West African Minerals Corp : Issue of equity

Issue of equity

The Board of West African Minerals Corporation announces that it has issued and allotted 95,500 new ordinary shares of no par value, pursuant to the exercise of 95,500 options at an exercise price of 13.62p each. The new shares will rank pari passu with the existing ordinary shares. Application will be made for these new ordinary shares to be admitted to trading on AIM and admission is expected to take place on 10 January 2013. 

Following the exercise of the options, the Company's issued share capital consists of 287,990,252 ordinary shares, with voting rights. This figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Service Authority's Disclosure and Transparency Rules.

For further information:

West African Minerals Corporation	Denham Eke Chief Financial Officer Donna Yoshimatsu Investor Relations and Corporate Secretary	[phone] [phone]
Beaumont Cornish Limited (Nominated Adviser)	Roland Cornish Michael Cornish	[phone]
Investec Bank PLC (Broker)	Neil Elliot Chris Sim	[phone]
GTH Communications	Toby Hall Suzanne Johnson Walsh	[phone]

About West African Minerals Corporation

West African Minerals Corporation (AIM: WAFM) is an iron ore mining and exploration group focused on West Africa with interests in iron ore exploration licences in Cameroon and Sierra Leone.www.westafricanminerals.com.