GEMC:CC - GLOBAL ENERGY METALS GRANTED URANIUM ROYALTY ON SASKATCHEWAN-BASED PROJECTS AND SHARES IN TERRA BALCANICA; TERMINATES AGREEMENT WITH FULCRUM METALS

(TheNewswire)

Vancouver, BC /TheNewswire / April 3, 2024 / Global Energy Metals CorporationTSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (“Global Energy Metals”, the“Company” and/or “GEMC”) , a multi-jurisdictional, multi-commoditycritical mineral exploration, development and project generatingcompany focused on growth-oriented projects supporting the globaltransition to clean energy announces that, further to the Company's news release dated January 30,2024 , the Company has mutually agreed with Fulcrum Metals Plc. ("Fulcrum") to terminate the royalty purchase and optionagreement entered into in January 2024 pursuant to which Global agreedto acquire an immediate 0.5% royalty on net smelter returns (the“NSR”) in Fulcrum’s Charlot-Neely, Fontaine Lake, Snowbird andSouth Pendleton uranium projects (collectively the “Projects”)located in Saskatchewan, Canada.  GEMC will also terminate theoption to acquire a 19.9% interest in the Projects.

The Company is pleased to announce that it, in collaboration withFulcrum, was instrumental in attracting a new strategic partner and asa result the entering of an agreement between TerraBalcanica Resources Corp. (“Terra”) andFulcrum, whereby Terra intends to acquire 100% interest in the Fulcrumuranium projects through an Option Agreement (the “OptionAgreement”). Details of this Option Agreement can be found inannouncements made by both Terra and Fulcrum.

As consideration for terminating the existing prior agreementbetween Fulcrum and Global Energy, Global Energy will be compensatedwith the equivalent of C$150,000 in shares in Terra on closing of theOption Agreement and granted a 0.5% NSR over the Saskatchewan basedproject portfolio collectively encompassing 596.71km 2 ofhighly prospective ground for a uranium discovery.

Highlights:

• Exposure touranium, a new commodity to Global Energy’s existing project, equityand royalty portfolio;

• Strategic equity position in Terra Balcanica, a publicly listedmulti-commodity company with a new focus on uranium exploration in theAthabasca Basin (“Basin”);

• Historical work at the Projects has demonstrated evidence of uraniummineralization along favourable structural trends with prospectivetarget horizons based on electromagnetic conductors;

• Proximal to northern and southeastern edges of the Basin in northernSaskatchewan, a premium mining district and leading global source ofhigh-grade uranium;

• Charlot-Neely is located within the emerging Uranium City districton the northwestern margin of the Basin;

• Exploration expenditures by Terra totalling $3,250,000 prior to thefourth anniversary of the Option Agreement will aim to determine theresource potential for the Projects.

Mitchell Smith, CEO& Director comments:

“ We are excited to have attracted such astrong operational partner in Terra Balcanica to apply their technicaland jurisdictional expertise to advance these North American uraniumprojects at such a pivotal time in this new nuclear era. Through thisarrangement, we’re excited to maintain exposure to thesehigh-quality uranium assets through both the equity position in Terraand the NSR royalty over the portfolio. This will bolster GlobalEnergy’s existing project, royalty and equity portfolio to nowinclude uranium and further demonstrates the Company’s ability tomonetize assets for the benefit of shareholders.”

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Figure 1. Regional map of northern Saskatchewan, Canada which is oneof the world's leading sources of high-grade uranium and suppliesabout 20% of the world's uranium. The yellow symbols illustratelocations of the four optioned exploration properties totalling 596km 2 in thecontext of the world-famous Athabasca Basin.

Portfolio Overviewand Discovery Opportunity

The projectportfolio totals 596.71km 2 targeting major NE-SW trending structures along strike fromhistoric uranium mines and projects that have attracted significantinvestment. Discoveries such as the Arrow discovery (4.3m tonnes at0.83% U308 https://www.nexgenenergy.ca/exploration/overview/) andTriple R discovery (2.7m tonnes at 1.94% U308https://fissionuranium.com/projects/triple-r-deposit/project-overview/)have proved the concept of exploring along structure outside of theAthabasca basin. This potential has been confirmed through initialexploration and evaluation by Fulcrum in 2023.  A significant numberof high-grade uranium showings occur within the Projects in additionto historical small-scale uranium mining. Future exploration throughthe undertaking of a modern systematic geologic evaluation to determine theresource potential will be a top-priority for Terra.

