AfriOre Limited

AfriOre Limited

March 11, 2005 15:17 ET

AfriOre Proposes Continuance Into The British Virgin Islands


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: AFRIORE LIMITED

TSX SYMBOL: AFO

MARCH 11, 2005 - 15:17 ET

AfriOre Proposes Continuance Into The British Virgin
Islands

BRIDGETOWN, BARBADOS--(CCNMatthews - March 11, 2005) - AfriOre Limited
(TSX:AFO) ("AfriOre") announces that it has called a special meeting of
shareholders to be held on or about April 27, 2005 for the purpose of
obtaining shareholder approval for a proposed continuance (or change of
jurisdiction of incorporation) of AfriOre from Barbados to the British
Virgin Islands (the "Continuance"), subject to regulatory approval.

The Continuance is being proposed in order to permit AfriOre to appoint
auditors which are participating members of the Canadian Public
Accountability Board (as required by Canadian Securities legislation)
and to facilitate corporate activities, including future financings, and
the possible listing of AfriOre's shares on other stock exchanges, as
will be more fully discussed in the circular relating to the Continuance
which is expected to be dispatched to shareholders shortly.

About AfriOre

AfriOre is engaged in the acquisition, exploration and development of
gold and platinum exploration properties in Africa. It has gold
exploration properties in South Africa, Mali, Namibia and Kenya and a
Platinum Group Metals (PGM) property in South Africa.

AfriOre is listed in Standard & Poor's Corporation Records SEC 12g
3-2(b) exemption 82-4514.

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