African Metals Corporation Announces Results of Annual General Meeting

TORONTO, March 17, 2021 - African Metals Corp. (NEX: AFR.H) ("African Metals" or the "Company") is pleased to announce that shareholders overwhelmingly approved all items presented at its annual and special meeting of shareholders held on March 17, 2021.

The following resolutions were passed by no less than 99.8% of the votes cast in favour of management's proposals:

- Davidson&Company LLP, Chartered Professional Accountantswerere-appointed as the auditor until the next annual general meeting and the directors were authorized to fix the remuneration of the auditor;

- The number of directors of the company was fixed at three;

- the three persons nominated were elected as directors of the company, namely, David V. Mason, John F. O'Donnell, and Simeon Tshisangama;and

- the resolution to approve the amended stock option plan of the company has been carried.

The plan is a 10% rolling stock option plan meaning that the number of listed shares reserved for issuance under the plan is 10% of the issued and outstanding shares at the time of the grant of options. There are currently 14,038,681 shares of the Company issued and outstand meaning that 1,403,868 shares could be reserved for issuance. There are currently no outstanding stock options and, thus, no shares reserved for issuance under the plan. The amended stock option plan remains subject to approval of the TSXV.

For more information on the Company, investors should review the Company's filings on SEDAR atwww.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



About African Metals

The common shares of the Company are listed on the NEX Board ("NEX") of the TSX Venture Exchange ("TSXV"). The Company has
applied to the TSXV to transfer its listing from the NEX to the TSXV as a Tier 2 issuer and to reinstate trading of the Common Shares on the TSXV, all in accordance with applicable rules and policies of the TSXV.



For more information, please contact:

John F. O'Donnell, Chairman of the Board at (647) 966-3100 or by email atjohn@odonnell-law.caor Daniel Gregory, Chief Financial Officer at (416) 709-9266 or by email atdangregory811@gmail.com