Terra BalcanicaResources

Terra Balcanicais a polymetallic exploration company that up until the agreement withFulcrum has been targeting large-scale mineral systems in the Balkansof southeastern Europe. The Company has 90% interest in theViogor-Zanik Project in Bosnia and Herzegovina, 100% of the Kaludraand Ceovishte mineral exploration licences in southern Serbia. TheCompany emphasizes responsible engagement with local communities andstakeholders. It is committed to proactively implementing GoodInternational Industry Practice (GIIP) and sustainable health, safety,and environmental management.

Fulcrum MetalsPlc

Fulcrum MetalsPLC (LON: FMET) is an AIM quoted exploration company which financesand manages exploration projects focused on Canada, widely recognisedas a top mining jurisdiction.

Fulcrumcurrently holds a beneficial 100% interest in highly prospective goldand base metals projects in Ontario and uranium projects inSaskatchewan.

Fulcrum’sstrategy is to focus on discovery and commercialisation of itsProjects through targeted exploration programmes. The primary focus isto make an economic discovery on the flagship Schreiber-HemloProperties and to establish the prospectivity of its wider Ontario andSaskatchewan portfolio with a view to securing potential joint ventureand/or acquisition interest.

While highlyprospective, Fulcrum’s mining assets are in the exploration phase,so Fulcrum stands to be able to add significantly to the inherentvalue through exploration success. Fulcrum will continually reviewopportunities with potential and with a view to increasing shareholdervalue. It is the Board’s intention to deliver medium and long-termgrowth and to establish the Group as a significant explorationcompany.

QualifiedPerson

Mr. Paul Sarjeant, P. Geo., is the qualified person for this releaseas defined by National Instrument 43-101 - Standards of Disclosure forMineral Projects.  He is a shareholder and Director of theCompany.

ForFurther Information:

Global Energy Metals Corporation

#1501-128 West Pender Street

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 MetalsCorp. offers investment exposure to the growing rechargeable batteryand electric vehicle market by building a diversified global portfolioof exploration and growth-stage battery mineral assets.

Global Energy Metals recognizes that the proliferation and growth ofthe electrified economy in the coming decades is underpinned by theavailability of battery metals, including cobalt, nickel, copper,lithium and other raw materials. To be part of the solution andrespond to this electrification movement, Global Energy Metals hastaken a ‘consolidate, partner and invest’ approach and in doing sohave assembled and are advancing a portfolio of strategicallysignificant investments in battery metal resources.

As demonstrated with the Company’s current copper, nickel andcobalt projects in Canada, Australia, Norway and the United States,GEMC is investing-in, exploring and developing prospective, scaleableassets in established mining and processing jurisdictions in closeproximity to end-use markets. Global Energy Metals is targetingprojects with low logistics and processing risks, so that they can befast tracked to enter the supply chain in this cycle.  The Companyis also collaborating with industry peers to strengthen its exposureto these critical commodities and the associated technologies requiredfor a cleaner future.

Securing exposure to these critical minerals powering the eMobilityrevolution is a generational investment opportunity. Global EnergyMetals believes Now is the Time to be part of this electrificationmovement.

Cautionary Statement on Forward-LookingInformation:

Certain information in this release may constitute forward-lookingstatements under applicable securities laws and necessarily involverisks associated with regulatory approvals and timelines. AlthoughGlobal Energy Metals believes the expectations expressed in suchforward-looking statements are based on reasonable assumptions, suchstatements are not guarantees of future performance and actual resultsor developments may differ materially from those in theforward-looking statements. Except as required by law, the Companyundertakes no obligation to update these forward-looking statements inthe event that management’s beliefs, estimates or opinions, or otherfactors, should change.

GEMC’s operations could be significantly adversely affected by theeffects of a widespread global outbreak of a contagious disease,including the recent outbreak of illness caused by COVID-19. It is notpossible to accurately predict the impact COVID-19 will have onoperations and the ability of others to meet their obligations,including uncertainties relating to the ultimate geographic spread ofthe virus, the severity of the disease, the duration of the outbreak, and the length of travel andquarantine restrictions imposed by governments of affected countries.In addition, a significant outbreak of contagious diseases in thehuman population could result in a widespread health crisis that couldadversely affect the economies and financial markets of manycountries, resulting in an economic downturn that could further affectoperations and the ability to finance its operations.

For more information on Global Energy and the risks and challengesof their businesses, investors should review the filings that areavailable at www.sedar.com.

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 thisrelease.

We seek safe harbour.

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