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Anthony Viljoen, CEO of AfriTin Mining Limited comments:

“I am delighted to report, once again, further positive increases in the Uis Tin Mine’s month-on-month plant performance as we enter the final stage of our Phase 1 Stage I production ramp-up.

“Pleasingly, the production of tin concentrate has increased to 48.2 tonnes for October 2020, which represents a 24% increase from September 2020.

“More importantly this means we remain on track to achieve nameplate production of 60 tonnes a month of tin concentrate by the end of the calendar year.

“As stated previously, once nameplate capacity is realised, the Company will progress towards Stage II, expanding its production levels even further.

“AfriTin continues to remain well-positioned to take advantage of the improving tin market fundamentals, as it looks to achieve its vision of becoming a large-scale tin producer in Namibia.”

The Company continues with the Stage I of Phase 1 production ramp-up of its pilot mining and processing facility and produced 48.2 tonnes of tin concentrate (containing 32.2 tonnes of tin metal) over the month of October, a 24% improvement on the previous month.

The production level achieved in October represents approximately 90% of the Stage I target on the basis of tin contained in concentrate. The Company is targeting the processing of 45,000 tonnes of ore per month, to produce 60 tonnes of tin concentrate (36 tonnes of tin metal) per month for Stage I of Phase 1.

The monthly production performance for 2020 is tabulated below. Tin concentrate production for the year to date totals 237 tonnes. Plant availability and utilisation have increased steadily which, combined with improved plant processing rates, yielded increased plant production.

The Company remains on track to achieve nameplate production of 60 tonnes a month of tin concentrate by the end of 2020.