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Global Energy Metals Provides Update On Portfolio Companies

11.07.2024  |  The Newswire
Vancouver, July 11, 2024 - Global Energy Metals Corp. TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 ("Global Energy Metals", the "Company" and/or "GEMC"), a multi-jurisdictional, multi-commodity critical mineral exploration, development and project generating company focused on growth-oriented projects supporting the global transition to clean energy, is pleased to provide an update on the recent activities of its portfolio companies.

Through the monetization of non-core assets, GEMC has assembled a portfolio of high-quality, high-upside equity investments in industry peers providing our shareholders a diversified approach to the resource sector, multiple commodities and jurisdictions.

Metal Bank Ltd. (ASX:MBK) - GEMC holds 13,541,000 common shares

Australian Portfolio

  • Drilling program underway at the Millennium project in Queensland aimed at testing Fountain Range-Quamby Fault Zone potential and increasing existing Cu/Co Resources.

  • Note that GEMC holds a 49% interest in the Millennium project

  • Gold and REE potential to be reviewed at Livingstone and Nanular projects in WA

Jordan

  • Applications for two new copper exploration areas in Jordan have been submitted.

  • Initial field program completed over new copper porphyry target area in Jordan.

Saudi Arabia

  • Positive initial meetings held with Saudi Government departments - potential projects of interest identified.

  • MBK now engaging in Licensing Rounds for key exploration projects in Saudi Arabia.

For more information on the above developments please refer to MBK's June 4, 2024 ASX announcement.

High-Tech Metals Ltd. (ASX:HTM) - GEMC holds 2,500,000 common shares

  • HTM to commence desktop review of the Werner Lake Project compiling all available historical data and newly acquired data.

  • Desktop review to prepare for future exploration of the Weber Lake Project to unlock potential value.

  • Note that GEMC sold its 70% interest in Werner Lake as part of HTM raising AUD $4.718M on its IPO to the ASX in January 2023.

  • HTM to relinquish Ketete LCT Project in Ethiopia.

For more information on the above developments please refer to HTM's June 28, 2024 ASX announcement.

Electric Royalties Ltd. (TSXV:ELEC | OTCQB:ELECF) - GEMC holds 1,150,000 common shares

  • ELEC is a royalty company established to take advantage of the demand for a wide range of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper) that will benefit from the drive toward electrification of a variety of consumer products: cars, rechargeable batteries, large scale energy storage, renewable energy generation and other applications.

  • ELEC has a growing portfolio of 40 royalties in lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper across the world and interests in 32 lithium properties in Ontario, Canada.

  • ELEC is focused predominantly on acquiring royalties on advanced stage and operating projects to build a diversified portfolio located in jurisdictions with low geopolitical risk, which offers investors exposure to the clean energy transition via the underlying commodities required to rebuild the global infrastructure over the next several decades toward a decarbonized global economy.

For the most recent update on the royalties held by ELEC, including four projects held by GEMC (Millennium, Mount Dorothy, Cobalt Ridge and Råna), please visit their news release section of their website linked here.

Marquee Resources Ltd. (ASX:MQR) - GEMC holds 257,178 common shares

West Spargoville (WSP) & Yindi Projects

  • Ground gravity data acquisition, processing and interpretation has now been completed.

• Results from the surveys show good correlation between gravity low features and mapped pegmatites which have defined multiple new targets.

• The completion of the gravity surveys represents the final stage of remote sensing data acquisition as the Company moves towards the next phase of drill testing.

• The Company aims to complete ~3,000m of RC drilling at WSP in H1-FY2025.

• At Yindi, a 2,335-hole auger sampling is to commence followed by

up to ~5,000m of RC drilling in H1-FY2025 with a focus at Yindi being multiple, kilometre scale, gold in soil and lithium anomalies.

Reddings REE Project

  • Contractor mobilising to commence a further 2,000m RC drilling campaign to delineate a surficial mineral resource.

• The drill program follows previous drilling results which include:

o 5m @ 9,100ppm TREO from surface, inc. 2m @ 18,600ppm TREO from 2m (MQRC041).

o 14m @ 980ppm TREO from surface (MQRC170).

• Results from recent and historical work indicate the potential for multiple zones of shallow mineralisation.

For the most recent update on the portfolio of projects held by MQR please visit their announcements section of their website linked here.

Terra Balcanica Resources Corp. (CSE:TERA) - GEMC will, subject to regulatory approval, be compensated with the equivalent of C$150,000 in shares in Terra and granted a 0.5% NSR over the Saskatchewan based project portfolio on closing.

