Africo Resources Ltd. announced the appointment of Larry Okada as the interim Chief Financial Officer, replacing Michael O'Brien. Mr. Okada is a Chartered Accountant in British Columbia and Alberta as well as a Certified Public Accountant in Washington State. Mr. Okada has been in public practice with Deloitte & Touche, his own firm, and PricewaterhouseCoopers LLP over the past 35 years. Mr. Okada is currently the Chief Financial Officer for BC Gold Corp., and has been involved with numerous public mining companies over the past 32 years. The Board of the Company has also appointed Chris Theodoropoulos to serve as interim Chief Executive Officer in addition to his current role as Chairman.

Africo Resources Ltd. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported loss before special items of $284,743 and loss of $158,079 compared to loss before special items of $2,757,104 and loss of $2,383,865 or $0.04 per basic and diluted share for the same period of last year. The company reported net cash used in operating activities of $248,757 compared to net cash used in operating activities of $2,538,080 for the same period of last year. For the nine months, the company reported loss before special items of $2,196,754 and loss of $2,709,396 or $0.04 per basic and diluted share compared to loss before special items of $5,655,429 and loss of $5,320,358 or $0.14 per basic and diluted share for the same period of last year. The company reported net cash used in operating activities of $4,134,391 compared to net cash used in operating activities of $5,727,441 for the same period of last year.

Africo Resources Ltd. reported consolidated earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported loss before other items of $1,012,459, net loss of $1,177,808 or $0.02 per basic and diluted share compared to the loss before other items of $1,239,767, net loss of $1,198,280 or $0.04 per basic and diluted share for the same quarter year ago. Cash used in operating activities was $1,686,160 compared to the $1,495,060 for the same quarter year ago. For the six months period, the company reported loss before other items of $1,912,011, net loss of $2,551,317 or $0.04 per basic and diluted share compared to the loss before other items of $2,898,325, net loss of $2,936,493 or $0.11 per basic and diluted share for the same period year ago. Cash used in operating activities was $3,885,634 compared to the $3,189,365 for the same period year ago.