Anglo Aluminum Corp. Proposes to Spin Out a New Company

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Anglo Aluminum Corp. ("Anglo") (TSX VENTURE:ALU) announces that it intends to
reorganize its business by transferring all of the issued and outstanding shares
of its wholly- owned subsidiary, Societe Guineenne de Fer et de Bauxite
("SGFB"), a company incorporated under the laws of the Republic of Guinea that
holds the Mamou-Dalaba bauxite permits, to its wholly owned subsidiary, Africa
Bauxite Corporation, with the intention of making an application for the shares
of Africa Bauxite Corporation to be listed on the TSX Venture Exchange (the
"Exchange").


At this time, Anglo has not made a formal application for the shares of Africa
Bauxite Corporation to be listed on the Exchange, and there can be no assurance
that the reorganization will be accepted by the Exchange as proposed or at all.
In addition, completion of the proposed reorganization is subject to the
approval of Anglo's shareholders and the Supreme Court of British Columbia.
Accordingly, no assurance can be given that the proposed reorganization will be
completed as envisaged, nor that Anglo will achieve its reorganization
objectives.


The Mamou-Dalaba property, owned by Anglo through SGFB, consists of 4 permits
totalling 1832 km2, situated in south-western Guinea, 100 kilometres east of the
capital, Conakry.


James T. Gillis, the President and Chief Executive Officer of Anglo, said, "The
purpose of the reorganization is to create operational efficiencies and to
increase the Anglo's financing capacity. If the proposed reorganization and
listing of Africa Bauxite Corporation on the TSX Venture Exchange is accepted by
the various regulatory bodies, we are hoping that in addition to maximizing
liquidity, it will also maximize shareholder value as it is intended that
shareholders of Anglo will also become shareholders of Africa Bauxite
Corporation. The proposed reorganization will enable Anglo to focus upon the
Koba-Koumbia bauxite project and Africa Bauxite Corporation to advance the
Mamou-Dalaba bauxite areas more efficiently."


On behalf of the Board of Directors

Anglo Aluminum Corp.

This news release contains certain statements that may be deemed
"forward-looking" statements. Forward looking statements are statements that are
not historical facts and are generally, but not always, identified by the words
"expects", "plans", "anticipates", "believes", "intends", "estimates",
"projects", "potential" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur. Although we believe the
expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future performance
and actual results may differ materially from those in forward looking
statements. Forward looking statements are based on the beliefs, estimates and
opinions of our management on the date the statements are made. Anglo Aluminum
Corp. undertakes no obligation to update these forward-looking statements in the
event that management's beliefs, estimates or opinions, or other factors, should
change, except as required by law.


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