Communicators

New African Mining AG closed financing successfully: EUR 3.2 Mio. at EUR 0,70

18. July 2008 – Kimberly, South Africa - New African Mining AG ((NAM) (Symbol FSE: NWA.F; WKN: A0MSTM), the producing and developing diamond miner with operations in and around Kimberley, South Africa, is pleased to announce the raising of EUR 3,213,500 by the issue of 4,590,714 new bearer shares at a price of Euro 0.70 each to a UK financial institution. For every two shares so allocated, one warrant will be granted at an exercise price of Euro 1.40 per share. Such warrants will expire 12 months after the signing of the agreement. Subject to the prior, written consent of the company the warrants are transferable in whole or in part to third parties. The shares are subject to a lock-up period of 61 days from the signing of the agreement.

Following this allocation, the issue shares in NAM becomes 97,400,070. These are traded on the Frankfurt Stock Exchange (symbol NWA) where application has been made for them to be advanced to entry level”. The monies raised will be used to complete the cash purchase of the AFGEM assets and secure the acquisition of a major producing asset.

For further information please contact David Hargreaves on +44 (0) 1784 481466 or 44 (0) 788 4437468.

About New African Mining

New African Mining is in the business of mining and selling rough diamonds. The company’s focus is on developing and maintaining a regular cash flow from its two existing operations and planned acquisitions of diamond tailing dumps and old proven diamond mines.

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