AFCAN Mining Corporation: Results for the Period Ended March 31, 2005.

MONTREAL -- AFCAN Mining Corporation (TSK:AFK) - All amounts are expressed in US dollars.

AFCAN is pleased to announce its results for the period ended March 31, 2005:

Highlights

- The Qinlongtan Mining Licence granted in China.
- Purchase of a second-hand SAG Mill for the TJS Project in China.
- Completion of the Feasibility Study on the TJS Project.
- Commencement of the 2005 Exploration Programme at Tanjianshan
  in China.

Financial results

The following is a brief summary of Afcan's financial results for the three-month period ended March 31, 2005. Complete details of these financial statements and the accompanying MD&A are available on the Afcan web site at www.afcan-mining.com as well as on SEDAR at www.sedar.com.

For the period ended March 31, 2005, the net loss is $903,900 ($0.01 per share). Cash used for operating activities and investing activities, mostly on mining assets, amounted to $1,049,030 and $1,611,210 respectively. Exercise of warrants and options generated $1,523,082 and reimbursement of long-term debt used cash for $125,785. Afcan Mining Corporation remained highly liquid with cash and cash equivalents of $8,832,369 as at March 31, 2005.

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 Project and detailed design has commenced.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)