Mr. Michael Townsend, an investor, reports

EARLY WARNING PRESS RELEASE

This press release is issued pursuant to National Instrument 62-104, Take-Over Bids and Issuer Bids, and National Instrument 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

On Dec. 6, 2024, Michael Townsend acquired an aggregate of 1.4 million common shares of African Energy Metals Inc. from treasury for an aggregate purchase price of $70,000. The purchase was carried out by Mr. Townsend personally as to 600,000 shares and through Cannon Bridge Capital Corp., a company owned and controlled by Mr. Townsend, as to 800,000 shares.

As a result of the purchase and including 200,000 previously owned common shares of the company, Mr. Townsend owns and controls and has direction over an aggregate of 1.6 million shares, representing approximately 17.2 per cent of the outstanding shares of the company.

Mr. Townsend acquired the shares for investment purposes. Mr. Townsend may, from time to time, increase or decrease ownership or control of the securities of the company, depending on market conditions and/or other relevant factors.

A copy of the early warning report for the purchase has been filed on SEDAR+.