Afri-Can Marine Closes Private Placement

Afri-Can Marine Minerals Corporation ("Afri-Can")  (TSX VENTURE:AFA) 
today announced that it has closed the $200,000 non-brokered private placement
(the "Offering") previously announced on June 28, 2013. 


The non-brokered private placement comprises 5,000,000 units (the "Units") of
Afri-Can, at a subscription price of $0.04 per Unit. Each Unit consists of one
(1) common share and one half (1/2) common share purchase warrant ("Warrant") of
Afri-Can. The Warrants expire in two years from the date of closing of the
private placement. Each full Warrant entitles the holder thereof to purchase one
(1) Afri-Can common share at an exercise price of $0.06 during the first year
from the date of closing of the placement and at an exercise price of $0.10 per
common share during the second year from the date of closing of the placement.
Jennings Capital Inc. has been paid a finder's fee of $3,664 and has received
91,600 compensation warrants in connection with the Non-Brokered Placement. The
Compensation Warrants have the same terms and conditions as the Warrants. Each
security issued pursuant to the placement has a mandatory four (4) months
holding period from the date of closing of the placement. 


The common share portion of the Offering has been issued pursuant to the TSX
Venture Exchange's Notice to Issuers dated April 12th, 2013, regarding the
Extension and Modification of Temporary Relief from Certain Pricing
Requirements. 


Afri-Can will use the proceeds of the Offering to maintain Afri-Can's assets,
for debt repayment and for working capital purposes. The use of proceeds will be
as follows:




--  Exploration expenditures: $ 66,000 
    
--  Professional fees: $ 55,000 
    
--  Administration and office expenses: $ 42,336 
    
--  Management salaries and fees for the next 90 days: $ 33,000 
    
--  Cash financing finder's fee: $ 3,664 



The Offering was approved by the Company's Board of Directors.

Projects development

Afri-Can's technical team is well advanced with the revision and assessment of
the extensive database and work programs planned for the Mining Leases under
option with Diamond Fields International Ltd. ("DFI"). Afri-Can's priority is to
identify the areas that could resume mining in the shortest time frame and plan
a resource development work program for the remaining parts of the DFI Mining
Leases. Some areas will need further exploration such as geophysical surveying
and sampling in order to properly define the resource and establish a definitive
mining plan. The sampling planning will also include the sampling program to be
completed on EPL 3403. 


Afri-Can is conducting negotiations and work planning with its contractor in
order to charter a mining vessel and subsequently, a sampling vessel. Complete
information will be disclosed to our investors as soon as the assessment and
planning is completed. 


About Afri-Can Marine Minerals Corporation 

Afri-Can is a Canadian company actively involved in the acquisition, exploration
and development of major mineral properties in Namibia. Afri-Can's creative and
scientific approach targets large marine diamond deposits in prospective
territories. 


This press release contains certain "forward-looking statements," as identified
in the Afri-Can's periodic filings with Canadian Securities Regulators that
involve a number of risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements. 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 release.


Shares outstanding: 91,527,864 

FOR FURTHER INFORMATION PLEASE CONTACT: 
Pierre Leveille, President & CEO
Bernard J. Tourillon, Executive V.P. and CFO
(514) 846-2133 / Toll Free North America: 1 (866) 206-7475
(514) 372-0066 (FAX)
info@afri-can.com
www.afri-can.com
(TSXV:AFA)
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