African Energy Metals Provides an Update ON Mali Acquisition
African Energy Metals Inc. Suite 401, 750 West Pender Street, Vancouver, B.C., Canada, V6C 2T7 1
AFRICAN ENERGY METALS PROVIDES AN UPDATE ON MALI ACQUISITION
Vancouver, British Columbia - (February 23, 2023) – 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 transformative Mali polymetallic acquisition
announced in a news release dated January 18, 2023. The proposed acquisition is of all the issued
and outstanding shares of Delta Exploration Mali SA RL from a wholly owned subsidiary of
GoviEx Uranium Inc. (TSX-V: GXU; OTCQX: GVXXF). Delta holds three exploration licenses
in Mali, West Africa totalling 225 kms² (the “ Licenses ”) known as the Falea project. The Licenses
have significant uranium, copper, and silver resources in the Indicated and Inferred categories and
remain open for expansion in most directions.1 Over 235,000 m of drilling has been completed by
previous owners and only 5% of the Licenses have been explored. Falea is in the proximity of the
B2 Gold Fekola mine and the IAM Gold Siribaya deposit.
The Company has made substantial progress on the ac quisition. The conditional approval of the
TSX Venture Exchange was received on January 31, 2023, and the Company is confident it will
be able to satisfy the TSXV’s conditions prior to the March 15, 2023 anticipated closing date. The
Company is in the process of having the 2015 NI 43- 101 Technical Report on Falea updated as
requested by the TSXV. After closing the acquisition, African Energy Metals will retain Mineral
Management Consulting SARL (“MMC”) to advise on all matters relating to operations and
compliance in Mali. MMC is in the capital city Bama ko and is owned and operated by an
experienced senior consultant with expertise in gov ernmental relations and mining license
renewals in Mali.
Mr. Stephen Barley, Executive Chairman commented: “We are pleased with our progress to date
on the Falea acquisition and will continue working towards a successful conclusion.”
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.
1 “Technical Report on the Falea Uranium, Silver and Copper Deposit, Mali, West Africa dated October 26, 2015
authored by Mark B. Mathisen, C.P.G. “
African Energy Metals Inc. Suite 401, 750 West Pender Street, Vancouver, B.C., Canada, V6C 2T7 2
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, undue reliance should not be placed on them as the Company can give no assurance
that they will prove to be correct including the closing of the acquisition and satisfying TSXV requirements. The statements
in this press release are made as of the date of th is release. The Company undertakes no obligation t o comment on
analyses, expectations or statements made by third parties in respect of the Company its securities, o r its financial or
operating results.