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File: AFR_NR Stock Option repricing Feb 21.doc

Trading Symbols 
TSXV: AFR
Frankfurt: OWW

NEWS RELEASE
February 21, 2012

AFRICAN METALS REPRICES STOCK OPTIONS 

VANCOUVER, BC - African Metals Corporation (TSX Venture Exchange: AFR) has amended the exercise price of 4,550,000 out
--->standing stock options from prices ranging from $0.24 to $0.385 to a new price of $0.17.  The amendment is also subjec
--->t to regulatory and, in the case of insiders, shareholder approval.


ON BEHALF OF THE BOARD OF DIRECTORS OF AFRICAN METALS CORPORATION

"Nigel Ferguson"

Nigel Ferguson
President  & CEO


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE 
--->TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEW RELEASE.