Simba Mines Inc. Announces Approval of the Major Shareholders

Market Wire, November, 2006

Simba Mines, Inc. (PINKSHEETS: SBAM) announces that on November 13, 2006, the shareholders of Simba Mines Inc. representing 50.5% of all of the issued and outstanding common stock of the Company approved the proposed agreement for the exchange of the Company's Angolan copper interests for shares in Australian Forest Industries Inc. (AUFI) (which will change its name to Zebra Copper Inc.), a public company trading on the Over the Counter Bulletin Board under the symbol (OTCBB: AUFI).

Likewise the shareholders of AUFI representing 93.24% of all of the issued and outstanding common stock of AUFI have approved the proposed agreement.

AUFI is now ready to file its 14C information statement, setting out full details of the proposed reverse stock split and closing.

Outlook Going Forward

Upon final closing of both transactions, AUFI will own an 80% interest in the 3,615 square kilometer Cachoeiras de Binga property, which according to compiled reports has a measured resource of approximately 131 thousand tonnes of copper metal and an inferred copper resource of 918 thousand tonnes of copper metal.

In addition to the transactions described in this update, AUFI has announced that it will be divesting itself of its current forestry business and as noted above, plans to adopt the new name of Zebra Copper Inc., to better describe its new core business.

A major work programme is planned to commence on the site as part of a bankable feasibility study to convert the measured resource to a proven reserve status so that plant construction can commence as soon as practicable.

Forward-Looking Statements

This new release includes comments that may be deemed forward-looking within the meaning of the safe harbor provision of the U.S. Federal Securities Laws. These include, among other things, statements about expectations of future transactions or events, revenues, sales of products and performance. Forward-looking statements are subject to risk and uncertainties that may cause the company's results to differ materially from expectations. These risks include the company's ability to complete the transactions, which remains subject to a due diligence review by both parties, obtaining any regulatory approvals, having necessary financing in time to meet contractual obligations, developing appropriate strategic alliances, raising working capital, building a functional infrastructure, and other such risks as the company may identify and discuss from time to time. Accordingly, there is no certainty that the company's plans will be achieved.

Contact: Simba Mines Inc. Tel: 1-989-891-1274 www.simbamining.com Investor Relations Sky Communications Tel: 1-613-226-5211 www.skylinecommuncationsinc.com

 

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