Afri-Can Share Consolidation Approved by Shareholders

Afri-Can Marine Minerals Corporation ("Afri-Can" or the "Corporation") (TSX
VENTURE:AFA) announces that the proposed consolidation of its common shares has
been approved by shareholders at a Special Meeting of Shareholders held on June
1st, 2012. The consolidation was approved by 96.2% of the 52,317,299 million
shares voted. The consolidation is a condition of the $3 million financing
announced on April 12th, 2012.


The Board of Directors of the Corporation, at its discretion, has the mandate to
amend the Articles of the Corporation so that the issued and outstanding common
shares of the Corporation be consolidated on the basis of one (1)
post-Consolidation Common Share for every four (4) pre-Consolidation Common
Shares (the "Consolidation Ratio") no later than nine (9) months from the date
of the shareholders' approval.


The Consolidation will reduce the Corporation's 238,524,984 issued and
outstanding Common Shares to approximately 59,631,246 Common Shares. The number
and exercise or conversion price of outstanding stock options and warrants will
be proportionately adjusted based upon the Consolidation Ratio. The shares will
begin trading on a consolidated basis upon closing of the financing announced on
April 12th, 2012. The financing is subject to regulatory approval.


Shares outstanding: 238,524,984 

About Afri-Can Marine Minerals Corporation

Afri-Can is a Canadian company, actively involved in the acquisition,
exploration and development of major properties in Namibia. Afri-Can's creative
and scientific approach targets large marine diamond deposits in prospective
territories. 


This press release contains certain "forward-looking statements," as identified
in the Afri-Can's periodic filings with Canadian Securities Regulators that
involve a number of risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements. Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.

(TSXV:AFA)
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