AfriOre Reports Further Encouraging Drilling Results And Exercise Of Option To Acquire Initial Interest In Akanani Platinum Project, South Africa.

BRIDGETOWN, Barbados -- AfriOre Limited (TSX:AFO) ("AfriOre") -

AfriOre drilling program intersects wide zone of well mineralized Platreef in drill hole ZF4, and intersects Platreef unit in drill holes ZF2, ZF3 and MO2

AfriOre Limited (TSX:AFO) ("AfriOre") announces that it has intersected a wide zone of Platreef platinum group metal and base metal mineralization in drill hole ZF4, the second hole completed by AfriOre in its Akanani Platinum Project (the "Project") in South Africa, and that it has also successfully intersected the Platreef unit in three other drill holes, ZF2, ZF3 and MO2.

On March 22, 2005, AfriOre reported that drill holes ZF2 and ZF4 had intersected the upper part of the Platreef unit. ZF4 was subsequently drilled through the Platreef unit and into footwall basement rocks, ending at a depth of 1219 meters. These holes are part of an initial 13,000 meter drilling program (refer to Diagram) being conducted by AfriOre in the Project area in the Northern Limb of South Africa's Bushveld Complex. All holes in the current program are collared vertically, and are located in close proximity to the eastern boundary of the Project area.

The detailed analytical results for drill hole ZF4 are as follows:

Depth Interval   4E    Pt    Pd    Rh    Au    Ni    Cu
           (meters) (meters)  g/t   g/t   g/t   g/t   g/t     %     %

1,020.00 - 1,051.91   31.91  4.01  1.68  1.94  0.16  0.23  0.17  0.11
 Including
 1,026.00 - 1,030.94   4.94  5.25  2.31  2.46  0.24  0.24  0.22  0.15
 1,040.00 - 1,043.00   3.00  6.32  2.81  2.94  0.23  0.34  0.19  0.12
 1,047.00 - 1,051.91   4.91  5.25  2.31  2.47  0.24  0.23  0.22  0.15

Notes on the above table:
4E means Pt + Pd + Rh + Au Pt, Pd, Rh, Au, Ni and Cu mean platinum,
palladium, rhodium, gold, nickel and copper, respectively.
Mean grades are weighted using mass factors (intercept width x
specific gravity).

The reported interval widths are uncorrected for the dip of the Platreef, which is estimated to be approximately 45[bar] to the west in the ZF4 area. True widths, which may vary from the reported widths, will be determined when sufficient drilling has been carried out to allow detailed modeling of the mineralization.

Drill hole ZF4 was collared near the eastern boundary of the farm Zwartfontein, some 2.5 kilometers from the southeastern corner of the Project area, where drill hole ZF1 was completed (see AfriOre's press release dated March 31, 2005). ZF4 encountered norites and anorthosites of the Main Zone of the Bushveld Complex before intersecting pyroxenitic rocks of the Platreef unit from 1009 to 1193 meters and ending in footwall granitic rocks at a depth of 1219 meters.

Drill hole ZF4 was drilled in BQ core size (36mm diameter) and half-core samples were cut by means of a diamond blade saw. Geological logging, sampling and core handling procedures, were carried out under the supervision of Mr. Jonathan Woolfe (MSc Geology, Pr.Sci.Nat.), an independent consultant to AfriOre. Samples were prepared at Set Point Technology's sample preparation facility in Mokopane and analyzed for platinum, palladium, rhodium, gold, nickel, copper and cobalt by Set Point Technology laboratories in Johannesburg (ISO 17025 accredited and independent of AfriOre). Pt, Pd and Au fire assays were carried out using Pb collection/ICP; Rh fire assays used Pd collection/ICP. Nickel, copper and cobalt analyses were carried out using aqua regia digestion/ICP and reflect acid-soluble metal content. QA/QC procedures included the submission by AfriOre of systematic duplicates, blanks and standard samples within the sample batches submitted to Set Point Technology. In addition, selected pulverized sample duplicates were submitted to SGS  Lakefield Research Africa laboratories in Johannesburg (ISO 17025 accredited and independent of AfriOre) for referee analyses. The results from these control samples indicate acceptable consistency of the Set Point Technology analyses.

