Mr. Nigel Ferguson reports

AFRICAN METALS REPRICES OPTIONS

Subject to the approval of the TSX Venture Exchange and African Metals Corp.'s shareholders, an aggregate of 390,000 stock options for the purchase of an aggregate of 390,000 common shares of the company, having an exercise price of $1 per share, has been repriced to the exercise price of 20 cents per share.

As required by the policies of the exchange, the repricing of the options, which are held by insiders of the company, is subject to disinterested shareholder approval. The company will seek the required shareholder approval at its upcoming annual general and special meeting to be held on Nov. 27, 2014.

All other terms of the stock options, including the expiry term, remain the same. None of the repriced options may be exercised prior to receipt of exchange and disinterested shareholder approval.