AFR Nuventure Resources Inc

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TSXV: AFR

Frankfurt: OWW

VANCOUVER, Aug. 29, 2011 /PRNewswire/ - African Metals Corporation ("AFR") is pleased to report updated resource estimation figures by Geosure Exploration & Mining Solutions Pty Ltd, independent geological consultants, for its Luisha South Project. The revised resource as estimated includes an Inferred 14.7 Million tonnes at 1.1% Cu for 161,700 tonnes of contained copper metal (up 114% from previous estimate) and 0.3% Co for 44,100 tonnes of contained cobalt metal (up 90% from previous estimate).

The revised resource as estimated includes:

An Inferred 14.7 Million tonnes at 1.1% Cu for 161,700 tonnes of contained copper metal and 0.3% Co for 44,100 tonnes of contained cobalt metal.

Resource modelling was also completed at various cut off grades as presented in Table One, and includes a higher grade Inferred resource of some 0.2 Million tonnes at 2.3% Cu and 0.5% Co for 4,600 tonnes of contained copper metal and 1,000 tonnes of contained cobalt metal.

Table 1: Resource modelling results based on various copper cut-off grades

(Note: Grades rounded to one decimal place).

The resources stated above are approximately double those which the company had targeted through its second round of drilling at the Luisha South Project and includes significant tonnages of lower grade material from the hanging wall mineralised zone as well as depth continuation of higher grade mineralisation from the footwall zone. The majority of the resource estimate incorporates veined and disseminated chalcopyrite and carrolite sulphide mineralization, with oxide malachite and heterogenite mineralization predominantly in the footwall zone, beneath the base of the pit, and near surface on the hanging wall.

Nigel Ferguson, CEO and President of African Metals Corp, commented:

"The Company is very pleased with this resource update, which is expected to continue to grow in the coming months. A drill rig will be mobilising to site prior to the wet season starting in November to infill and extend zones of mineralisation untested by the previous Reverse Circulation (RC) and Diamond drilling programs. Management expects further increases in the total contained metal content estimated for the Luisha South Project and conversion of resource material from Inferred to Indicated and possibly Measured resource category. Concurrently the Company will continue surface drilling to seek extensional mineralisation outside the current resource area. Mineralization remains open at depth, to the south and to the southeast."

"AFR has achieved great success in the field and with a larger resource estimate the company is hopeful that this will support commercial operations to upgrade the copper and cobalt mineralisation through a DMS concentration plant and subsequent floatation circuits. The Company is targeting concentrate production by the end of Q3, 2011."

MINERAL RESOURCE MODEL

Luisha South Diamond Drilling

Rubaco Sprl and DrillTek Sprl, drilling contractors, combined to complete a total of 1,538.73 metres of diamond core drilling from 22 holes at the Luisha South Project in January 2011. The holes targeted the down dip and southeast extensions of mineralization highlighted by the March 2010 geochemical sampling program and the June 2010 RC drilling program.

The RC drill program enabled a JORC and NI43-101F compliant resource estimation of the Luisha pit mineralization, resulting in an Inferred Resource of 5.8 million tonnes at 1.3% copper, and 0.4% cobalt for 75,400 tonnes of contained copper metal and 23,200 tonnes of contained cobalt metal (using 0.5% copper cut-off).

Mineral Resource Classification

The Luisha South Mineral Resource Estimate has been prepared by Mr. Michael Montgomery, Director of Geosure Exploration & Mining Solutions Pty Ltd.  Mr. Montgomery has sufficient experience which is relevant to the style of mineralization under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined the by NI 43-101 standards. The technical report documenting the resource estimation is currently being reviewed by AFR personnel and will be submitted to the Toronto Venture Exchange in order to meet their pre-filing guidelines for resource disclosures. An NI 43-101 compliant technical report documenting the resource estimate will be filed on SEDAR within 45 days of the date of this news release.

Bulk Density Measurements

Bulk density work was completed in two stages, bulk density determinations from RC drill chips and determinations on core from diamond drilling.  In total, 912 bulk density determinations were made, 266 from RC chips and 646 from diamond drill core. RC chip bulk densities were measured by SGS Minerals Laboratory in Kalulushi, Zambia and diamond core work was completed by AFR staff. A bulk density of 2.5 was used to complete the resource estimate based on these measurements and is considered appropriate for these type of rocks.

Mineralisation Modelling

Geosure Pty Ltd of Brisbane, Australia was contracted to undertake the resource estimations. A wireframe model of the mineralised system was based on all available information as at June 2011.

The Luisha South deposit was modelled using Surpac 6.1.4 software. A digital terrain model was supplied to Geosure for topography. Closed 'wireframe' solids were created to define geological domains. All modelling was completed in supplied WGS 84 (zone 35 south) co-ordinate system.

