Drawdown of $417.7m Standard Bank Facility

9 February 2012

Drawdown of $417.7m Standard Bank Facility

African Minerals Ltd (the "Company") announces that it has closed the $417.7m financing package provided by The Standard Bank of South Africa Limited, pursuant to the Company's announcement of 31 January 2012. The $417.7m available under the new facility agreement has been completely drawn down to redeem the previous secured loan facility in full, at par.

Ends

Contacts:

African Minerals Limited +44 20 3435 7600Mike Jones

Aura Financial +44 20 7321 0000Michael Oke

Deutsche Bank +44 207 545 8000Rupert Green