Developing in a giant copper belt

AFRICA RESOURCESAFRICA RESOURCESINVESTMENT CONGRESS

Discovering and developing Copper & Cobalt projects in the world renowned Copper Belt of Central Africa. Nigel Ferguson – African MetalsNigel Ferguson African Metals

IRONMONGERS’ HALL, CITY OF LONDON ● TUESDAY-WEDNESDAY, 14-15 JUN 2011www.ObjectiveCapitalConferences.com

www.africanmetals.com 1

Discovering and developing Copper & Cobalt projects in the world renowned Copper Belt

of Central Africa.

www.africanmetals.com LONDON JUNE 2011

Company Disclaimer

If you are in doubt about the contents of this document you should consult a personauthorized and who specializes in advising on the acquisition of shares and othersecurities before taking any action. The whole of this document should be read.g yInvestment in the Company is speculative and involves a high degree of risk.

The Company is listed on the TSXV Exchange under the symbol AFR. The Directorsof African Metals Corp. accept responsibility, individually and collectively, for thep p p y y yinformation contained in this document and for compliance with the TSXV Rules. Tothe best of the knowledge and belief of the Directors (who have taken all reasonablecare to ensure that such is the case), the information contained in this document isin accordance with the facts and does not omit anything likely to affect they g yimportance of such information.

This document does not constitute an offer to sell or the solicitation of an offer tobuy Ordinary Shares in any jurisdiction in which such offer or solicitation isy y y junlawful. The distribution of this document in some jurisdiction may be restrictedby law and therefore persons into whose possession this document comes shouldinform themselves about and observe any such restriction. Any failure to complywith these restrictions may constitute a violation of the securities law of any such


jurisdiction. This document has neither been approved or disapproved by the TSXVExchange.

Investment Highlights• Operating in the world class Central African Copper Belt.

• Acquired a 75% interest in the Luisha South project between the high grade copper d it d l d b CIMCO d Ti R C i t 90% i t tdeposits developed by CIMCO and Tiger Resources. Can increase to a 90% interest

• October 2010 – Reported “hard rock” Inferred Resource Calculation of 75,400 Tonnes Copper and 23,200 Tonnes Cobalt.

• June 2011 – Reported Inferred Resource Calculation of 3,700 Tonnes Copper and 1,700 Tonnes Cobalt from Stockpile drilling.

F th d f t d Q3/2011 f L i h S th Pit• Further resource upgrades for expected Q3/2011 for Luisha South Pit• Metallurgical Test Results for both Stockpile and Pit samples expected Q3/2011

• Close to infrastructure; Access to roads, rail and power. Fully operational office d fi ld t i land field teams in place

• Management team and Board with extensive experience operating in the DRC and well known for discovering and monetizing large deposits


• Excellent in country contacts working towards securing further high quality assets

Capital Structure

Issued (in millions)

Revenue if Exercised

Shares 96.8

Options 4 1 $0 69M

Financials & Cash Flow Amount CAN $

Cash at Bank $1.25 million

Total Monthly Burn Rate $75,000

5

Options 4.1 $0.69M

Warrants 13.2 $2.92M

Total 17.3 $3.61M

y

Immediate Drilling costs $0

Project Generation Reserve $150,000

Management & DirectorsNigel Ferguson – President & CEO• +25 yrs. experience as a resource and development geologist focused on base and precious metals. Has operated in Saudi

Arabia, Australia, SE Asia, Central and South America and Africa; Over 17 years corporate experience at a senior level including Project Manager for the Paulsens Project and Country Manager for Tanzania with Ashanti and CEO for Condor Resources plc.Resources plc.

Carl Verley – Director• A Geologist with +30 yrs. Experience; has served on the board of several listed companies including Mountain Province

Diamonds, Alphamin Resources and Gee-Ten Ventures

Michael Velletta DirectorMichael Velletta– Director• A practising lawyer with over 20 years experience in corporate and commercial matters, with a focus on international

minerals, oil and gas exploration, development, and production. Mr. Velletta is a member of the Association of International Petroleum Negotiators and is a governor of the Trial Lawyers Association of British Columbia.

Simeon Tshisingama– DirectorThe Chairman and CEO of TSM Enterprises Sprl a rep table Congolese compan ith ast e perience in small scale mining• The Chairman and CEO of TSM Enterprises Sprl, a reputable Congolese company with vast experience in small-scale mining operations in the DRC with a focus in base metals, notably copper, cobalt and tin. Mr Tshisangama has developed business relations with large international companies, such as Vale and BHP.

