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January 12, 2021 – TheNewswire- Rockport, Canada – New Age Metals Inc. (NAM)(TSXV:NAM ) ; ( OTC:NMTLF ) ; ( FSE:P7J) (“NAM” or the “Company”) New Age Metalsannounces results from the surface prospecting activities at its 100%owned Lithium One Project near Lac du Bonnet, Manitoba. The projectwas co-funded by the Manitoba Chamber of Commerce’s administeredManitoba Mineral Development Fund (MMDF). Work completed on theProperty in the fall months of 2020 consisted of field rock samplingand geological mapping. Reported herein are the assay results for grabsamples testing the Silverleaf Pegmatite, Greer Lake Quarry, and otherlocations on the Lithium One Project (Table 1).
Table 1: 2020 Silverleaf assayresult highlights from grab samples.
Sample | Li 2 O(%) | Rb 2 O(%) | Cs 2 O(%) |
171878 | 0.03 | 0.13 | 0.00 |
171879 | 3.12 | 0.13 | 0.02 |
171880 | 0.15 | 0.11 | 0.00 |
171881 | 0.05 | 0.02 | 0.00 |
171882 | 1.43 | 1.06 | 0.08 |
171883 | 2.06 | 0.87 | 0.06 |
171886 | 1.40 | 0.47 | 0.05 |
171887 | 2.39 | 1.81 | 0.26 |
171888 | 2.82 | 2.15 | 0.31 |
171889 | 0.16 | 0.17 | 0.01 |
171890 | 1.93 | 0.49 | 0.04 |
Figure 1: Newer outcrop exposureof spectacular Spodumene-Lepidolite mineralization atSilverleaf.
Mineral prospecting activities in the fall of 2020focused on Silverleaf Zone and Greer Lake Quarry (Figures 2, 3, and4). The purpose of the field work was to examine possible extensionsof the Silverleaf Pegmatite and the Greer Lake Pegmatite Quarry. Atotal of 75 field samples were collected.
Figure 2: NAM Lithium One Silverleafand Greer Lake Locations
Decreasing water levels around the Silverleaf lithiumshowing have exposed newer outcrops of the Silverleaf mineralization,thus widening and lengthening the known surface extent of theSilverleaf Pegmatite (Figure 3). Geological mapping at theSilverleaf Pegmatite infers that the pegmatite has a southwest shallowdipping plunge. The exposed surface area of the lithium showing nowmeasures 40 meters wide in plan-view and over 100 meters in strikelength. The showing remains open to the northwest and southeast withpotential of extension under the wetland and/or host mafic volcaniccountry rock. Drilling isrecommended to confirm strike and depth continuity.
Figure 3: Silverleaf PegmatiteShowing and potential continuity.
Samples collected from the SilverleafLithium showing in 2018 yielded assays up to 4.07 % Li and 1.9% Rb,with anomalous Cs and Ta (see press release dated November 13th, 2018 ).
At the Greer Lake feldspar quarry, grab samplingreturned anomalous assays up to 0.13% Li2O and 0.38% Rb2O. The brieffield review of the pegmatites on the southern portion of the propertyyielded low levels of lithium from the field samples but wereinteresting enough to suggest that there may be potential to discovermore lithium rich sections. Further surface exploration is recommended for the southernregion. Mapping of the quarry for its mineralpotential confirms the area requires additional prospecting to confirmif other pegmatites in the direct area are of the favoredLithium-Cesium-Tantalum (LCT) pegmatite variety and if there arelithium rich zones within the current quarry excavation (Figure 1).This quarry was mined in the 1950’s for beryllium.
Figure 4: Greer Lake Quarry GrabSampling with Assay Highlights
The Company’s technical crew had a mandate to provide field trainingin safety, prospecting, and basic geology to the First Nationscontractor, the Twohearts Foundation (TF). The Company and TF werehappy to collaborate on this phase of exploration. Mr. Ruben Twoheartstated, “We hope to apply the skills and methods from our time spentin the field to future projects and grow as a trusted geologicalconsultant in Manitoba.”
Assay Procedures
Field samples were sent to the SRC GeoanalyticalLaboratories in Saskatoon, Saskatchewan. 75 field samples wereprocessed and analysed using an ICP-MS technique with a total and apartial digestion. The lab did a repeat assay ever 40 samples
About NAM
New Age Metals is ajunior mineral exploration and development company focused on thediscovery, exploration and development of green metal projects inNorth America. The Company has two divisions; aPlatinum Group Metals division and a Lithium/Rare Element division.The PGM division includes the 100% owned, multi-million-ounce,district scale River Valley Project, one of North America’s largestundeveloped Platinum Group Metals Projects, situated 100 km fromSudbury, Ontario. The Company has recently completed a PreliminaryEconomic Assessment on the project and is working towardsPrefeasibility. In Alaska the Company owns 100% of the GenesisPGM-Cu-Ni Project. The Lithium division is one of the largest mineralclaim holders in the Winnipeg River Pegmatite Field, where the Companyis exploring for hard rock lithium and various rare elements such astantalum and rubidium. Our philosophy is to be a project generatorwith the objective of optioning our projects with major and juniormining companies through to production. The Company is actively seeking an option/joint venture partner for its road-accessible Genesis PGM-Cu-Niproject in Alaska and for our Lithium division in Manitoba.
Investors are invited to visit theNew Age Metals website at www.newagemetals.com where they can reviewthe company and its corporate activities. Any questions or commentscan be directed to info@newagemetals.com or Harry Barr at Hbarr@newagemetals.com or Cody Hunt at Codyh@newagemetals.com or call 613 659 2773.
Qualified Person
The contents contained herein that relate toExploration Results has been reviewed by Carey Galeschuk, P. Geo (aconsulting geoscientist for New Age Metals). Mr. Galeschuk is theQualified Person as defined by National Instrument 43-101 and hasreviewed and approved the technical content of this news release withregard to technical aspects of the NAM Lithium Division.
On behalf of the Board of Directors
“ Harry Barr”
Harry G. Barr
Chairman and CEO
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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