Early Warning Press Release This press release is issued pursuant to Multilateral Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning Syst em and Related Take-Over Bid and Insider

Early Warning Press Release

This press release is issued pursuant to Multilateral Instrument 62-104 – Take-Over Bids and Issuer Bids

and National Instrument 62-103 – The Early Warning Syst em and Related Take-Over Bid and Insider

Reporting Issuers.

September 20, 2022 – Michael Townsend announces that on June 24, 2022, he acquired an aggregate of

160,000 common shares (each, a “ Share ”) of African Energy Metals Inc. (the “ Company ”) on the Toronto

Stock Exchange Venture for an aggregate purchase price of $8,000.00 (the “ Purchase ”). The Purchase was

carried out by Mr. Townsend personally, or through Cannon Bridge Capital Corp., and Altus Capital

Partners Inc., companies both owned and controlled by Mr. Townsend.

Following the Purchases, Mr. Townsend controlled an d has direction over an aggregate of 7,283,800

Shares, representing approximately 10.56% of the ou tstanding Shares of the Company on a partially

diluted basis.

Mr. Townsend acquired the Shares for investment pur poses. Mr. Townsend may from time to time

increase or decrease ownership or control of securities of the Company depending on market conditions

and/or other relevant factors.

A copy of the early warning report for the Exercise and Purchase has been filed on www.sedar.com .

For more information, or to obtain a copy of the early warning report, please contact:

Michael Townsend

E-mail: [email protected]

Phone: +1 (604) 365-9950