African Aura Mining Inc. - TSX Venture Exchange conditional approval of
placing

/NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, JAPAN OR AUSTRALIA/

TSX-V: AUR

AIM: AAAM

TORONTO, April 22 /CNW/ - African Aura Mining Inc. ("African Aura" or the "Company") the TSX-V (AUR) and AIM (AAAM) listed exploration and development company focusing on iron ore and gold in sub-Saharan Africa, is pleased to announce that, further to the Company's news release dated April 21, 2010, the Company has received TSX Venture Exchange conditional approval for and closed its private placement of 17,398,770 common shares in the capital of the Company at 65 pence per share (c. C$1.01), to raise aggregate gross proceeds of approximately (pnds stlg)11.3 million (c. C$17.5 million).

In consideration for its services as agent in connection with the private placement, the Company has agreed to pay Evolution Securities Limited a cash commission equal to 5% of the gross proceeds of the private placement (excluding subscribers on the Chairman's List).

Certain of the shares issued in the private placement, including those placed to insiders of the Company, are subject to a hold period and may not be traded in Canada until August 23, 2010, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange.

Restricted Jurisdiction

The new Common Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and, may not be offered, sold or delivered, directly or indirectly, in the United States or to or for the account or benefit of any U.S. person unless the securities are registered under the Securities Act or an exemption from the registration requirements of the Securities Act is available.

About African Aura Mining Inc.

African Aura is an established exploration and development company listed on the TSX-V (AUR) and London's AIM (AAAM). The Company operates two divisions, namely iron ore and gold:

    
    -   The iron ore division includes its 38.5% interest in the Putu iron
        ore project in Liberia (1.08 billion tonnes of iron ore at 37.6%
        total iron, from drilling on less than 25% of the Putu ridge) in
        Liberia which is moving through pre-feasibility managed by its joint
        venture partner Severstal Resources (the mining division of Moscow
        listed OAO Severstal). The division also includes a 100% interest in
        the Nkout iron ore project and surrounding iron targets in Cameroon.
    -   The gold division includes the multi million ounce potential New
        Liberty greenstone gold deposit, which is being advanced through a
        bankable feasibility study and the proximal Weaju, Gondoja and Silver
        Hills projects, all in western Liberia.
    -   In addition, the Company has a 31.8% interest in AIM listed diamond
        producer Stellar Diamonds Plc (AIM: STEL, www.stellar-diamonds.com).
    

The Company has a highly motivated and experienced team with a track record of discovering mines and taking projects through development and into production. As a pioneer, African Aura has attracted some excellent strategic partners and shareholders always with the objective of preserving or enhancing shareholder value. For further information on the Company you are invited to visit its website at www.african-aura.com, or SEDAR's website at www.sedar.com, or contact one of the following:

NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS ANNOUNCEMENT.

Qualified Person

African Aura's Qualified Person responsible for preparing this release is Dr Tom Elder, who holds a BSc and Doctorate in Geology from the University of Durham in the UK, is a Fellow and former Member of Council of the Institution of Mining and Metallurgy, and a Fellow of the Geological Society.

The iron mineral resource estimate included in this news release was previously disclosed in the technical report entitled "Mineral Resource Estimate for the Putu Iron Ore Project" dated August 2009 (the "Putu Technical Report") prepared by Howard Baker of SRK Consulting (UK) Ltd who is a "Qualified Person" as such term is defined in NI 43-101. The Putu Technical Report was filed on the company's SEDAR profile on August 10, 2009 and is available at www.sedar.com.

The gold mineral resource estimate included in this news release was previously disclosed in the technical report entitled "Form 43-101F Technical Report on the New Liberty Gold Project, Liberia" dated October 24, 2006 (the "New Liberty Technical Report") prepared by Dexter Ferreira and Pierre Fourie of Lower Quartile Solutions (Pty) Ltd who are each a "Qualified Person" as such term is defined in NI 43-101. The New Liberty Technical Report was filed on the Company SEDAR profile on January 31, 2007 and is available at www.sedar.com.

Forward-looking Statements

This announcement includes certain forward-looking statements. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding the future plans and objectives of African Aura, are forward-looking statements that involve various known and unknown risks and uncertainties as well as other factors. Such forward-looking statements are subject to a number of risks and uncertainties that may cause actual results or events to differ materially from current expectations, including delays in obtaining or failure to obtain required regulatory approvals. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Any forward-looking statements speak only as of the date hereof and, except as may be required by applicable law, African Aura disclaims any obligation to update or modify such forward-looking statements, either as a result of new information, future events or for any other reason.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained herein, unless stated otherwise, is made as of the date of this announcement being 22 April 2010 and the Company makes no responsibility to update them or to revise them to reflect new events or circumstances, except as required by law.

Additional information about the risks and uncertainties of the Company's business is provided in its disclosure materials, including its Annual Information Form and the MD&A for the twelve months ended 31 December 2009, available under the Company's profile on SEDAR at www.sedar.com.

The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions.

Evolution Securities Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting as proposed placing agent to the Company and is acting for no-one else in connection with the Placing and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Evolution Securities Limited nor for providing advice in connection with the Placing or any other matter referred to herein. Evolution Securities Limited has not authorised the contents of, or any part of, this announcement and no liability whatsoever is accepted by Evolution Securities Limited for the accuracy of any information or opinions contained in this announcement or for the omission of any information.

Apart from the responsibilities and liabilities, if any, which may be imposed on Evolution Securities Limited by the Financial Services and Markets Act 2000, Evolution Securities Limited accept no responsibility whatsoever for the contents of this announcement, including its accuracy, completeness or verification or for any other statement made or purported to be made by it, or on its behalf, in connection with the Company, the Common Shares or the Placing. Evolution Securities Limited accordingly disclaim all and any liability (whether arising in tort, delict, under contract or otherwise) (save as referred to above), which they might otherwise have in respect of this announcement or such statement.

This announcement does not constitute, or form part of, an offer to sell, or the solicitation of an offer to subscribe for or buy any of the new Common Shares to be issued in connection with the Placing. No public offering of securities of the Company will be made in connection with the Placing in the United Kingdom, the United States, Canada or elsewhere. The securities discussed herein have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act") and may not be offered or sold in the United States absent registration or an exemption from registration under the US Securities Act.

The Directors of the Company have taken all reasonable care to ensure that the information contained in this announcement is, to the best of their knowledge, in accordance with the facts and contains no omission likely to affect the import of such information.

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: For further information: African Aura Mining Inc., Luis da Silva, President & CEO, Tel: +44 (0) 20 7257 2930; Evolution Securities Limited, Simon Edwards, Tim Redfern, Neil Elliot, Tel: +44 (0) 20 7071 4300; Pelham Bell Pottinger, Charles Vivian, James MacFarlane, Tel: +44 (0) 20 7337 1500

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Afferro Mining Inc.

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