(TheNewswire)
August 30, 2022 – TheNewswire - Rockport, Ontario - New Age Metals Inc. (TSXV:NAM ) ; ( OTC:NMTLF ) ; ( FSE:P7J.F) (“NAM” orthe “Company”) in conjunction with its partner Mineral ResourcesLtd. is pleased to announce that it has increased its land position inthe highly prospective Winnipeg River Pegmatite Field from 11,620 to21,611 hectares adding 8984 new hectares, (90 square kilometers)through claim staking.
Newly acquired properties:
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Bird River Lithium claim block with 17 claims (3114 ha)hosting the Lac du Bonnet Pegmatite Group and the Shatford LakePegmatite Group.
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20 claims (4101 ha) to the East and West of Lithium Onewhich hosts the extension of the Greer Lake Pegmatite Group.
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8 claims (1769 ha) added to its existing Lithman Eastproperty hosting the Birse Lake Pegmatite Group.
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New Age Metals is the largestclaimholder in the Winnipeg River Pegmatite Field with 11 propertiestotalling 21,611 ha
The expanded land position, identified from historicaldata compilation and review incorporates prospective trends andpegmatite groups with the potential to host lithium, cesium, andtantalum bearing pegmatites. The newly acquired land holdings arecontiguous with existing claims as seen in Figure 1. The Company’s $1.8 million dollarexploration budget for 2022 includes geophysics and prospecting overportions of these new holdings.
Figure 1 :New Age Metals ClaimsMap
New Age Metals is the largestclaimholder in the Winnipeg River Pegmatite Field with 11 propertiestotalling 21,611 ha . The Winnipeg RiverPegmatite Field is host to numerous Lithium-rich Pegmatites inaddition to the world-class Tanco Pegmatite, a highly fractionatedlithium-cesium-tantalum (LCT) type pegmatite that has been mined atthe Tanco Mine as an underground operation since 1969 for tantalum,cesium, and lithium.
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 inQ3-2022. In addition to River Valley, theCompany owns 100% of the Genesis PGM-Cu-Ni Project in Alaska and isworking towards securing a option/ joint venture partner to helpdevelop this road accessible drill ready 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. Further Exploration plansfor 2022 include continued mapping/sampling field program following upon prospective trends outlined in the magnetic data, a maiden drillprogram on the Lithium One Project, and phase two drill program at Lithium Two Project. The companyhas a partnership with Mineral Resource Limited (MRL, ASX: MIN), oneof the top 5 global lithium producers to explore and develop theCompany’s lithium project portfolio. The 2022 budget for theCompany’s Lithium Division is $1.8 million.
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 Farid Mammadov atfaridm@newagemetals.com orcall 613 659 2773.
The technical information in this news release has beenreviewed and approved by Lynde Guillaume (Senior Geologist, AxiomExploration Ltd.), a Qualified Person, and a Professional Geoscientist(P.Geo) who is a registered member of the ‘Engineer and Geosciencesof Manitoba' (no. 47952).
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 on current expectations orbeliefs. For this purpose, statements of historical fact may be deemedto be forward-looking statements. In addition, forward-lookingstatements include statements in which the Company uses 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 review orconfirm analysts’ expectations or estimates or to release publiclyany revisions to any forward-looking statements to reflect events orcircumstances after the date hereof or to reflect the occurrence ofunanticipated events. Investors should not place undue reliance onforward-looking statements.
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