Holding(s) in Company

West African Minerals Corporation

Anton Mauve

Managing Director

+44 (0) 1624 639396

Beaumont Cornish Limited (Nominated Adviser)

Roland Cornish

Michael Cornish

+44 (0)20 7628 3396

SP Angel Corporate Finance LLP (Broker)

Ewan Leggat

+44 (0) 20 3470 0500

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

WEST AFRICAN MINERALS CORPORATION

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

Previous notification of interest in shares made on 2nd May 2014 contained incorrect information which Panetta has only now become aware of. Panetta has not dealt in any shares in WAFM since its most recent participation in the company's financing round which was announced on 2nd May 2014. This TR-1 is correcting previously notified dealings.

X

3. Full name of person(s) subject to thenotification obligation: iii

Panetta Partners Limited

4. Full name of shareholder(s)  (if different from 3.):iv

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

29 April 2014

6. Date on which issuer notified:

2 May 2014

7. Threshold(s) that is/are crossed orreached: vi, vii

14%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

Shares

37,058,775

37,058,775

57,559,775

57,559,775

Nil

15.10

Nil

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

57,559,775

15.10

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will ceaseto hold:

12. Date on which proxy holder will cease to holdvoting rights:

13. Additional information:

14. Contact name:

Saul Sender

Mishcon de Reya

15. Contact telephone number:

02074404700