African Energy Metals Announces Update ON Investor Relations Agreements and Resignation of an Officer

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

AFRICAN ENERGY METALS ANNOUNCES UPDATE ON INVESTOR

RELATIONS AGREEMENTS AND RESIGNATION OF AN OFFICER

Vancouver, British Columbia - (September 1, 2023) – African Energy Metals Inc. (TSXV:

CUCO; FSE: BC2; WKN: A3DEJG) (“ African Energy Metals” or the “ Company ”) announced

today that it has accepted the resignation of Murra y Flanigan as Chief Financial Officer of the

Company. The Company wishes to thank Mr. Flanigan for his service to the Company. There

were no disagreements between the Company and Mr. Flanigan regarding financial reporting.

The Company also announces that, further to its pre ss release of March 21, 2023, the Company

will not be proceeding with the Investor Relations Agreements with Machai Capital Inc. and

Triomphe Holdings Ltd. (dba Capital Analytica). No funds were paid under these agreements.

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 the DRC.

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 infor mation within the meaning of applicable securities laws. All

information and statements other than statements of current or historical facts contained in this news release are forward-

looking information.

Forward-looking statements are subject to various r isks and uncertainties concerning the specific fact ors disclosed here

and elsewhere in African Energy Metals’ periodic fi lings with Canadian securities regulators. When use d in this news

release, words such as "will", "could", "plan", "es timate", "expect", "intend", "may", "potential", "s hould," and similar

expressions, are forward- looking statements. Information provided in this document is necessarily summarized

and may not contain all available material information.

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

Forward-looking statements include those in relation to the filing of the Required Filings and the anticipated timing thereof.

Although African Energy Metals believes the expecta tions reflected in such forward-looking statements are based on

reasonable assumptions, it can’t make any assurances that its expectations will be achieved. Such assumptions may prove

incorrect. Forward looking statements are necessarily based upon a number of estimates, and assumptions (including the

receipt of regulatory approvals) that, while considered reasonable, are subject to known and unknown risks, uncertainties

and other factors which may cause the actual results and future events to differ materially from those expressed or implied

by such forward looking statements.

The forward-looking statements in this news release are made as of the date of this news release, and African Energy

Metals disclaims any intention or obligation to update or revise such information, except as required by applicable law.