Mr. Nick Watters reports

EAST AFRICA METALS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

East Africa Metals Inc. has arranged a non-brokered private placement to raise gross proceeds of $5,522,000 through the sale of 50.2 million common shares at the price of 11 cents per share. All dollar amounts are in Canadian dollars, except as noted.

The private placement involves an investment by a strategic investor, reflecting confidence in the company's African assets and growth prospects. On closing, the investor will hold approximately 19.9 per cent of the issued and outstanding shares of the company. All securities issued will be subject to a four-month hold period from the date of issuance. The company plans to allocate the proceeds from the private placement toward advancing its projects in both Ethiopia and Tanzania, legal, accounting, marketing, and general working capital purposes. No commissions or finders' fees will be paid by the company in connection with the private placement. The private placement remains subject to approval by the TSX Venture Exchange.

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 the Adyabo property), and a 70-per-cent project interest in the Harvest polymetallic VMS (volcanic 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 Metals has invested $66.8-million (U.S.) in African exploration since 2005, and has 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.