Editors Note: There is a map associated with this press release.

Afri-Can Marine Minerals Corporation ("Afri-Can") (TSX VENTURE:AFA) announces
that it has entered into a financing agreement ("The Agreement") with Trinity
Assets Management International Ltd. ("Trinity") of Mauritius. Trinity agrees to
subscribe in a private placement of $3 million in Afri-Can under the following
terms and conditions:




--  Trinity has agreed to subscribed to a maximum amount of $3 million by
    way of a private placement of units; 
    
--  The private placement is conditional upon a consolidation of Afri-Can's
    issued and outstanding common shares at a ratio of 4 pre-consolidation
    common shares for 1 post-consolidation common share. The share
    consolidation is conditional upon approval by Afri-Can's shareholders,
    expected within 60 days of this press release; 
    
--  The private placement will comprise a maximum of 18.75 million units of
    Afri-Can at a subscription price of $0.16 per Unit. Each Unit will
    consist of one (1) common share and one (1) common share purchase
    warrant of Afri-Can. Each full warrant will entitle the holder thereof,
    during a period of 36 months from the date of closing of the private
    placement, to purchase one (1) Afri-Can common share at an exercise
    price of $0.20 per common share. Each security issued pursuant to the
    placement will have a mandatory four (4) month hold period; 
    
--  Trinity will provide Afri-Can with an advance of $500,000 within 14 days
    of signing the Agreement. The advance will be convertible in 3.125
    million units upon closing of the private placement. These units are
    included in the 18.75 million units described above. In the event that
    the share consolidation and private placement is not completed within 3
    months from the signing of the Agreement, Afri-Can shall reimburse
    Trinity or negotiate a new agreement; 
    
--  Upon closing of the private placement, Afri-Can will seek a listing for
    its common shares on South Africa's Alternative Exchange, AltX; 
    
--  Trinity will be entitled to appoint one Director to the Board of Afri-
    Can. 



The Agreement and private placement is subject to the approval of the TSX
Venture Exchange. 


Proceeds from the private placement will be used for geophysical surveying and
sampling in anticipation of trial mining on specific areas of marine diamond
Exclusive Prospecting Licence ("EPL") 3403 in Namibia and for general operating
expenses.


The geophysical survey will start before the end of April, 2012 and we will
advise shareholders of the exact departure date in due course.


Mr. Pierre Leveille, President and CEO of Afri-Can, stated that, "The Agreement
announced today establishes several key pillars for the future growth of
Afri-Can. It enables us to proceed with development of EPL 3403 and complete the
acquisition of 100% ownership of EPL 3403. It brings strongly motivated
investors to assist with development of marine diamonds. The proposed share
consolidation will establish Afri-Can on a stronger trading, financial and
development basis."


EPL 3403 covers approximately 800 square kilometres and is adjacent to and north
of the Atlantic One Mining Lease ("ML") 47 (owned by Namdeb Diamond Corporation
(Pty) Limited, a 50:50 partnership between the Government of the Republic of
Namibia and De Beers Centenary AG), which is the largest marine diamond deposit
in the world (see attached map). ML 47 currently produces in excess of 1,100,000
carats per year.


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. 


To view the map associated with this press release, please visit the following
link: http://media3.marketwire.com/docs/Fig_Afri-Can.pdf. 


Shares outstanding: 238,524,984
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