East Africa Metals Announces Engage ment of Marketing Firm BullVestor Medien GmBH and Extension of Non - Brokered Private Placement
777 Dunsmuir Street, 17th Floor
PO Box 48658, Station Bentall Centre
Vancouver, BC, Canada V7X 1A3
Tel: 604.488.0822
Toll Free: 866.488.0822
Web: www.eastafricametals.com
NEWS RELEASE
East Africa Metals Announces Engage ment of Marketing Firm
BullVestor Medien GmBH and Extension of Non - Brokered
Private Placement
Vancouver, British Columbia – April 5 , 2024 – East Africa Metals Inc. (TSX - V: EAM FSE: EA1) ("East
Africa" or the "Company") is pleased to announce that it has engaged BullVestor Medien GmBH and
its general manager Helmut Pollinger, both arm's - length parties to the Company, to provide digital
marketing services to the Company commencing on April 5 , 2024, and until exhaustion of the
budget. The services will include the creation of content, strategic planning, digital advertisement
placement, and overseeing progress and results of digital campaigns. In consideration for provi ding
the services, the Company has budgeted a total of CA D $45,000 and advanced the payment in full.
BullVestor, located in Austria, is a communications agency focused on investors and potential
investors in Europe.
Consideration offered to BullVestor does not include any securities of the C ompany. Aside from this
engagement, the Company does not have any relationship with BullVestor or Mr. Pollinger. Mr.
Pollinger owns 1,480,000 shares of East Africa, purchased more than 24 months ago, and Mr.
Pollinger holds 200,000 stock options of the Company. BullVestor and Mr. Pollinger have agree d not
to sell any securities of the Company during the promotion al campaign. The Company’s agreement
with BullVestor remains subject t o a cceptance by the TSX Venture Exchange (“TSX - V ” ) .
The Company also announces that it has received TSX - V approval to extend the closing of its non -
brokered private placement (the “Private Placement”), announced on March 4, 2024, of up to
10,000,000 units at a price of CAD$0.10 per unit for aggregate gross proceeds of CAD$1,000,000,
subject to approval of the TSX - V. Each unit is comprised of one common share and one share
purchase warrant. Each warrant entitles the holder to acquire a common share at a price of
CAD$0.20 for a period of up to three years. The net proceeds will be used by the Company for
general corporate and working capital purposes. All securities issued will be subject to a four - month
hold period from the date of issuance. The Private Placement is expected to close on or around May
6, 2024, or such earlier date as may be determined by the directors of the Company. The Company
will provide updates respecting the Private Placement as warranted.
Additional information about East Africa can be viewed at the Company's website at
www.eastafricametals.com or at www.sedarplus.ca .
For further information contact:
Nick Watters, Business Development
Telephone : +1 (604) 488 - 0822
Website : www.eastafricametals.com
About East Africa Metals
The Company's principal assets include a 30% Net Profits Interest in the Mato Bula and Da Tambuk mines
(collectively "Adyabo Property") and a 70% project interest in the Harvest polymetallic VMS Exploration
Project in the Tigray Region of Ethiopia . In addition, the Company has a 30% Net Streaming Interest in the
Magambazi Mine in the Tanga Region of Tanzania.
EAM has invested US$66.8M in African exploration since 2005 and identified a total of 2.8 million ounces of
gold and gold - equivalent resources representing an average discovery cost per ounce of US$24 .
More information on the Company can be viewed at the Company's website: www.eastafricametals.com
On behalf of the Board of Directors:
Andrew Lee Smith, CEO, P.Geo., ICD.D
Cautionary Statement Regarding Forward - Looking Information
This news release contains "forward - looking information" within the meaning of applicable Canadian securities
legislation. Generally, forward - looking information can be identified by the use of forward - looking terminology such as
"anticipate", "believe", "plan", "expect", "intend", "estimate", "forecast", "project", "budget", "schedule", "may", "will",
"could", "might", "should", "indicate" or variations of such words or similar words or express ions. Forward - looking
information is based on reasonable assumptions that have been made by East Africa as at the date of such information
and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level o f
activity, performance or achievements of East Africa to be materially different from those expressed or implied by such
forward - looking information, including but not limited to: timing of receipt of mining permit; timing of mining
development; projected heap leach recoveries; early exploration; the closing of the agreement with the exploration and
development company to advance the Magambazi Project or identify any other corporate opportunities for the
Company; mineral exploration and development; meta l and mineral prices; availability of capital; accuracy of East
Africa's projections and estimates, including the initial mineral resource for the Adyabo, Harvest and Magambazi
Properties; interest and exchange rates; competition; stock price fluctuations ; availability of drilling equipment and
access; actual results of current exploration activities; government regulation; political or economic developments;
foreign taxation risks; environmental risks; insurance risks; capital expenditures; operating or t echnical difficulties in
connection with development activities; personnel relations; the speculative nature of strategic metal exploration and
development including the risks of diminishing quantities of grades of reserves; contests over title to properti es; and
changes in project parameters as plans continue to be refined, as well as those risk factors set out in in East
Africa's management's discussion and analysis for the nine months ended December 31 , 2023 and for the year ended
March 31, 2023 . Minera l Resources are not Mineral Reserves and do not have demonstrated economic viability. The
contained gold, copper and silver figures shown are in situ. No assurance can be given that the estimated quantities will
be produced. Forward - looking statements are based on assumptions management believes to be reasonable, including
but not limited to the timely closing of the financing; the ability of East Africa’s operating partner in Tanzania to
reactivate the mining operations at Magambazi or the success of East Africa to recover the Magambazi project from the
operating partner and engagement of new operating partners; the price of gold, silver, copper and zinc; the demand for
gold, silver, copper and zinc; the ability to carry on exploration and development activities; the timely receipt of any
required approvals; the ability to obtain qualified personnel, equipment and services in a timely and cost - efficient
manner; the ability to operate in a safe, efficient and effective manner; the renewal or extension of exploration Licenses;
the regulatory framework regarding environmental matters, and such other assumptions and factors as set out herein.
Although East Af rica has attempted to identify important factors that could cause actual results to differ materially from
those contained in forward - looking information, there may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such information. The Company does not update or revise
forward looking information even if new infor mation becomes available unless legislation requires the Company do so.
Accordingly, readers should not place undue reliance on forward - looking information contained herein, except in
accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.