Poseidon

Afri-can Issues Shares

Afri-Can Marine Minerals Corp. issued 300,000 shares to Vivian Stuart-Williams for geotechnical services on the Haib copper concession in Namibia rendered since 2004.

Issue of equity

The company issued 653,750 ordinary shares on 30 July 2008 after Performance Shares converted following achievement of the Phase Two Milestone under its Executive Incentive Plan.

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