Afferro Mining Inc. - Response to Press Speculation

LONDON, UK, Dec. 31, 2012 /CNW/ - Further to the press speculation on 30 
December 2012, the board of Afferro Mining Inc. ("Afferro", TSX-V & AIM: AFF) 
confirms that it has received an initial approach from International Mining 
and Infrastructure Corporation Plc ("IMIC"). IMIC would be prepared to make an 
offer, subject to completion of satisfactory due diligence and certain other 
conditions, for the entire issued and to be issued share capital of Afferro at 
between 115 and 140 pence per Afferro share. The consideration is to be 
satisfied by an undisclosed mix of cash, yet to be raised by IMIC, and new 
IMIC shares. 
The approach from IMIC is at a very early stage and there can be no certainty 
that a formal offer will be forthcoming. In addition, Afferro continues to 
have discussions with other interested parties regarding a possible offer for 
the issued and to be issued share capital of Afferro. 
Afferro is currently under exclusivity obligations with one other party which 
preclude Afferro from engaging in discussions with IMIC until January 13, 2013. 
Afferro wishes to stress that there is no certainty that the approach by IMIC 
or the other discussions will lead to an offer being made to the company. 
Shareholders are not presently advised or required to take any action. Afferro 
does not intend commenting further on the approach or other discussions unless 
a definitive agreement is reached or unless otherwise required by law or 
applicable regulation. 
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. 
Qualified Person 
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. 
Forward-looking Statements 
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 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 
Nominated Adviser: Neil Elliot Corporate Broker: Chris Sim Tel: +44 (0) 20 
7597 4000 
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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