GBLEF - Global Energy Metals to Acquire Monument Peak Copper-Silver-Gold Project in Idaho; Takes Strategic Interest in Battery Metal Exploration Portfolio in Quebec

March, 02 2021 08:03 AM Global Energy Metals

(TheNewswire)

Vancouver, BC - TheNewswire - March 2, 2021 - Global Energy MetalsCorporation ( TSXV:GEMC ) | ( OTC:GBLEF ) | ( FSE:5GE1 ) (“Global Energy Metals”, the“Company” and/or “GEMC ”) is pleased to announce that it has entered into a Letter ofIntent (the “LOI”) with DG Resource Management (“DGRM” and/orthe “Vendor”) for the acquisition (the “Acquisition”) of afifty percent (50%) interest in a portfolio of battery metal projects,which include:

-- Monument Peak, Idaho (Copper, Silver,Gold)
-- Chance Lake, Quebec (Nickel, Copper,Cobalt)
-- Amiral, Quebec (Nickel, Copper,PGE’s)

The Acquisition is part of an ongoingeffort by the Company to assemble battery metals-rich projects intop-tier mining jurisdictions with exploration & developmentupside.

Mitchell Smith,President & CEO, Director comments:

“ The ongoing consolidation of strategicallylocated battery metals projects, has allowed Global Energy Metals toestablish itself as a dominant holder of highly prospective criticalmetals projects with strong exploration and development upside. Theaddition of Idaho, U.S. based Monument Peak, and the Quebec basedChance Lake and Amiral properties complement our current portfolio andprovides the Company with added exposure to North American copper,cobalt, silver and nickel at a time when quality resource projects areneeded to supply an apparent decades long growth cycle in demand ofvehicle electrification and stationary energystorage. ”

Monument PeakCopper-Silver-Gold Project, Idaho, USA

The Monument Peak Project consists of 69claims covering approximately 1,380 acres (~558.5 hectares). It isan exploration-staged, high-grade, copper-silver-gold project, whichcovers two small past producing copper mines: Jackson and Hungry Hill. Sporadic development and production in the area occurred primarilyduring the early 1900’s, with some additional development in the1950’s. The most recent exploration occurred during the 1970’sand 1980’s.

Mitchel (1972) described the Cu-Ag-Aumineralization at Monument as having “unusual continuity” inassociation with structural zones within sericitic quartzites, whichcan be traced along 3,200 m strike that vary from 3 to 6 m width.

The mineralization is described (Lavery,1988) as “syngenetic and fits a volcanic-hosted (massive) sulfide model …where … the copper-mineralized section might be as much as 175 feetthick ”.

Project highlights follow (from North toSouth):

-- North Showing: grab samples to 0.57%Cu, 248 g/t Ag, 57.5 g/t Au ;
-- Jackson Adit: grab samples to 13.6%Cu, 2,589 g/t Ag, 17.1 g/t Au ;

- - Chip Sample: 3.0 m of 7.03% Cu, 109 g/tAg
  
  - Chip Sample: 1.8 m of 3.11% Cu, 101 g/tAg
  
  - Chip Sample: 6.1 m of 4.32% Cu, 99 g/tAg

-- Anderson Occurrence: grab samples to 3.9%Cu, 89 g/t Ag, 2.5 g/t Au .
-- Hungry Hill Mine (2 km east of main trend): 2.4 mof 17% Cu .

The company intends to complete a brieffield program during the spring of 2021 and thence prepare a NI 43-101Technical Report documenting all historical and recent exploration onthe property.

Chance LakeNickel-Copper-Cobalt Property, Quebec, Canada

The Chance Lake Property is situatedwithin the Labrador Trough, approximately 100 km north ofSchefferville in the Nunavik Territory of Quebec. The Propertyconsists of 16 contiguous claims covering approximately777.7 hectares.

