Afferro Mining Inc : Purchase of Further Shares by International Mining & Infrastructure Corporation plc. ("IMIC")

Wed Jan 30, 2013
Purchase of Further Shares by International Mining & Infrastructure Corporation plc. ("IMIC")

30 January 2013

TSX-V: AFF

AIM: AFF

AFFERRO MINING INC.

Purchase of Further Shares by International Mining & Infrastructure Corporation plc. ("IMIC")

Afferro Mining Inc. ("Afferro" or the "Company"), the exploration and development company focused on iron ore in Cameroon, was notified on 29 January 2013 by IMIC that it has purchased an additional 1,111,111 common shares of no par value ("Common Shares") and has the option to acquire a further 1,864,300 Common Shares at 90 pence per Common Share. In addition, IMIC has voting control over the Common Shares that are subject to the option.

Following the above transactions IMIC now holds 5,243,342 Common Shares representing 4.99% of Afferro's issued share capital and has voting control over a total of 7,107,642 shares, representing 6.77% of the Company's issued share capital.

Afferro Mining Inc.

Luis da Silva / Jeremy Cave

Tel: [phone]

Investec

Nominated Adviser: Neil Elliot

Corporate Broker: Chris Sim

Tel: [phone]

RBC Capital Markets

Joint Broker: Martin Eales / Richard Hughes

Tel: [phone]

Pelham Bell Pottinger

Daniel Thöle / James MacFarlane

Tel: [phone]

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% iron and an Inferred Mineral Resource Estimate of 1.33Bt at 30.3% iron.

Qualified Person

Howard Baker (MAusIMM(CP)) has 18 years' experience 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.