BOLT Metals Receives Confirmation of Title Registration and Provides Update
BOLT Metals Receives Confirmation of Title Registration and Provides Update
VANCOUVER, British Columbia, May 12, 2020 – Bolt Metals Corp. (CSE: BOLT) (FRANKFURT: NXFE)
(OTCQB: PCRCF) (the “Company” or “Bolt Metals”) is pleased to announce that the Cyclops Project
License is now registered in the database of the Directorate General of Minerals and Coal, Ministry of
Energy and Mineral Resources of the Republic of Indonesia with related physical documentation
expected shortly.
In spite of COVID‐19 related challenges, the Cyclops project site is secure with no known cases in the
direct project area. The Jakarta head office and the Sentani site camp and logistics base are operating
at reduced levels and field activities will recommence once the nationwide lockdown is lifted.
The Company will continue to monitor the situation and act within the guidelines and
recommendations of the provincial, territorial, and federal governments in which it operates.
While movement is temporarily restricted the Company continues to advance its business activities
from offices in Vancouver, Jakarta and Shanghai. These include:
‐ Evaluating and optimizing exploration data in preparation for an active upcoming field season
on our flagship Cyclops nickel‐cobalt project.
‐ Preparations for the development of a pilot process test plant in Canada, which will contain
an integrated circuit to produce high purity nickel and cobalt strip solutions, required to
develop energy storage grade material.
‐ Ongoing dialogue with key industry players in China, Indonesia and Korea with a focus on
securing supply contracts with downstream users and commodity suppliers to the
international energy storage and EV battery space.
‐ Continued negotiations with Hunan Jinxin New Material Co., Ltd. (announced March 5, 2020)
and Beijing Easpring, one of China’s leading battery metals suppliers, with the goal of signing
definitive offtake and/or investment agreements.
Indonesia’s leadership in nickel production, proximity to Asia, and its recent strategic moves to
become a dominant player in the EV supply chain, has positioned the country as a primary global
supplier of critical battery cathode material, specifically nickel.
There are at least five nickel processing plants currently under construction in Indonesia (Reuters
article January 8, 2020). Spending on new plants is expected to total $20‐billion (U.S.) by 2024,
supported by the Indonesian government's determination to create a world‐leading EV supply chain.
The Company’s flagship Cyclops laterite nickel‐cobalt property, located on the north shores of Papua
Province, Indonesia, features environmental and mining permits, comprehensive infrastructure
including year‐round sealed road access, close proximity to air and sea transport links, gentle
topography and an experienced local workforce.
During 2019 the Company carried out an extensive exploration and development program at Cyclops,
and achieved successful results outlining significant nickel mineralization in drilling and mini bulk
sampling.
Ranjeet Sundher, CEO of Bolt Metals Corp., remarks “While the pandemic has placed an enormous
strain on the global economy, we are encouraged by Indonesia’s determination and plan to become
a global hub for the production of material for the energy storage sector locally, and throughout Asia.
The past 18 months of exploration and development on Cyclops has produced a robust project
dataset, which will be used to advance our strategic initiatives in Indonesia, Asia and Canada. We are
looking forward to resuming full operations with the ultimate goal of becoming a key player in the
development of Asia’s battery materials supply chain.”
About Bolt Metals
BOLT Metals is a Canadian‐based exploration company focused on the acquisition and development
of production grade nickel and cobalt deposits, key raw material inputs for the growing lithium‐ion
battery industry. Visit https://boltmetals.com/ to find out more.
Bolt Metals Corp.
Ranjeet Sundher – President and CEO
(604) 922‐8272
Steve Vanry – CFO & Director
(604) 922‐8272
Sean Bromley – Director & Investor Contact
(778) 985‐8934
Reader Advisory
This news release may contain statements which constitute “forward‐looking information” that are
subject to risks and uncertainties. All statements herein, other than statements of historical fact, are
to be considered forward‐looking, including statements regarding the plans, intentions, beliefs and
current expectations of the Company, its directors, or its officers with respect to the future business
activities of the Company and with respect to the results of exploration and prospective plans in
regards to the Cyclops project. The words “may”, “would”, “could”, “will”, “intend”, “plan”,
“anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company,
or its management, are intended to identify such forward‐looking statements. Although the Company
believes the expectations expressed in such forward‐looking information are based on reasonable
assumptions, such information is not a guarantee of future performance and actual results or
developments may differ materially from those contained in forward‐looking information. Information
provided in this document is necessarily summarized and may not contain all available material
information. Although Bolt Metals has attempted to identify important factors that could cause actual
results, performance or achievements to differ materially from those contained in the forward‐looking
statements, there can be other factors that cause results, performance or achievements not to be as
anticipated, estimated or intended. Factors that could cause actual results to differ materially from
those in forward‐looking information include, but are not limited to, fluctuations in market prices,
success of the operations of the Company, continued availability of capital and financing and general
economic, market or business conditions. There can be no assurances that such information will prove
accurate and, therefore, readers should not place undue reliance on forward‐looking statements. The
forward‐looking statements in this news release are made as of the date of this news release, and the
Company does not assume any obligation to update any forward‐looking information except as
required under the applicable securities laws.
Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of
Canada accepts responsibility for the adequacy or accuracy of this release.