Vancouver, British Columbia. Nigel Ferguson, the President of African Metals Corporation (TSX Venture Exchange: AFR) wishes to announce that the Company has closed the first tranche of the private placement announced on August 24th by the issuance of 7,250,000 units at Cdn$0.20 per unit, each unit consisting of one common share and one-half of one warrant. Each whole warrant is exercisable to acquire one common share of the Company at a price of Cdn$0.30 for a period of 24 months from the closing of the tranche. The shares are subject to resale restrictions that expire on December 28, 2010. In addition, the Company announces that the placement is increased to up to 15,000,000 units on the same terms.

An aggregate finder’s fee of $145,000 and 725,000 warrants was paid. The net proceeds of the private placement will be used for continued exploration and development of the Company’s DRC-based copper exploration assets and for general corporate purposes.

ON BEHALF OF THE BOARD OF DIRECTORS OF
AFRICAN METALS CORPORATION

“Nigel Ferguson”
Nigel Ferguson
President & CEO

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEW RELEASE.

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