(TheNewswire)
Vancouver, Canada – TheNewswire - October 16, 2023 -New Age Metals Inc. (NAM) (TSXV:NAM ) ; ( OTC:NMTLF ) ; ( FSE:P7J) (“NAM” orthe “Company”) is pleased to announce that it has been approvedfor graduation from Tier 2 issuer status to Tier 1 issuer status bythe TSX Venture Exchange (“TSXV”). NAM will commence trading asa Tier 1 issuer on Wednesday October 18, 2023.
The TSXV classifies issuers into different tiers basedon certain standards including historical financial performance, stageof development and financial resources. Tier 1 is the TSXV’spremier tier and is reserved for the TSXV’s most advanced issuerswith the most significant financial resources.
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 Element division and a Lithium/RareElement division.
The PGE Division includes the 100% owned,multi-million-ounce, district-scale River Valley Project, one of NorthAmerica’s largest undeveloped Platinum Group Element Projects,situated 100 km by road east of Sudbury, Ontario. In addition to RiverValley, NAM owns 100% of the Genesis PGE-Cu-Ni Project in Alaska andplans to complete a surface mapping and sampling program in2023.
The Company’s Lithium Division is one of the largestmineral claim holders in the Winnipeg River Pegmatite Field, where theCompany is exploring for hard rock lithium and various rare elementssuch as tantalum, rubidium, and caesium. Further exploration plans for2023 include continued mapping/sampling field programs following up onthe anomalous results from the soil and rock samples collectedpreviously during summer 2023. In the Winter months, the Company plansto drill up to 15,000m on several of the Company’s projects. TheCompany has a partnership with Mineral Resource Limited (MinRes, ASX:MIN), a top global lithium producer to explore and develop theCompany’s lithium project portfolio in Southern Manitoba. The2023/24 budget is $7 million and is fully funded by MinRes.
In Northern Manitoba, the Company recently signed anoption/joint venture binding term sheet with Native Mineral Resourcesto develop the McLaughlin Lake Lithium Project. 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 venturepartner for our newly acquired Northman and South Bay Lithium Projectsin northern Manitoba, and its road-accessible Genesis PGE-Cu-NiProject in Alaska.
Investors are invited to visit the New Age Metalswebsite at www.newagemetals.com where they can review the company andits corporate activities. Any questions or comments can be directed toinfo@newagemetals.com or Harry Barr at Hbarr@newagemetals.com or Faraz Rasheedat Frasheed@newagemetals.com or call 613 659 2773.
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 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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