Mr. Nick Watters reports

EAST AFRICA METALS PROVIDES UPDATE ON ETHIOPIA PROJECTS AND REGIONAL DEVELOPMENTS

East Africa Metals Inc. has provided an update on its Ethiopian gold projects, recent regulatory and geopolitical developments in the Tigray region, and progress made by its partner in advancing key assets toward production.

Highlights:

• Four-year extensions granted for East Africa Metals' Adyabo and Harvest mining licences, through 2028.
• Renewed engagement by the Tigray Mines and Energy Agency under the interim regional administration.
• Positive economic development initiatives in Tigray region with a focus on improving security conditions and enhancing administrative support for the resumption of mining in the region.
• Tibet Huayu Mining Co. Ltd. confirms its continued commitment to advance the Mato Bula and Da Tambuk gold deposits toward production.

Ethiopia operations

East Africa Metals holds a 30-per-cent carried interest in the Adyabo project and a 70-per-cent interest in the Harvest project, both located in the Tigray region of northern Ethiopia. The projects collectively host 756,000 ounces of indicated and 430,000 ounces of inferred gold equivalent resources. In 2024, the Ethiopian Ministry of Mines granted a four-year extension of the mining development period for both projects, ensuring that East Africa Metals and its partners maintain licences in good standing through 2028.

Regulatory developments in Tigray

The recent reactivation of the Tigray Mines and Energy Agency under the interim administration reflects increasing regional stability. New leadership under Tadesse Worede has prioritized economic revitalization and infrastructure rehabilitation. According to regional authorities, mining is being recognized as a strategic pillar for recovery, with renewed co-ordination between regional and federal ministries to address historical permitting bottlenecks and artisanal mining issues.

East Africa Metals welcomes these developments and remains optimistic that regulatory clarity and administrative support will enhance its ability to advance its assets in Tigray region.

Partner's activities

East Africa Metals' strategic partner, Tibet Huayu, continues to finance and advance mine planning and predevelopment activities at the Mato Bula and Da Tambuk deposits. These projects are fully permitted and carried through to production, with Tibet Huayu responsible for 100 per cent of capital and development expenditures.

Exploration rights for the broader Adyabo and Harvest licence areas remain valid, and East Africa Metals is reviewing targets including the Halima Hill prospect, located 0.5 kilometre south of the Mato Bula resource area.

Outlook

East Africa Metals remains committed to unlocking the value of its Ethiopian gold assets through a partnership-based development strategy. The company will continue to monitor the evolving political and regulatory landscape and remains engaged with both federal and regional stakeholders.

Extension of engagement of marketing firm Bullvestor Medien GmBH

East Africa Metals has extended its engagement with 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. The services include the creation of content, strategic planning, digital advertisement placement, and overseeing progress and results of digital campaigns. BullVestor, located in Austria, is a communications agency focused on investors and potential investors in Europe.

The original engagement commenced on April 5, 2024, and continued until recent exhaustion of the initial $45,000 budget (see the company's news release dated April 5, 2024, for further details of the original engagement). Under the extension, the company has budgeted and paid to BullVestor an additional $45,000 for the continuing services. The additional consideration paid 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 currently owns 1.48 million East Africa Metals shares purchased more than 36 months ago. BullVestor and Mr. Pollinger have agreed not to sell any securities of the company during the extended promotional campaign.

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 (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 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.).

Andrew Lee Smith, a qualified person under the definitions of National Instrument 43-101, has reviewed and approved the contents of this news release.

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