Thursday, October 30, 2014

Johannesburg, South Africa, Harare, Zimbabwe, Vienna, Austria, Toronto, Canada, Tokyo, Japan – October 30, 2014 – The Board of African Compass International Limited (“ACI” or the “Company”) is pleased to announce that ACI Canada has signed Indicative Principal Terms of Agreement (the “Terms”) with a private Canadian metals exploration and development company (the “Explorer”).

The Company and Explorer pursuant to the Terms, have entered an open exclusive relationship and agree to pursue a binding Sale and Purchase Agreement (the “Agreement”) with the principal objective of the Company acquiring the Explorer’s Mexico based mining assets (the “Assets”) rights and interests.

As a condition of the Agreement, the Company will immediately place an undisclosed sum in escrow to conduct accounting, legal and technical due diligence investigation on the Assets and has the exclusive right to acquire the Assets, subject to the successful outcome of the investigations and certain third party consents. Pursuant to the Terms, the Company may exercise its right to acquire the Assets upon completion of formal documentation to acquire the Assets of the Explorer for a confidential cash consideration.

Pursuant to the Agreement during this open exclusivity period, the Explorer, its directors, officers, employees, agents, contractors, sub-contractors, consultants, auditors, attorneys, financial advisers, and other third persons “Representatives” are prohibited from partaking in communications in regard to the Assets with any other parties.

The Assets have NI 43-101 compliant resource estimates and the goal upon acquisition close is advancing the Assets to the feasibility stage.

About ACI

African Compass International (“ACI”) is a global diversified private natural resources company in frontier, emerging/established emerging and developed markets. The Group farms, explores, sources, refines and produces, inter alia, agriculture products, base metals, ferrous & non-ferrous metals, minor metals, platinum group metals, precious metals, oil & gas and commercial energy. Our diversified operations in Africa, Americas and Eurasia are supported by offices in Austria, Canada, Japan and Zimbabwe. ACI always seeks partnerships with all its stakeholders that will add value to projects at hand based on the core values of honesty, integrity and vision.

Supporting Resources: please visit; follow @Afrikancompass on Twitter, or join ACI on LinkedIn.

For and on behalf of the Company’s Board

Julian RUPARE, Jr. CEO & Chair


The following are the main terms and abbreviations used in this webnews:

ACI                 African Compass International Limited and/or its subsidiaries, as appropriate

Board            Board of Directors

CEO               Chief Executive Officer

CG                  Chief Geologist

CLO              Chief Legal Officer

Company     African Compass International or African Compass International Limited

COO               Chief Operating Officer

NI                    National Instrument

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African Compass International

Johannesburg | Harare | Vienna | Toronto | Tokyo