Mr. Andrew Smith reports

EAST AFRICA METALS ANNOUNCES TIBET HUAYU HAS APPROVED THE INITIATION OF MINING DEVELOPMENT PROGRAMS AT THE MATO BULA AND DA TAMBUK MINES, ETHIOPIA

East Africa Metals Inc. has received confirmation from the company's development partner, Tibet Huayu Mining Co. Ltd., that its board of directors has approved the initiation of mine development activity at the Mato Bula and Da Tambuk mines through its subsidiary Silk Road Investments Co. Ltd.

Tibet Huayu has based its decision to engage the development agenda based on information collected during recent site visits and meetings with regional and federal government representatives in Ethiopia. Silk Road is currently staffing key management positions, reviewing detailed design parameters and has established a base of operations and staff in the nearby town of Shire. The Shire staff are currently working with local authorities and regional governments to prepare the sites for construction activity.

Mato Bula gold-copper and Da Tambuk gold projects

The Adyabo project Mato Bula and Da Tambuk deposits are high-sulphidation gold-rich VMS type deposits. This submarine porphyry-related system is located in the southern part of the Arabian-Nubian Shield (ANS) in the Tigray region of northern Ethiopia. Mining licences have previously been received for both deposits at Adyabo, the Mato Bula gold copper silver project and the Da Tambuk gold project.

Tibet Huayu Mining Co. Ltd. (THM) is responsible for 100-per-cent financing of both Adyabo's Mato Bula and Da Tambuk mine construction costs resulting in a 70-per-cent THM and 30-per-cent EAM ownership.

In April, 2018, preliminary economic assessment (PEA) results were released on the Mato Bula gold-copper and Da Tambuk gold projects, indicating very strong project economics. For Mato Bula, the post-tax NPV (net present value) is $56.7-million (U.S.) (8-per-cent discount rate), and an IRR (internal rate of return) of 28.4 per cent. For Da Tambuk, the post-tax NPV is $13.0-million (U.S.), with an IRR of 28.6 per cent at a gold price of $1,250 (U.S.).

About Tibet Huayu Mining Co. Ltd.

Tibet Huayu Mining is part of Huayu Mining, and multinational mining group listed on the Shanghai Stock Exchange since 2016. Huayu owns a 50-per-cent stake in Tajikistan's largest state-owned enterprise, Tajikistan Aluminum and Gold Industry, in addition to a 70-per-cent stake in Tigray Resources Inc. PLC (TRI), which owns the Mato Bula and Da Tambuk mines.

About East Africa Metals Inc.

The company's principal assets include a 30-per-cent net profits interest in the Mato Bula and Da Tambuk mines (collectively Adyabo property) and a 70-per-cent project interest in the Harvest polymetallic VMS exploration project in the Tigray region of Ethiopia. In addition, the company has a 30-per-cent net streaming interest in the Magambazi mine in the Tanga region of Tanzania.

East Africa Metals has invested $66.8-million (U.S.) in African exploration since 2005 and identified a total of 2.8 million ounces of gold and gold-equivalent resources representing an average discovery cost per ounce of $24 (U.S.).

We seek Safe Harbor.