African Metals Announces Appointment of New CFO and Corporate Secretary and Insider Debt Settlements _________________________________________________

Trading Symbols TSXV: AFR Frankfurt: OWW

AFRICAN METALS ANNOUNCES APPOINTMENT OF NEW CFO AND CORPORATE SECRETARY AND INSIDER DEBT SETTLEMENTS

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December 1, 2015 - Vancouver, British Columbia, Canada. African Metals Corporation (the “Company”) announces that Ms. Sheryl Jones and Mr. Peter Rook-Green have resigned their respective positions as Chief Financial Officer and Corporate Secretary. Ms. Jones and Mr. Rook-Green have been associated with the Company since 2007 and have been involved in many stages of its development. The Board thanks them for their contributions and commitment over the years.

The Company is pleased to announce that it has also entered an agreement that includes shares-for-debt (the “Agreement”) to reduce an outstanding debt owed to R-G Management, a privately controlled company of Mr. Rook-Green, which mutually releases them and the Company from all further obligations. The remaining balance of debt in the amount of $20,000 (the “Debt”) owed to them has been reduced from an original amount of $110,202. This Debt shall remain unsecured, bear no interest and will be paid in four equal installments between November 30, 2015 and February 29, 2016; the last installment may also be paid in shares at the option of the Company.

The Company also announces that Gavin Cooper, C.A. has assumed the position of Chief Financial Officer (“CFO”) and Secretary of the Company. He is a senior executive and Chartered Accountant with over 35 years of experience in all aspects of financial management and administration with public and private companies operating in Canada and abroad. Mr. Cooper was a Senior Audit Manager at Ernst & Whinney in Vancouver, BC; London, UK; and Cape Town, South Africa. Mr. Cooper currently serves as adirector or CFO and corporate secretary of various TSX Venture-listed companies including Minfocus Exploration Corp., Alternative Earth Resources Inc., Desert Star Resources Ltd. and Pepcap Resources Inc.

The Company announces that it has reached a significant agreement with its largest unsecured creditor, Mr. Simeon Tshisangama and his private company TSM Enterprises Inc. (“TSM”), to settle their entire debt outstanding as of May 31, 2015 in the amount of $428,407 for shares. Mr. Tshisangama is a director of the Company, and together TSM and Mr. Tshisangama are the largest shareholders of the Company (13.8% of the outstanding shares) and are insiders of the Company.

These agreements for the issuance of the shares-for-debt will not create a new Control Person as defined under TSXV policies. Completion of the shares-for-debt transaction contemplated in these agreements remain subject to the approval of the TSX Venture Exchange.

ON BEHALF OF THE BOARD OF DIRECTORS OF AFRICAN METALS CORPORATION

Kenneth B. de Graaf President and CEO, Director

About African Metals Corporation.

African Metals Corporation [TSXV “AFR”] is a Canadian listed company focused on the discovery and development of copper and cobalt deposits in the world renowned Africa Copper Belt in the Democratic Republic of Congo (“DRC”). AFR through its 100% owned Canadian subsidiary, Chevalier Resources Inc. (“Chevalier”), holds a 75% interest in the Congolese subsidiary, Luisha Mining Enterprises Sarl (“LME”). LME holds legal title to the 16.2 sq.km. small scale mining licence, PEPM 4881, called the Luisha South Project, located in the Katanga Province of the DRC.

AFR holds an option to increase its equity interest to 90% in LME, upon a Qualified Person defining a certain minimum Indicated Resource tonnage for contained copper and cobalt. AFR must also make certain milestone payments in a mixture of cash and shares to reach the milestone of a 90% interest.

The Luisha South Project is located 75 kilometres northwest of Lubumbashi, the capital of Katanga Province. The Luisha South Project contains an approximately three kilometre strike length of Roan Group sediments which are the hosting environment for Cu-Co mineralization in the DRC and Zambia. The project includes a small historical open pit mine and an associated low grade copper and cobalt mineralized stockpile. The Luisha South ore body was explored between 1923 and 1928 and an oxide deposit extracted in the 1940’s.

The results of reverse circulation and core drilling programs at the Luisha South Project in 2010 and 2011 by AFR allowed estimation of a NI 43-101 compliant Inferred Resource of 14.7 Million tonnes at 1.1% Cu (161,700 tonnes of contained copper) and 0.3% Co (44,100 tonnes of contained cobalt) using a 0.5% Cu cut-off.

The Qualified Person who has reviewed and approved the technical content contained in this release is Dr. Gerald Harper, P.Geo.(Ont).

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

This press release includes certain forward-looking statements concerning the future performance of the Company’s business and operations as well as management’s objectives, strategies, beliefs and intentions. Forward-looking statements are often identifiable by the use of words such as “may”, “will”, “might”, “would”, “plan”, “believe”, “expect”, “anticipate”, “intend”, “estimate”, “scheduled”, “forecasts” and similar expressions or variations (including negative variations) of such words and phrases. Forward-looking statements are based on the current opinions and expectations of management, and are subject to a number of risks and uncertainties that may cause actual results, performance or achievements of the Company to be materially different from those currently anticipated by such statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, the possibility that future exploration results will not be consistent with the Company’s expectations, fluctuating commodity prices, delays in commencing the Company’s proposed drilling program, exploration costs varying significantly from estimates, the availability of financing, and other risks identified in the Company’s documents filed with the Canadian securities regulatory authorities at www.sedar.com. Any forward-looking statement speaks only of the date on which it is made, and except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement.