Mr. Stephen Barley reports

AFRICAN ENERGY METALS AMENDS PRIVATE PLACEMENT

African Energy Metals Inc. has amended the terms of its previously announced private placement.

Amended concurrent part and parcel private placement

The company previously announced its intention to complete a non-brokered concurrent part and parcel private placement of up to 10 million units at a price of 10 cents per unit for aggregate proceeds of up to $1-million. Each unit will consist of one common share of the company and one-half of one common share purchase warrant, each warrant to entitle the holder thereof to acquire one additional common share in the capital of the company at a price of 20 cents per warrant share at any time prior to 5 p.m. (Vancouver time) on the date that is 24 months following the closing date.

The financing is being amended to now contemplate the issuance up to 15 million units at a price of 10 cents per unit, for aggregate proceeds of up to $1.5-million.

The proceeds from the financing will be used for additional work programs on the company's Ninobamba advanced silver-gold project and for general working capital.

Regulatory approvals

The company has made applications to the TSX Venture Exchange and the NEX Exchange to, among other matters, approve the financing. Closing of these matters, including the financing, is subject to receipt of all necessary corporate and regulatory approvals, including approvals of the TSX-V and NEX Exchange.

About African Energy Metals Inc.

African Energy Metals 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.