Africo Resources Ltd.: Resource Assessment NI 43-101 Technical Report Completed on the Kalukundi Copper-Cobalt Project

VANCOUVER, 05/23/13 - Africo Resources Ltd. (TSX: ARL) ("Africo") is pleased to report that further to its news release dated April 10, 2013, AMEC E&C Services Inc. has completed the NI 43-101 Technical Report on the resource assessment on the Kalukundi copper and cobalt project located in the DRC. The NI 43-101 Technical Report has been electronically filed with regulators and is available for review at www.sedar.com.


Note for editors:

Africo Resources Ltd. is a Canadian mineral company engaged in developing, acquiring and exploring for base metal assets in Africa. The company's main project is Kalukundi, a development stage copper-cobalt deposit located in the Katangan Copperbelt in the Democratic Republic of Congo (DRC) in which Africo has a 75% interest. The development team has an operational base in the DRC, with the company corporate offices located in Vancouver, Canada.


Forward-looking statements:

This news release may contain certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that Africo expects to occur, are forward-looking statements.

Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Africo believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration success, continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Africo's management on the date the statements are made. Africo undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.



Contacts:

Africo Resources Ltd.
Chris Theodoropoulos, Chairman
604-646-3225

Africo Resources Ltd.
Larry Okada, Chief Financial Officer
604-646-3225