GEMC:CC - Global Energy Metals Strikes Deal with Terra Balcanica and Fulcrum Metals Gaining Exposure to Highly Prospective Ground for Uranium Discovery in Athabasca Basin Saskatchewan
(TheNewswire)
Vancouver, BC -TheNewswire - April 3, 2024 - Global Energy Metals Corporation ( TSXV:GEMC ) | ( OTC:GBLEF ) | ( FSE:5GE1(“Global Energy Metals”, the “Company” and/or“GEMC”) , a multi-jurisdictional, multi-commodity critical mineralexploration, development and project generating company focused ongrowth-oriented projects supporting the global transition to cleanenergy announces that, has terminated its agreement with FulcrumMetals Plc and struck a new deal with Terra Balcanica Resources Corp,securing compensation and a royalty over highly prospective uraniumprojects in Saskatchewan.
Full details ofthe transaction can be found on the Company’s website in a newsrelease issued earlier in the day.
Highlights:
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Exposure touranium, a new commodity to Global Energy’s existing project, equityand royalty portfolio;
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Strategic equityposition in Terra Balcanica, a publicly listed multi-commodity companywith a new focus on uranium exploration in the Athabasca Basin(“Basin”);
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Historical workat the Projects has demonstrated evidence of uranium mineralizationalong favourable structural trends with prospective target horizonsbased on electromagnetic conductors;
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Proximal tonorthern and southeastern edges of the Basin in northern Saskatchewan,a premium mining district and leading global source of high-gradeuranium;
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Charlot-Neely islocated within the emerging Uranium City district on the northwesternmargin of the Basin;
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Explorationexpenditures by Terra totalling $3,250,000 prior to the fourthanniversary of the Option Agreement will aim to determine the resourcepotential for the Projects.
The agreement'stermination marks a strategic move for Global Energy Metals, as itfacilitated a new partnership between Fulcrum and Terra BalcanicaResources.
Under the optionagreement between Terra and Fulcrum, Terra intends to acquire a 100%interest in Fulcrum's uranium projects.
In exchange forterminating the prior agreement with Fulcrum, Global Energy Metalswill receive compensation equivalent to C$150,000 in shares in Terraupon the option agreement's closing.
Additionally,Global Energy Metals will be granted a 0.5% NSR over theSaskatchewan-based project portfolio, covering 596.71 squarekilometres of highly prospective ground for uranium discovery.
The projectportfolio targets major NE-SW trending structures along strike fromhistoric uranium mines and projects.
GEMC CEO MitchellSmith commented:
“ We are excited to haveattracted such a strong operational partner in Terra Balcanica toapply their technical and jurisdictional expertise to advance theseNorth American uranium projects at such a pivotal time in this newnuclear era,” Mitchell Smith, GEMC’s CEO said in astatement.
“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 willbolster Global Energy’s existing project, royalty and equityportfolio to now include uranium and further demonstrates thecompany’s ability to monetize assets for the benefit ofshareholders.”
Futureexploration efforts, spearheaded by Terra, aim to assess the resourcepotential of the projects, building on initial exploration andevaluation conducted by Fulcrum in 2023.
QualifiedPerson
Mr. PaulSarjeant, P. Geo., is the qualified person for this release as definedby National Instrument 43-101 - Standards of Disclosure for MineralProjects. He is a shareholder and Director of the Company.
For FurtherInformation:
Global EnergyMetals Corporation
#1501-128 WestPender Street
Vancouver, BC,V6B 1R8
Email:info@globalenergymetals.com
t. + 1 (604)688-4219
www.globalenergymetals.com
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Global Energy Metals Corporation
(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 and quarantine restrictions imposed bygovernments of affected countries. In addition, a significant outbreakof contagious diseases in the human population could result in awidespread health crisis that could adversely affect the economies andfinancial markets of many countries, resulting in an economic downturnthat could further affect operations and the ability to finance itsoperations.
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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