Investment of Geologic Resource Partners LLC in Africo Resources Ltd.



    TORONTO, Jan. 13 /CNW/ - Geologic Resource Partners LLC ("Geologic")
announced today that in connection with purchases made during the month of
November 2008, it purchased, for its own account and on behalf of client
accounts over which it has discretionary trading authority, 2,330,500 common
shares of Africo Resources Ltd. ("Africo"). Prior to these purchases, Geologic
held, for its own account and on behalf of client accounts over which it has
discretionary trading authority, 6,598,400 common shares in the capital of
Africo. In addition, during the month of December 2008, Geologic purchased,
for its own account and on behalf of client accounts over which it has
discretionary trading authority, 149,000 common shares in the capital of
Africo. Geologic's total holdings in Africo as of December 31, 2008 were
9,077,900 common shares representing approximately 12.5% of the issued and
outstanding shares of Africo.
    Geologic has exclusive control over all of the securities but does not
have ownership.
    Geologic has purchased these securities for investment purposes, and may
increase or decrease its investment in the securities of Africo depending upon
future market conditions.

    Geologic is an investment advisory firm specializing in precious metals,
industrial metals, and energy minerals equities





For further information:

For further information: or to obtain a copy of the report contact: John
Kanellitsas, Chief Operating Officer, at (617) 424-9900

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GEOLOGIC RESOURCE PARTNERS LLC

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