Africo Resources Ltd.

Africo Resources Ltd.

September 19, 2007 16:59 ET

Africo Receives Further Support From DRC Legal System

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 19, 2007) - Africo Resources Ltd. (TSX:ARL) is pleased to announce that further advances have been made in its efforts to be reinstated as the rightful owner of the Kalukundi asset in the DRC. An ordinance (ruling) was obtained from the Tribunal de Grande Instance de Kinshasa/Gombe (Kinshasa/Gombe District Court). On a preliminary translation, the ordinance states that Societe H & J Swanepoel Sprl ("H&J"), Africo's wholly owned subsidiary, is still a 75% holder of the shares of Swanmines Sprl, which is the owner of the Kalukundi property. It also states that the shares held by H & J are not those shares which Africo would have held and which AKAM Mining Sprl claims to have purchased at a public sale. Finally, the ordinance states that the founding partners of Swanmines Sprl, namely Gecamines and H & J, are the only partners in Swanmines and are authorized to carry on the business of Swanmines and in particular, to ensure the exploitation of the mineral rights contributed by Gecamines and authorized and approved by the Ministry of Mines. This ordinance reinforces the statements made in the letter issued by the Minster of Justice last week (see press release dated 13 September, 2007).

We are also continuing the process of appealing the initial judgment in favour of Mr. Berardone and have appeals pending on the purported sale of the shares in Swanmines Sprl. These initial judgements/orders were issued by the Tribunal de Grande Instance de Lubumbashi (Lubumbashi District Court) and are discussed in earlier news releases.

A copy of the ordinance in the French language and the English translation thereof will also be posted on our website in due course.

Note for editors:

Africo Resources Limited is a Canadian mineral company, committed to developing, acquiring and exploring for base metal and gold assets in Africa. The company's main project is Kalukundi, a development stage copper-cobalt deposit located on the Katangan Copperbelt in the Democratic Republic of Congo (DRC). The development team has an operational base in the DRC, with the company corporate offices located in Vancouver, Canada. The company listed on the Toronto Stock Exchange in December 2006.

Forward-looking statements:

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
    +27(11) 463-0081
    Africo Resources Ltd.
    Chris Theodoropoulos
    (604) 646-3225
    Africo Resources Ltd.
    Bill Cavalluzzo
    Investor Relations
    (416) 265-8049
    Africo Resources Ltd.
    Charmane Russell
    Investor Relations
    +27(11) 880-3924