Extension of Guinean Option Agreement

Extension of Guinean Option Agreement

Alecto Minerals plc, the AIM listed multi-commodity exploration and development company with projects in Ethiopia and Mauritania and the right to acquire a highly prospective bauxite asset in Guinea, announces that the Option Agreement in respect of the acquisition of shares in Forward Africa Resources S.A. (‘FAR’) has been extended until 18 September 2012.  FAR holds the 711 sq km bauxite licence 223 (‘Licence 223’), which has the potential to host an in-situ bauxite resource of over 500 million tonnes, further details of which are contained in the Company’s announcement dated 23 February 2012.