GEMC:CC - Global Energy Metals Announces Investee Company High-Tech Metals Acquires Historical Nickel Sulphide Project Following Recently Discovered Nickel Potential at Werner Lake

(TheNewswire)

Vancouver, BC - TheNewswire -September 6, 2023 - Global Energy Metals Corporation ( TSXV:GEMC ) | ( OTC:GBLEF ) | ( FSE:5GE1 ) (“Global Energy Metals”, the “Company” and/or“GEMC”) , a multi-jurisdictional,multi-commodity critical mineral exploration and development companyfocused on growth-oriented battery metal projects supporting theglobal transition to clean energy, is pleased to report that High-TechMetals Limited (“High-Tech” and/or “HTM”), an equity investeeof GEMC, has significantly increased its exposure to nickel sulphidesand copper through the acquisition of the Norpax Nickel SulphideDeposit and the Reynar Lake Ni-Cu-Co Project (the Projects”).

Norpax Nickel SulphideDeposit:

• A historical non-NI 43-101 compliant resource of1,010,000 tonnes 1.2% Ni and 0.5% Cu (refer to Canadian Mines Handbook1963, pg 215).

• The deposit lies ~1 km west of HTM’s existingproject, Werner Lake, and along the Werner Lake Belt.

• The Norpax nickel mineralisation sits on a knownmineralised fault zone, the regional scale Werner-Gordon-Rex lakefault which extends from Rayner Lake in the west, passing under AlmoLake, east through the Werner Lake Co and Gordon Lake Cu-Ni depositsto Rex Lake.

• Mineralised peridotite is known to host manysignificant nickel deposits such as companies Mincor Resources Ltd inKambalda and also Azure Minerals Ltd (ASX:AZS) Andover project’sultramafic zone, which is in part peridotite.

• The area has a rich history in nickel sulphide mineswith the old Gordon Lake Mine located 3.5 km to the East of WernerLake, which produced 1,370,285 tons averaging 0.92% Ni and 0.47% Cuand has existing reserves of 170,420 tonnes averaging 0.85% Ni and0.35% Cu2.

Reynar Lake Ni-Cu-Co Project:

• Reynar Lake project immediately adjoins HTM’s WernerLake Project.

• The ground is highly prospective for Ni, Cu and Co andshould the option be exercised, it will provide HTM with additionallandholding to potentially increase its cobalt resource and explorefor additional nickel sulphide mineralisation.

High-Tech plans to build on the recent explorationsuccess at Werner Lake that confirmed not only the copper-cobaltpotential of the project, but also the discovery of high-grade nickelsulphide at surface, and will immediately begin planning explorationon the newly acquired Projects.

As part of the acquisition of the Projects, HTM plansto undertake:

• A review of all available geological data.

• Prepare a systematic geochemical sampling program ofknown mineral occurrences on the projects in conjunction withreconnaissance geological mapping.

• Relog and assay of any available historiccore.

This acquisition and option on highly prospectiveproperties follows significant results having been achieved throughthe Ni-Cu-Co geochemical assessment of 209 rock samples and asuccessful orientation ground geophysical program, (Refer toHigh-Tech’s ASX Releases dated 20th April 2023 and 26th May 2023)which was pivotal in identifying potential mineral deposits andimproving the understanding of the geological structure of thearea.

High-Tech is in the final steps of planning its maidendrill program at Werner Lake targeting high priority drill targets,with drilling planned for this Fall/Autumn. Drill targeting isfocussing on proximity of significant base metal results with highmagnetic anomalies.

In January 2023 GEMC completed the divestment of its70% interest in the Werner Lake Project to High-Tech.  The Companycurrently holds 2.5 million High-Tech shares representing a 7.61%interest in the ASX company. See news release linked here: https://globalenergymetals.com/news/global-energy-metals-announces-high-tech-metals-raises-aud-4.718m-lists-on-the-asx-and-completes-on-acquisition-of-the-werner/ .

