(TheNewswire)
May 26th, 2022 – TheNewswire- Rockport, Ontario - New Age Metals Inc.(TSXV:NAM ) ; ( OTC:NMTLF ) ; ( FSE:P7J.F) (“NAM” or the “Company”) is pleased toreport that the company’s partner Mineral Resources Limited hasapproved the 2022 exploration budget and program for its ManitobaLithium division.
Harry Barr, Chairman & CEO stated, “We are happyto have received approval for the 2022 exploration program from ourpartner, Mineral Resources Limited. This budget is the largest to datefor our Lithium Division and will include a comprehensive explorationprogram covering multiple properties. With the support of our partner,Mineral Resources Limited, we are looking forward to the advancementof our projects this coming season. ”
NAM’s 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, cesium and rubidium.
The 2022 exploration program includes a second drillprogram on the Company’s Lithium Two Project and initial drillprogram on the Lithium One Project. The 2 drill programs will be partof a comprehensive exploration plan set to commence in spring 2022that includes:
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Satellite Data Acquisition and Analysis on all claimareas
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A multivariate exploration approach, combining existinggeological, geochemical, and geophysical data with multiple satelliteanalyses to identify new and potential mineral targets.
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Helicopter-Borne Tri-Axial Magnetic Surveying onprospective ground not already covered by the 2021 surveys
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Summer mapping and prospecting program to ground truthareas of interest identified from both the geophysical surveys and thesatellite analysis in conjunction with verifying historical data
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Phase 2 drilling of the Eagle Pegmatite to follow-up onthe successful results of the 2021 drilling on the Lithium TwoProject.
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Diamond drilling of the ‘Silverleaf’ target on theLithium One Project.
About NAM
New Age Metals is a junior mineral exploration anddevelopment company focused on the discovery, exploration, anddevelopment of green metal projects in North America. The Company hastwo divisions: a Platinum Group Metals division and a Lithium/RareElement division.
The PGM Division includes the 100% owned,multi-million-ounce, district scale River Valley Project, one of NorthAmerica’s largest undeveloped Platinum Group Metals Projects,situated 100 km by road east of Sudbury, Ontario. The Company completed a positivePreliminary Economic Assessment on the Project in 2019 and, is fullyfinanced to complete a Pre-Feasibility Study on the Project in2022. In addition to River Valley, the Companyowns 100% of the Genesis PGM-Cu-Ni Project in Alaska and has plans tocomplete a surface mapping and sampling program in 2022.
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. Theplans for 2022 include additional geophysical surveys and a maidendrill program on the Lithium One Project, phase two drill program atLithium Two Project, and a field program to follow up prospectivetargets identified on the five grids completed in the 2021 geophysicalsurveys to identify additional drill targets. On September 28, 2021,the Company announced a partnership with Mineral Resource Limited(MRL, ASX: MIN), the world’s fifth largest lithium producer toexplore and develop the Company’s lithium project portfolio.
Our philosophy is to be a project generator with theobjective of optioning our projects with major and junior miningcompanies through to production. The Company is actively seeking anoption/ joint venture partner for its road-accessible GenesisPGM-Cu-Ni project in Alaska.
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.
The technical information in this news release has beenreviewed and approved by Matthew Schwab, P.Geo. (Senior VicePresident, Axiom), who is a “Qualified Person” for the Company asdefined under National Instrument 43-101 - Standards of Disclosure forMineral Projects ("NI 43-101").
If you have not done so already, we encourage you tosign up on our website ( www.newagemetals.com ) to receive our updated news.
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 from actualfuture events or results and are based oncurrent expectations or beliefs. For this purpose, statements ofhistorical fact may be deemed to be forward-looking statements. Inaddition, forward-looking statements include statements in which theCompany uses words such as “continue”, “efforts”,“expect”, “believe”, “anticipate”, “confident”,“intend”, “strategy”, “plan”, “will”, “estimate”,“project”, “goal”, “target”, “prospects”,“optimistic” or similar expressions. These statements by theirnature involve risks and uncertainties, and actual results may differmaterially depending on a variety of important factors, including,among others, the Company’s ability and continuation of efforts totimely and completely make available adequate current publicinformation, additional or different regulatory and legal requirementsand restrictions that may be imposed, and other factors as may bediscussed in the documents filed by the Company on SEDAR(www.sedar.com), including the most recent reports that identifyimportant risk factors that could cause actual results to differ fromthose contained in the forward-looking statements. The Company doesnot undertake any obligation to review or confirm analysts’expectations or estimates or to release publicly any revisions to anyforward-looking statements to reflect events or circumstances afterthe date hereof or to reflect the occurrence of unanticipated events.Investors should not place undue reliance on forward-lookingstatements.
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