Alecto Minerals Releases Final Results and Notice of AGM

Alecto Minerals plc, the AIM listed multi-commodity exploration and development company with projects in Ethiopia, Mauritania, and an option over a highly prospective bauxite asset in Guinea, announces its audited results for the year ended 31 December 2011 and gives notice of its AGM to be held at the Washington Mayfair Hotel, 5 Curzon Street, London W1J 5HE on 29 June 2012 at 11.00am. The report and accounts have today been sent to shareholders and will be available on the Company's website at www.alectominerals.com.

Highlights

• Strengthened portfolio through two gold acquisitions offering exposure to prime mineralised regions in Ethiopia.
• Planned drilling at Wayu Boda gold licence in Ethiopia for Q3 2012 to advance targets highlighted through artisanal and historical work.
• Advanced Mauritanian Iron Oxide Copper Gold (‘IOCG') licences to drill ready status to build knowledge of copper anomalies - drilling planned Q3 2012.
• Acquired option over Guinean bauxite licence 223 - potential to host a 500Mt resource with near term production potential due to quality of resource and close proximity to infrastructure.
• Raised £1.47 million and secured experienced cornerstone investor - ideally positioned to implement 2012 exploration programme.

Alecto Managing Director Damian Conboy said, "This has been a year of solid development for Alecto, during which we have increased our exposure across a range of prime and under-explored regions. We now have a prospective Iron Oxide Copper Gold and gold portfolio in known mineralised areas of Mauritania and Ethiopia, as well as an option over an exciting Guinean bauxite licence with near term production potential.