A reply from Pierre - No bad news Dear Sir,
The TSX Venture has dropped by 50% in the last 5 months and Afri-Can being listed on this
Exchange is not very different than all the other exploration companies listed on the same market.
Also, the European crisis has an effect on European investors and as Afri-Can has many European shareholders, we tend to see time to time some selling coming from Europe to cover margin calls
or just because they are not comfortable with the market in general.
This being said, there is no bad news in Afri-Can. To the contrary it goes well.
As we have declared in our recent financial statement, we had to re-negotiate the acquisition of
EPL 3403 on better terms. This is now done and it will be signed and announced in a very near
future after our respective lawyers will have revised the agreement. Then the geophysical survey
will start soon after the signature of the new agreement.
The Haib copper project listing is also advancing well and many news are coming soon on thisproject.
It is important to understand that the value of this project worth $ 15 million for Afri-Can and its
shareholders making it a strong financial leverage for development and a nice return for our
shareholders when they will receive the shares of the new company.
There is many development and news to come in the short term and we are confident to unlock
shareholders value pretty soon.
Kind regards Pierre Leveille
President & CEO
Afri-Can Marine Minerals Corp.
1801 Mc Gill College Avenue, # 1325,
Montreal, Qc. Canada
H3A 2N4
Tel: 1-514-846-2133