieved". opinions '•occur" "be based the and of estimates statements or are on they subject made, the date of such and risks, unknown known and management statements to are as are results, activity, and performance uncertainties other factors that the actual level of achievements of may cause or Katanga materially expressed implied by forward-looking be different those including from such to statements, or during limited unexpected construction, risks related expansion but and variations in to to: start-up; not events ore grade, delay mined; approvals; availability board timing failure and receive of external government to tonnes or or financing acceptable operations; risks related international evaluations; economic conclusions of terms; to on changes project plans prices cobalt; in refined; possible continue future of be and parameters variations to copper as grade plant, anticipated; failure equipment in political of rates; operate to reserves, recovery or processes ore or as accidents, insurrection; disputes and mining industry; delays terrorism; labour and of other risks of the in acts unrest completion development the activities, of well those construction herein factors referred discussed in to or as as or Analysis Management's the annual Katanga and regulatory of filed Discussion certain the with securities of current Although authorities Canada and available in attempted identify www.sedar.com. Katanga of has management at to important materially resuks factors that could forward-looking differ actual those from contained in to cause factors anticipated, there that be be other results estimated intended. statements, There be to not may cause as or can that be such will results and actual differ materially future could statements accurate, to events prove no assurance as anticipated place Accordingly, from those such forward-looking should in undue readers reliance statements. not on update Katanga forward-looking incorporated undertake does herein, that statements. not to statements any are applicable accordance with in securities laws. except -3- CORPORATE STRUCTURE KATANGA OF MINING LIMITED Name, Incorporation Address and incorporated July 8, Gold Corporation the October The Ltd. 7, laws Bermuda under of 1996 New On Inca was on as Corporation changed the consolidated shares for basis and 2004 from New its its Inca ten common one name on a changed Katanga Mining Ltd. Balloch Corporation 30, November its Gold Ltd. On the Resources 2005 to to name capital Corporation 2, 2007, 1,000 Limited. of the authorized share the increased On November of consist to was $0.10 300,000,000 shares shares each $12.00 each and with value of with value of par par common common a a (collectively Shares"). Corporation bye-laws 2008, 11, amended January On the of the in the "Cornmon were Merger (as defined) things, the hereinafter increase the number of ;vith other connection maximum to, among Corporation permit relating directors Corporation the into shareholders and the with of 10 agreements to to enter to appointment give directors Management the those Insiders of and of and effect See "Interest in to agreements. to to capital Corporation 12, 2009, Transactions". January Material authorized the On the share of increased to was 1,000 $12.00 5,000,000,000 of Cormnon Shares with value and Shares with consist of each Common par par a a US$0.10 each. value of Katanga's registered Street, Hamilton, EX, located and head office Court, is Canon's Victoria Bermuda. HM 22 at Relationships Inter-corporate following diagram inter-corporate relationships The describes Katanga Katanga's and material the among (with jurisdiction parentheses): subsidiaries incorporation of the in Katanga Mining Limited (Bermuda) OO% 100% 100% 100% Mining (UK) Mining Katanga Limited. Katanga KFL Mining Katanga (British Virgin Limited Finance Limited Holdings imited (United Kingdom) Islands) (Guernsey) (Isle Man) of • 00% 100% 100% Enterprises Global Nikanor Mining Katanga Services 75%i I/ (UK) Services Corporate Limited. Limited. (PTY) (South Africa) (British Virgin (United Kingdom) Islands) Limited m 75% Copper Kamoto Copper DRC and Cobalt Company Project SARL SARL (Democratic Republic of Republic (Democratic Congo) Congo) of • 25°/° G6n6rale des des Mines La Can'ibres et ("Gdcamines") capital by (1) of share Note: 05% capital by is held GEC the of DCP 0.05% of the share of KCC held nominees nominees of and is of KFL. -4- THE BUSINESS OF OF F•TANGA DEVELOPMENT GENERAL Kamoto Joint Venture Kamoto Joint Venture hold, redevelop, rehabilitate and Joint formed order the Kamoto Joint The in Kamoto Venture operate to was (the Assets"). through (as defined Venture, The Joint KCC "Kamoto Joint Venture Kamoto Venture assets exploit, herein), permits otherwise and leases Gdcamines Joint the KCC mine and from Kamoto Venture Assets to operations. utilize for the Kamoto Joint Venture Assets its provides expertise Agreement contribute technical The Joint that the and Kamoto Venture KFL must necessary capital expansion Kamoto the of the Joint Venture for Assets. Republic incorporated organized Congo ("DRC"), the and KFL and Gdcamines Democratic the in of company a ("KCC"), hold Copper Company KCC owned the Kamoto Joint Kamoto SARL Assets. is known Venture to as by board, by and members which four of 25% G6camines. 75% KFL KCC has nominees of six KFL. person a are provide funding operations. Under all Agreement, the Kamoto Joint Venture KFL conduct must to Operating Agreement Operating Limited Kamoto incorporated Operating ("KOL"), DRC, the has SPRL laws the been Kamoto Limited of pursuant to company a appointed Joint Joint the the Agreement of Kamoto Venture Venture and Kamoto operator pursuant to to act an as by Operating Operating operating (the Agreement") which executed "Kamoto Limited has been KOL agreement Corporation Katanga, 2, KCC November The understands that shareholder and and 2005. director of of current as a namely, George Chairman, President, and Forrest, shareholder Chief Executive Officer and and former Mr. current a director, o•vnership Corporation namely, Ditto, currently have substantial The Arthur KOL. interests is Mr. in negotiating acquire the shareholders KOL See Officers Conflicts of with of KOL. also "Directors and Interest". to Operating Operating Agreement