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African Energy Metals Announces Investors Relations Agreements

Marketing Announcement

African Energy Metals Inc. Suite 401, 750 West Pender Street, Vancouver, B.C., Canada, V6C 2T7 1

AFRICAN ENERGY METALS 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 I nc. 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 ca sh plus applicable taxes. The agreement is

subject to TSXV approval.

Machai is a marketing, advertising and public aware ness 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 op timization to create powerful marketing

campaigns. Machai can track, organize and execute i ts 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. (dba Capital Analytica)

In addition, the Company also announces it has engaged Triomphe Holdings Ltd. (doing business

as Capital Analytica) to provide a multifaceted pro motional enhancement service. Capital

Analytica is a Nanaimo, B.C.-based company owned by Jeffrey French.

African Energy Metals entered into a consulting agr eement with Capital Analytica dated March

14, 2023. Pursuant to the agreement, Capital Analyt ica 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.

African Energy Metals Inc. Suite 401, 750 West Pender Street, Vancouver, B.C., Canada, V6C 2T7 2

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, coba lt, 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 b usiness. 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: [email protected]

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 consi dered appropriate, that the expectations reflected in this forward-

looking information are reasonable, including the a pproval of the TSXV for the agreements, undue relia nce should not

be placed on them as the Company can give no assura nce that they will prove to be correct. The stateme nts in this press

release are made as of the date of this release. T he Company undertakes no obligation to comment on a nalyses,

expectations or statements made by third parties in respect of the Company its securities, or its fina ncial or operating

results.