Afferro Mining Inc. Media Speculation Regarding Possible Offer
/NOT FOR DISTRIBUTION IN THE UNITED
STATES OR FOR DISSEMINATION TO US NEWS WIRE SERVICES./
LONDON, UK,
Jan. 17, 2013 /CNW/ - The Board of
Afferro Mining Inc. ("Afferro", TSXV: AFF) (AIM: AFF) notes recent
media speculation regarding the status of negotiations regarding a
potential offer for the entire issued and to be issued share
capital of the Company.
The Company confirms that it remains in active
discussions with all potential offerors from whom it has received
approaches, including Jindal Steel
and Power Limited.
Whilst the Company has received approaches from
a number of interested parties, there can be no certainty that a
formal offer will be forthcoming.
Shareholders are not presently advised or
required to take any action. Further updates will be made as
appropriate.
About Afferro Mining Inc.
Afferro is an established exploration and
development company listed on the TSXV (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% Fe and an
Inferred Mineral Resource Estimate of 1.33Bt at 30.3% Fe.
Qualified Person
Howard Baker
(MAusIMM(CP)) has 18 years' experiences 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.
Forward-looking Statements
This announcement includes certain
forward-looking statements. All statements, other than statements
of historical fact, included herein are forward-looking statements
that involve various known and unknown risks and uncertainties as
well as other factors. Such forward looking statements are subject
to a number of risks and uncertainties that may cause actual
results or events to differ materially from current expectations,
including delays in obtaining or failure to obtain required
regulatory approvals. There can be no assurance that such
statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
statements.
SOURCE Afferro Mining Inc.
