/NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWS
LONDON, UK, Jan. 14, 2013 /CNW/ - Further to the announcement of 31 December
2012, the Board of Afferro Mining Inc. ("Afferro", TSX-V & AIM: AFF) confirms
that the period of exclusivity that Afferro had entered into with a potential
offeror has now expired. Discussions with this party are continuing however
following the expiry of the exclusivity period Afferro is now in a position to
commence formal discussions with other parties who have expressed an interest
in making an offer for the entire issued and to be issued share capital of
Whilst the Company has received approaches from a number of interested
parties, there can be no certainty that a formal offer will be forthcoming.
Shareholders are not presently advised or required to take any action. Further
updates will be made as appropriate and as required under applicable laws and
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.
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
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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