Mr. Andrew Smith reports

EAST AFRICA METALS - UPDATE ON MAGAMBAZI DEVELOPMENT

East Africa Metals Inc. has provided an update on the progress of the Magambazi mine development, having recently toured the site and met with Canaco Tanzania Ltd.'s (CTL) management along with management from EMG Pamoja Royalties Tanzania Ltd., East Africa Metals' gold trading subsidiary. Management believes that the Magambazi mine development is ahead of schedule and commissioning of hard rock mining operations will commence at the North pit in Q2 of 2022.

Engineering update

As previously announced (press release -- Sept. 27, 2021), PMM Mining Company Ltd. has commenced engineering work to develop detailed plans for hard rock mining operations and surface equipment installations. The revised resource (press release dated Oct. 19, 2021) and the recently completed pit optimization study by the PMM technical team will provide the framework for site development and the production schedule. The decision to begin operations on the South pit will provide the engineering team the time required resolve the geotechnical issues in the North pit that are the result of illegal mining operations between 2009 and 2015. The initial phase of mining is planned to commence at a rate of mining 200 tonnes per day, expanding the processing plant over a 48-month period to 1,000 tonnes per day as the South pit and underground operations come on-line. First-year production is targeted to be 10,000 ounces of gold, scaling up to 40,000 ounces annually over a period of 48 months.

Construction update

Having toured the site via helicopter on Thursday, March 3, 2022, management was pleased with the progress of previously reported construction items, namely the access road to the North pit which is now complete.

Tailings reprocessing production update

The company has been informed the reprocessing of the tailings has been completed (press release dated Sept. 13, 2021). East Africa Metals's management is awaiting production reconciliations from PMM for Q3 and Q4 of 2021, which have been delayed in order for PMM to settle taxation issues. East Africa Metals is confident that the issues will be resolved and expect production numbers shortly from PMM.

Corporate social responsibility initiatives

It is worth noting that the company's representatives toured the Nyasa Village school that East Africa Metals built for the local village and are pleased to report that attendance is at maximum capacity. East Africa Metals recognizes the importance of developing community relationships with local residents in areas where exploration and mining activities are impacting daily life and remains committed to investing in local communities, as part of the normal business practice.

"East Africa Metals's management is pleased to see the accelerated development of the Magambazi mine," said Andrew Lee Smith, chief executive officer of East Africa. "This pathway toward cash flow in this strong gold market is one step closer and should be realized in the near future."

Mr. Smith, PGeo, CEO, a qualified person under the definitions of National Instrument 43-101, has reviewed and approved the technical contents of this press release.

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.

The Mato Bula and Da Tambuk mines are four kilometres apart and will be developed simultaneously. The development of the mining operations is scheduled to begin during the second half of 2021.

East Africa retains exploration rights on areas of the properties outside the Mato Bula, Da Tambuk and Terakimti mining licences in all Ethiopian projects and anticipates the commencement of exploration drilling to test priority targets during the second half of 2021.

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.