Green, Clean, Reduce, Reuse, Recharge! GREEN BATTERY MINERALS Mobilizes to Berkwood Graphite Property, Québec, to undertake 5th Drill Program and Announces Private Placement for Up To $525,000
2200 – 1250 Rene Levesque Blvd. Montreal, QC, H3B 4W8
Phone: (438) 469-0705
#1100 - 1111 Melville Street, Vancouver, BC, V6E 3V6 Phone:
(604) 343-7740
Email: [email protected] Website: www.greenbatteryminerals.com
Green, Clean, Reduce, Reuse, Recharge!
GREEN BATTERY MINERALS Mobilizes to Berkwood Graphite
Property, Québec, to undertake 5th Drill Program and
Announces Private Placement for Up To $525,000
November 9th, 2021, VANCOUVER, B.C. Green Battery Minerals Inc. (“Green Battery” or
the “Company”) (TSX-V: GEM, FSE: BK2P, WKN: A2QENP OTC: GBMIF) is pleased to
announce that it has mobilized a Québec based drill contractor to commence additional drilling at
Zone 1 and Zone 6 of it’s 100% owned Berkwood Graphite Project. The program is intended to
further define the extent and gr ade of the Zone 1 graphite disc overy and to carry out an initial
drilling of the Zone 6 EM anomaly which has previously been con firmed with grab and channel
samples on surface.
The Company has previously completed four drill programs that h ave been completed on Zone 1
for a total of 6,085 meters in 44 drillholes. All 44 holes contained graphite mineralization with 43
of the holes intersecting signi ficant zones of graphite enrichm ent. These intersections support an
evolving structural model of multiple recumbently folded graphi tic horizons hosting thick and
apparently continuous graphitic intervals of compelling grade and true thickness.
Goldminds Geo-Services Inc., who carried out the previous resou rce estimate at the Zone 1
deposit, has been retained to provide an updated resource estim ate across shallower (80-100m)
parts of the zone 1 deposit. The Company focus is on defining o pen-pit mineable, low strip ratio
and high value graphite (coarser flake size and more readily re coverable). The targeted depth is
similar to that undertaken by Mason Graphite for its planned open-pit development.
The Zone 1 discovery lies 8 km southwest of Mason Graphite’s de posit which is the subject of a
current feasibility study. The Company believes its Zone 1 deposit and that of Mason share many
similar geological characteristics with the Zone 1 deposit bein g one of the highest-grade graphite
deposits in the world. Mason is concluding its permitting proce ss to start development following
a successful feasibility study completed in 2018 . This may likely further benefit Green Battery
GBM NR Drill Mobilization 20211028 Page 1
Mineral’s project development as commissioning of an adjacent m ine will likely provide
development of district area infrastructure.
Figure 1: Overview of the Zone 1 and Zone 6 Deposits and proximity to the adjacent development and infrastructure.
GBM NR Drill Mobilization 20211028 Page 2
Figure 2: Perspective view facing north of the Zone 6 exploration target, Zone 6 Resource, and Mason Graphite Project.
Tom Yingling, President and CEO of Green Battery states “After years of st udy at the Zone 1
deposit and fieldwork across our other targets, we are extremely excited to get another drill
turning again to expand on what we’ve learned so far and continue to explore and develop these
graphite discoveries. Drilling at Zone 6 is partic ularly exciting as the shape and intensity of the
EM anomaly is similar in nature to that of Zone 1 and has already been proven to contain high
grade graphite which has been sampled on surface. We look forward to releasing complete results
from this campaign early in the new year and updating our investors as this exciting new phase of
exploration develops.”
Fall 2021 Work Program
The proposed drill program is expected to include approximately 2500-3000m of HQ drilling in
approximately 25 holes targeting surface potential resources wi thin 100m of the surface. Drilling
will commence in Zone 6 where the vertical continuity and orien tation of previously sampled
graphite outcrops will be tested at depth. The extent of the dr illing program at Zone 6 will be
determined based on the success of the initial exploration campaign before switching the drilling
focus to Zone 1.
GBM NR Drill Mobilization 20211028 Page 3
Figure 3: Zone 6 Drilling areas with trench/channel sample results from high-grade outcrop locations.
At Zone 1 additional step-out expansion drilling will focus on expanding potential resources within
the 100m of surface to optimize a favourable near surface/low s trip ratio mining scenario, some
existing resource areas will also be infilled to improve resource confidence. Particular attention is
to be focused on existing known resource areas of high value and near surface graphite enrichment.
Further technical analysis is c urrently underway by our excelle nt technical team at Longford
GBM NR Drill Mobilization 20211028 Page 4
Exploration Services, under the guidance of Green Battery’s tec hnical advisors on how to best
allocate the budgeted metres within the Zone 1 resource area.
Both at Zone 1 and Zone 6 graphite outcrops at the surface, meaning there is likely a future mining
scenario where waste rock removal and less environmental disruption is conceivable. This would
furthermore facilitate rapid reclamation and remediation during mine closure. These qualities may
also favourably improve the economics of the project significan tly and allow us to maintain our
environmentally friendly business model. Green Battery also re mains delighted at how it will
benefit from extensive existing infrastructure, including hydro electric power, year-round
maintained highways, and a local skilled workforce. All our pro perties are road accessible and
there are existing accommodation facilities nearby. All these f actors help make our program
greener, cleaner and maintains the Companies strong ESG mandate.
