For immediate release: 25 January 2012

WEST AFRICAN MINERALS CORPORATION ("WAFM" or "Group") Disposal of wholly owned subsidiary Ferrum Centrafrique S.A. to AXMIN Inc.

West African Minerals Corporation (AIM: WAFM), the West African focused mining investment group, today announces the disposal (the "Disposal") by Ferrum Resources Limited ("Ferrum") of its wholly owned subsidiary Ferrum Centrafrique S.A. ("Ferrum Centrafrique") to AXMIN Inc., the Canadian based gold exploration company ("AXMIN") (TSXV: AXM.V).
Ferrum Centrafrique is the Central African Republic ("CAR") registered company that has lodged exploration licence applications for iron ore over the Topa iron belt (the "Topa Applications") which are in the same areas licenced to AXMIN for gold exploration (the "Topa Project"). The Topa Applications were denied by letter dated 12 September 2011 and whilst the Group believes that the Topa Applications were validly submitted and that Ferrum Centrafique has a priority right to be granted exploration permits for Iron in the application area, it has not been successful in obtaining a revocation of that denial.

Material terms of the Disposal: