Afri-Can's large southern marine diamond concession block (the Namibian Gemstones concessions) is adjacent to De Beers Marine’s rich concession areas and represents Afri-Can’s longer-term project area with the largest potential. Recent estimates place De Beers’ inferred marine diamond resources at 8 million carats. Afri-Can has a 60% interest in the Namibian Gemstones concessions totaling 22,500 square kilometers. Under an option and joint venture agreement entered with Namibian Gemstone Mining Corporation (Pty) Limited, Afri-Can has the option to acquire an additional interest of up to 20%. An initial geophysical survey covering 41% of the concession identified large areas of eroded bedrock and abundant features typical of areas where diamonds are concentrated elsewhere in the Namibian marine zone. The Company will initiate a grab sampling program followed by a detailed geophysical survey on several priority areas in order to estimate the size of the potential resource.

In a short period of time, Afri-Can has succeeded in consolidating a large and prospective offshore marine core asset in Namibia, the world's fifth largest diamond producer by value. The Company is now well positioned for an exciting period of growth and development.