Mr. Stephen Barley reports

AFRICAN ENERGY METALS OBTAINS TSXV CONDITIONAL APPROVAL

African Energy Metals Inc.'s proposed reactivation from NEX to Tier 2 of the TSX Venture Exchange, in connection with the company's option agreement dated Jan. 20, 2025, with Rio Silver Inc. to acquire a 100-per-cent interest in the Ninobamba advanced silver gold project located in Peru, has been conditionally accepted by the exchange.

Final approval of the reactivation is subject to, among other things: (i) closing of the company's previously announced $1-million private placement financing; (ii) payment of the exchange's fees; and (iii) exchange acceptance of the company's National Instrument 43-101 technical report respecting the project. Concurrent with the reactivation, the company will change its name to Magma Silver Corp. and change its symbol to MAGA.

About African Energy Metals Inc.

African Energy is a natural resource company with a focus on the acquisition, exploration, development and operation of precious metal mining exploration projects. The company's primary focus will be on exploring and developing the advanced Ninobamba silver gold project in the mining-supportive country of Peru.

We seek Safe Harbor.