OKYO.L Regulatory News (OKYO)

December 4, 2012

West African Minerals Corporation

("WAFM" or the "Company")

West African Minerals identifies three areas of enriched iron mineralization by scout drilling at Binga

near planned Kribi port

Drilling commences at Djadom South adjacent to Mbarga deposit

·; 5,581m of scout drilling in 114 reverse circulation holes completed on Binga has confirmed the geophysical interpretation and intersected zones of enriched iron mineralization;

·; Three mineralized clusters of enrichment have been defined to date, located 40km to 100km east of the planned deep water Kribi port;

·; Follow up drilling at Binga and metallurgical testing are currently being planned;

·; Scout drilling programme now underway at Djadom South adjacent to Mbarga deposit.

West African Minerals Corporation (AIM: WAFM) is pleased to announce that it has completed the first 114 reverse circulation (RC) holes (5,581m) on its 100% owned Binga exploration permit in south-western Cameroon. The drilling at Binga tested a variety of magnetic and non-magnetic geophysical anomalies over an extensive strike length of approximately 60kms. This is part of a 20,000m planned scout drilling exploration programme to test WAFM's major geophysical anomalies on the Binga, Lélé and Djadom leases.

Brad Mills, Vice Chairman of WAFM commented on these results, "We have tested approximately 15% of the total estimated strike length of the banded iron formations (BIFs) within the Binga lease. This preliminary test has validated our geophysical model and encountered encouraging iron enrichment in a number of areas. With enrichment grades as high as 50% Fe over narrow intervals, we are hopeful that we will be able to identify significant quantities of enriched mineralization as our drill density increases. To date the high grade enriched areas encountered are low in aluminium, phosphorous and sulphur suggesting that the material is likely to be a commercially attractive product. The close proximity to deep water will provide for easy, low capital cost access to shipping.

"The next steps for this portion of the Cameroon project will be to conduct preliminary metallurgical studies and resource definition drilling.

"In addition, we have now progressed to scout drilling on the very large magnetic features in south-eastern Cameroon where we are hopeful to demonstrate large scale high grade iron mineralization."

The drilling at Binga has confirmed the presence of at least two separate BIFs within a larger package of metamorphic rocks. To date only about 20kms out of the estimated combined 120km strike length of these BIFs has been tested by drilling. 22 holes and 6 trenches have intersected enriched BIF or pisolitic iron enrichment in 3 clusters with values ranging from 30% to 43% Fe over 5m to 27m. Significant grades (over 35% Fe) and thicknesses are illustrated in Table 1 below. The western-most cluster of enrichment is located approximately 40km east of the planned deep water Kribi port (see WAFM's presentation and detailed tables on website). Follow up on Binga will be incorporated as part of WAFM's next phase of resource definition drilling.

With the completion of the scout drilling programme at Binga, the RC rig has been relocated to test the large geophysical anomalies identified on WAFM's Djadom and Lélé exploration permits located in the southeast of Cameroon. RC drilling and gravimetric (gravity) survey have commenced on the Djadom South targets where the Company is testing large magnetic features which are interpreted as regionally extensive BIFs similar to those hosting the neighbouring Mbarga deposit. The scout drilling programme on Djadom South will take approximately three months to complete including assay returns. If the programme encounters significant mineralization on the Djadom South target, WAFM will mobilize a second drill rig to commence early resource definition drilling. Once scout drilling on Djadom South is complete, drilling will then progress to the Djadom North and Lélé targets.

Table 1 - Significant (>35% Fe) Intercepts from Drilling at Binga*

*All drill holes are vertical reverse circulation drill holes.

TR indicates trace

All significant assay results of drill holes and trenching plus technical results and maps can be found in WAFM's most recent presentation and tables on its website (www.westafricanminerals.com).

-ends-

The technical information contained in this announcement has been reviewed by Dr Brendan Clarke, the Geological Operations Manager of The MSA Group. Dr Brendan Clarke is a Member of the Geological Society of South Africa and a Professional Natural Scientist (Pr.Sci.Nat) registered with the South African Council for Natural Scientific Professions. Dr Clarke has sufficient experience relevant to the style of mineralisation under consideration and to the activities which are being reported, to qualify as a Qualified Person for the purposes of this announcement.

For further information contact:

About West African Minerals Corporation

West African Minerals Corporation (AIM: WAFM) is an iron ore mining and exploration group focused on West Africa with interests in iron ore exploration licences in Cameroon and Sierra Leone. Through its 100 per cent owned subsidiary Compagnie Minière du Cameroun SA, WAFM owns six exploration permits in Cameroon covering a total area of approximately 6,000 square kilometres and spanning the coast to the eastern deposits. The Sierra Leone licences comprise five exploration licences with potential for enriched hematite schists typical of the Marampa Group over a total area of approximately 687 square kilometres.

Further information on the Group is available at www.westafricanminerals.com.