Statement re Non-South African Exploration Assets

African Rainbow Minerals Limited

(Incorporated in the Republic of South Africa)

(Registration number 1933/004580/06)

JSE Share code: ARI

LSE Share code: AGM

ISIN: ZAE000054045

('ARM' or the 'Company')

NOT FOR DISSEMINATION IN THE UNITED STATES OR CANADA

FILING OF PRELIMINARY PROSPECTUS FOR INITIAL PUBLIC OFFERING AND TSX LISTING OF
NON-SOUTH AFRICAN EXPLORATION ASSETS

This announcement appears as a matter of record only

African Rainbow Minerals Limited ('ARM') has announced that a preliminary
prospectus has been filed with the Ontario Securities Commission (Canada) for
the initial public offering ('IPO') of its development and exploration assets
in Namibia, Zambia and the Democratic Republic of Congo.

The non-South African assets of ARM will be transferred to TEAL Exploration &
Mining Incorporated ('TEAL'), a newly formed Canadian subsidiary of ARM. TEAL
will seek to have its securities listed on the Toronto Stock Exchange ('TSX'),
subsequent to the completion of the IPO.

ARM cautions that the IPO and TSX listing are conditional upon the approval of
various matters by regulatory authorities in Canada, including the approval by
the TSX and the acceptance of a final prospectus by the Ontario Securities
Commission.

Andre Wilkens, ARM's Chief Executive Officer, said, 'TEAL presents part of the
very exciting growth ARM will deliver through its unique positioning and
already established credibility in Africa. We will maintain a controlling
interest in TEAL post the IPO in order to fully participate in the growth
potential of this asset and to meet a condition stipulated in the exchange
control approval received from the South African Reserve Bank'.

TEAL intends to seek a secondary listing on the JSE Limited shortly after the
IPO.

The final pricing of the IPO is scheduled for late October 2005. RBC Capital
Markets is acting as sole bookrunner and as co-lead manager with Haywood
Securities.

Rick Menell will be appointed TEAL's President and Chief Executive Officer.
Menell commented, 'TEAL will have an experienced management team that is
capable of advancing each of our projects and exploration assets through
clearly defined and articulated milestones. We are excited about the potential
for short and medium-term production, assuming our exploration work and
feasibility studies prove positive.'

Wilkens added: 'Having operated in Zambia and Namibia for over a decade, TEAL
can now build on its relationships with the respective governments and service
providers'.

ARM's Chairman, Patrice Motsepe, has been appointed Chairman of TEAL. Other ARM
directors who will serve on the TEAL board are former President of Mozambique
Joaquim Chissano, Michael King, Andre Wilkens and Frank Abbott. Proceeds from
the IPO will be used to advance four mineral projects through feasibility, and
towards development, as well as exploration work to be performed on other
high-priority targets.

TEAL's assets will include four near to medium-term development projects that
it intends to progress simultaneously with the goal of achieving production in
order to generate cash flow to support exploration and further development.
Konkola North Copper Project - TEAL currently 100%

Located within the greater Konkola area of the Zambian Copperbelt, Konkola
North has an identified inferred mineral resource of 78.8 million tonnes at a
grade of 2.14% copper. This defined resource is contained within only the east
and south limb areas of the project. Historic records and more recently drilled
results relating to other areas of Konkola North indicate a further inferred
mineral resource of approximately 107 million tonnes at grades of 2.30% and 63
million tonnes at grades of 3.88% copper. At the south limb, TEAL intends to
focus initially on the development of a high-grade region of this vast deposit
by re- equipping the existing infrastructure, which includes a 423 metre
vertical shaft, two ventilation shafts and three ore haulage levels. Konkola
North is subject to a buy-in right of up to 20% (with a 5% carried interest) by
ZCCM Investment Holdings plc, a company controlled by the Zambian Government.
Mwambashi Copper Project - TEAL 70%

Mwambashi is located on the Zambian Copperbelt and is held within TEAL's
Copperbelt Joint Venture Exploration Area, a joint venture with Korea Zinc
Company, Limited. This project represents TEAL's nearest-to-production
prospect. An indicated mineral resource of approximately 8.6 million tonnes at
2.43% copper and 0.07% cobalt has been identified. TEAL is currently
undertaking a feasibility study that it expects to finalize within six months.
Following a positive outcome, TEAL could pursue open pit development with low
capital requirements due to the likely availability of nearby processing
facilities. Otjikoto Gold Project and Otavi Exploration Area - TEAL 100%
Otjikoto is located within the Otavi Exploration Area in north-central Namibia
where TEAL made a new discovery of vein-hosted gold mineralization. TEAL has
undertaken resource estimation work at Otjikoto and an inferred mineral
resource of approximately 870,000 ounces of gold has been defined to date at a
grade of 1.06g/t. TEAL's management believes the resource is open-ended and has
the potential for the delineation of further resources. TEAL hopes to expand
and upgrade the current resource base through further drilling and expects to
undertake a feasibility study within 36 months.

Kalumines Copper-Cobalt Project - TEAL 60% Situated in the Democratic Republic
of Congo, in close proximity to Lubumbashi, Kalumines is a joint venture with
La Generale des Carrieres et des Mines ('Gecamines'). The project area hosts
four near surface areas of copper mineralization that TEAL believes may be
exploitable using open-pit mining techniques. Previous owners undertook
drilling, trenching and pitting and copper and cobalt mineralization was
identified over a strike length of 3 kilometers. TEAL has agreed with Gecamines
to complete a feasibility study on the project by May 2007. Two primary areas
of interest within the Kalumines area, Lupoto and Kasonta, contain historical
inferred mineral resources of 6.7 million tonnes and 1.5 million tonnes,
respectively. Lupoto contains grades of approximately 3.13% copper, while
Kasonta is grading 5.18% copper.

ENDS

Additional ARM information may be found at www.arm.co.za

A copy of TEAL's preliminary prospectus is available at www.sedar.com but has
not yet become final for the purpose of a distribution to the public.

For further details please contact:

Pieter Rorich

Office: [phone]

Mobile: [phone]

E-mail: [e-mail]

or

Rick Menell

Office:[phone]

Mobile: [phone]

E-mail: [e-mail]

Johannesburg

22 September 2005