Mr. Andrew Lee Smith reports

EAST AFRICA METALS ANNOUNCES ENGAGEMENT OF MARKETING FIRM BULLVESTOR MEDIEN GMBH AND EXTENSION OF NON-BROKERED PRIVATE PLACEMENT

East Africa Metals Inc. has engaged BullVestor Medien GmBH and its general manager Helmut Pollinger, both arm's-length parties to the company, to provide digital marketing services to the company commencing on April 5, 2024, and until exhaustion of the budget. The services will include the creation of content, strategic planning, digital advertisement placement, and overseeing progress and results of digital campaigns. In consideration for providing the services, the company has budgeted a total of $45,000 and advanced the payment in full. BullVestor, located in Austria, is a communications agency focused on investors and potential investors in Europe.

Consideration offered to BullVestor does not include any securities of the company. Aside from this engagement, the company does not have any relationship with BullVestor or Mr. Pollinger. Mr. Pollinger owns 1.48 million shares of East Africa, purchased more than 24 months ago, and Mr. Pollinger holds 200,000 stock options of the company. BullVestor and Mr. Pollinger have agreed not to sell any securities of the company during the promotional campaign. The company's agreement with BullVestor remains subject to acceptance by the TSX Venture Exchange.

The company also announces that it has received TSX-V approval to extend the closing of its non-brokered private placement, announced on March 4, 2024, of up to 10 million units at a price of 10 cents per unit for aggregate gross proceeds of $1-million, subject to approval of the TSX-V. Each unit comprised one common share and one share purchase warrant. Each warrant entitles the holder to acquire a common share at a price of 20 cents for a period of up to three years. The net proceeds will be used by the company for general corporate and working capital purposes. All securities issued will be subject to a four-month hold period from the date of issuance. The private placement is expected to close on or around May 6, 2024, or such earlier date as may be determined by the directors of the company. The company will provide updates respecting the private placement as warranted.

About East Africa Metals Inc.

The company's principal assets include a 30-per-cent net profit interest in the Mato Bula and Da Tambuk mines (collectively Adyabo property) and a 70-per-cent project interest in the Harvest polymetallic volcanogenic massive sulphide 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 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.