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23 August 2013

TSX-V: AFF

AIM: AFF

Afferro Mining Inc. announces date of the Special Meeting and Posting of Management Information Circular

Afferro Mining Inc. (�Afferro� or the �Company�) announces that a special meeting (the �Meeting�) of shareholders and optionholders of Afferro (collectively, �Securityholders�) to consider the previously announced proposed acquisition by International Mining & Infrastructure Corporation Plc (�IMIC�) of 100% of the issued and outstanding share capital of Afferro pursuant to a Canadian court approved plan of arrangement (the �Arrangement�) will be held on 16 September 2013 at 10:30 a.m. Pacific Day Time at the offices of Blake, Cassels & Graydon LLP, 595 Burrard Street, Suite 2600, Three Bentall Centre, Vancouver, BC V7X 1L3, Canada.

Only Securityholders of record as of the close of business on 16 August 2013 are entitled to receive notice of and to attend, and to vote at, the Meeting or any adjournments or postponements thereof. The notice of Meeting and management information circular have been sent by post to each such Securityholder. A copy of these materials is also available under the Company�s profile on www.sedar.com and on the Company�s website at: www.afferro-mining.com.

Proxies are being solicited by the management of the Company and should be completed in accordance with the instructions set out therein and delivered to Computershare Investor Services Inc. in the manner set out in such proxy on or before 10.30 a.m. (Vancouver time), 12 September 2013. Holders of the Company�s depositary interests who wish to cast their votes with respect to the Meeting should follow the explanatory notes set out in the Form of Instruction.

In addition to Securityholders� approval, the Arrangement is subject inter alia to final court approval, approval by IMIC shareholders and the satisfaction or waiver of the conditions to closing, including receipt of all necessary regulatory approvals. Should the Arrangement be completed, Afferro will be de-listed from the TSX Venture Exchange and admission to trading of its securities from the AIM market of the London Stock Exchange will be cancelled, and Afferro will become an indirect wholly-owned subsidiary of IMIC. The proposed Arrangement is currently anticipated to close in September 2013.

Contact Information

Afferro Mining Inc.

Luis da Silva / Jeremy Cave

Tel: +44 (0) 20 7010 7680

Canaccord Genuity Limited

Financial Adviser

Melissa So / Joe Weaving

Tel: +44 (0)20 7523 8000

Investec

Nominated Advisor and Corporate Broker

Chris Sim / Jeremy Ellis / George Price

Tel: +44 (0) 207 597 5970

RBC Capital Markets
Joint Broker

Martin Eales / Richard Hughes

Tel: +44 (0) 20 7653 4000

Pelham Bell Pottinger

Daniel Th�le / James MacFarlane

Tel: +44 (0) 20 7861 3232

About Afferro Mining Inc.

Afferro is an established exploration and development company listed on the TSX-V (AFF) and AIM (AFF). Afferro's portfolio includes the 100% owned Nkout, Ntem and Akonolinga iron ore projects. It also holds a 70% interest in the Ngoa project, an exploration target bordering Nkout. All projects are subject to government rights. Nkout has a National Instrument 43-101 ("NI 43-101") compliant Indicated Mineral Resource Estimate of 1.6Bt at 33.3% Fe and an Inferred Mineral Resource Estimate of 0.9Bt at 30.8% Fe. In addition Nkout has a NI 43-101 compliant Preliminary Economic Assessment ("PEA") which indicates that the project is economically viable. Ntem comprises a NI 43-101 compliant Indicated Mineral Resource Estimate of 39.1Mt at 34.0% Fe and an Inferred Mineral Resource Estimate of 76.4Mt at 34.2% Fe.

Qualified Person

Howard Baker (MAusIMM(CP)) has 19 years' experience in the mining industry and 11 years' experience in the exploration, definition and mining of iron ore mineral resources. Mr Baker is a full-time employee of SRK Consulting (UK) Ltd., an independent consultancy, and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the type of activity which he is undertaking to qualify as a Qualified Person in accordance with NI 43-101 and a Competent Person as defined in the June 2009 Edition of the AIM Note for Mining and Oil & Gas Companies. Howard Baker consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears and confirms that this information is accurate and not false or misleading.

Forward Looking Statements

This announcement includes certain forward-looking statements. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various known and unknown risks and uncertainties as well as other factors. Such forward looking statements are subject to a number of risks and uncertainties that may cause actual results or events to differ materially from current expectations, including delays in obtaining or failure to obtain required regulatory approvals. 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.

Information about the risks and uncertainties of the Company's business is provided in its disclosure materials, including its Annual Information Form and the MD&A for the 12 months ended 31 December 2012, available under the Company's profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actions, events or results to differ materially from those described in forward looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained herein, speaks only as of the date hereof (unless stated otherwise) and, except as may be required by applicable law, Afferro disclaims any obligation to update or modify such forward-looking statements, either as a result of new information, future events or for any other reason.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.