Mineralization at the Property was firstdiscovered in 1942-1943 at Chance Lake and at Glance Lake. The primaryoccurrence is at Chance Lake, where mineralization consists ofultramafic lenses of massive sulphide (pyrrhotite, chalcopyrite,pentlandite, and sphalerite) surrounded by halos of disseminatedsulphide (pyrrhotite and chalcopyrite). In 1959, Hollinger North ShoreExploration Company Limited completed a series of drill holestargeting the Chance Lake occurrence. The program was successful inintersecting both disseminated and massive sulphide mineralizationwith vertical drill hole L9 returning 27.2 ft (8.29 m) of0.87% Ni and 0.90% Cu from 119.6 ft to 146.8 ft depth (~35.5 m to 44.7m) . Analysis for platinumand palladium was not completed on the core samples.

In 1959, a “tonnage estimate” wascompleted on the Chance Lake occurrence by the Hollinger North ShoreExploration Company Limited (Nicholson 1959, GM09855). The historicalestimate outlined 716,031 tons at 0.66% Cu, 0.89% Ni, 0.10%Co for the massive sulfidezone, or 967,393 tons at 0.49% Cu and 0.73% Ni for the combined massive sulphide anddisseminated sulfide zones.

The Company cautions that the historicalestimates (i.e. tonnage and grade estimates) documented for the ChanceLake occurrence have not been independently verified by a QualifiedPerson and were not completed in accordance with NI 43-101 Standardsof Disclosure for Mineral Projects, and therefore, should not berelied upon. The historical estimates are not mineral resources, andtherefore, should not be treated as such.

AmiralNickel-Copper-PGE Property, Quebec, Canada

The Amiral Property is an early-stagemagmatic Ni-Cu-PGE project located within the Grenville GeologicalProvince, approximately 120 Km northwest of Sept-Îles, Quebec. TheProperty consists of 40 contiguous mineral claims covering an area ofapproximately 2,162.5 hectares and is easily accessible via a networkof old logging roads transecting the area, and a rail line passingwithin 3 km of the Property.

In 1999, a peridotite rock unit wasdiscovered on the Property, hosting 1% to 30% sulphides includingpentlandite and chalcopyrite (the “Amiral Showing”). In 2002, anIP geophysical survey was completed and detected numerous conductivehorizons on the Property, including some coincident with the AmiralShowing.

To date, two zones of mineralizationhave been identified on the Property – Amiral and Trench 4 – andare separated by approximately two (2) kilometres. Historical samplingof the Amiral Showing returned 1.07% Ni and 0.35% Cu over 6.5m , including 1.54%Ni and 0.29% Cu over 2.1 m (GM59166). At the Trench 4 Showing, historical sampling returned 0.63%Ni and 0.89% Cu (GM62800).

Terms of theAcquisition :

In consideration of the Acquisition, andsubject to TSX Venture Exchange (the “TSXV”) acceptance, asapplicable, the Company has agreed to make, cash payments in theaggregate amount of CAD$200,000 and issue 1,750,000 common shares ofGEMC and 1,750,000 common share purchase warrants (“Warrants”)with each Warrant being exercisable at $0.30, subject to acceleration,for a period of two years for a common share in GEMC. $100,000 of thecash payment will be applied to project advancement initiativesincluding the completion of a technical report on the Monument Peakproject.

The Payment Shares will be subject toresale restrictions of 4 months plus one day in accordance withapplicable securities legislation and will also be subject to avoluntary pooling arrangement, pursuant to which the shares will beendorsed with applicable legends and released asfollows:

- - 25% of the Payment Shares shall bereleased on that day that is four months and one day following thedate of issuance thereof;
  
  - 25% of the Payment Shares shall bereleased on the day that is eight months and one day following thedate of issuance thereof; and
  
  - 50% of the Payment Shares shall bereleased on the day that is twelve months and one day following thedate of issuance thereof.

Global Energy Metals intends to workalongside the DGRM team to attract strategic partners to fund futureproject development at the projects while leveraging its interest tocreate shareholder value through exploration success.

