Director/PDMR Shareholding

26 June 2013

African Minerals Limited

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

Extension of exercise period for director share options

African Minerals Limited (AIM: AMI) announces that it has extended the exercise period for share options granted to Mr Gibril Bangura by two years to 21 November 2014. This relates to options over 1,000,000 common shares in the Company, at an exercise price of 50p, which have vested, and which were granted on 22 November 2004.

-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