/NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US
NEWS WIRE SERVICES./
LONDON, July 11, 2012 /CNW/ - Afferro Mining Inc. ("Afferro" or the
"Company"), the exploration and development company focused on iron ore
in Cameroon, notes the announcement released by International Mining
and Infrastructure Corporation plc. ("IMIC") this morning regarding
IMIC's acquisition of 4,132,231 ordinary shares of nil par value
representing 3.9% of the Company's issued share capital.
Afferro is aware of IMIC's recent activities in Guinea regarding the
Simandou South Project and the Simandou South Infrastructure Company in
conjunction with its partner African Iron Ore Group Limited ("AIOG").
Afferro notes that IMIC and its sister company may put forward to
Afferro plans for a comprehensive infrastructure package for Nkout in
Cameroon and Afferro will review these proposals together with other
alternatives that the Company is considering.
About Afferro Mining Inc.
Afferro is an established exploration and development company listed on
the TSX-V (AFF) and AIM (AFF). Afferro's portfolio includes the 100%
owned Nkout, Ntem and Akonolinga iron ore projects. It also holds a 70%
interest in the Ngoa project, an exploration target bordering Nkout.
Nkout comprises an NI 43-101 compliant Indicated Mineral Resource
Estimate of 1.18Bt at 32.7% Fe and an Inferred mineral resource
estimate of 1.34Bt at 30.4% Fe. Afferro currently has a cash position
of $51m, leaving it well placed for medium-term funding of all its
Howard Baker (MAusIMM(CP)) has 18 years' experience in the mining
industry and 10 years' experience in the exploration, definition and
mining of iron ore mineral resources. Mr Baker is a full-time employee
of SRK Consulting (UK) Ltd., an independent consultancy, and has
sufficient experience which is relevant to the style of mineralisation
and type of deposit under consideration, and to the type of activity
which he is undertaking to qualify as a Qualified Person in accordance
with NI 43-101 and a Competent Person as defined in the June 2009
Edition of the AIM Note for Mining and Oil & Gas Companies. Howard
Baker consents to the inclusion in the announcement of the matters
based on their information in the form and context in which it appears
and confirms that this information is accurate and not false or
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accept responsibility for the adequacy or accuracy of this release.
SOURCE Afferro Mining Inc.
For further information:
Afferro Mining Inc.
Luis da Silva / Jeremy Cave
Tel: +44 (0) 20 7257 2930
Nominated Adviser: Neil Elliot
Corporate Broker: Chris Sim
Tel: +44 (0) 207 597 5970
RBC Capital Markets
Joint Broker: Martin Eales / Richard Hughes / Jonny Hardy
Tel: +44 (0) 20 7653 4000
Pelham Bell Pottinger
Daniel Thöle / James MacFarlane
Tel: +44 (0) 20 7861 3232