African Metals Corporation
TSX VENTURE : AFR
FRANKFURT : OWW

African Metals Corporation

October 04, 2010 19:04 ET

African Metals Corporaton Announces Signing of Drilling Contracts for Follow Up Drilling at Luisha South Project Katanga Provence, Democratic Republic of Congo

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2010) - African Metals Corp. ("AFR") (TSX VENTURE:AFR)(FRANKFURT:OWW) is pleased to report that it has secured the services of two companies to conduct follow-up drilling at the Luisha South Project. Magnum Drilling Sprl has been engaged for 700 metres of reverse circulation (RC) percussion drilling, whilst Rubaco Sprl has been engaged for 1000 metres of diamond core drilling.

It is anticipated that the RC rig will commence drilling in the first week of October (Monday 4th), whilst the diamond rig will mobile to site at or around the 10th October with drilling to commence shortly thereafter. Preparations of the drilling pads and access tracks are well in hand and subject to any delays caused by third parties, drilling should commence on time.

Reverse Circulation Program

The RC program has two phases. The first to pattern drill the historic stockpile adjacent to the Luisha South Pit. Excavator sampling conducted by independent consultants Strathcona Mineral Services in 2007 produced samples from ten excavator pits that ranged in grade from 0.1 % to 1.9 % copper, and 0.1 % to 0.9 % cobalt. The grades and approximate tonnage (350,000 tonnes) suggest a potential for the stockpile to be economically viable through a heap leach process (refer NI 43-101). The drilling program will enable a resource estimate of the copper and cobalt content, whilst the cyclone samples from the program are earmarked for bulk sample leach test work at a facility in the nearby town of Likasi.

The second phase of the program is to test drill the copper in soil geochemical anomalies highlighted by regional soil sampling programs conducted by Basanga Consulting Sprl (refer AFR press release 22 June 2010). The anomalies are to the south and southeast of the Luisha Pit. Three of the anomalies are broad (between 150 and over 400 metres in size) with values between 190 and 500 ppm copper; the fourth anomaly represents a two point feature that returned 3,884 ppm copper.

Diamond Drilling Program

The diamond drilling program is a combination of new holes from surface and tails to existing RC drill holes. Geological interpretation of the June RC drill program indicated that a number of the holes either finished short of, or within, zones of mineralization; ground water being the common cause of early hole termination. Positive data from the diamond holes would enable an upgrade to the maiden resource assessment, which is due to be released in early October.

AFR will be keeping the market updated on progress as and when results become available during this exciting phase of the development of the company.

To view the map associated with this release, please visit the following link: http://media3.marketwire.com/docs/afr_map.pdf.

Nigel Ferguson, AusIMM, President and CEO of the Company and a qualified person under National Instrument 43-101, has verified data disclosed in this release.

ON BEHALF OF THE BOARD OF DIRECTORS OF AFRICAN METALS CORPORATION

Nigel Ferguson, President & CEO

This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.

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