Qualified Person: Alexander Beloborodov (P.Geo ) is a Qualified Person ( “QP”) as defined by
National Instrument 43-101 guidelines, and he has reviewed and approved the technical content of
this news release.
The Company is pleased to announce that it is conducting a non- brokered private placement
consisting of the issuance of up to 3,500,000 flow-through units (each, a “Flow-Through-Unit”)
at a price of $0.15 per Flow-Through-Unit for gross aggregate p roceeds of up to $525,000
(the “Offering”). Each Flow-Through-Unit will consist of one common share in the capital of the
Company that is issued on a flow-through basis in accordance wi th the Income Tax Act (Canada)
(each, a “Flow-Through-Share”) and one half of one share purchase warrant (each whole warrant,
a “Warrant”), with each Warrant entitling the holder thereof to purchase one (non-flow-through)
common share in the capital of the Company (each, a “ Warrant Share”) at a price of $0.20 per
Warrant Share for a period of twenty four months following issuance.
The proceeds from the Offering are expected to be used for Cana dian exploration expenses and
will qualify as flow-through mining expenditures, as defined in Subsection 127(9) of the Income
Tax Act (Canada), which will be renounced to the subscribers with an ef fective date no later than
December 31, 2021, to the initial purchasers of the Flow-Throug h Units in an aggregate amount
not less than the gross proceeds raised from the issue of the f low-through shares, as applicable,
and, if the qualifying expenditures are reduced by the Canada Revenue Agency, the Company will
indemnify each subscriber for any additional taxes payable by s uch subscriber as a result of the
Company’s failure to renounce the qualifying expenditures as agreed. Net proceeds will be used
for costs associated with the continued exploration/drill progr am and reports for a planned PEA
for the Berkwood Graphite project.
Finder’s fees and commissions may be payable in connection with the Offering in accordance
with the policies of the TSX Venture Exchange (the “Exchange”). All securities issued in
connection with the Offering will be subject to a statutory hold period expiring four months and
one day after closing of the Offering. Completion of the Offering is subject to a number of
conditions, including, without limitation, receipt of all regulatory approvals, including approval
of the Exchange.
GBM NR Drill Mobilization 20211028 Page 5
None of the securities to be issued in connection with the Offering will be or have been registered
under the United States Securities Act of 1933 , as amended (the “ 1933 Act”), and none may be
offered or sold in the United States absent registration or an applicable exemption from the
registration requirements of the 1933 Act. This press release is being issued pursuant to Rule 135c
of the 1933 Act and shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall
there be any sale of the securities, in any state where such of fer, solicitation or sale would be
unlawful.
About the Company: Green Battery Minerals is managed by a team with over 150 years o f
collective experience with a proven track record of not just fi nding numerous mines but building
and operating them as well. The Green Battery Minerals management team’s most recent success
is discovering the Berkwood graphite deposit in Northern Québec . Green Battery Minerals owns
100% of this asset and the Company’s shareholders will benefit from this asset as the demand for
graphite for electric vehicles increases significantly.
On Behalf of the Board of Directors
Green Battery Minerals lnc.
‘Thomas Yingling’
President, CEO & Director
FOR MORE INFORMATION, PLEASE CONTACT:
Investor Relations:
or 1-604-343-7740
[email protected] www.greenbatteryminerals.com
Disclaimer for Forward-Looking Information:
Certain statements in this document which ar e not purely historical are forward-looking
statements, including any statements regarding beliefs, plans, expectations or intentions regarding
the future. Forward looking statem ents in this news release incl ude that the Company will carry
out the drill program described in this news release, conduct the Offering and expend funds on
Berkwood Graphite Project exploration. It is important to note that the Company's actual business
outcomes and exploration results c ould differ materially from t hose in such forward-looking
statements. Risks and uncertainties include that further permits may not be granted timely or at
all; the mineral claims may prove to be unworth y of further expenditure; there may not be an
economic mineral resource; methods we thought would be effective may not prove to be in practice
or on our claims; economic, competitive, governmental, environmental and technological factors
may affect the Company's operations, markets, products and prices; our specific plans and timing
drilling, field work and other plans may change; we may not have access to or be able to develop
any minerals because of cost factors, type of terrain, or availability of equipment and technology;
and we may also not raise sufficient funds to carry out our plans. Additional risk factors are
discussed in the section entitled "Risk Factors" in the Company's Management Discussion and
GBM NR Drill Mobilization 20211028 Page 6
Analysis for its recently comp leted fiscal period, which is av ailable under Company's SEDAR
profile at www.sedar.com. No assurance can be gi ven that any of the events anticipated by the
forward-looking statements will occur or, if they do occur, what benefits the Company will obtain
from them. These forward-looking statements reflect management’s current views and are based
on certain expectations, estimates and assumptions , which may prove to be incorrect. Except as
required by law, we will not update these forward-looking statement risk factors.
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.