Chairman’s Letter

Dear Investor, On behalf of the Board of Directors, it is my great pleasure to invite you to become a shareholder of Armada Metals Limited (Armada Metals or the Company), an exciting new exploration company with discovery potential for base metals in Gabon. The Company is coming to market in a period where the demand associated with the growth of the electric vehicle market, and for green metals, requires new exploration focus for nickel and copper. With many parts of Africa still underexplored, the continent offers significant opportunities for new discovery. The Armada Group holds two1 exploration licences (Tenements), prospective for magmatic nickel-copper sulphide, covering a total area of 2,991 square kilometres in the Nyanga Province, Gabon (Nyanga Project) . With over U$10m spent to date, developing an exploration pipeline with targets ready to drill, the Company has an aggressive exploration program for the next two years. Armada Metals has assembled a skilled Board, comprising Directors who have a wide range of experience in mineral exploration companies. The Company’s award-winning, African-based technical team has a proven track record of exploration and discovery in Africa and have resided and operated in Africa for over 20 years.

1 One Tenement, G5-555, was valid until 25 April 2021 and is currently under a renewal process: an application for renewal was lodged in due time with the Gabonese minister in charge of mines on 17 February 2021 and is still under review. See section 7.2(b) for further detail regarding the renewal risk concerning this Tenement.