Appointment of Group CFO and Director

18 October 2010

African Minerals Limited

 ("African Minerals" or "the Company")

Appointment of Group CFO and Director

African Minerals Limited (AIM:AMI), the iron ore project development company that is developing the Tonkolili project in Sierra Leone, West Africa, is pleased to announce the appointment of Miguel Perry as Group Chief Financial Officer and as a Director, effective today. 

Miguel, aged 39, was, between 2007 and 2009, the Chief Financial Officer and a member of the Board of Directors of Eurasian Natural Resources Corporation plc (LSE: ENRC), a leading diversified metals and mining group and a member of the FTSE 100. During his time with ENRC Miguel managed a successful IPO, raising US$3bn in December 2007 and obtaining a listing on the main board of the London Stock Exchange. He has significant experience of capital markets, M&A, Investor Relations and Risk Management.

Prior to joining ENRC Miguel was a partner at PricewaterhouseCoopers ("PwC") in Geneva. Before moving to Switzerland he spent seven years with PwC Russia in the firm's Global Energy and Natural Resources department.

Miguel qualified as a Chartered Accountant after graduating from the University of Essex.

Commenting on the appointment, Frank Timis, Executive Chairman of African Minerals said:

"I am delighted to be able to announce the appointment of Miguel to the Board of African Minerals and as Group Chief Financial Officer. He brings with him a depth and breadth of experience which will prove invaluable for both the next stage in the Company's expansion and for the future success of African Minerals."

There is no information in relation to Mr. Perry's appointment required pursuant to Schedule 2 paragraph (g) of the AIM rules for Companies other than as follows:

Mr. Perry holds, or has held, the following directorships in the last five years

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