West African Minerals Corporation ("West African" or the "Company") Holding in Company

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Regulatory Story Go to market news section West African Minerals Corporation - WAFM Holding(s) in Company Released 17:04 23-Apr-2015 RNS Number : 1876L West African Minerals Corporation 23 April 2015 For immediate release West African Minerals Corporation ("West African" or the "Company") Holding in Company 23 April 2015 The Board of West African announces that on 22 April 2015 the Company received the following TR-1 notification submitted on behalf of Panetta Partners and which is set out below without amendment. For further information contact: West African Minerals Corporation Anton Mauve +44 (0) 1624 639396 Managing Director Beaumont Cornish Limited (Nominated Adviser) Roland Cornish Michael Cornish +44 (0)20 7628 3396 SP Angel Corporate Finance LLP (Broker) Ewan Leggat +44 (0) 20 3470 0500 TR-1 Submitted on behalf of Panetta Partners TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES i 1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ii WEST AFRICAN MINERALS CORPORATION 2 Reason for the notification (please tick the appropriate box or boxes): An acquisition or disposal of voting rights An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments 1 of 7 29/04/2015 12:36

An event changing the breakdown of voting rights Other (please specify): Previous notification of interest in shares made on 2 nd May 2014 contained incorrect information which Panetta has only now become aware of. Panetta has not dealt in any shares in WAFM since its most recent participation in the company's financing round which was announced on 2 nd May 2014. This TR-1 is correcting previously notified dealings. X 3. Full name of person(s) subject to the notification obligation: iii Panetta Partners Limited 4. Full name of shareholder(s) (if different from 3.): iv 5. Date of the transaction and date on which the threshold is crossed or reached: v 29 April 2014 6. Date on which issuer notified: 2 May 2014 7. Threshold(s) that is/are crossed or reached: vi, vii 14% 2 of 7 29/04/2015 12:36

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8. Notified details: A: Voting rights attached to shares viii, ix Class/type of shares if possible using the ISIN CODE Shares Situation previous to the triggering transaction Number of Shares Number of Voting Rights 37,058,775 37,058,775 Resulting situation after the triggering transaction Number of shares Number of voting rights Direct Direct xi Indirect xii % of voting rights x Direct 57,559,775 57,559,775 Nil 15.10 Nil Indirect B: Qualifying Financial Instruments Resulting situation after the triggering transaction Type of financial instrument Expiration date xiii Exercise/ Conversion Period xiv Number of voting rights that may be acquired if the instrument is exercised/ converted. % of voting rights C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi Resulting situation after the triggering transaction Type of financial instrument Exercise price Expiration date xvii Exercise/ Conversion period xviii Number of voting rights instrument refers to % of voting rights xix, xx Nominal Delta Total (A+B+C) Number of voting rights 57,559,775 15.10 Percentage of voting rights 4 of 7 29/04/2015 12:36

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9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi Proxy Voting: 10. Name of the proxy holder: 11. Number of voting rights proxy holder will cease to hold: 12. Date on which proxy holder will cease to hold voting rights: 13. Additional information: 14. Contact name: Saul Sender Mishcon de Reya 15. Contact telephone number: 02074404700 This information is provided by RNS The company news service from the London Stock Exchange END HOLUORNRVRASUAR CLOSE FINANCIAL PUBLICATIONS PROVIDED BY DIANOMI Day Trade Shares Discover the Professional Secrets of Day Trading Download Free Report Marketviews ISA Guide Where to invest your ISA in 2015 Request free guide Stock Tips Which major FTSE 100 stock is ready to push higher? Download Free Report London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply. 2014 London Stock Exchange plc. All rights reserved 6 of 7 29/04/2015 12:36

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