Mr. Nick Watters reports

EAST AFRICA METALS ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT

East Africa Metals Inc. has closed its non-brokered private placement to raise gross proceeds of $5,522,000 (Canadian), as previously announced on June 4, 2025.

The company issued 50.2 million common shares at the price of 11 Canadian cents per share for gross proceeds of $5,522,000 (Canadian). All securities issued are 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, as well as legal, accounting, marketing and general working capital purposes. No commissions or finders' fees were paid by the company in connection with the private placement. The private placement remains subject to final acceptance 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.