/NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWS
LONDON, UK, Dec. 18, 2012 /CNW/ - Further to the announcement of 14 December
2012, Afferro Mining Inc. ("Afferro", TSX-V & AIM: AFF) is pleased to confirm
the receipt of US$50,000,000 by Mano River Iron Ore Holdings Limited,
Afferro's wholly-owned subsidiary, from Lybica Holding B.V., an affiliate of
About Afferro Mining Inc.
Afferro is an established exploration and development company listed on the
TSX-V (AFF) and AIM (AFF). Afferro's portfolio includes the 100% owned
Nkout, Ntem and Akonolinga iron ore projects. It also holds a 70% interest
in the Ngoa project, an exploration target bordering Nkout. Nkout comprises
a National Instrument 43-101 ("NI 43-101") compliant Indicated Mineral
Resource Estimate of 1.19Bt at 32.9% Fe and an Inferred Mineral Resource
Estimate of 1.33Bt at 30.3% Fe.
Howard Baker (MAusIMM(CP)) has 18 years' experiences in the mining industry
and 10 years' experience in the exploration, definition and mining of iron ore
mineral resources. Mr Baker is a full-time employee of SRK Consulting (UK)
Ltd., an independent consultancy, and has sufficient experience which is
relevant to the style of mineralisation and type of deposit under
consideration, and to the type of activity which he is undertaking to qualify
as a Qualified Person in accordance with NI 43-101 and a Competent Person as
defined in the June 2009 Edition of the AIM Note for Mining and Oil & Gas
Companies. Howard Baker consents to the inclusion in the announcement of the
matters based on their information in the form and context in which it appears
and confirms that this information is accurate and not false or misleading.
This announcement includes certain forward-looking statements. All statements,
other than statements of historical fact, included herein are forward-looking
statements that involve various known and unknown risks and uncertainties as
well as other factors. Such forward looking statements are subject to a number
of risks and uncertainties that may cause actual results or events to differ
materially from current expectations, including delays in obtaining or failure
to obtain required regulatory approvals. There can be no assurance that such
statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements.
Information about the risks and uncertainties of the Company's business is
provided in its disclosure materials, including its Annual Information Form
and its MD&A for the 12 months ended 31 December 2011, available under the
Company's profile on SEDAR at www.sedar.com. Factors that could cause actual
results or events to differ materially from current expectations include but
are not limited to: exploration risks, the grade and recovery of ore which
is mined varying from estimates; estimates of future production, mine
development costs, timing of commencement of operations; changes in exchange
rates; access to capital; fluctuations in commodity prices; and adverse
political and economic developments in the countries in which we or our
investments operate. Although the Company has attempted to identify
important factors that could cause actions, events or results to differ
materially from those described in forward looking information, there may be
other factors that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that forward looking
information will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such information.
Accordingly, readers should not place undue reliance on forward-looking
information. The forward-looking information contained herein, speaks only as
of the date hereof (unless stated otherwise) and, except as may be required by
applicable law, Afferro disclaims any obligation to update or modify such
forward-looking statements, either as a result of new information, future
events or for any other reason.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Afferro Mining Inc.
Luis da Silva / Jeremy Cave Tel: +44 (0) 20 7010 7680
Investec Securities Limited
Nominated Adviser: Neil Elliot Corporate Broker: Chris Sim Tel: +44 (0) 20
RBC Capital Markets
Joint Broker: Martin Eales / Richard Hughes Tel: +44 (0) 20 7653 4000
Pelham Bell Pottinger
Daniel Thöle / James MacFarlane Tel: +44 (0) 20 7861 3232
SOURCE: Afferro Mining Inc.
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-0- Dec/18/2012 12:00 GMT
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