Mr. Daniel Gregory reports

LATE FILING OF FINANCIAL STATEMENTS AND MD&A

African Metals Corp.'s audited annual financial statements, management's discussion and analysis, and the related officer certifications for the financial year ended May 31, 2016, will be delayed beyond the filing deadline of Sept. 28, 2016.

The company had a sudden change in management following the resignation of three of its directors, its chief executive officer, president and chief financial officer, leaving only one director and no officers on June 23, 2016. The sole remaining director, Simeon Tshisangama, was tasked with the appointment of two additional new directors and new management. On July 20, 2016, the company announced that two new directors were appointed, as well as a new CFO. Management and officers then consisted of Mr. Tshisangama as chief executive officer and president and Daniel Gregory as chief financial officer.

During August, the new management team requested corporate documents from the previous management. Financial and other corporate records were delivered after mid-August. The delay in receiving the required information required to complete the audit process left the company with insufficient time to meet its filing obligations. Currently, the auditor is continuing the audit process and anticipates that the audit will be completed during the week of Oct. 24, 2016.

The company confirms that it intends to satisfy the provisions of the alternative information guidelines found in sections 4.3 and 4.4 of National Policy 12-203 (cease trade orders for continuous disclosure defaults) for so long as it is delayed in filing the annual financial statements, related MD&A, and CEO and CFO certificates. The company is not aware of any other material information concerning its affairs which has not been generally disclosed.

In view of this delay in filing, the company has applied to the applicable Canadian securities regulatory authorities for a management cease trade order, which, if granted, would preclude members of management from trading the company's common shares until such time as the cease trade order is no longer in effect. There can be no certainty that such an order will be granted. The applicable regulatory authorities may instead issue cease trade orders against the company for failure to file its annual filings within the prescribed time period. If a management cease trade order is granted, it would generally not affect the ability of persons who are not, or who have not been, directors, officers or other insiders of the company to trade in the company's securities.

We seek Safe Harbor.