AFCAN MINING CORPORATION

AFCAN MINING CORPORATION

March 10, 2005 12:35 ET

AFCAN Announces Project Commencement and 2005 Exploration Budget


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: AFCAN MINING CORPORATION

TSX SYMBOL: AFK

MARCH 10, 2005 - 12:35 ET

AFCAN Announces Project Commencement and 2005
Exploration Budget

TORONTO, ONTARIO--(CCNMatthews - March 10, 2005) - AFCAN (TSX:AFK) is
pleased to announce that at a meeting of the Board of Directors of the
Company, on 8th March the following decisions were made:



- to immediately start the detailed design and construction of the
Tanjianshan Project
- to spend US$2.5 million on exploration in 2005

The design will be done by BGRIMM, a leading Chinese design institute
that have recently completed the conceptual design of the project.
They will be supervised by GBM-Mec Ltd of the UK. Afcan have also
appointed GBM as its Owner's Representative for the design,
procurement and construction of the project.

Subject to financing, the first gold pour is expected in the second
quarter of 2006.

At the same Board meeting, the 2005 exploration budget was approved
as follows:

- US$1.00 million on extending the current orebodies to add
additional ounces to the project
- US$1.25 million on the 4 exploration licences which contain 23
known geochemical anomalies
- US$0.25 on regional exploration


The programme is being carried out under the supervision of Phil Fillis,
an independent geological expert and Qualified Person for Afcan.

AFCAN is an emerging gold producer in China and owns 85 % of the TJS
Project at Tanjianshan in Qinghai Province. Construction has commenced.
There are an additional 23 anomalies on the licence area of 341 km2 that
are being explored. Afcan's growth is focused on exploration and
development of its advanced projects.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    AFCAN Mining Corporation
    David G Netherway
    President-CEO
    +1 (416) 360 3404
    or
    AFCAN Mining Corporation
    Benoit La Salle
    Chairman
    +1 (514) 744-2225
    info@afcan-mining.com
    http://www.afcan-mining.com
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