/NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US
NEWS WIRE SERVICES./
LONDON, UK, July 10, 2013 /CNW/ - Afferro Mining Inc. ("Afferro" or the
"Company"), notes the announcement made by International Mining &
Infrastructure Corporation plc ("IMIC") on 10 July 2013 which states
that IMIC has acquired an additional 1,080,000 shares in the Company at
an average price of 79.6p. Following the acquisition, as at 10 July
2013, IMIC held 20,111,342 ordinary shares in Afferro representing
19.15% of the Company's current voting rights.
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
1.6Bt at 33.3% Fe and an Inferred Mineral Resource Estimate of 0.9Bt at
30.8% 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 totalling $84m on the 31 March 2013
and is fully funded for at least the next two years.
Howard Baker (MAusIMM(CP)) has 19 years' experience in the mining industry and 11
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 misleading.
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:
Afferro Mining Inc.
Luis da Silva / Jeremy Cave
Tel: +44 (0) 20 7010 7680
Tel: +44 (0) 207 597 5970
RBC Capital Markets
Martin Eales / Richard Hughes
Tel: +44 (0) 20 7653 4000
Pelham Bell Pottinger
Daniel Thöle / James MacFarlane
Tel: +44 (0) 20 7861 3232