Amongst other matters, the agreement issubject to receipt of all approvals and third-party consents of theboards of directors of Global and the Vendor, and regulatoryauthorities, including but not limited to the Exchange TSX VentureExchange and the completion of an equity financing in the context ofthe market.

PrivatePlacement:

The private placement offering is for aminimum 2,000,000 units (the “Units”) of the Company at a price of$0.25 per Unit (the “Offering”), with each Unit comprised of oneshare and one transferrable share purchase warrant (a“Warrant”). Each transferrable warrant will be exercisable topurchase an additional share of the Company for a period of 24 monthsfrom the closing date at a price of CAD$0.30.

The net proceeds of the Offering will beused to fund the Acquisition as well as for business development andworking capital purposes.

The Company has agreed to and may pay afinder’s fee of 8% cash and 8% broker warrants for Units sold tocertain investors (“Broker Warrants”). Each Broker Warrantentitles the holder to acquire one common share of the Company at astrike price of $0.30 for a period of one year from the date ofissuance. Warrants are subject to an acceleration clause whereby if onany 10 consecutive trading days occurring after four months and oneday has elapsed from the closing date, the daily volume weightedaverage trading price of the common shares of the Company is at least$0.50 per share, the Company may accelerate the expiry date of thewarrants to the 30th day after the date on which the Company givesnotice to the subscriber in accordance with the warrant of suchacceleration.

All securities to be issued pursuant tothe Offering will be subject to a four month hold period from theclosing date under applicable securities laws in Canada and amongother things, receipt by Global Energy Metals of all necessaryregulatory approvals, including the TSX VentureExchange.

The securities issued in connection withthe Offering have not been nor will they be registered under theUnited States Securities Act of 1933, as amended, or state securitieslaws, and may not be offered or sold in the United States or to anaccount for the benefit of US persons, absent such registration or anexemption from registration. This press release shall not constitutean offer to sell or the solicitation of an offer to buy the securitiesin the United States or in any jurisdiction in which such offer, sale,or solicitation would be unlawful.

QualifiedPerson

Mr. Paul Sarjeant, P. Geo., is thequalified person for this release as defined by National Instrument43-101 - Standards of Disclosure for Mineral Projects.

Darren L. Smith, M.Sc, P.Geo, DahrougeGeological Consulting Ltd., a registered permit holder with the Ordredes Géologues du Québec and a qualified person as defined by NI43-101, supervised the preparation of the technical information inthis news release with respect to the Chance Lake and Amiralproprieties.

Global Energy MetalsCorporation

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

Global Energy Metals is focused onoffering investment exposure to the raw materials deemed criticalfor the growing rechargeable battery market, by building a diversifiedglobal portfolio of battery mineral assets including project stakesand sector specific equity positions. GEMC anticipates growing itsbusiness through the acquisition and development of battery mineralprojects alongside key strategic partners. The Company holds 100%of the Millennium Cobalt Project and two neighbouring discovery stageexploration-stage cobalt assets in Mount Isa, Australia positioningit as a leading cobalt-copper explorer and developer in thefamed mining district in Queensland, Australia. The Company holds an85% interest in two battery mineral projects, the Lovelock CobaltMine and Treasure Box Project, located on the doorstep of theworld’s largest lithium-ion battery production plant, GigaNevadathat Tesla Motors Ltd. and partner Panasonic Corp. have built inNevada, USA. Additionally, the Company holds a 70%interest in the past-producing Werner Lake Cobalt Mine project inOntario, Canada.

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

Twitter: @EnergyMetals | @USBatteryMetals | @ElementMinerals

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 diseasesin the human population could result in a widespread health crisisthat could adversely affect the economies and financial markets ofmany countries, resulting in an economic downturn that could furtheraffect 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.

We seek safeharbour.

Company Name:	Global Energy Metals
Stock Symbol:	GBLEF
Market:	OTC
Website:	globalenergymetals.com