African Energy Announces Investors Relations Agreements

Vancouver, British Columbia – (March 21, 2023) – African Energy Metals Inc. (TSXV: CUCO; FSE: BC21; OTCQB: NDENF; WKN: A3DEJG) (“African Energy Metals” or the “Company”) announced today it has entered into two investor relations agreements to increase the Company’s market awareness.

Machai Capital Inc.

African Energy Metals has retained Machai Capital Inc. to provide digital marketing services in compliance with the policies and guidelines of the Toronto Venture Exchange and other applicable legislation. The engagement commenced on March 3, 2023 and has an initial term of six months, pursuant to which Machai will receive $75,000 in cash plus applicable taxes. The agreement is subject to TSXV approval.

Machai is a marketing, advertising and public awareness firm based in Vancouver, B.C., specializing in the mining and metals, technology, and special situation sectors. Machai assists companies in branding, content creation and data optimization to create powerful marketing campaigns. Machai can track, organize and execute its plan through search engine optimization (SEO), search engine marketing (SEM), lead generation, e-mail marketing and call centre services. Machai is the owner of The Gold Stocks publication (www.thegoldstocks.com). Suneal Sandhu is the President of Machai.

Machai is at arm’s length to African Energy Metals and has no other relationship with the Company except pursuant to the agreement.

Triomphe Holdings Ltd.

In addition, the Company also announces it has engaged Triomphe Holdings Ltd. (doing business as Capital Analytica) to provide a multifaceted promotional enhancement service. Capital Analytica is a Nanaimo, B.C.-based company owned by Jeffrey French.

African Energy Metals entered into a consulting agreement with Capital Analytica dated March 14, 2023. Pursuant to the agreement, Capital Analytica has agreed to provide services to the Company and the Company will pay Capital Analytica a fee of $60,000, upon exchange approval, for a term of three months, with an option to renew the agreement for an additional three-month term for a fee of $60,000. The services will include continuing social media consultation regarding engagement and enhancement, social sentiment reporting, social engagement reporting, discussion forum monitoring and reporting, corporate video dissemination, and other related investor relation services. The agreement is subject to TSXV approval.

Capital Analytica and African Energy Metals are not related parties and operate at arm’s-length. Neither Capital Analytica or its principals have any interest in the Company’s securities, directly or indirectly, or any right or intent to acquire such an interest.

About African Energy Metals

African Energy Metals is a natural resource company with a focus on the acquisition, exploration, development, and operation of uranium, copper, cobalt, and lithium energy metals projects in Africa. African Energy Metals has the intention of acquiring interests in additional concessions or relinquishing concessions in the normal course of business. African Energy Metals has an experienced management team located in Africa.

For further information, please contact:

Stephen Barley, Executive Chairman
Phone: (+1-604-428-7050)
Email: info@africanenergymetals.com
Website: www.africanenergymetals.com

Reader Advisory

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain “forward-looking information” within the meaning of applicable securities laws.  Although the Company believes, considering the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, including the approval of the TSXV for the agreements, undue reliance should not be placed on them as the Company can give no assurance that they will prove to be correct. The statements in this press release are made as of the date of this release.  The Company undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Company its securities, or its financial or operating results.

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