Director Dealings

For Immediate Release: 9 January 2012

West African Minerals Corporation

("WAFM" or the "Company")

Director Dealings

The Company has today been notified that Regent Mercantile Holdings Limited (a company owned by a trust under which Stephen Dattels is a beneficiary) has confirmed that it has completed an off-market acquisition of 716,000 ordinary shares of nil par value ("Ordinary Shares") at a price of 10 pence per share. Following this transaction Stephen Dattels* is interested in 25,228,462 Ordinary Shares, representing approximately 13.43 per cent. of the Company's issued ordinary share capital.

The 716,000 Ordinary Shares purchased by Regent Mercantile Holdings Limited will be locked in under Rule 7 of the AIM Rules for Companies until the first anniversary of today's Admission ("Rule 7 Lock-in") and will be subject to orderly market arrangements during the following twelve months after the initial one year lock-in period ("OMA Lock-in"). As a result of these purchases the Directors and their related parties, applicable employees and substantial shareholders (each as defined in the AIM Rules for Companies) hold voting rights in respect of 93,335,242 Ordinary Shares representing approximately 49.69 per cent. of the Company's issued ordinary share capital, all of which will be locked-in under the Rule 7 Lock-in and the OMA Lock-in.

Note

*Stephen Dattels Ordinary Shares are held by Regent Mercantile Holdings Limited, a company owned by a trust under which Stephen Dattels is a beneficiary.

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