Ndablama Gold Prospect

• Results from first 8 holes reported (Feb 2011) include 8m at 6.04 g/t and 16m at 2.38 g/t
• Further trench results included 79m at 2.16 g/t
• Soil sampling results have extended the gold anomaly to over 2.0km long
• Results from final 7 holes of 2,500m drill programme expected Q1 2011
• Phase two to include ground geophysics and further trenching and drilling

The Ndablama prospect is located in the northeast corner of the Company's 457km² 25 year mining licence in western Liberia and approximately 40km northeast of the Company's New Liberty Archaean age shear zone hosted gold deposit. New Liberty has a NI 43-101 compliant resource of 1.51 million ounces of gold grading 3.78 g/t (comprising 5,599,000 tonnes grading 4.17 g/t (for 751,000 ounces) in the indicated category and 7,040,000 tonnes grading 3.40 g/t (for 762,000 ounces) in the inferred category) and a recently submitted Preliminary Economic Assessment highlighted a robust, open pit gold project with a pre tax NPV of US$234 million using a US$1,100 gold price at a 10% discount rate.

Ndablama is defined by the presence of extensive artisanal gold mining activity. The largest workings have a strike length of approximately 200m and attain a width of up to 50m. Artisanal miners operate on one year surface mining permits under the Liberian mining code with the regulations ensuring that subsurface mining rights, as held by African Aura, take precedence.

Further soil sampling results at Ndablama have extended the soil anomaly from 1.2km to over 2km in a north south direction. The anomalous zone of gold enrichment is defined by values of 150 to 3,000 ppb Au and is up to 400 metres wide in the southern portion of the anomaly. The anomalous zone remains open to the North, South and East. Follow up trenching has now been undertaken over an area of 800 meters by 100 metres within the southern portion of the soil anomaly. The trenches are 2-3 metres deep and have exposed weathered and sheared ultramafic rocks which are intruded and brecciated by tourmaline granites. Trench NT17 returned 79 metres grading 2.16 g/t gold. This result has extended the bedrock mineralization a further 400 metres northwards.

The current drilling results only cover a 400m by 100m area and results for the remaining seven holes, which will extend drilling up to trench NT17, are pending. All the eight holes reported here have been drilled at a 55 degree inclination from the surface in an easterly direction.

Following completion of the reconnaissance drilling programme the Company plans to undertake further trenching to cover all of the anomalous soil area as well as a detailed ground geophysical programme involving induced polarization (IP) and magnetic methods. The objective of the combined IP and magnetic ground survey's is to outline the geometry and extent of the disseminated sulphides and the ultramafic host rock. The trenching and ground geophysical programmes will be followed by geological modelling and a more comprehensive phase of diamond drilling.

Ndablama Prospect Diamond drill hole results

Weaju Gold Prospect

The Weaju prospect, situated some 30km to the east north east of New Liberty on the same shear system, has been the focus of intermittent mining activity, by small companies and artisanal workers, over the last 50 to 60 years. Mineralisation is concentrated in shear zones, along a contact zone between granite and schist-belt lithologies.

A soil geochemical grid and geological mapping demonstrated a strike length of 1.5 km in an ENE trend with further potential. To date 400m of drilling have been completed, a total of eight diamond drill hole has confirmed the presence of a high-grade lens of gold mineralization dipping at 60° to 70° to the north. The lens has a total length of some 140m, gold occurs as free gold visible to the naked eye. The style of gold mineralisation is very similar to that at New Liberty. initial diamond drillholes intersections include:

Hole ID	From (m)	To (m)	Intersection (m)	Easting (m)	Northing (m)	Elevation (m)	Gold (g/t)
W-1	0	24	24	2925.46	2425.44	4989.38	33
W-1	48	50	22	931.68	2403.72	4962.46	3.5
W-2	8	30	22	2987.95	2441.23	4984.64	4.5
W-5	14	48	34	2956.97	2428.33	4975.52	19.9
W-7	19	23	4	2903.69	2401.92	4983.23	15.3

Intersections of greater than 1g/t Au in drill holes at Weaju (uncut)

Independent consultants A C A Howe International Limited estimate an uncut geological resource in the inferred category to a depth below surface of 100m of 662,508 tonnes at a 'bonanza' type grade of 10.9 grams per tonne, for a total estimated resource of 233,000 contained ounces of gold. Since - the calculation is based on only four intersections the resource has been classed in the inferred category using the AusIMM JORC code. Additional drilling would quickly upgrade this to an indicated resource.

Gondoja Gold Prospect

The Gondoja Hills area, 10km north east of Weaju, is historically one of the most productive gold districts in western Liberia. In the north-east of the area, 2.5 kilometres from the village of Gondoja, Sam Davis Creek placer workings target fragments of large quartz veins which also contain base metal sulphides. USGS geologists in the period 1949-1950, reported that the veins outcropped above the creek and the superficial deposits around the outcrop had been worked.

The gold and sulphide mineralisation is hosted within a strong shear structure approximately 50m wide, associated with a suite of talc schists and intrusive granitic dykes. The exposure in the largest of the artisanal pits has yielded a value of 6m @10.1 g/t. Soil geochemistry has demonstrated a coincident anomaly over a strike length of 500 metres.

A total of five diamond drill holes have now been completed at Gondoja,. Hole GD-4, which returned the best intersection of 30m @ 3.9 g/t gold, was drilled at minus 75 degrees beneath the main artisanal pit. The higher grade sub-section in hole GD-4, i.e. 12m @ 7.0 g/t gold, compares well with the 6m @ 10.1 g/t obtained from a channel sample in artisanal surface workings. The zone is open to the west and at depth.

Cameroon

Ntem Gold Prospect

The Ntem licence in located in south west Cameroon. The licence covers and area of 987km² with hilly rain forested terrane an average elevation of 200 m. The climate is tropical with a rainy season from August to October. Access is via tarred and laterite roads.

The Bureau de Recherches Géologiques et Minières (BRGM) mapped the area and in the 1990s commissioned an airborne survey which covers the south east part of the licence area. African Aura commenced exploration in June 2007 targeting shear zone and banded iron formation (BIF) hosted gold within the Archaean age Ntem complex. Sixteen of seventeen first phase pan concentrate samples yielded visible gold from three areas on the licence. Alluvial artisanal mining is ongoing at the villages of Abiete and Assoke.

The latest assay results from the extended soil sampling at Ntem reveal a 3km long, NE striking soil anomaly defined by a >35ppb gold in soil contour. The soil programme comprised 900 samples collected at 50m intervals along 100m spaced lines across an area selected on the basis of the Company's drainage sampling programme. The zones, which remain open along strike, are considered to be the source of alluvial gold being worked by artisans in the principal drainages.