Drill hole ZF2 has successfully intersected the Platreef unit between down-the-hole depths of 929 and 1,152 meters and ended in basement granitic rocks at 1,166 meters. Assay results of samples from ZF2 will be released before the end of April, 2005.

Drill hole MO2 has intersected the Platreef unit between down-the-hole depths of 1433 and 1639 meters before terminating in basement granitic rocks, at a depth of 1643 meters. The analytical results of samples from MO2 will be available in May, 2005.

In addition, drill hole ZF3 has intersected the upper contact of the Platreef unit at a down-the-hole depth of 1,108 meters.

There are now 6 drill holes in total that have intersected the Platreef unit over a strike length of 6 kilometers on the Akanani property. These holes, spaced between 500 and 1500 meters apart along the eastern boundary of the Project area, comprise ZF1 (see AfriOre press release dated March 31, 2005), ZF2, ZF4, ZF3, MO2 and MO1 (see AfriOre press release dated November 18, 2004). Results to date indicate extensive strike and down-dip continuity of the Platreef unit, which is the host to platinum group metal and base metal mineralization in the Project area, from the adjoining mining lease area of Anglo American Platinum Corporation Limited. AfriOre is encouraged that the three holes drilled on the Akanani project for which assay results have to date been received, report multiple, wide zones of platinum group metal, and nickel and copper mineralization.

AfriOre's President and CEO, Mike van Aswegen is the qualified person overseeing the exploration programs.

To view the "Initial Drilling Program", please click on the following link: http://www2.ccnmatthews.com/database/fax/2000/afo1804.jpg

Exercise of Option

In its press release dated November 11, 2004, AfriOre reported that it had entered into an option agreement, exercisable within six months, to acquire up to a 74% indirect interest in Akanani Mining (Pty) Limited ("Akanani Mining"), a private South African Black Economic Empowerment company which holds the prospecting rights to the farms Moordkopje 813LR and Zwartfontein 814LR in the Bushveld Complex in South Africa, which comprise the Project, subject to compliance with the Minerals and Petroleum Resources Development Act ("MPRDA").

Following receipt of encouraging drill results from the initial drilling program, AfriOre, through its whollyowned subsidiary AfriOre Precious Metals Holdings Inc.("APMH"), has exercised its option to purchase 100% of Metals Technology Inc. ("MTI") (APMH and MTI being companies incorporated under the laws of the British Virgin Islands), which in turn has exercised its option to acquire 20% of the issued ordinary shares of Akanani Mining. The closing of these transactions is scheduled for April 21, 2005. The purchase price for the acquisition of MTI will be discharged by the issue to the beneficial shareholders of MTI of 750,000 common shares of AfriOre.

Subject to applicable South African regulatory requirements, including the provisions of the MPRDA and Competition Act, AfriOre, through MTI, has the option to acquire an additional 54% of the issued ordinary shares of Akanani Mining in three further tranches, the last tranche being exercisable upon the decision by MTI to prepare a bankable feasibility study.

AfriOre and the other shareholders of Akanani Mining intend to seek regulatory approval from the relevant authorities in South Africa to restructure their respective holdings in the Project, so as to optimize the Project's future capital-raising capacity. Pursuant thereto, upon fulfillment of certain other conditions, an additional 750,000 common shares will be issuable by AfriOre.

About AfriOre

AfriOre is engaged in the search for, and acquisition, exploration and development of gold and platinum exploration properties in Africa. It currently has gold exploration properties in South Africa, Mali, Namibia and Kenya and rights to the Akanani PGM  properties in South Africa.

The company has 34,216,549 shares outstanding; 38,471,912 shares fully diluted and cash and receivables of approx. Cdn $6.5 million.

AfriOre is listed in Standard & Poor's Corporation Records SEC 12g 3-2(b) exemption 82-4514.

This document may contain or refer to forward looking information based on current expectations. Forwardlooking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. These forward-looking statements are made as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances.

AfriOre Limited (TSX:AFO)