  • TERA entered into a definitive option agreement with a wholly owned subsidiary of Fulcrum Metals Plc., ("Fulcrum", AIM:FMET) to acquire a 100% interest in Fulcrum's uranium portfolio of exploration licences located in northern Saskatchewan, Canada and collectively encompassing 596.71 km2 of highly prospective ground for a uranium discovery.

  • The assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton.

For more information on the above developments please refer to TERA's July 3, 2024 news release and/or GEMC's July 3, 2024 news release.

Sceptre Ventures Inc. (TSXV:SVP) - GEMC holds 637,000 common shares

  • SVP is classified as a Capital Pool Company ("CPC") as defined in the TSX Venture Exchange (the "TSX-V") Policy 2.4 (the "CPC Policy").

  • The company's principal business will continue to be the identification and evaluation of assets or businesses with a view to completing a Qualifying Transaction.

  • No recent news to report.

In addition to the above noted securities held by GEMC, the Company has identified and is advancing a diversified pipeline of battery mineral project holdings in safe, top-tier mining jurisdictions providing investors a way to accelerate investment into the global market mega-trend opportunity.

Summary of Project and Subsidiary Company Holdings:

  • 100% ownership of U.S. Battery Minerals Corp., which holds an 100% interest in two battery mineral projects, the Lovelock Mine and Treasure Box Project located in Nevada, USA;

  • 100% interest in Element Minerals Australia Pty Ltd ACN 138 488 909, an Australian company that is the 49% beneficial owner of the Millennium Cobalt-Copper-Gold Project and 20% beneficial interest in two neighbouring discovery stage exploration-stage cobalt-copper-gold assets, Mt. Dorothy and Cobalt Ridge, all located in Mount Isa, Australia;

    • GEMC is free-carried as Metal Bank Ltd earns an 80% interest in Millennium.

    • GEMC is also free-carried on Mt. Dorothy and Cobalt Ridge until a Feasibility Study is produced by JV partner Hammer Metals.

  • 10% ownership of Narvik Nikel, which holds an 100% interest in the Råna Nickel-Copper-Cobalt project, Norway;

    • Kingsrose Mining has committed and is earning up to an 80% interest by spending $15 million in project expenditures.

    • For the most recent update on the portfolio of projects, including Råna, held by KRM please visit their media and announcements section of their website linked here

  • 50% interest in the Monument Peak Copper-Silver project in Idaho, USA; and

  • 50% interest in the Chance Lake and Amiral projects in Quebec, Canada.

Summary of Royalty Holdings:

  • 1% NSR royalty on the Råna Nickel-Copper-Cobalt project, Norway;

  • 1% NSR royalty on the Mount Dorothy project, Australia;

  • 1% NSR royalty on the Cobalt Ridge project, Australia; and

  • 0.5% NSR royalty on the Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton uranium projects, Canada (Closing pending - see above).

For Further Information:

Global Energy Metals Corporation

#1501-128 West Pender Street

Vancouver, BC, V6B 1R8

Email: info@globalenergymetals.com

t. + 1 (604) 688-4219

www.globalenergymetals.com

Twitter: @EnergyMetals | @USBatteryMetals | @ElementMinerals

Global Energy Metals Corporation

(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)

Global Energy Metals Corp. offers investment exposure to the growing rechargeable battery and electric vehicle market by building a diversified global portfolio of exploration and growth-stage battery mineral assets.

Global Energy Metals recognizes that the proliferation and growth of the electrified economy in the coming decades is underpinned by the availability of battery metals, including cobalt, nickel, copper, lithium and other raw materials. To be part of the solution and respond to this electrification movement, Global Energy Metals has taken a 'consolidate, partner and invest' approach and in doing so have assembled and are advancing a portfolio of strategically significant investments in battery metal resources.

As demonstrated with the Company's current copper, nickel and cobalt projects in Canada, Australia, Norway and the United States, GEMC is investing-in, exploring and developing prospective, scaleable assets in established mining and processing jurisdictions in close proximity to end-use markets. Global Energy Metals is targeting projects with low logistics and processing risks, so that they can be fast tracked to enter the supply chain in this cycle. The Company is also collaborating with industry peers to strengthen its exposure to these critical commodities and the associated technologies required for a cleaner future.

Securing exposure to these critical minerals powering the eMobility revolution is a generational investment opportunity. Global Energy Metals believes Now is the Time to be part of this electrification movement.

Cautionary Statement on Forward-Looking Information:

Certain information in this release may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with regulatory approvals and timelines. Although Global Energy Metals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

GEMC's operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.

For more information on Global Energy and the risks and challenges of their businesses, investors should review the filings that are available at www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

We seek safe harbour.

Copyright (c) 2024 TheNewswire - All rights reserved.


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