Mr. Nigel Ferguson reports

AFRICAN METALS ANNOUNCES PRIVATE PLACEMENT

African Metals Corp. is arranging a private placement offering to raise gross proceeds of up to $2-million from the sale of up to 10 million units priced at 20 cents per unit. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant shall be exercisable to acquire one common share of the company at a price of 30 cents for a period of 24 months from the closing of the private placement. Proceeds of the private placement will be used for continued exploration and development of the company's DRC-based copper exploration assets and for general corporate purposes. Finders' fee(s) will be paid pursuant to Toronto Stock Exchange policies and regulations. The private placement is subject to regulatory approval.