Afferro Mining Inc. - Purchase of Further Shares by International
Mining & Infrastructure Corporation plc. ("IMIC")
TSX-V: AFF
AIM: AFF
LONDON, Jan. 30, 2013 /CNW/ - 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.
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.
SOURCE Afferro Mining Inc.
