African Energy Metals Provides an Update ON Lithium, TIN, Tantalum Project IN Manono DRC
African Energy Metals Inc. Suite 401, 750 West Pender Street, Vancouver, BC, Canada, V6C 2T7 1
AFRICAN ENERGY METALS PROVIDES AN UPDATE ON LITHIUM, TIN,
TANTALUM PROJECT IN MANONO DRC
Vancouver, British Columbia - (May 27, 2022) – African Energy Metals Inc. (TSXV:
CUCO; FSE: BC2; OTCQB: NDENF; WKN: A3DEJG) (“ African Energy Metals” or the
“Company ”) is pleased to provide an update on the Manono pr oject. Due diligence has
proceeded smoothly on the project with no exception s to date. The Company has an
exclusive agreement on the Manono project. The conc ession is owned 100% by a
private DRC company and controlled by reputable par ties experienced in mining in the
region. The Company does not expect to experience a ny title issues experienced by
other parties in the region relating to the involvement of quasi-governmental agencies.
The Company is commencing a Phase 1 work program co nsisting of soil and outcrop
sampling and geological mapping. A portion of the program will be to provide assays
from the pegmatite outcrops to verify the existence of lithium and to determine the grade
of the exposed lithium. This program will provide d rill targets to examine the overall
resource potential of the concession for lithium, tin, and tantalum.
About the Manono Lithium, Tin, Tantalum Project
The project is comprised of one Exploitation Permit covering approximately 30 sq kms
and is situated in Tanganyika province, Manono dist rict in the territory of Kiambi, in the
southeast of the DRC. The concession is at about 90 km Northeast of Manono in
Kiambi. It is about 440 kms aerial distance to the north of Lubumbashi. The district was
heavily mined for tin going back to the early 1900’s. Most recently AVZ Minerals Limited
(AVZ) ($2.4B market cap) made a potentially world c lass lithium rich LCT (lithium,
caesium, tantalum) discovery which is 30 kms due we st of the African Energy Metals
project. The AVZ Roche Dure Mineral Resource is rep orted at 400 million tons grading
1.65% Li2O and world class in scale. Contiguous to AVZ are the lithium prospects of
Tantalex Resources Corporation. Based on due dilig ence it has been confirmed small
scale tin production has already occurred on the co ncession. An estimated non-
compliant tin resource was reported in a news relea se issued by the Company dated
March 3, 2022.
https://www.sedar.com/GetFile.do?lang=EN&docClass=8&issuerNo=00028883&issuerT
ype=03&projectNo=03389164&docId=5213444
The closing of the transaction remains subject to r egulatory approvals including the
Toronto Stock Venture Exchange.
Qualified/competent person -- National Instrument 43-101 and JORC code
The geological information in this announcement has been reviewed by Mr. Shu Zhan,
Member and Registered Professional Geoscientist of the Australian Institute of
African Energy Metals Inc. Suite 401, 750 West Pender Street, Vancouver, BC, Canada, V6C 2T7 2
Geoscientists (AIG), a competent person (as defined in the JORC code, 2012 edition)
who is a practicing member of the Association of Pr ofessional Geologists of Ontario
(being a recognized professional organization for t he purposes of the Australian
Securities Exchange listing rules). Mr. Zhan is als o the Qualified Person as defined by
National Instrument 43-101 who has reviewed and app roved the contents of this news
release. Mr. Zhan is a Director of African Energy M etals. He has sufficient experience
that is relevant to the style of mineralization, the type of deposit under consideration and
to the activity being undertaken to qualify as a co mpetent person as defined in the
JORC code and under National Instrument 43-101.
About African Energy Metals
African Energy Metals is a natural resource company with a focus on the acquisition,
exploration, development, and operation of copper, cobalt, and lithium energy metals
projects in the DRC. The Company is implementing a carbon credit program
complementary to mining operations. The carbon cred it program will meet important
ESG requirements and present an opportunity for a s ignificant early and long-term
revenue stream. African Energy Metals has the inten tion of acquiring interests in
additional concessions or relinquishing concessions in the normal course of business.
African Energy Metals has an experienced management team located in the DRC.
For further information, please contact:
Stephen Barley, Executive Chairman
Phone: (604-834-2968)
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 info rmation” within the meaning of applicable securitie s laws.
Although the Company believes, considering the expe rience of its officers and directors, current condi tions and
expected future developments and other factors that have been considered appropriate, that the expecta tions reflected
in this forward-looking information are reasonable, undue reliance should not be placed on them as the Company can
give no assurance that they will prove to be correc t. The non-compliant resource estimate referred to in this statement
are based on the best available information however are non-compliant and actual results may vary sign ificantly from
the current estimates. There is no assurance the Co mpany will complete positive due diligence or enter into definitive
agreements in the timelines set out in this stateme nt. The statements in this press release are made as of the date of this
release. The Company undertakes no obligation to c omment on analyses, expectations or statements made by third
parties in respect of the Company its securities, o r its financial or operating results.