Afferro Mining Inc. Total Voting Rights

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TSX-V: AFF
AIM: AFF

LONDON, UK, Dec. 30, 2011 /CNW/ - 30 December 2011, Afferro Mining Inc. ("Afferro" or the "Company") the TSX-V / AIM listed exploration and development company with iron ore projects in Cameroon and Liberia, confirms that, on 30 December 2011, its capital consisted of 104,003,387 common shares with voting rights. On that date, no shares were held in treasury. The total number of voting rights in the Company is, therefore, 104,003,387.

The above figure (104,003,387) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Afferro under the FSA's Disclosure and Transparency Rules.

About Afferro Mining Inc.
Afferro Mining is an established exploration and development company listed on the TSX-V (AFF) and London's AIM (AFF). Afferro Mining's portfolio includes the Nkout iron ore project, which has an estimated Indicated Mineral Resource of 701 million tonnes grading 32.4% Fe, 45.8% SiO₂ and 2.4% AL₂O₃ and 0.05% P Inferred Mineral Resource of approximately 716.5 million tonnes grading 34.8% Fe, 41.6% SiO₂ and 3.2% AL₂O₃ and 0.05% P, and surrounding iron targets in Cameroon which is subject to a resource expansion drilling programme targeting 4Bt. Afferro Mining also has a 38.5% interest in the Putu iron ore project in Liberia (the "Putu Project"), which has an estimated Inferred Mineral Resource of 185 Mt of oxide material with a grade of 37.8% Fe, 17 Mt of haematite itabirite at 48.25% Fe, and 2,173 Mt of magnetite itabirite at 33.7% Fe. The Putu Project is subject to a resource expansion drilling programme and is moving through pre-feasibility managed by joint venture partner Severstal Resources (the mining division of London and Moscow listed OAO Severstal). In September 2010, Putu was granted a 25 year renewable Mineral Development Agreement by the Government of Liberia. On 23 December 2011, Afferro entered into a definitive sale and purchase agreement with Lybica Holdings B.V. ("Lybica"), an affiliate of Severstal Resources to sell its 38.5% interest in the Putu Project for a minimum total consideration of $115 million.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.