Variography was used to describe the spatial variability of both copper and cobalt. This variability was measured in the form of a mathematical model known as a variogram. These models were then used with a kriging algorithm to recreate the spatial continuity determined through variogram modelling. Drill data was composited to two (2) metre intervals within geological domains to standardise sample support.

A 3 dimensional block model was constructed using Surpac Mining Software. The block model was constructed with a parent cell size of 25mN by 12.5mE and 2.5mRL. These cells were further sub-blocked to 12.5mN by 6.25mE and 1.25mRL. All relevant attributes were coded into the block model.

Grade estimation was performed using ordinary kriging methodologies in Surpac Mining Software. Grade estimates were constrained to within the mineralized geological domains. Grade estimation parameters were derived from several trials and included comparing block estimates to mean composite drill grade

ON BEHALF OF THE BOARD OF DIRECTORS OF

AFRICAN METALS CORPORATION

"Nigel Ferguson"

Nigel Ferguson

President & CEO

Nigel Ferguson, AusIMM, President and CEO of the Company and a qualified person under National Instrument 43-101, has verified data disclosed in this release.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

This News Release contains forward-looking statements.  Forward-looking statements are statements which relate to future events.  These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.  While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.

Drill Hole Sampling and Assaying Procedure

The Company undertakes drilling and sampling to strict guidelines. The core was collected from the drill rig at the end of each shift, processed for RQD geotechnical logging, and digitally photographed. The drill core was predominantly NQ in size, with a small percentage of HQ core in the upper 20m of holes cored from surface in clay soils. Core was 'fitted' back together whenever possible, and geologically logged on site by the supervising project geologist. The project geologist ensured a representative cutting line was marked along the length of the core and samples highlighted at appropriate intervals. Once the sample intervals and cut lines had been clearly marked out, the start and end of each sample interval was cut orthogonal to the long axis of the core to clearly define the end of each sample interval. The core was then cut in half lengthways along the representative cut line. A stand mounted, diamond impregnated electric saw blade purchased from Johannesburg, South Africa, was used for all core cutting purposes. The left half of the core was returned to the metal core trays and retained for future reference; the right half was placed into appropriately marked and labeled plastic sample bags. Quality Control protocols enforced by the company require the collection and insertion of Certified Reference Materials (CRM's) at the rate of one CRM "blank", one field blank (sand), one CRM "copper standard" and one field duplicate sample within each sample stream of 20 samples.

Samples were delivered under security by company vehicle to SGS Minerals Laboratory in Kalulushi, Zambia for sample preparation and analysis. The laboratory maintains quality assurance protocols in line with ISO 17025, and maintains quality accreditation for commercial laboratories in line with ISO 9002. The laboratory also participates in international round robin programs organized by LQSI of the USA.

The sample preparation scheme was PRP90; drying for 4 hours at 105 degrees Celsius; crushing to 2mm with 90% passing 2mm; and pulverizing of a 1000 gram sub-split of the 2mm chips to 85% passing 75 microns. Digest was scheme DIG42S; 0.4 grams of pulverized material digested in a 4 acid mixture on a hot plate at 200 degrees Celsius for 45 minutes, with subsequent dilution back to 100ml before AAS analysis by method 'AAS42S'. Results for copper and cobalt were reported in percentages. Lower detection limits were 0.01% for both elements.

About African Metals Corporation.

African Metals Corporation [TSXV "AFR"] is a Canadian listed company focused on the discovery and development of Copper and Cobalt deposits in the highly mineralized Katanga Copper Belt of the world renowned Africa Copper Belt in the Democratic Republic of Congo ("DRC").

AFR purchased all the assets of Chevalier Resources Inc. in March 2010 including a 57% interest in the Luisha South Project contained within licence PEPM 4881, Katanga Provence, Democratic Republic of the Congo ("DRC") through subsidiaries incorporated in the DRC. In July AFR negotiated a further 18% interest in the project with the option to increase the equity interest to 90% based on results. The project is located 75 kilometres northwest of Lubumbashi, the capital of Katanga Province and consists of approximately 16.2km².

The Luisha South Project includes a small historical open pit mine and associated stockpile and is underlain by Roan Group sediments which host major Cu-Co deposits in the DRC. The Luishia South ore body was explored between 1923 and 1928 and an oxide deposit with an estimated pre-production tonnage of approximately 350,000 tonnes at 8.6% Cu was delineated (the resource estimate non-compliant in terms of NI 43-101).  The Luisha Project also covers some three kilometres of the Roan Group strike length which is favorable for Cu-Co mineralization.  AFR is currently conducting metallurgical tests on stockpile Reverse Circulation drill samples to determine characteristics and heavy media separation qualities, with the aim of commencing production of an oxide concentrate by the end of Q3 2011.

SOURCE African Metals Corporation