West African Minerals Corp (EML)

West African Minerals Corp : Acquisition of Minority Interest in Cameroon Subsidiary

West African Minerals Corporation ("WAFM" or the "Company")
Acquisition of Minority Interest in Cameroon Subsidiary West African Minerals Corporation (AIM: WAFM), the iron ore exploration company with interests in Cameroon and Sierra Leone, is pleased to announce that it has reached agreement to acquire the 5% interest (the "Minority Interest") not previously in its control in Compagnie Minière du Cameroun SA ("CMC Cameroon") (the "Acquisition"). Following completion of the Acquisition, CMC Cameroon will become an indirect wholly-owned subsidiary of the Company.
CMC Cameroon owns six exploration permits granting the exclusive rights to explore for iron ore and associated minerals in areas referred to as Djadom, Dja, Lélé, Minko, Sanaga and Binga in Cameroon covering a total area of approximately 6,000 square kilometres.
On 25 April 2012 the Company announced positive results of its recent aeromagnetic survey on the Cameroon properties and is proceeding with Phase Two of its exploration programme comprising approximately 400 fifty metre holes (20,000 metres in total) to target direct shipping ore (DSO) material overlying magnetite banded iron formation (BIF) bedrock.

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