Africo Resources Ltd.

Africo Resources Ltd.

April 18, 2007 16:44 ET

Africo Increases Interest in Kalukundi Property

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 18, 2007) - Africo Resources Ltd. (TSX:ARL) is pleased to announce that it has now acquired the shares of The Enterprise H&J Swanepoel Famille Trust sprl (also known as H&J Swanepoel Family Trust sprl) ("H&J") that it did not previously own, through its wholly owned subsidiaries Africo Resources (BC) Ltd. (which holds 48% of the shares of H&J) and Kisankala Mining Corp. (which holds 52% of the shares of H&J). H&J is the holder of 75% of the shares of Swanmines sprl, which is the holder of the exploitation permit for the Kalukundi Property. As a result of this transaction, Africo Resources holds a 75% interest in the Kalukundi Property.

Africo Resources is an exploration company, which is focusing on the further exploration, development and mining of the high grade copper cobalt Kalukundi Project which is located in the Democratic Republic of the Congo ("DRC").

This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that Africo expects to occur, are forward-looking statements.

Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Africo believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration success, continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Africo's management on the date the statements are made. Africo undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Africo Resources Ltd.
    Dr. Tony Harwood
    President and CEO
    (604) 646-3225
    Africo Resources Ltd.
    Chris Theodoropoulos
    (604) 646-3225
    (604) 646-3226 (FAX)
    Africo Resources Ltd.
    Bill Cavalluzzo
    Investor Relations