Afri-Can Marine Minerals Corporation V.AFA

RE: Sampling

[scorpio40]

ÏMPATIENTONE, you are free to moan, whine, cry, bash, snear, yell, squint, hold your breath, stand on your head, put your foot in your mouth (you've do it a few times), post half-truths, inneundos and anything else you want to, the choice is yours, but there is one thing you can't do and that is, undermine the confidence the long-term shareholders have in AFA On a more positive note, copy of the press release issued today WESTMOUNT, QUEBEC, Aug 7, 2002 Mr. Pierre Leveille, President of Afri-Can Marine Minerals Corporation, is pleased to announce that it has closed private placement agreements totaling $1,750,000. The private placement comprises 5,833,333 units priced at $0.30 per unit. Each unit consists of one share and one-half warrant. Each full warrant will entitle the holder to acquire an additional share at $0.40 over a period of 18 months. Securities issued in the placement are subject to exchange hold periods expiring December 7, 2002 and July 8, 2003. Proceeds from the private placement will be mainly used towards the sampling program on Block J in Namibia. Negotiations with contractors are well advanced and shareholders will be kept advised of developments. Afri-Can Marine Minerals Corporation is a Canadian-based exploration company, actively involved in the acquisition, exploration and development of major diamond properties. The Corporation's large and prospective license holdings together with its growth strategy place it among the important participants in the marine diamond business. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Afri-Can Marine Minerals Corporation Pierre Leveille President & CEO Bernard J. Tourillon Executive V.P. and CFO John Stella Public Relations [phone] [phone] (FAX) EMAIL: [e-mail] WEB SITE: www.afri-canmarine.com