Afri-Can Marine Minerals Corporation V.AFA

Afri-Can Marine Announces Positive Pre-Feasibility Study

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MONTREAL, QUEBEC--(Marketwired - Jan. 23, 2014)

Afri-Can Marine Announces Positive Pre-Feasibility Study on Mining Lease 111 Off the Coast of NamibiaAfri-Can Marine Minerals Corporation ("Afri-Can") (TSX VENTURE:AFA) has completed a preliminary study of the feasibility of resuming mining during 2014 on Mining Lease ("ML") 111 situated off the coast of Namibia (see Map 1 and Map 2), for which Afri-Can has an option to acquire an 80% interest from Diamond Fields Ltd ("DFI"). The Pre-Feasibility Study ("PFS") is based on existing Probable Diamond Reserves of 319,000 carats, which are estimated from portions of the Indicated Mineral Resources that were press released on October 1^st, 2013.

A National Instrument 43-101 compliant technical report covering the Pre-Feasibility Study has been filed on Sedar and can be viewed at: www.sedar.com or on the web site of Afri-Can at www.afri-can.com.