East Africa Metals Inc. provided an update on the ongoing exploration of its gold and gold/copper/zinc projects in the Federal Democratic Republic of Ethiopia ("Ethiopia"). EAM currently has three approved Mining Agreements with Ethiopia's Ministry of Mines and Petroleum (the "Ministry"); the Terakimti Oxide deposit Mining license has been issued and Mining Agreements for the Mato Bula and Da Tambuk deposits have been approvedand licences issued (news release dated May 29, 2019). All the mining licenses are currently under project development agreements. Mato Bula and Da Tambuk transaction are under a project development agreement with Tibet Huayu Mining Co. Ltd. that purchased a 70% interest in the Company's Mato Bula and Da Tambuk Mining Licenses by making a cash payment of US$1.2M and financing 100% of the US$88M capital costs and operating the mines. Under the agreement EAM will retain the exploration rights to all prospective mineralization on its concession areas outside of the current resource (news release dated August 23, 2019). EAM's interest in the Harvest Project is the subject of a non-binding Letter of Intent with Zijin Mining Group Company Ltd. ("Zijin") to acquire a majority ownership interest in project by making a cash payment of USD 900,000, developing and funding 100% of EAM's obligations related to the development and operation of the Harvest Project. Under the agreement EAM will retain the exploration rights to all prospective mineralization on its concession areas outside of the current resource East Africa is prepared to initiate a fully funded $2,700,000 exploration program announced in early 2021, once commercial activity in the Tigray region normalizes and it recovers from the impacts of the COVID pandemic and the political unrest. EAM has completed the planning and received government approval for the $2,700,000 exploration program that will include diamond drilling, geophysical surveys, environmental, metallurgical studies and resource assessments. The initiation of the exploration program is expected to begin immediately after the Government declares the region ready for field operations. EAM's management has confidence in the potential of the Company's exploration assets in the Tigray region and looks forward to continued participation in what has become an active and emerging exploration sector. Listed below are the exploration targets that host potential to improve current resources and potentially increase the total resource base (news release dated May 7, 2018). Highest priority exploration targets that have potential to increase the resource base will be the focus of Phase 1 drilling.