Jul. 5, 2011 (Canada NewsWire Group) --
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWS WIRE SERVICES./
TSX-V: AFF
AIM: AFF
LONDON, UK, July 5, 2011 /CNW/ - Afferro Mining Inc. ("Afferro" or the "Company"), the TSX-V / AIM listed exploration and development company with iron ore projects in Cameroon and Liberia, has applied for 46,875 new common shares in the Company ("Common Shares") to be admitted to trading on the AIM market of the London Stock Exchange ("Admission").
The new Common Shares are being issued pursuant to the exercise of options. Admission is expected to become effective on 11 July 2011. The new Common Shares will rank pari passu with the Company's existing Common Shares.
Following admission of the new Common Shares, the total issued share capital of the Company will be 86,336,523 Common Shares, all of which have voting rights.
The above figure (86,336,523) 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 Mining Inc.
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.
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.
Afferro Mining Inc.
Luis da Silva, President & CEO
Tel: +44 (0) 20 7257 2930
Evolution Securities Limited
Nominated Adviser: Jeremy Ellis / Neil Elliot
Corporate Broker: Tim Redfern / Jonathan Wynn
Tel: +44 (0) 20 7071 4300
RBC Capital Markets
Joint Broker: Martin Eales / Richard Hughes
Tel: +44 (0) 20 7653 4000
Pelham Bell Pottinger
Charles Vivian / James MacFarlane
Tel: +44 (0) 20 7861 3232