/NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US
NEWS WIRE SERVICES./
LONDON, UK, May 23, 2013 /CNW/ - The Board of Afferro Mining Inc.
announces the release of its unaudited Financial Statements for the
quarter ended March 31, 2013. The Financial Statements should be read
in conjunction with the accompanying Management Discussion and
Analysis. These documents have been filed on Sedar and are available on
the Company's website www.afferro-mining.com or at www.sedar.com.
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.
All projects are subject to government rights. Nkout has a National
Instrument 43-101 ("NI 43-101") compliant Indicated Mineral Resource
Estimate of 1.19Bt at 32.9% Fe and an Inferred Mineral Resource
Estimate of 1.33Bt at 30.3% Fe. In addition Nkout has a NI 43-101
compliant Preliminary Economic Assessment ("PEA") which indicates that
the project is economically viable. Ntem comprises a NI 43-101
compliant Indicated Mineral Resource Estimate of 39.1Mt at 34.0% Fe and
an Inferred Mineral Resource Estimate of 76.4Mt at 34.2% Fe. The
Company had cash, cash equivalents and short-term deposits totaling
$89m on the 31 December 2012 and is fully funded for at least the next
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)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Afferro Mining Inc.
For further information:
please contact one of the following:
Afferro Mining Inc.
Luis da Silva / Jeremy Cave
Tel: +44 (0) 20 7010 7680
Nominated Adviser: Neil Elliot
Corporate Broker: Chris Sim
Tel: +44 (0) 20 7597 5970
RBC Capital Markets
Joint Broker: Martin Eales / Richard Hughes
Tel: +44 (0) 20 7653 4000
Pelham Bell Pottinger
Daniel Thöle / James MacFarlane
Tel: +44 (0) 20 7861 3232