Director's dealings

For Immediate Release: 30 January 2012

West African Minerals Corporation

("WAFM" or "Group")

Director Dealings

The Group was notified on 27 January that Regent Mercantile Holdings Limited (a company owned by a trust under which Stephen Dattels is a beneficiary) had completed the acquisition, at a price equivalent to 5p per underlying share, of a warrant to subscribe for 500,000 ordinary shares of nil par value ("Ordinary Shares"), exerciseable at a price of 10 pence per share at any time on or before 9 January 2014. Following this transaction and in addition to the warrant, 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 warrant purchased by Regent Mercantile Holdings Limited will be locked in under Rule 7 of the AIM Rules for Companies until 9 January 2013, being the first anniversary of Admission and will be subject to orderly market arrangements during the following twelve months after the initial one year lock-in period.

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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About West African Minerals Corporation

West African Minerals Corporation (AIM: WAFM) is a mining investment company focused on iron ore exploration in West Africa. Through its acquisition of Ferrum Resources, it holds interests in Cameroon and Sierra Leone as well as having applications pending in Guinea. Further information on the Group is available at www.westafricanminerals.com.