Achievement of 20Mtpa export rate

18 June 2013

African Minerals Limited

("African Minerals", "AML", or "the Company")

Achievement of 20Mtpa export rate

African Minerals, the Africa-focussed mining company operating the Tonkolili iron ore mine in Sierra Leone, is pleased to announce that, following the completion and commissioning of the high capacity second car dumper at Pepel Port, it has successfully achieved its target 20Mtpa export run rate during Q2 2013 as per our previous guidance.

This is evidenced by the sailing of 10 Cape Size Vessels over the 30 days, from 18 May to 16 June 2013.

Highlights

·; The Processing plants have been consistently operating above the 20Mtpa run rate target since 1 May. The average annualised production run rate for the period from 1 May to 16 June was 20.3Mtpa. The average annualised production rate for the period from 18 May to 16 June was 20.7Mtpa.

·; Following the commissioning of the high capacity car dumper at Pepel, the Rail and Port facilities started to ramp up towards target and from 18 May successfully despatched 10 Cape Size Vessels carrying 1.7 million tonnes of product during the subsequent 30 days. The average annualised run rate for the period from 18 May to 16 June was 20.7Mtpa.

·; Peak daily production for the Mining was 75,852 tonnes and Processing plants was 72,526 tonnes or an annualised rate of 27.7Mtpa and 26.5Mtpa respectively.

·; The peak daily throughput rate for Rail was 62,336 tonnes and Port was 68,986 tonnes or an annualised rate of 22.8Mtpa and 25.2Mtpa respectively.

Each of the elements of the integrated mine and infrastructure have successfully operated at above target capacity during the period, thus demonstrating that the Project can operate at a sustained export run rate of 20Mtpa.

Keith Calder, CEO, commented:

"It is testament to the capability of the team at African Minerals that the practical demonstration of a sustainable run rate of 20Mtpa, has come so soon after the physical installation of capacity. The No. 2 Dumper at Pepel was commissioned with first ore being offloaded on 29 April. Of equal importance is the fact that these operating accomplishments were achieved during the start of the rainy season in Sierra Leone with 355mm of rain falling at the Port facilities since the beginning of May, an early demonstration of the success of our wet season shipping strategy in FY13.

Our focus now is to continue to successfully manage our production and infrastructure through the wet season, and we remain on track to meet our previous guidance of exporting 13-15Mt in 2013, and to bring the cost of production down to circa $30/t by year end."

The Company expects to report its Q2 IMS in late July, at which time more detail regarding production will be presented.

-ENDS-

Contacts:

African Minerals Limited

+44 20 3435 7600

Mike Jones / Klara Kaczmarek

FTI Consulting

+44 20 7831 3113

Ben Brewerton / Oliver Winters

Jefferies

+44 20 7029 8000

Nick Adams / Alex Collins

About African Minerals

African Minerals is developing its Tonkolili Iron Ore Project (the "Project") in Sierra Leone, with a JORC compliant resource of 12.8Bnt. The Project, which currently has a 60+ year mine-life, is being developed in a number of staged expansions. The current Project operations are expected to produce 20 million tonnes of iron ore per annum at full capacity, with this run-rate of production achieved in Q2 2013.

The next stage of Project expansion now contemplates the production of up to 35Mtpa of 64% high grade hematite concentrate and the expansion of the current port facilities at Pepel, expected to enter production in 2016.

The Company has also developed significant port and rail infrastructure to support the operation of the Project, via its subsidiary African Rail and Port Services (SL) Limited ("ARPS"), in which the Government of Sierra Leone ("GoSL") has a 10% free carried interest.

The Project companies are currently owned 75% by AML, and 25% by Shandong Iron and Steel Group ("SISG"), except for ARPS, which is currently owned 75% by AML and 25% by SISG, with the GoSL having a 10% free carried interest.

www.african-minerals.com

African Minerals Limited