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Licence and Marampa Update

25th Jul 2008 07:20

RNS Number : 8571Z

African Minerals Ltd

25 July 2008

African Minerals Limited

("African Minerals" or the "Company")

Mineral Licences and Marampa Iron Ore Project Update

African Minerals Limited (AIM:AMI), the mineral exploration company with interests principally in Sierra Leone, West Africa, is pleased to provide the following update in respect of its mineral licences and the Marampa Iron Ore Project.

Highlights

Government of Sierra Leone confirms validity of the Company's licence position

Four diamond drill holes completed at the Marampa iron ore project

Disseminated and sub-massive specular hematite mineralisation intersected at Marampa, with significant intervals ranging from 23% to 30% Fe

Results confirm extension of hematite mineralisation from the historical Marampa mine, where export records show 64% Fe product grades

Mineral Licence Update

African Minerals confirms that, following a review by the Government of Sierra Leone ("GoSL") of all mineral rights holdings within the country, the Company has received written confirmation from the GoSL that all the Company's mineral rights are valid and all its licences are in good standing.

Marampa Iron Ore Exploration Update

African Minerals is focusing on defining a JORC compliant resource at Marampa within the next 12 months, including the implementation of a drilling programme targeted at defining the optimal resource within the Company's licence area.

African Minerals conducted magnetic and gravity geophysical surveys and interpretations over the Marampa prospect area in 2007. The follow-up diamond drilling targeted anomalous gravity geophysical highs which were interpreted to correlate with hematite mineralisation extending from the former Marampa mining area into African Minerals' adjacent EXPL 09/06 exploration licence.

Four diamond drill holes were completed using African Minerals’ light reconnaissance drill rigs, with a total of 941 metres in depth being drilled. The drill hole locations and the gravity geophysical anomalies are shown in Figure 1 which can be accessed via the following link:

http://www.african-minerals.com/I/Images/News/RNS/Location_Map_of_Marampa_and.gif

Disseminated to sub-massive specular hematite mineralisation with iron grades was intersected with significant intervals ranging from 23 to 30% Fe (results are summarised Table 1). The drilling results confirm the extension of the hematite mineralisation from the previously mined area.

It is anticipated that conventional metallurgical processing could produce a high grade iron ore concentrate from this style of mineralisation with further test work required to confirm this, including the iron ore concentrate grades and the percentage weight recovery of hematite from the intersected mineralisation.

Commenting on the update, Frank Timis, Executive Chairman of African Minerals said:

"I am grateful to the Government of Sierra Leone for their recent licence review which has brought clarity and certainty to licence holdings in the country. This enables us to proceed with our exploration and development plans with confidence."

"The early exploration results at Marampa are encouraging and suggest the potential for significant iron mineralisation."

NOTES

Some statements in this news release are forward looking and consequently involve uncertainties and risks that could cause actual results to differ materially from those anticipated from initial indications. Such forward looking statements include comments regarding exploration work.

The information in this report relating to iron ore exploration results is based on information reviewed and compiled by Bruce Kirk, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr. Kirk, President Iron Ore and Base Metals, is a full-time employee of the Company and meets the requirements of a “Qualified Person” under the AIM Guidance Note on Mining, Oil and Gas dated March 2006 for iron ore Exploration Results. Mr. Kirk has consented to the inclusion of this information in the form and context in which it appears in this report.

It should be noted that there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource. The grades of the drill holes presently reported may not necessarily reflect the ultimate grade of the potential target.

Enquiries:

African Minerals Limited	Tel: +44 (0) 20 7849 3002
Frank Timis
Roy Pitchford

Canaccord Adams limited	Tel: +44 (0) 20 7050 6500
Mike Jones

Mirabaud Securities Limited	Tel: +44 (0) 20 7878 3360
Rory Scott

Citigate Dewe Rogerson	Tel: +44 (0) 20 7638 9571
Martin Jackson
George Cazenove

TABLE 1

Marampa Iron Ore Prospect, Sierra Leone

Diamond Drill Hole Summary Analyses

At 20thJuly 2008

Hole Number

From (m)

(m)

Apparent Width (m)

SiO2

Al2O3

MPD 001

including

260

8.4

27.8

64.2

47.0

10.4

7.1

0.050

0.075

MPD 002

including

102

237

237.0

135

28.3

32.9

42.5

36.4

5.1

3.7

0.124

0.117

MPD 003

including

262.5

24.0

23.1

30.9

51.3

41.8

7.0

8.4

0.260

0.057

MPD 004

including

181.5

60.0

29.9

32.6

45.7

43.9

5.6

5.8

0.192

0.047

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCBIGDRGUDGGIS

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