West African Minerals- best performing share award

For immediate release

12 October 2012

West African Minerals Corporation

("WAFM" or the "Company")

West African Minerals wins London Stock Exchange award as best performing share 2012

West African Minerals Corporation (AIM: WAFM) is pleased to announce that it has won the Best Performing Share award at the AIM Awards 2012. This is a factual award based on the share performance of all companies listed on AIM (approximately 1,100).

Brad Mills (Executive Vice Chairman) and Anton Mauve (Managing Director) collected the award on behalf of the Company at an awards dinner at old Billingsgate on 11 October.

Commenting on the award Stephen Dattels, CEO and Co-Chairman of the Company stated, "West African Minerals has had a highly successful year to date - both on the market and in Cameroon. The award reflects the significant shareholder value that is being created - by the founders securing the deal in very difficult market conditions, to the operators who continue to drive the project forward, and by the directors and management who continue to position the company as a leading iron ore exploration and development company in West Africa. As previously announced, the Company is currently completing stage 2 of its exploration program on its Binga property in Cameroon and expects to release interim drilling results in the weeks ahead. The Directors remain excited by the significant potential of the licences in Cameroon and believe further shareholder value can be created in both the short and long-term."

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About West African Minerals Corporation

West African Minerals Corporation (AIM: WAFM) is an iron ore mining and exploration group focused on West Africa with interests in iron ore exploration licences in Cameroon and Sierra Leone. Further information on the Group is available at www.westafricanminerals.com.