Mr. Pierre Leveille reports
AFRI-CAN MARINE ANNOUNCES GEOPHYSICAL SURVEY AND SAMPLING ON EPL 3403 IN NAMIBIA
Followingthe results of Afri-Can Marine Minerals Corp.'s successful preliminarysampling program completed on April 19, 2011, in the exclusiveprospecting licence (EPL) 3403 marine diamond concession in Namibia, itplans to conduct an acoustic and seismic geophysical survey on thesouthern region of the EPL to be followed by a resource delineationsampling program.
The geophysical survey will cover the three main depositional areas andthe prospective area delineated by the recent diamond sampling program.The survey will consist of coverage of about 1,000 line-kilometres at125-metre spacing on the depositional areas that proved to bemineralized. The aim of the surveying program is to define with greatdetail the areas to be sampled for resource delineation.
Afri-Can is currently in discussion with International Mining andDredging Holdings Ltd. (IMDH) to charter the vessel DP Star, whichpossesses all of the necessary technology for the geophysical survey.Commencement of the survey will be disclosed to investors once vesselavailability is confirmed.
Further to the geophysical survey, Afri-Can plans to conduct a resourcedelineation sampling program on the depositional mineralized areas inthe southern region. The details of the program will be completed afteranalysis of the geophysical survey data.
Subject to the results of the resource delineation sampling program,Afri-Can then plans to carry out a trial mining program on the southernregion's three depositional areas. Trial mining is envisaged to start inearly 2012.
Richard W. Foster is responsible for the technical part of this pressrelease and is the designated qualified person under the terms ofNational Instrument 43-101.
EPL 3403 covers approximately 800 square kilometres and is adjacent tothe north of the Atlantic One mining lease 47 (owned by Namdeb DiamondCorporation (Pty.) Limited, a 50:50 partnership between the governmentof the Republic of Namibia and De Beers Centenary AG), which is thelargest marine diamond deposit in the world. ML 47 is currentlyproducing in excess of 1.5 million carats per year. Afri-Can has anoption to earn 100 per cent of EPL 3403 by incurring explorationexpenditures of $5.5-million (U.S.) and the issuance of 65 millionAfri-Can common shares to Thyme Investments (Pty.) Ltd. (the currentowners of EPL 3403). The first sampling program, completed at a cost ofabout $2-million (U.S.), enables Afri-Can to earn 20 per cent of theshares of Thyme by issuing 20 per cent of the 65 million shares.
We seek Safe Harbor.