New Energy Metals Signs Letter of Intent Regarding Sale of Partial Interest IN Cristal Copper Project Appoints New Chief Financial Officer
#2300 – 1177 West Hastings Street, Vancouver, BC, Canada, V6E 2K3
Phone: 604-484-1232 / Fax: 604-408-7499
NEW ENERGY METALS SIGNS LETTER OF INTENT REGARDING SALE OF
PARTIAL INTEREST IN CRISTAL COPPER PROJECT
APPOINTS NEW CHIEF FINANCIAL OFFICER
NR18-17 November 16, 2018
Vancouver, B.C. – New Energy Metals Corp. ("New Energy Metals" or the "Company")
( T S X . V : E N R G ) ( O T C : N E M C F ) a n n o u n c e s t h a t i t h a s s i g n e d a l e t t e r o f i n t e n t ( t h e " L e t t e r o f
Intent") with Wealth Minerals Ltd. ("WML"), whereby WML or its wholly-owned subsidiary
(collectively, "Wealth") can acquire a 70% interest in the Comp any's Cristal copper project
(the "Project") located in northern Chile.
Letter of Intent
The Company, through its wholly-owned Chilean subsidary, has an option to acquire a 100%
interest in the Project pursuant to an option agreement entered into with a third-party vendor
(see news release dated March 1, 2018).
Subject to satisfactory completion of due diligence by Wealth a nd acceptance by the TSX
Venture Exchange of the transaction contemplated by Letter of I ntent, the parties expect to enter
into a definitive assignment and assumption agreement (the "Ass ignment Agreement") for the
assignment of a 70% interest in the Project to Wealth upon term s to be agreed upon by the
parties.
Appointment of New Chief Financial Officer
The Company also announces the appointment of David Cross and t he resignation of Blaine
Bailey as the Company's Chief Financial Officer, effective December 1, 2018.
Mr. Cross is a CPA, CGA and is currently a partner at Cross Dav is & Company LLP, Chartered
Professional Accountants, which pr ovides accounting and consult ing services to publicly traded
companies. Mr. Cross has over 21 years of accounting experienc e and has been a partner of
Cross Davis for eight years.
The Company also announces that it has relinquished its option to acquire its Atacama lithium
project, located in the Salar de Atacama district, Chile (see n ews release dated May 30, 2018).
The lithium project will no longer represent a financial obliga tion for the Company, which will
allow New Energy Metals to focus on entering into strategic agr eements and acquiring projects
that deliver the highest shareholder value.
NR18-17 Continued 2 November 16, 2018
About the Company
New Energy Metals is focused on the exploration and development of energy metals in Chile.
The Company's assets include the Cristal copper project located in northern Chile and several
prospective cobalt projects in Chile's past producing San Juan cobalt district.
On behalf of New Energy Metals Corp.
Marla Ritchie, Corporate Secretary
T: 604.638.3886
W: www.newenergymetals.ca
Neither the TSX Venture Exchange nor its Regulation Services Pr ovider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-
looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the
United States Private Securities Litigation Reform Act of 1995 . All statements, other than statements of historical
fact, included herein including, without limitation, the Company's expectation that it will be able to enter into the
Assignment Agreement, the anticipated content, commencement, timing and cost of exploration programs in respect
of the Company's projects and otherwise, anticipated re sults from exploration activities, the Company's expectation
that it will be able to obtain the necessary permits to exploit, develop, produce and export copper, cobalt or lithium,
and the anticipated business plans and timing of future activities of the Company, are forward-looking statements.
Although the Company believes that such statements are reasonable, it can give no assurance that such expectations
will prove to be correct. Forward-looking statements are typically identified by words such as: "believes",
"expects", "anticipates", "intends", "estimates", "plans", "may", "should", "potential", "scheduled", or variations of
such words and phrases and similar expressions, which, by th eir nature, refer to future events or results that may,
could, would, might or will occur or be taken or achieved.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to differ materially from any future results,
performance or achievements expressed or implied by th e forward-looking information. Such risks and other
factors include, among others, the ability of the Company to obtain sufficient financing to fund its business activities
and plans, operating an d technical difficulties in connection with mi neral exploration and development and mine
development activities for the Company's projects generally, actual resu lts of exploration activities, the timing and
amount of estimated future production, costs of production, capital expenditures, requirements for additional
capital, future prices of precious metals, copper and lith ium, changes in general economic conditions, changes in
the financial markets and in the demand and market price for commodities, possible variations in ore grade or
recovery rates, possible failures of plants or processes to operate as anticipated, other risks of the mining industry,
the inability to obtain any necessary governmental and re gulatory approvals (includi ng acceptance by the TSX
Venture Exchange for the filing of the Assignment Agreement), permits or financing or in the completion of
development or construction activities, changes in laws , regulations and policies a ffecting mining operations,
hedging practices, currency fluctuations, title disputes or cl aims limitations on insurance coverage, risks related to
joint venture operations, and risks related to the integration of acquisitions, as well as those factors discussed under
the heading "Risks and Uncertanties" in the Company's most recent management's discussion and analysis and
other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the
Company's profile on the SEDAR website at www.sedar.com.
NR18-17 Continued 3 November 16, 2018
Readers are cautioned not to place undue reliance on forward looking statements. Except as otherwise required by
law, the Company undertakes no obligation to update any of the forward-looking information in this news release or
incorporated by reference herein.