African Metals Corporation files Audited Financial Statements and MD&A for fiscal year ended

African Metals Corporation files Audited Financial Statements and MD&A for fiscal year ended May

31, 2020 and Issues Progress Report on Reporting Status

TORONTO, ON - TheNewswire - September 29, 2020 - African Metals Corporation (the "Company")

[TSXV: AFR.H [formerly AFR)] (TSXV:AFR.H) is pleased to announce that it has completed and filed on

SEDAR its audited consolidated financial statements and related MD&A for the fiscal year ended May 31,

2020. The Company is now completely up to date with its continuous disclosure obligations and has

applied to the British Columbia Securities Commission to lift the Cease Trading Order ("CTO") currently

in place. The current Board of Directors and management took on a very difficult assignment in

attempting to turn around a very financially troubled Company. We are pleased that the Company is

now back on an extremely sound foundation and, as at year end, had cash of $1,842,910 and working

capital of $1,754,316. Once our application to have the CTO lifted is determined, the Company will

consider its future course of action including reviewing its future activities on the Silver Bell -St.

Lawrence Gold Project, in the Virginia City Mining District of Montana, USA and evaluating other

potential projects.

For further information please contact:

Company Contact:

Daniel Gregory, Chief Financial Officer

Office: (416) 709-9266

E-mail: [email protected]

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policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press

release.