Ronald “Jono” Lawrence – VP Exploration & Country Manager DRC• Geologist with +19 years experience in managing geological programs in Australia, Asia, Africa and Central America

i l di l i d d l f ld d b l i i h i lincluding exploration and development of copper, gold and base metal assets. +7 years in senior technical management positions for Pan Aust Ltd; AGRC (Vedanta); Condor Resources Plc and Medusa Mining Ltd.

Sheryl Jones – CFO• +15 years as an accountant for TSXV listed companies.


James Harris – Corporate Secretary• Corporate, securities and business lawyer with +25 years experience

Luisha South Project

LOCATION & GEOLOGY

Mineralization

PROJECT RESOURCE

Hard Rock Stockpile

EXPLORATION POTENTIAL


Luisha South – Location & Geology


Luisha South – ResourceRegional Mines and Resourcesg

Mine Company ResourceCategory

Tonnes(000’s)

GradeCu %(Total)

Cu MetalTonnes

GradeCo %

Co MetalTonnes

Luisha Sth African Metals Inferred 5,800 1.3 75,400 0.4 23,200

Kipoi Tiger Resources M and I 23,460 2.28 535,000 0.09 22,000

Kinsevere Anvil Mining M and I 25,700 3.8 976,600 - -

“ “ Inferred 14,200 3.6 511,200 - -

Luishwishi George Forrest ? 7,466 2.9 216,500 1.1 82,000

Kipushi America Mineral M and I 16,900 2.3 388,700 - -

Etoile Chemaf P and P 14,698 3.63 533,500 0.63 92,500

Ruashi Metorex M and I 20,800 2.9 603,200 0.34 70,700

Musonoi Metorex M and I 19,100 2.9 553,900 0.89 169,900

Tengke FCM L di P d P 135 000 3 1 4 185 000 0 3 405 000Tengke FCM, Lundin P and P 135,000 3.1 4,185,000 0.3 405,000

Dikulushi Mawson West M and I 751 7.17 53,800 - -

“ “ Inferred 361 7.11 25,700 - -

“ “ M (Stockpile) 715 1 5 11 800 - -


• M and I (Measured and Indicated); P and P (Proven and Probable)

M (Stockpile) 715 1.5 11,800 - -

Luisha South – Location & Geology

• Project located 80 km northwest of Lubumbashi, Katanga Province, DRC.

• Access via sealed road to within 5km of project; then via all weather gravel road; p j ; g ;Regional 120KV power lines and regional train line transect the Licence;

• Highly prospective R2, R3 and R4 lithology's (Roan Group) – host to copper mineralization regionally - have been identified on the property. g y p p y

• Previous open pit copper production (1940’s) of 230,000 tonnes @ 10.1% Cu and 2% Co; dormant bar some minor artisanal mining since then to the present.


Luisha South – PEPM 4881


Luisha South – PEPM 4881Open Pit (Looking Southeast)p ( g )


Luisha South – Regional GeologyInterpreted Geology and Geochemical Anomaliesp gy


Luisha South – Mineralization

• Classified as a Stratiform Cu-Co deposit

• a mixture of syngenetic to diagetic sulphide origins with epigenetic overprinting

• Mineralization is transitional and sulphide– mixed Malachite (Cu) and Heterogenite (Co) (Oxides, higher grade) – 20%;( ) g ( ) ( g g )– And Chalcopyrite, Bornite (Cu) and Carrolite (Co) (Sulphides, lower grade) – 80%

• Mineralized horizons (Similar to Kipoi Central)– Third Orebody (stromatolitic units in CMN (Kambove Dolomite) - R2.3y ( ( )– Upper Orebody (SDB and BOMZ (Black Ore Mineralized Zone) – R2.2– Lower Orebody (RSC, RSF, Dstrat, Grey RAT – R2.1

• AFR sampling of pit material reported up to 18% Cu and 9% Co in oxide materialg


MineralizationEarly/Diagenetic and Later Epigentic Cu and Coy g p g

15

MINERALIZATIONstratigraphic Positions of Regional Mineralizationstratigraphic Positions of Regional Mineralization



LOCATION & GEOLOGY

MINERALIZATION

PROJECT RESOURCE

HARD ROCK STOCKPILE



Luisha South – ResourceHard Rock

• Completed 2002m of RC drilling (June 2010) and 1539m of Diamond drilling (January 2011) on the Luisha South Pit area and environs)

• JORC / NI43-101F Compliant Inferred Resource of 75,400t Cu and 23,200t Co based on RC Drilling of the hard rock pit area

• Resource upgrade based on results of DD drilling pending, expected July 2011; management targeting a 20% increase in hard rock resource.


