Afri-Can and Deep South Restructure Their Agreement Over the Haib Copper Deposit in Namibia.

MONTREAL -- Afri-Can Marine Minerals Corp. ("Afri-Can") (TSX  VENTURE:AFA), is pleased to announce that it has signed an amended agreement with Deep South Mining (PTY) Ltd. ("Deep South"), regarding the Option to acquire a 70% undivided interest in the Haib Copper deposit in Namibia. The Haib Exclusive Prospecting License is located in the south of Namibia near the South African border.

The previous agreement, announced last year, contemplated completion of a revised feasibility study. The amended agreement reflects the reality of Haib's status as an advanced exploration project. During its due diligence, Afri-Can determined that the feasibility study completed by the previous owners of Haib was insufficient to support either the scale of production or financing of the type contemplated in the previous agreement. Afri-Can has discovered, however, that higher-grade sulfide and oxide portions of the Haib deposit had not been separately delineated, and that the development potential of these higher-grade portions of the deposit is substantial. The project is now being redesigned to delineate these specific portions of the deposit. Details of the exploration programme will be disclosed when the planning process has been completed.

Material terms of the amended agreement are as follows (all amounts are expressed in Canadian dollars):

- A cash payment to Deep South of $200,000 and $50,000 of Afri-Can
  shares upon signature of the amended agreement;
- A cash payment of $250,000 to Deep South upon completion of the
  Phase I drilling programmeme;
- Cash payments to Deep South of $200,000 per annum, for five years,
  with the first such payment on the one-year anniversary of the
  second $250,000 payment noted above;
- Exploration expenditures to a minimum of $3.0 million. Upon the
  satisfaction of this condition, Afri-Can will be deemed to have
  acquired an undivided interest of 55% in Haib;
- Upon completion of a positive feasibility study, Afri-Can will make
  an additional cash payment of $1 million to Deep South. Afri-Can
  will be deemed to have acquired an additional undivided interest of
  15% in Haib. The total undivided interest of Afri-Can shall then be
  70%. Funding thereafter will be on a pro-rata basis;
- Upon the commencement of mining operations, Afri-Can shall make a
  further cash payment of $1 million to Deep South;
- Afri-Can shall have a call option on 20% of Deep South's remaining
  30% interest(i.e. two-thirds of Deep South's holdings) for a cash
  payment of $2 million and a 1% net smelter royalty, such option
  being exercisable for a period of up to 36 months following
  completion of the feasibility study.

For comparison, the material terms of the original agreement were as
follows:

To acquire the Option on the Haib project, Afri-Can would have
incurred the following payments:
- A cash payment of $100,000 upon regulatory approval of the
  agreement; and
- A cash payment of $500,000 upon completion of favorable due
  diligence within 120 days of regulatory approval.

To exercise its Option, Afri-Can would have incurred the following
exploration expenses and made the following payments:

- Within 2 years following the completion of its due diligence, Afri-
  Can would have incurred expenditures to a minimum of $2 million in
  exploration activities in order to prepare an updated bankable
  feasibility study;
- No later than 30 days after completion of a bankable feasibility
  study, Afri-Can would have issued $5.5 million of its common shares
  to Deep South, at a market discount of 10%, and 2 million warrants
  exercisable at a market premium of 30%, exercisable for a period of
  3 years;
- Upon completion of production financing for the project, Afri-Can
  would have made a final cash payment of $5 million;
- Further to the acquisition of 70% by Afri-Can, Deep South would
  have had an option to sell its remaining 30% for a cash payment of
  $5 million and a 2% net smelter royalty.

The amended agreement is subject to the approval of Canadian regulatory authorities.

Pierre Leveille, President and Chief Executive Officer of Afri-Can, stated, "We are pleased with this amended agreement as it reflects better the more prospective status of the project and the project is economically more attractive."

The Haib copper deposit is an Exclusive Prospecting License (EPL  # 3140) covering 74,563 hectares and is located in the Karas region, 8 km from the Orange River in the south of Namibia. The project contains a large porphyry copper-molybdenum deposit hosted within quartz-felspar porphyry. The NI 43-101 Technical Report completed on October 22, 2004, confirms that the indicated resource in the higher grade section of the deposit totals 292 million tonnes grading 0.46% copper, equivalent to in excess of 2.9 billion pounds of copper in situ.

Afri-Can is a Canadian company, actively involved in the acquisition, exploration and development of major mineral properties in Namibia. Afri-Can's large and prospective license holdings, together with its growth strategy, place it as the partner of choice for Namibian Empowerment Groups.

The TSX Venture Exchange (TSX) does not accept responsibility for the adequacy or accuracy of this release.

This press release contains certain "forward-looking statements", as identified in Afri-Can's periodic fillings 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.

Shares outstanding: 85,215,975

AFRI-CAN MARINE MINERALS CORP. (TSX VENTURE:AFA) (FRANKFURT:AJF)