Africo repurchases shares

VANCOUVER, Nov. 5 /CNW/ - Africo Resources Ltd (TSX: ARL) announces that it repurchased 1,731,000 of its common shares (the "Repurchased Shares") on November 3, 2009 from its Chairman Mr Chris Theodoropoulos, at a price of $0.76 per share, being the closing price of Africo's shares on Monday November 2, 2009. The Repurchased Shares were immediately cancelled and returned to treasury. The issued and outstanding shares of Africo will be 70,920,295 shares after cancellation of the Repurchased Shares.

Forward-looking statements:

This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that Africo expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Africo believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration success, continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Africo's management on the date the statements are made. Other than as required by law, Africo undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

    
    The Toronto Stock Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.
    

%SEDAR: 00024685E

SOURCE AFRICO RESOURCES LTD.

For further information: For further information: Michael O'Brien, Chief Financial Officer, on Tel: (604) 646-3225

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AFRICO RESOURCES LTD.

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