Luisha South Resource - HardrockDrill Hole Locations and Section Lines


Luisha South Resource - HardrockGrades around NE Fault


Luisha South Resource - HardrockMineralization 100m beyond Pity


Luisha South – ResourceStockpilep

• AFR completed 42 vertical Reverse Circulation (RC) holes for 383m drilling

• JORC / NI43-101F Compliant Inferred Resource of 3,700 t Copper and 1,700 t Cobalt based on RC Drilling

• 200 tonne bulk test through Dense Media Separator (DMS) Plant producingg p ( ) p g

– DMS concentrate grading approximately 32% copper, 1.2% cobalt; – Spirals concentrate grading approximately 28% copper and 1.6% cobalt

• Results highlight economic potential of stockpile through gravity processing alone

• Metallurgical Tests to further define parameters of gravity processing methods are currently underway with METS / SGS in Perth, with results expected Q3/Q4 2011y y


Luisha South ResourceStockpile – Copperp pp


Luisha South ResourceStockpile - Cop


Luisha South ResourceStockpile - DMS Plant – Cu Concentratep

25


LOCATION & GEOLOGY

MINERALIZATION

PROJECT RESOURCE

HARD ROCK STOCKPILE



Luisha South – Regional Potential

• Resource upgrade based on results of DD drilling pending, expected July 2011; management targeting a 20% increase in hard rock resource.g g g

• Pit mineralization open along strike to the southeast and down dip.

• Four additional copper-in-soil anomalies within the 3.5km strike extension of Roan ppGroup sediments to the southeast of the open pit;

• Lithological trend continues a further 7km to Tiger Resources’ Kipoi deposit;

• Largest Anomaly approximately 800m x 300m in size

• Shallow RC drilling on edge of anomaly intersected 0.3% Cu, 0.08% Co, 3.5g/t Ag from surface in R4, same geological host unit as Kipoi Central. g g

• Further drilling is planned.

• Structural complexity and soil cover indicates a requirement for geophysical and


alternative geochemical techniques to be utilized

Luisha South – Regional PotentialInterpreted Geology and Geochemical Anomaliesp gy


2011 Work ProgramLuisha South Project

Q1 2011

Diamond core tails to RC holes, and scout diamond holes – completedM t ll i l t t St k il idQ 0 Metallurgical tests on Stockpile oxide ore –in progress

Q2 2011

Upgrade to Pit Maiden Resource - in progressStockpile Resource - in progressRegional mapping and sampling

Q3 2011

Regional and Luisha Pit RC and DD drillingGround magnetic and IP surveysSelective Geochemical SurveysMetallurgical results Desktop Feasibility study on Stockpile oreDesktop Feasibility study on Luisha PitPossible production from oxide stockpile

Q4 2011 Upgrade to Project Resource Estimates from regional anomaliesg

Project Generation

Q3 – Q4 2011 Review and identify Cu-Co assets in the Copper belt to add to company portfolio.


Summary

• Excellent copper/cobalt exploration asset in the Katangan Copper Belt

• Excellent project location; prospective host rocks; close proximity to high grade• Excellent project location; prospective host rocks; close proximity to high grade copper deposits including historical, current and near term producers

• Positive regional scout drill hole results from Luisha South indicate high prospectivity for further significant mineralization; follow up drilling planned for Q3 -2011

• Near term catalysts include expected upgrades to Luisha South hard rock resourceNear term catalysts include expected upgrades to Luisha South hard rock resource calculation; resource estimation on stockpile; and possible small scale production

• Metallurgical test work and desktop review for oxide concentrate production.

• Experienced management and board with a proven track record of discovering and monetizing large deposits


• Potential Cu-Co project acquisitions in Q3 2011 – projects currently under review

Contact

African Metals CorporationAfrican Metals CorporationNigel Ferguson President & CEOT: +61 (8) 9240-2836E-mail: [email protected]

Corporate OfficeSuite 205 – 16055 Fraser HighwaySurrey BC Canada V4N 0G2

AXINO AGKoenigstrasse 2670173 Stuttgart Germany

g @ p

Surrey, BC, Canada V4N 0G2T: +1 (604) 507-2181 F: +1 (604) 507-2187 Email: [email protected]

70173 Stuttgart, GermanyT: +49 (711) 2535 9230F: +49 (711) 2535 9233Email: [email protected]

www.africanmetals.com www.axino.com


Appendix

Schematic Drill Sections


South Luisha Pit Section CGrades outside of Current Resource Block Model


South Luisha Pit Section FGrades around NE Fault


South Luisha Pit Section GGrades around NE Fault; Higher Grade Core; g


South Luisha Pit Section HMineralization 50m beyond Pity


Developing in a giant copper belt

Economy & Finance

development of copper

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