(TheNewswire)
Coquitlam, BC – TheNewswire - April 17, 2023 – Fuse Battery Metals Inc. (“the Company“ or “Fuse”) (TSXV:FUSE ) ( OTC:FUSEF ) ( FRA:43W3) is pleased to announce that effective today, it has appointedMr. Ryan Cheung as a Director and Audit Committee member of theCompany. Ryan Cheung, CPA, CA, is the founder and managing partnerof MCPA Services Inc, Chartered Professional Accountants, inVancouver, Canada. Mr. Cheung serves as a director and/or officerand consultant for several publicly traded companies, providingfinancial reporting, taxation and strategic guidance.
In connection with his appointment, the Company isgranting Ryan 200,000 stock options at an exercise price of $0.05 pershare for a period of five years. The stockoptions are granted pursuant to the terms of the Company’s stockoption plan, and the requirements of the TSX Venture Exchange.
Mr. Tim Fernback, Fuse President & CEO states“Ryan Cheung is a welcomed addition to the Company’s Board ofDirectors and Audit Committee. Ryan is a seasoned accountant and hasworked for many years with several successful high growth mineralexploration issuers on the TSX Venture Exchange and OTCQB markets. His past experience will be a huge benefit to our shareholders as wecontinue to expand our team and explore for lithium and cobalt, twocritical elements found in large quantities inside the ElectricVehicle Battery. We are excited to have him join our team.”
About Fuse Battery Metals Inc. https://fusecobalt.com/
Fuse Battery Metals Inc. is a Canadian basedexploration company that trades under the symbol FUSE on the TSXVenture Exchange. The Company's focus is on exploration for high valuemetals required for the manufacturing of batteries.
Nevada Lithium Properties
Fuse owns 100% of the Lithium Springs Property which is located at the southern end of Black Rock Desert,Nevada, about 132 air-line km north-northeast of Reno, Nevada inSections 1, 2, 11, and 12 Township 32 North, Range 23. The center ofthe property is about 40.676° North Latitude, 119.331° WestLongitude, (40° 40’ 33” N, 119° 19’ 52”): UTM X 302,900 UTMY4,505,400 NAD 27; Zone 11 N. Black Rock Desert basin is about 110km long and up to 25 km wide at the widest point. The central playameasures about 50 km northeast - southwest and 10 km southeast -northwest. The western arm of the Black RockDesert covers an area of about 2,000 square kilometers and contains 5of the 30 currently listed Known Geothermal Resource Areas inNevada .
Fuse also owns 100% of the Monitor Valley North LithiumProperty which includes 97placer claims (MVN1 – MVN97) covering approximately 770 hectares ofalluvial sediments and clays located 134 km northeast of Tonopah,Nevada. The property is located in MonitorValley, Nevada, and the center of the property is about 39.21° NorthLatitude, 116.65° West Longitude. The property is 55 km due west of the Little Smokey Valley,Nevada where exploration for lithium is ongoing.
Ontario Cobalt Properties
Fuse owns a 100% interest its Glencore Bucke Property,situated in Bucke Township, 6 km east-northeast of Cobalt, Ontario,subject to a back-in provision, production royalty and off-takeagreement. The Glencore Bucke Property consists of 16.2 hectares andsits along the west boundary of Fuse’s Teledyne Cobalt Project. The Company also owns a 100% interest, subject to a royalty, in theTeledyne Project located near Cobalt, Ontario. The Teledyne Propertyadjoins the south and west boundaries of claims that hosted the AgnicoMine.
Glencore Bucke/TeledyneProperty
Situated in Bucke Township, 6 km east-northeast ofCobalt, Ontario the Glencore Bucke Property adjoins, on its northeastcorner, the former cobalt producing Agaunico Mine. From 1905 throughto 1961, the Agaunico Mine produced a total of 4,350,000 lbs. ofcobalt (“Co”), and 980,000 oz of silver (“Ag”)(Cunningham-Dunlop, 1979). Theamount of cobalt produced from the Agaunico Mine is greater than thatof any other mine in the Cobalt Mining Camp. Production ceased in 1961 due to depressed Co prices and over-supply(Thomson, 1964). The Glencore property is 100% owned by Fuse Cobaltsubject to a back-in provision, production royalty and off-takeagreement.
The associated Teledyne Property, located in Bucke andLorrain Townships, consists of 5 patented mining claims totaling 79.1ha, and 46 unpatented mining claim cells totaling approximately 700ha. The Property is easily accessible by highway 567 and awell-maintained secondary road .
Over $25 million Can has been spent thus far, (2020dollars inflation-adjusted) on the Teledyne Property resulting invaluable infrastructure including a development ramp and a moderndecline going down 500 ft parallel to the main cobalt mineralizedvein. The Teledyne Property is subject to a production royalty infavor of New Found Gold and an off-take agreement in favor of GlencoreCanada Corp., while the Glencore Bucke Property is subject to aback-in provision, production royalty, and an off-take agreement infavor of Glencore Canada Corp. Glencore PLC is the world’s largestproducer of cobalt. Asignificant portion of the cobalt that was produced at the AgaunicoMine was located along structures (Vein #15) that extended southwardtowards the northern boundary of the Teledyne Cobalt Property, currently 100% owned by FUSE. Mineralization wasgenerally located within 125 ft (38.1 m) above the Huronian/Archeanunconformity. Stoping widths of up to 50 ft (15.2 m) were not unusualat the Agaunico Mine (Cunningham-Dunlop, 1979).
On Behalf of the Board ofDirectors
“Tim Fernback”
Tim Fernback, President &CEO
Contact Information:
Email: info@fusecobalt.com
Phone: 236-521-0207
Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
Cautionary Note Regarding Forward Looking Statements:This release contains forward-looking statements that involve risksand uncertainties. These statements may differ materially fromactual future events or results and are based on current expectationsor beliefs. For this purpose, statements of historical fact may bedeemed to be forward-looking statements. In addition,forward-looking statements include statements in which the Companyuses words such as “continue”, “efforts”, “expect”,“believe”, “anticipate”, “confident”, “intend”,“strategy”, “plan”, “will”, “estimate”, “project”,“goal”, “target”, “prospects”, “optimistic” or similarexpressions. These statements by their nature involve risks anduncertainties, and actual results may differ materially depending on avariety of important factors, including, among others, the Company’sability and continuation of efforts to timely and completely makeavailable adequate current public information, additional or differentregulatory and legal requirements and restrictions that may beimposed, and other factors as may be discussed in the documents filedby the Company on SEDAR (www.sedar.com), including the most recentreports that identify important risk factors that could cause actualresults to differ from those contained in the forward-lookingstatements. The Company does not undertake any obligation to reviewor confirm analysts’ expectations or estimates or to releasepublicly any revisions to any forward-looking statements to reflectevents or circumstances after the date hereof or to reflect theoccurrence of unanticipated events. Investors should not place unduereliance on forward-looking statements.
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