Afriore Intersects Multiple Zones Of High Grade Platinum Group Metal Mineralization At the Akanani Project, South Africa.

BRIDGETOWN, Barbados -- AfriOre Limited (TSX:AFO) ("AfriOre") is very pleased to announce that it has intersected major, wide zones of high grade platinum group metal ("PGM") mineralization within the Platreef in ZF1, the first drill hole it has completed on the Akanani Platinum Project in the Northern Limb of the Bushveld Complex. ZF1 is part of an initial 13,000 metre drilling program being conducted by AfriOre in the project area.

The results of drill hole ZF1 are as follows:

            Depth                       Interval          3PGM+Au(a)
         (metres)                       (metres)               (g/t)
--------------------------------------------------------------------

1,013.71-1,070.00                          56.29                4.11
     Including
     1,013.71-1,017.72                      4.01                6.33
     1,026.66-1,030.00                      3.34                5.20
     1,053.00-1,068.00                     15.00                8.16
            Including
            1,055.00 - 1,062.00             7.00               11.62

1,093.31-1,099.85                           6.54               19.83

1,111.72-1,122.40                          10.68                5.22
     Including
     1117.00-1122.40                        5.40                7.07

(a) 3PGM means Platinum + Palladium + Rhodium. Au means Gold.

Mean grades stated above are weighted using mass factors (intercept width x specific gravity).

The reported widths are uncorrected for the dip of the Platreef, which is approximately 45[bar] to the west in the ZF1 area. True widths, which may vary from the reported widths, will be determined when sufficient drilling has been carried out to allow detailed modelling of the mineralization.

Drill hole ZF1 was collared vertically in the southeastern part of the Akanani project area, some 800 metres from Anglo Platinum's Zwartfontein South open pit (refer to diagram in AfriOre's press release February 24, 2005). ZF1 penetrated the Bushveld Complex Main Zone-type hangingwall stratigraphy comprising norites and minor anorthosites before intersecting the Platreef unit (refer to AfriOre's press release February 24, 2005) at 1,014 metres and terminating in footwall granofels rocks at a depth of 1,289 metres. The Platreef unit in ZF1 comprises pyroxenitic and feldspathic pyroxenitic rocks containing varying concentrations of disseminated sulphides and associated PGM and base metal mineralization.

Drilling in the project area is being conducted by Rosond (Pty) Limited, a major South African drilling company with extensive experience in drilling the Platreef. The Platreef intersection zone was drilled in BQ (46mm diameter) core size and half-core samples, varying in length from 47 to 108 centimetres, were cut by means of a diamond blade saw. Geological logging, sampling and core handling procedures to ensure the integrity of samples of the Platreef unit in ZF1 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 sample preparation facility in Mokopane and assayed for platinum, palladium, rhodium and gold by Set Point Technology laboratories (ISO 17025 accredited and independent of AfriOre) in Johannesburg. Fire assays were carried out using Pb collection/ICP. SG determinations were carried out using a gas picnometer. QA/QC procedures included the submission by AfriOre of systematic duplicates, blanks and standard samples within the sample batches submitted to Set Point. Results from these control samples confirm the consistency of the ZF1 assays. More detailed statistical analysis of comparative assay results will be carried out as the drilling program progresses and a sufficient sample population becomes available.

In addition, pulverized sample duplicates were submitted to SGS Lakefield Research Africa laboratories in Johannesburg (also ISO 17025 accredited and independent of AfriOre) for referee assays, and these results also indicate acceptable consistency of PGM grades. Assay results for the nickel, copper and individual platinum group metals and gold in the mineralized zones will be reported in the next week.

Four drill rigs are currently operating over a strike distance of five kilometres on the Akanani project, which extends along strike for some nine kilometres, immediately down dip of the Platreef outcrop on Anglo Platinum's Zwartfontein and Overysel project areas. Anooraq's Drenthe project is immediately to the northeast of the Akanani project area. AfriOre's drilling program will also test the northern part of the project area, in an area where Anglo Platinum previously intersected very significant PGM grades in multiple, wide zones of Platreef mineralization in drill hole MO1 (refer to AfriOre's press release November 18, 2004). AfriOre intends commissioning additional drilling rigs to accelerate the project.

AfriOre has the right, pursuant to an option agreement, to earn up to a 74% interest in the 4,095 hectare Akanani project area, some 25 kilometres to the north of the town of Mokopane (refer to press release November 11, 2004).

Mike van Aswegen, President and CEO of AfriOre, comments: "We are delighted to have intersected such a well mineralized part of the Platreef in our first drill hole on the project. We are well aware that the project is within the higher grade section of the Platreef and that the widths and PGM grades in the Platreef may be variable, but these results exceed our expectations. To have intersected such high grades over such extensive widths is very gratifying. We certainly intend to expand our operations on this project."

Mike van Aswegen (BSc (Eng) Mining Geology, Pr.Sci.Nat.) is the qualified person overseeing the exploration programs.

About AfriOre

AfriOre is engaged in the acquisition, exploration and development of gold and platinum exploration properties in Africa. It has gold exploration properties in South Africa, Mali, Namibia and Kenya and a PGM property in South Africa and is currently acquiring additional PGM properties.

The Company has 32,472,596 share outstanding and cash and receivables of CAD$ 6.2 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. Forward-looking 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)