Directors' Dealings

22 June 2010

African Minerals Limited

("African Minerals" or "the Company")

Directors' Dealings

African Minerals Limited (AIM:AMI), the mineral exploration company with significant iron ore interests in Sierra Leone, West Africa, announces that Timis Diamond Corporation yesterday transferred 500,000 Common Shares at an average price of USD 0.76 per share and transferred 65,000 shares to a third party for nil consideration. The transfer of 500,000 shares was pursuant to an agreement made in 2005 between Frank Timis and a third party , and follows the exercise by Timis Diamond Corporation of 500,000 warrants announced on 15 May 2008. Following the cessation of an extended close period, Timis Diamond Company has only now been able to transfer the shares which were the subject of those warrants. Timis Diamond Corporation is wholly owned by Safeguard Management Limited, which is the sole trustee of the Timis Trust. Mr Frank Timis, a director of the Company, is a beneficiary of the Timis Trust. Following this transaction, Mr Timis retains a beneficial interest in 40,810,002 shares representing approximately 15.18% of the issued share capital of the company.

The Company also announces that Mr Mark Ashurst, a director of the Company, yesterday sold 50,000 common shares in the Company, at an average price of 387p, that were held by him and certain immediate family members. Following the sale of these shares, Mr Ashurst and his immediate family hold 11,350 Common Shares representing approximately 0.004% of the issued share capital of the Company.

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