Afri-Can Marine Minerals

Diamond Fields International Ltd. is terminating its agreement with Afri-Can Marine Mineral Corp. and will independently develop the companies' Namibian marine diamond concessions.

AMF found Afri-Can Marine's NI 43-101 technical reports non-compliant, forcing removal of mineral resource and reserve disclosures pending corrected reports.

Afri-Can Marine Minerals Corp. plans a non-brokered private placement of between $175,000 and $350,000 through unit sales at two cents each.

Afri-Can Marine Minerals completed a prefeasibility study on Mining Lease 111 off Namibia, estimating 319,000 carats of probable diamond reserves and a two-year initial mine life.

Afri-Can Marine Minerals Corp. signed a memorandum of understanding with International Mining and Dredging Holding Ltd. to develop and mine Mining Lease 111 and EPL 3403 off Namibia.

Afri-Can Marine Minerals Corp. has appointed chartered accountant Andre Thibault to its board of directors, subject to TSX Venture Exchange approval.

Afri-Can Marine's NI 43-101 report estimates 413,000 indicated and 453,000 inferred carats on Diamond Fields' Mining Lease 111 offshore Namibia.

Afri-Can Marine Minerals estimates 868,000 carats of historical diamond resources remain on Diamond Fields International's ML 111 offshore Namibia, pending an NI 43-101 report within 45 days.

Afri-Can Marine Minerals Corp. closed a previously announced $200,000 non-brokered private placement of five million units at four cents per unit.

Afri-Can Marine Minerals will close a non-brokered private placement of five million units at four cents per unit for gross proceeds of $200,000.