East Africa Metals Grants Stock Options

777 Dunsmuir Street , 17 th Floor

Vancouver, BC, Canada V7X 1A3

Tel: 604.488.0822

Web: www.eastafricametals.com

MEDIA RELEASE

East Africa Metals Grants Stock Options

Vancouver, Bri tish Columbia – May 1 2 , 202 3 – East Africa Metals Inc. (TSX - V: EAM) (Frakfurt: EA1) has

granted an aggregate of 3 , 1 00,000 stock options to certain directors, officers and consultants pursuant to

the Company’s Stock Option Plan. The options have an exercise price of $0. 2 0 per share and an expiry date

of May 9 , 202 8 . The options vest immediately and are subject to the approval of the TSX Venture Exchange.

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, P.Geo., CEO

For further information contact:

Nick Watters, Business Development

Telephone +1 (604) 488 - 0822

Email [email protected]

Website www.eastafricametals.com

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.