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Africo Resources Ltd. is pleased to make public the contents of a letter received on the 12th September 2007 from Mr. Georges Minsay Booka, Minister of Justice for the Democratic Republic of the Congo (DRC). The letter is addressed to the Chairman of Gecamines, and copied to the President of the Republic, the Prime Minister, the First President of the Lubumbashi Court of Appeal, the Deputy General Manager of Gecamines, and our legal Counsel in Kinshasa, Maitre Lukombe. The letter advises Gecamines to take note that Akam Mining, which has claimed ownership rights to Swanmines s.p.r.l., has bought non-existent shares in Swanmines s.p.r.l. The letter reinforces that the rightful owners of Swanmines s.p.r.l. are, as they always have been stated by Africo Resources Ltd., the H&J Swanepoel Famille Trust s.p.r.l and Gecamines. H & J Swanepeol Famille Trust s.p.r.l. is held 100% through various subsidiaries by Africo Resources Ltd.
The letter directs Gecamines to prevent any disturbance to the organisation and running of Swanmines s.p.r.l., and states the ownership of Swanmines s.p.r.l. as being Gecamines (25%) and H&J Swanepoel Famille Trust s.p.r.l. (75%). Swanmines s.p.r.l. owns the Kalukundi asset in Katanga province, DRC.
Dr Tony Harwood, CEO of Africo Resources Ltd, said today that he continues to believe that justice will be done. “Africo Resources are the rightful owners of the Kalukundi asset, through its subsidiary company H&J, and the support received from the Minister will assist us in re-establishing that ownership.”
The original letter and English translation is available to view (PDF - 335KB).
Dr Tony Harwood, President and CEO, on tel: +27(11) 463-0081
Chris Theodoropoulos, Chairman, on tel: +1(604) 646-3225
Bill Cavalluzzo (Investor Relations) on tel: +1(416) 265-8049
Charmane Russell (Investor Relations) on tel +27(11) 880-3924
Africo Resources Ltd is a Canadian mineral company, committed to developing, acquiring and exploring for base metal and gold assets in Africa. The company̱s 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.
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 Africo̱s management on the date the statements are made. Africo undertakes no obligation to update these forward-looking statements in the event that managemenṯs 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.