Mr. Nigel Ferguson reports

AFRICAN METALS ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT AND INCREASE IN OFFERING

African Metals Corp. has closed the first tranche of the private placement reported in Stockwatch on Aug. 24 by the issuance of 7.25 million units at 20 cents per unit, each unit consisting of one common share and one-half of one warrant. Each whole warrant is 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 tranche. The shares are subject to resale restrictions that expire on Dec. 28, 2010. In addition, the company announces that the placement is increased to up to 15 million units on the same terms.

A total finder's fee of $145,000 and 725,000 warrants was paid. The net proceeds of the private placement will be used for continued exploration and development of the company's copper exploration assets based in the Democratic Republic of the Congo, and for general corporate purposes.