AFARAK UPDATES RESOURCE AND RESERVE STATEMENT F...

15:30 London, 17:30 Helsinki, 1 November 2013 - Afarak Group Plc, Stock Exchange Release

AFARAK UPDATES RESOURCE AND RESERVE STATEMENT FOR SOUTH AFRICAN ASSETS

Afarak Group Plc ("Afarak" or the "Company") (LSE: AFRK, OMX: AFAGR) is pleased to announce an updated Resources and Reserves Statement for our assets in South Africa.

Total chrome ore resources have increased significantly from 38.5 million tons to 61.3 million tons with an average chrome oxide ("Cr2O3") grade of 36.71%.The current reserves of chrome ore are 8.4 million tons with an average Cr2O3 grade of 37.54%.

Furthermore, the Company is pleased to publish for the first time a mineral resources and reserves statement for Platinum Group Metals ("PGMs 2E +Au"). Total resources of PGMs are stated as 2.67 million ounces of platinum, palladium plus gold.

Danko Koncar, CEO comments:
"The significant increase of our total resources in South Africa clearly demonstrates the quality of Afarak's South African assets. I'm also extremely pleased to announce the PGM resources for the first time. While Afarak is not currently engaged in PGM mining, this provides us additional options in the future."

The updated Resources and Reserves Statement of the Company's South African assets is attached to this release and available on the Company's website at www.afarakgroup.com.

AFARAK GROUP PLC
Danko Koncar
CEO

For additional information, please contact:

Afarak Group Plc
Danko Koncar, CEO, [phone], [e-mail]

Investec Bank Plc
Jeremy Wrathall, [phone]

Afarak Group is a chrome mining and minerals producer focused on delivering sustainable growth with a speciality alloys business in southern Europe and a ferro alloys business in southern Africa. The Company is listed on NASDAQ OMX Helsinki (AFAGR) and the Main Market of the London Stock Exchange (AFRK).
www.afarakgroup.com

Distribution:
NASDAQ OMX Helsinki
London Stock Exchange
main media
www.afarakgroup.com

RR-Statement

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Source: Afarak Group via Thomson Reuters ONE

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