East Africa Metals Inc.

East Africa Metals Inc. would like to provide an update on the ongoing exploration/development of its gold and gold/copper/zinc projects in Federal Democratic Republic of Ethiopia . Now that the previously announced Private placement has closed its initial tranche , the Company has signed a diamond drilling contract for up to 10,000m to commence the first phase of drilling during Q2 2019. The Mato Bula Trend Exploration [...]

East Africa Metals Inc. announces that it has closed the first tranche consisting of 14,543,500 units, subject to approval of the TSX-V, for gross proceeds of C$2.3M, of its previously announced non-brokered private placement for up to 18.75M units at $0.16c per Unit and proceeds of up to $C.3.0M . Each unit will consist of one common share and one common share purchase warrant of the Company. Each warrant will entitle [...]

East Africa Metals Inc. would like to provide an update on to the Project Development financing announcement released earlier . As part of the overall financing strategy, East Africa is announcing its intention to complete an equity financing by way of a private placement of up to C$3.0M at a price of C$0.16 per unit for 18.75M units. Each unit will consist of one common share and one common share purchase warrant of the [...]

East Africa Metals Inc. is pleased to provide additional information to the original announcement dated February 8, 2019 regarding the Project Financing with Tibet Huayu Mining Company. EAM can confirm the Boards of Directors for both East Africa Metals and Tibet Huayu Mining have approved the transaction. Original Release: EAM have executed a binding Letter of Intent with Tibet Huayu Mining Co., Ltd for the exploration [...]

East Africa Metals Inc. is pleased to announce EAM have executed a binding Letter of Intent with Tibet Huayu Mining Co., Ltd for the exploration, development and operation of EAM’s Ethiopian Mining Assets; the Terakimti, Mato Bula and Da Tambuk gold projects located in the Tigray National Regional State of the Federal Democratic Republic of Ethiopia . Tibet Huayu is a Chinese mining company with its headquarters in [...]

East Africa Metals Inc. is pleased to announce the Ministry of Mines and Petroleum has approved the Mining Agreements for East Africa’s 100% owned Mato Bula and Da Tambuk gold projects located in the Tigray National Regional State of the Federal Democratic Republic of Ethiopia . The final step in the Mining Licence process is the formal ratification of the Mining Agreements by the Ethiopian Council of Ministers [...]

East Africa Metals Inc. announces that the Company and SinoTech Corporation Limited , an insider of the Company, have signed a third extension of the maturity date for the related party loan entered into in September 2017. On June 1, 2018, the Company announced that SinoTech had agreed to extend the maturity date of an unsecured loan to the Company in the amount of $300,000 . The loan carried an interest rate of 12% per [...]

East Africa Metals Inc. is pleased to announce it has received Draft Model Agreements from the Ministry of Mines, Petroleum and Natural Gas for the Company’s Mato Bula and Da Tambuk Projects, located in the Tigray National Regional State of the Federal Democratic Republic of Ethiopia . The delivery of the DMAs indicates the Ministry has approved the permit application and advanced the permitting process to the next [...]

East Africa Metals Inc. would like to provide an update on the development of its Ethiopian Projects in the Federal Democratic Republic of Ethiopia and the arbitration hearing related to its Tanzanian assets. Financing With the completion of the Preliminary Economic Assessments for the Terakimti Gold Heap Leach project , Mato Bula Gold Copper and Da Tambuk Gold projects, East Africa is now focused on arranging the [...]

East Africa Metals Inc. is pleased to announce it has received approval from the Ethiopian Ministry of Mines, Petroleum and Natural Gas for the Environmental and Social Impact Assessments for the Mato Bula Gold Copper and Da Tambuk Gold Projects. EAM’s President and CEO Andrew Lee Smith said: “The approval of the two project ESIA reports is a major step in the mine permitting process. The comprehensive ESIAs [...]