African Energy Metals Files NI-43-101 Report on Ninobamba
Rhea-AI Summary
African Energy Metals (NEX: CUCO.H) has announced that the TSXV has accepted its NI-43-101 technical report for the Niñobamba silver-gold project in Peru. The report, prepared by James A. McCrea, P. Geo with an effective date of January 21, 2025, is now available on SEDAR+.
This technical report submission is part of the company's reactivation process from NEX board to Tier 2 of the TSX Venture Exchange, connected to their option agreement with Rio Silver Inc. to acquire 100% interest in the project. The TSXV has provided conditional acceptance of the reactivation, pending the completion of a previously announced $1,000,000 private placement financing and payment of Exchange fees.
Positive
- TSXV acceptance of NI-43-101 technical report
- Potential acquisition of 100% interest in Niñobamba silver-gold project
- Progress toward TSXV Tier 2 reactivation from NEX board
Negative
- Pending $1,000,000 financing requirement
- Additional exchange fees required for reactivation
Vancouver, British Columbia--(Newsfile Corp. - March 6, 2025) - African Energy Metals Inc. (NEX: CUCO.H) (FSE: BC2) (WKN: A3DEJG) ("African Energy Metals" or the "Company") announces the TSXV has accepted for filing its National Instrument 43-101 technical report (the "Report") on the Niñobamba silver-gold project, prepared by James A. McCrea, P. Geo. with an effective date of January 21, 2025. The Report is now available for review on SEDAR+ (www.sedarplus.ca).
The Report is part of the Company's reactivation from NEX board to Tier 2 (the "Reactivation") of the TSX Venture Exchange (the "Exchange"), in connection with the Company's option agreement dated January 20, 2025, with Rio Silver Inc. to acquire a
About African Energy Metals
African Energy Metals is a natural resource company with a focus on the acquisition, exploration, development, and operation of precious metal mining exploration projects. The Company's primary focus will be on exploring and developing the advanced Niñobamba silver gold project in the mining supportive country of Peru.
For further information, please contact African Energy Metals:
Stephen Barley, Executive Chairman
Jason Baker, Chief Financial Officer
Phone: +1-604-252-2672
Email: info@africanenergymetals.com
Website: www.africanenergymetals.com
Reader Advisory
Neither 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 release.
This news release may contain forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of current or historical facts contained in this news release are forward-looking information.
Forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in African Energy Metals' periodic filings with Canadian securities regulators. When used in this news release, words such as "will", "could", "plan", "estimate", "expect", "intend", "may", "potential", "should," and similar expressions, are forward- looking statements. Information provided in this document is necessarily summarized and may not contain all available material information.
Forward-looking statements include those in relation to African Energy Metals' ability to close on the acquisition of the Niñobamba Project; in relation to satisfying TSX Venture Exchange and NEX Exchange requirements in connection with the acquisition and the Reactivation; completion of the financing and African Energy Metals' expectations regarding the potential for economic mineralization on the Niñobamba Project. Although African Energy Metals believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can't make any assurances that its expectations will be achieved. Such assumptions may prove incorrect.
Although African Energy Metals has attempted to identify important factors that could cause actual results, performance, or achievements to differ materially from those contained in the forward- looking statements, there can be other factors that cause results, performance, or achievements not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances, or results will materialize. As a result of these risks and uncertainties, no assurance can be given that any events anticipated by the forward-looking information in this news release will transpire or occur, or, if any of them do so, what benefits that African Energy Metals will derive therefrom. Accordingly, readers should not place undue reliance on forward-looking statements.
The forward-looking statements in this news release are made as of the date of this news release, and African Energy Metals disclaims any intention or obligation to update or revise such information, except as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/243503
FAQ
What is the significance of African Energy Metals' NI-43-101 report for the Niñobamba project?
What conditions must African Energy Metals meet for TSXV reactivation in 2025?
When was the Niñobamba project option agreement signed with Rio Silver Inc?
Who prepared the technical report for African Energy Metals' Niñobamba project?
