Afferro Mining Inc. - Exercise of Share Options



LONDON, UK, Sept. 19, 2011 /CNW/ - Afferro Mining Inc. ("Afferro" or the "Company"), the TSX-V / AIM listed exploration and development company with iron ore projects in Cameroon and Liberia, has applied for 20,000 new common shares in the Company ("Common Shares") to be admitted to trading on the AIM market of the London Stock Exchange ("Admission"). Application will also be made for listing on the TSX Venture Exchange ("TSX-V").

The new Common Shares are being issued pursuant to the exercise of options. Admission is expected to become effective on 23 September 2011. The new Common Shares will rank pari passu with the Company's existing Common Shares.

Following admission of the new Common Shares, the total issued share capital of the Company will be 103,934,700 Common Shares, all of which have voting rights.

The above figure (103,934,700) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Afferro Mining Inc.

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 Nkout iron ore project (the "Nkout Project"), and surrounding iron targets in Cameroon and which is subject to a resource expansion drilling programme. Afferro also has a 38.5% interest in the Putu iron ore project in Liberia (the "Putu Project"), which is subject to a resource expansion drilling programme and is moving through pre-feasibility managed by joint venture partner Severstal Resources (the mining division of London and Moscow listed OAO Severstal). In September 2010, the Putu Project was granted a 25 year renewable Mineral Development Agreement by the Government of Liberia.

Qualified Person

Howard Baker has some ten years experience in the exploration, definition and mining of iron ore Mineral Resources. Howard 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 mineralization 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 NI43-101 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 misleading.

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

Evolution Securities Limited

Nominated Adviser: Jeremy Ellis / Neil Elliot

Corporate Broker: Tim Redfern / Jonathan Wynn

Tel: +44 (0) 20 7071 4300

RBC Capital Markets

Joint Broker: Martin Eales / Richard Hughes

Tel: +44 (0) 20 7653 4000

Pelham Bell Pottinger

Charles Vivian / James MacFarlane

Tel: +44 (0) 20 7861 3232

Profil de l'entreprise

Afferro Mining Inc.

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