Afri-Can Extends and Re-Prices Share Purchase Warrants

• Press Release
• Source: Afri-Can Marine Minerals Corporation
• On 3:52 pm EST, Tuesday January 6, 2009

MONTREAL, QUEBEC--(MARKET WIRE)--Jan 6, 2009 -- Afri-Can Marine Minerals (CDNX:AFA.V - News)(Frankfurt:AJF.F - News) Corporation announces that its Board of Directors, by a resolution adopted on January 5, 2009, has authorized the extension, until February 25, 2010, of the 4,509,923 share purchase warrants expiring on February 1, 2009, and of the 1,379,519 share purchase warrants expiring on June 12, 2009, as well as of the 8,818,333 share purchase warrants set to expire on August 24, 2009.

The Board of Directors also authorized that actual exercise prices of $0.18 and $0.20 thereof be re-priced at $0.15 per share.

As of today, none of these purchase warrants has been exercised.

The extensions and re-pricing are subject to the approval of regulatory authorities.

Afri-Can is a Canadian company, actively involved in the acquisition, exploration and development of major mineral properties in Namibia. Afri-Can's creative and scientific approach targets large marine diamond deposits in unexplored prospective territories.

Shares outstanding: 146,667,644

The TSX Venture Exchange (TSX-V) does not accept responsibility for the adequacy or accuracy of this release.

     Contacts:
     Afri-Can Marine Minerals Corporation
     Pierre Leveille
     President & CEO
     514-846-2133
     514-846-1435 (FAX)
      
     Afri-Can Marine Minerals Corporation
     Bernard J. Tourillon
     Executive V.P. and CFO
     514-846-2133
     514-846-1435 (FAX)
     info@afri-can.com
     http://www.afri-can.com