GECAMINES

Africo Resources announced that, following the conclusion of the mining review, it has reached agreement with La Générale des Carrières et des Mines and the Government of the Democratic Republic of Congo on the amended terms governing the Kalukundi property. The Kalukundi property is located in the Katanga Province in the southeast of the DRC. The mineral rights to Kalukundi are held by Swanmines Sprl. in which Africo holds a 75% interest and Gécamines, the remaining 25%. Tony Harwood, President and Chief Executive Officer of Africo, commented, "With the favourable conclusion of the mining review we can pursue corporate financing and development that will benefit all stakeholders. We anticipate the mining ministry's support as we maintain Kalukundi and its community programs, pending improved market conditions".