AFCAN MINING CORPORATION

AFCAN MINING CORPORATION

March 22, 2005 14:51 ET

AFCAN Announces Broker Warrants Extension


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: AFCAN MINING CORPORATION

TSX SYMBOL: AFK

MARCH 22, 2005 - 14:51 ET

AFCAN Announces Broker Warrants Extension

TORONTO, ONTARIO--(CCNMatthews - March 22, 2005) - AFCAN (TSX:AFK) is
pleased to announce that the Toronto Stock Exchange (TSX) has approved
the postponement of the time of expiry of the common share purchase
broker warrants (the "Broker warrants") issued on September 30, 2003 and
due to expire on March 30, 2005. The warrants will now expire on
September 30, 2005.

4,000,000 Broker warrants were initially issued in connection with the
issue and sale on September 30, 2003 of 40,000,000 Units. The units
consisted of 1 common share and 1/2 common share purchase warrant. The
20,000,000 common share purchase warrants, issued as part of the units,
entitle their holders to purchase 1 common share at a price of Can$0.375
per share on or prior to September 30th, 2005. The Broker warrants are
exercisable at the same price as the common share purchase warrants and
will now expire on the same day. No insider of the company holds Broker
warrants.

There are 3,270,500 common share purchase broker warrants (representing
2.5% of the total issued and outstanding common shares of the company)
affected by this announcement.

AFCAN is an emerging gold producer in China and owns 85% of the TJS
Project at Tanjianshan in Qinghai Province. A Bankable Feasibility
Study has been completed on the Project, detailed design has commenced
with construction starting shortly. There are an additional 23 anomalies
on the licence area of 341 km2 that are being explored. Afcan growth is
focused on exploration and development of its advanced projects.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    AFCAN
    David G Netherway
    President-CEO
    (416) 360-3404
    or
    AFCAN
    Benoit La Salle
    Chairman
    (514) 744-4408
    info@afcan-mining.com
    www.afcan-mining.com
    THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
    RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.