MONTREAL, QUEBEC — (Marketwire) — 01/31/13 — Afri-Can Marine Minerals Corporation („Afri-Can“) (TSX VENTURE: AFA) today summarized the results of the first phase of its sampling program completed on December 16th, 2012, on the Exclusive Prospecting Licence („EPL“) 3403 marine diamond concession in Namibia (see Map 1 attached). The program successfully extracted 222 samples of 5 square metres each and recovered 17 diamonds weighing between 0.05 and 0.75 carats for a total weight of 4.55 carats.
The sampling program has greatly increased our understanding of the geology in certain regions. It also confirms the potential and validates the planned acquisition of EPL 3403, which warrants a second sampling phase and the start of planning for trial mining on certain areas.
Results are summarized as follows:
The following table shows the total samples and diamond recoveries from all the programs carried out by Afri-Can, International Mining and Dredging Holding Ltd. and De Beers Marine in EPL 3403 South:
The average diamond size is similar to that found on concessions nearby, and the high quality of the diamonds is typical of those found off the coast of Namibia.
All data and geological logs from the current and previous sampling programmes are currently being analyzed in order to refine and complete the planning of the second sampling phase that is expected to comprise about 300 samples. The second sampling phase will start once the vessel Mv DP The Explorer becomes available.
Pierre Leveille, President and CEO of Afri-Can, stated that, „The results of the first phase of this sampling program are satisfying and lead to resource development as well as eventual trial mining on targeted areas. We feel that we are sitting on a strong project in a very solid industry.“
Bob De Decker (M.Sc., Pr.Sci. Nat.) is the author of the geophysical survey analysis report and is responsible for the technical part of this press release, and is the designated Qualified Person under the terms of National Instrument 43-101.
EPL 3403 covers approximately 800 square kilometres and is adjacent to the north of the Atlantic One Mining Lease („ML“) 47 owned by Namdeb Diamond Corporation (Pty) Limited, a 50:50 partnership between the Government of the Republic of Namibia and De Beers Centenary AG. ML 47 is the largest marine diamond deposit in the world and is currently producing in excess of 1,100,000 carats per year.
About Afri-Can Marine Minerals Corporation
Afri-Can is a Canadian company, actively involved in the acquisition, exploration and development of major mineral properties in Namibia. Afri-Can-s creative and scientific approach targets large marine diamond deposits in prospective territories.
This press release contains certain „forward-looking statements,“ as identified in the Afri-Can-s periodic filings with Canadian Securities Regulators that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Shares outstanding: 83,277,864
There is a map associated with this press release at this address:
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.
Contacts: Pierre Leveille President & CEO (514) 846-2133 TOLL FREE North America: 1 (866) 206-7475 (514) 372-0066 (FAX)
Bernard J. Tourillon Executive V.P. and CFO (514) 846-2133 TOLL FREE North America: 1 (866) 206-7475 (514) 372-0066 (FAX)
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