Africo Resources Ltd. - Press Release

    TORONTO, April 27 /CNW/ - Africo Resources Ltd. (TSX: ARL) Africo has
been made aware of a decision (the "Decision") rendered by a court in
Lubumbashi, Democratic Republic of the Congo ("DRC") in a matter between Akam
Mining s.p.r.l. ("Akam") and La Générale des Carrières et des Mines
("Gécamines"). The latter holds a 25% interest in Swanmines s.p.r.l.
("Swanmines"), the entity that owns the Kalukundi copper/cobalt deposit in the
    The Decision is related to the ex parte default judgment obtained by
Alejandro Berardone (the "Berardone Judgment") described in Africo's news
release of February 23, 2007. Africo has an appeal application to oppose the
Berardone Judgment.
    A preliminary translation of the Decision indicates that it contains a
declaration by the court to the effect that it accepts the assertion by Akam
that Akam (and thus not Africo through its subsidiaries) is the owner of the
remaining 75% of Swanmines. The Decision appears to accept Akam's claim that
it acquired 75% of Swanmines at a sale in execution pursuant to the Berardone
Judgment for the sum of US$600,000. Acting pursuant to the Decision, a meeting
of Akam and Gecamines was held on April 20, 2007 at which the purported
interest of Akam was recognized in the constating documents of Swanmines and
other corporate acts were undertaken without the knowledge of Africo.
    Africo has been advised by DRC counsel that the purported sale is illegal
and not only subject to rescission in conjunction with the Berardone Judgment,
but is also null and void because the Swanmines shares in question are owned
by H&J Swanepoel Famille Trust s.p.r.l., which is not a party to any of these
    Africo was not made aware of any threatened or impending legal
proceedings involving Akam and Gécamines nor was it given notice of the
meeting on April 20. Africo has been advised by DRC counsel that an appeal has
been lodged in the proceedings between Akam and Gecamines to have the Decision
set aside.
    In addition to the pending application for rescission of the Berardone
Judgment and further possible legal action against Akam, Africo's DRC counsel
has advised that a complaint for judicial misconduct by the Lubumbashi court
is also being filed in the Supreme Court of the DRC in Kinshasa. Africo is
advised that if this proceeding is successful, all previous judgments and
orders pertaining to this subject matter will be null and void. In addition,
Africo is pursuing all other available avenues to have the Decision set aside
forthwith and the amendments to the constating documents rescinded.
    Africo believes that these actions taken by third parties in the DRC are
wholly without merit. Africo will vigorously pursue its interests in the
courts and is optimistic that it will prevail, although there can be no
assurance of this.

    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. 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.

For further information:

For further information: Africo Resources Ltd., Dr. Tony Harwood,
President and CEO or Chris Theodoropoulos, Chairman, (604) 646-3225; Michael
O'Brien, Chief Financial Officer, (604) 646-3225; Bill Cavalluzzo, Investor
Relations, 1-866-365-4706; E-mail:; Website:

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