For further details regarding the acquisition andoption terms and details along with information on the Werner LakeCobalt Project please refer to the High-Tech Metals ASXannouncement on their website .

High-Tech Metals Limited

High-Tech Metals Limited (ASX:HTM) is an ASX-listedcompany focused on the exploration and development of its flagship,100 per cent owned Werner Lake Cobalt Project (the Project) located innorth-western Ontario, within the Kenora Mining District,approximately 85 km north-northwest of Kenora, Ontario andapproximately 170 km east-northeast of Winnipeg, Manitoba. The Projectwas acquired from Global Energy Metals Corporation (70%) and MarqueeResources Limited (30%).

Qualified Person

Mr. Paul Sarjeant, P. Geo., a Director and shareholderis the qualified person for this release as defined by NationalInstrument 43-101 - Standards of Disclosure for MineralProjects.

For FurtherInformation:

Global Energy MetalsCorporation

#1501-128 West PenderStreet

Vancouver, BC, V6B 1R8

Email: info@globalenergymetals.com

t. + 1 (604) 688-4219

www.globalenergymetals.com

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Global Energy MetalsCorporation

(TSXV:GEMC |OTCQB:GBLEF | FSE:5GE1)

Global Energy Metals Corp. offersinvestment exposure to the growing rechargeable battery and electricvehicle market by building a diversified global portfolio ofexploration and growth-stage battery mineral assets.

Global Energy Metalsrecognizes that the proliferation and growth of the electrifiedeconomy in the coming decades is underpinned by the availability ofbattery metals, including cobalt, nickel, copper, lithium and otherraw materials. To be part of the solution and respond to thiselectrification movement, Global Energy Metals has taken a‘consolidate, partner and invest’ approach and in doing so haveassembled and are advancing a portfolio of strategically significantinvestments in battery metal resources.

As demonstrated withthe Company’s current copper, nickel and cobalt projects in Canada,Australia, Norway and the United States, GEMC is investing-in,exploring and developing prospective, scaleable assets in establishedmining and processing jurisdictions in close proximity to end-usemarkets. Global Energy Metals is targeting projects with low logisticsand processing risks, so that they can be fast tracked to enter thesupply chain in this cycle.  The Company is also collaborating withindustry peers to strengthen its exposure to these criticalcommodities and the associated technologies required for a cleanerfuture.

Securing exposure tothese critical minerals powering the eMobility revolution is agenerational investment opportunity. Global Energy Metals believesNow is the Time to be part of this electrificationmovement.

Cautionary Statementon Forward-Looking Information:

Certain informationin this release may constitute forward-looking statements underapplicable securities laws and necessarily involve risks associatedwith regulatory approvals and timelines. Although Global Energy Metalsbelieves the expectations expressed in such forward-looking statementsare based on reasonable assumptions, such statements are notguarantees of future performance and actual results or developmentsmay differ materially from those in the forward-looking statements.Except as required by law, the Company undertakes no obligation toupdate these forward-looking statements in the event thatmanagement’s beliefs, estimates or opinions, or other factors,should change.

GEMC’s operationscould be significantly adversely affected by the effects of awidespread global outbreak of a contagious disease, including therecent outbreak of illness caused by COVID-19. It is not possible toaccurately predict the impact COVID-19 will have on operations and theability of others to meet their obligations, including uncertaintiesrelating to the ultimate geographic spread of the virus, the severityof the disease, the duration of the outbreak, and the length of traveland quarantine restrictions imposed by governments of affectedcountries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread healthcrisis that could adversely affect the economies and financial marketsof many countries, resulting in an economic downturn that couldfurther affect operations and the ability to finance itsoperations.

For more informationon Global Energy and the risks and challenges of their businesses,investors should review the filings that are available atwww.sedar.com.

Neither TSX VentureExchange nor its Regulation Services Provider (as that term is definedin the policies of the TSX Venture Exchange) accepts responsibilityfor the adequacy or accuracy of this release.

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