March 17, 2004

News Release: AFCAN Announces 615,303 Ounces of Indicated Gold Resources in China

AFCAN is pleased to announce an updated gold resource estimate for the Tanjianshan Project in Qinghai Province, China. The majority of the previously announced resource which was in the Inferred Category has now been upgraded to the higher confidence Indicated Category. There are still 175,000 ounces in the Inferred Category.

Tanjianshan Mineral Resource Estimate

                             1 g/t Au Cut-off

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                        Indicated                  Inferred
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Deposit        Tonnes  Au (g/t) Ounces(i)  Tonnes  Au (g/t) Ounces(i)
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Jinlonggou  2,338,300    5.23  393,000  1,101,500    4.9   175,000
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Qinlongtan    772,400    7.49  186,000          -      -         -
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Totals      3,110,700    5.79  579,000  1,101,500    4.9   175,000
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                  (i) Ounces rounded to nearest '000


         Tanjianshan Mineral Resource Estimate - Heap Leach Pads
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                                     Indicated Resources
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Leach Pads
                                 Tonnes    Au (g/t)   Ounces
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Jinlonggou                      341,100      2.12     23,303
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Pubugou                          48,900      2.26      3,554
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Xijingou                         28,900      1.61      1,496
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Qinlongtan                      173,300      1.43      7,950
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Totals                          592,200      1.91     36,303
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The President/CEO, David G Netherway says: 'We are very pleased with these numbers as they have both increased the resource and increased our confidence in the resource. We have also discovered a new flat-lying zone that has the potential to increase these resources further when drilling starts again in April. At Qinlongtan within the mineralised plane, high grades occur in a well defined shoot which is open up and down plunge to the north and to the south respectively. The heap leach pads are an easily re-treatable surface resource.'

At Jinlonggou (the main prospect), the resource estimates are based on diamond core drill holes, surface trenches and underground channel sampling. Gold grades have been determined using ordinary kriging and ID2 weighting into a 3D cell model constrained by wire frames. High grade values have been cut to a range of 25 to 40 g/t based on geological knowledge. Resource tonnages and grades are reported using a 1.0 g/t cut-off.

At Qinlongtan, 26 km to the north-west of Jinlonggou, the resource estimates are based on diamond core drillholes, and surface trenches. Gold grades have been determined using ordinary kriging into a 3D cell model, constrained by wireframes. High grade values have been cut to 35g/t. Tonnages and grades are reported using a 1.0 g/t Au cut-off, to a level approximately 180m below the surface.

The heap leach pads mineral resource estimates are based on 179 drillholes drilled at a nominal spacing of 20m on 17 individual pads. Sampling was carried out at 1m intervals downhole. The full depth of the leach pad was drilled in every case and average hole depth is 5.9m. Gold grades have been interpolated, using inverse distance squared weighting into 3D cell models of individual leach pads. High grade cuts have been differentially applied to samples in each pad. Density values have been applied as pad averages. Tonnages and grades are reported without the application of a cut-off, and represent the estimated resources as at 16 March 2004. Resources are classified as Indicated according to National Instrument 43-101.

The mineral resource estimates have been prepared in accordance with the Canadian National Instrument 43-101 based on information compiled by Phil Fillis and Chris Arnold who are both Members of The Australasian Institute of Mining and Metallurgy. Both Phil Fillis and Chris Arnold have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to be Qualified Persons as defined in NI 43-101.

Most of the samples were prepared at the on-site laboratory that was constructed by SGS Laboratory Services Ltd and the pulps air-freighted to the SGS laboratory in Perth, Western Australia for assaying. The remaining samples were air-freighted un-prepared to SGS, Perth.

The continuing exploration programme is under the supervision of Phil Fillis, an independent geological expert and Qualified Person for Afcan. The full resource report will be filed on Sedar and on the company website with 30 days of this release.

AFCAN is an emerging gold producer in China and has other gold and polymetalic projects in West Africa, most of which are joint ventured.

AFCAN Mining Corporation David G Netherway President-CEO +1 (514) 744-2225 or AFCAN Mining Corporation Benoit La Salle Chairman +1 (514) 744-2225 This email address is being protected from spambots. You need JavaScript enabled to view it.

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