AfriOre Limited

Industry: Mining

Main business locations: Africa

Registered Office:
Craigmuir Chambers
P.O. Box 71
Road Town, Tortola
British Virgin Islands

Listed on: Toronto Stock Exchange
Ticker: AFO
Listed on: London Stock Exchange
Ticker: AFO

Financial highlights:
Total Assets: (2006) CAD 42,553,083
Shareholder’s equity: (2006) CAD 40,833,299
Net loss: (2006) CAD 3,511,934
(the company currently invests in exploration)

Auditors: KPMG

About the BVI company:

AfriOre Limited is a company focused on the exploration and development of platinum and gold projects generally in South Africa. The strategy of the company is defined as acquiring, prospecting and developing quality mineral projects, with the purpose to add maximum value to them.

Principal AfriOre projects include:
The Akanani Platinum Project;
Dwaalboom gold Project;
FSC exploration project;
Gold mineralization project in the Archean at Ndori/Siaya, Kenya;
High grade gold project at Banankoro, Mali; and others.

The Akanani Platinum Project, which is currently the main focus of the company, is located in the 20 kilometer long higher-grade central sector of the Platreef on the Northern Limb of the Bushveld complex. A 75% interest in Akanani Platinum Project was acquired in November 2004 by AfriOre's 100%-owned subsidiary, AfriOre Precious Metals Holdings Inc.

AfriOre Limited has representatives in most of the countries where it has operations. Technical part is managed from the company's office in Johannesburg. The administrative and investment portfolio is managed from Canada.