AFCAN Mining Corporation: Final Bankable Feasibility Study Improves Return on TJS Project.

TORONTO -- AFCAN is pleased to announce that the Bankable Feasibility Study for the Tanjianshan Gold Project in China (the "TJS  Project"), that was filed on Sedar (www.sedar.com) on the 4th April, 2005, shows an improved return from the results announced in a press release filed on the 4th March, 2005.

The new results show an improvement in the return, a lowering of the cash and total costs but an increase in the capital costs. The improvements were gained by a thorough review of all the costs in the model:

Capital cost               US$50.2 million    up from US$47.7million
 - including pre
    stripping of           US$8.0 million
Production                 140,000 ounces -
                            year 1
                           155,000 ounces -
                            year 2
Total production           842,000 ounces
Processing average
 recovery                  89%
Gold price                 US$420/ounce (un-hedged)
Mine life                  8 years

Cash operating cost        US$226/ounce       down from US$233/ounce
Total operating cost       US$245/ounce       down from US$263/ounce
(including a 4.5% royalty)

Return on TJS Project (pure equity basis):
Pre-tax                    NPV (5%) $US 64.2  up from US$58.9 million
                           IRR      32%       up from 29.0%
                           Payback  2.6 years

RSG Global Pty Ltd, the independent consultants that compiled the study in conjunction with AFCAN and other consultants, have advised that the TJS Project is viable and have signed off on the ore reserves.

The President/CEO David G Netherway stated: "This is great news for the TJS Project as it is now much more robust with the new numbers. We will continue to improve these numbers as we go forward to construction. The detailed design has commenced and the SAG mill has been purchased and about to undergo refurbishment. Note also that the TJS Project will not be affected by the increase in the cost of oil, as the TJS Project will be connected to the main electricity grid in China."

For further information on the TJS Project and to consult the illustrations, tables, figures and appendices referred to in the Bankable Feasibility Study for the TJS Project, please visit the link on our website: http://www.afcan-mining.com/shareholder_news_02.html

The information in this press release is based on information compiled by John Hearne and Harry Warries who are Members of The Australasian Institute of Mining and Metallurgy.

Messrs. Hearne and Warries have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as Qualified Persons as defined in National Instrument 43-101. Messrs. Hearne and Warries consent to the inclusion in this press release of the matters based on their information in the form and context in which it appears.

AFCAN is an emerging gold producer in China and owns 85% of the TJS Project at Tanjianshan in Qinghai Province. A Bankable Feasibility Study has been completed on the TJS Project, detailed design has commenced with construction starting shortly. There are an additional 23 anomalies on the licence area of 341 km2 that are being explored. AFCAN growth is focused on exploration and development of its advanced projects.

THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

AFCAN MINING CORPORATION (TSX:AFK)