Simba Gold Corp. (TSX VENTURE:SGD)(FRANKFURT:S7G) has increased its ownership of
Rogi Mining Limited from 12% to 26% after making the second installment under an
agreement granting Simba the right to purchase all of the common shares of Rogi
Mining. The second installment payment comprised US$312,500 in cash and 950,100
common shares of Simba.


Simba has the right to purchase up to 100% of the outstanding shares of Rogi
Mining by making payments of shares and cash in five installments, of which the
first two installment payments have now been made. Simba may acquire up to 100%
of Rogi Mining by making three further installment payments as follows:




----------------------------------------------------------------------------
Payment Date                  Cash            Number of         Interest    
                               US$             Shares           Acquired    
----------------------  ----------------------------------  ----------------
                                                                            
March 10, 2013                   312,500           950,000         14%      
March 10, 2014                   343,750           950,000         15%      
March 10, 2015                 1,625,000         1,900,000         45%      
                        ----------------------------------                  
                                                                            
Total                          2,281,250         3,800,000                  
----------------------------------------------------------------------------



About the Miyove Gold Project

The Miyove gold project comprises 2,937 hectares and is located in the northern
portion of Rwanda, approximately 65 kilometres from the capital city of Kigali.
Infrastructure at the property includes excellent road access, water and
commercial power access. The project consists of an exploration licenses issued
by the MINITERE, MINIRENA and MINIFOM, in the Republic of Rwanda.


The Miyove gold project comprises three mineralized zones referred to as
Karenda, Baradega and Masogwe, all of which lie along a northwest-southeast
mineralized trend which extends for six kilometers. Three types of structurally
controlled gold mineralization has been identified and includes stringer-vein
zones, silicified (quartz) and ferruginous shales, and less frequently, quartz
veins with varying amounts of iron oxides and hydroxides (in the weathering
crust). The host rocks are commonly shale, and to a lesser extent, sandstones. A
fourth type of gold mineralization has been identified on the property and
includes alluvial and deluvial places.


The Company, with Rogi Mining, has commenced a comprehensive surface exploration
program at the Miyove Gold project. The surface exploration program commenced in
October 2011 and continued until early December 2011. The program, consisting of
a ground magnetic survey, soil sampling and detailed geological mapping, will
provide detailed information on property scale structures which, based on
historic information, are known to host gold mineralization. The current program
will provide sufficient information for designing a drill program, to commence
in the spring of 2012, which will assess the structural continuity of the
various known gold zones identified on the property.


The Miyove Gold project is being managed by A. Armitage, Ph.D., P.Geol. Dr.
Armitage is a Director and the Senior Technical Advisor of Simba Gold, and is
the Qualified Person, as defined by NI 43-101, for the Miyove Gold project. Dr.
Armitage has reviewed and approved the technical content if this news release.


About Simba Gold Corp.

Simba Gold Corp. is an exploration company focused on the development of quality
gold assets in Rwanda. Simba owns 26% of Rogi Mining Limited ("Rogi") and has an
option to purchase up to 100% in stages through to March 2015. Rogi owns three
properties in Rwanda, with the principal asset being the Miyove Gold Project
which comprises 2,937 hectares over the largest historic gold-producing area in
the country.


On behalf of the board of directors

Werner J. Ullmann, President and CEO

Simba Gold Corp.

Cautionary Statement Regarding Forward-Looking Information

Some of the statements contained in this press release are forward-looking
statements and information within the meaning of applicable securities laws.
Forward-looking statements and information can be identified by the use of words
such as "expects", "intends", "is expected", "potential", "suggests" or
variations of such words or phrases, or statements that certain actions, events
or results "may", "could", "should", "would", "might" or "will" be taken, occur
or be achieved. Forward-looking statements and information are not historical
facts and are subject to a number of risks and uncertainties beyond Simba's
control. Actual results and developments are likely to differ, and may differ
materially, from those expressed or implied by the forward-looking statements
contained in this news release. Accordingly, readers should not place undue
reliance on forward-looking statements. The Company undertakes no obligation to
update publicly or otherwise revise any forward-looking statements, except as
may be required by law.
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