Fuse Battery Metals Grants Stock Options
FUSE BATTERY METALS INC.
3028 Quadra Court
Coquitlam, BC V3B 5X6
Phone : (236) 521-0207
FuseCobalt.com
Fuse Battery Metals Grants Stock Options
PRESS RELEASE
Coquitlam, BC – February 2, 2023 – Fuse Battery Metals Inc. (formerly “Fuse Cobalt Inc.”) (“the
Company“ or “Fuse”) (TSXV: FUSE, OTCQB: FUSEF FRA:43W3) ”) announces the grant of stock
options exercisable to purchase an aggregate of 2,250,000 common shares of the Company to certain
directors and officers. The stock options are granted pursuant to the terms of the Company’s stock
option plan, and the requirements of the TSX Venture Exchange. The Stock options are exercisable
at a price of $0.0525 per share for a period of five years from the grant date.
The stock options granted are subject to a four‐month and a day hold period expiring on June 3, 2023,
in accordance with applicable Canadian Securities Laws.
About Fuse Battery Metals Inc. (formerly “Fuse Cobalt Inc.”) https://fusecobalt.com/
Fuse Battery Metals Inc. is a Canadian based exploration company that trades under the symbol FUSE
on the TSX Venture Exchange. The Company's focus is on exploration for high value metals required
for the manufacturing of batteries.
Ontario Cobalt Properties
Fuse owns a 100% interest its Glencore Bucke Property, situated in Bucke Township, 6 km east‐
northeast of Cobalt, Ontario, subject to a back‐in provision, production royalty and off‐take
agreement. The Glencore Bucke Property consists of 16.2 hectares and sits along the west boundary
of Fuse’s Teledyne Cobalt Project. The Company also owns a 100% interest, subject to a royalty, in
the Teledyne Project located near Cobalt, Ontario. The Teledyne Property adjoins the south and west
boundaries of claims that hosted the Agnico Mine.
Glencore Bucke/Teledyne Property
Situated in Bucke Township, 6 km east‐northeast of Cobalt, Ontario the Glencore Bucke Property
adjoins, on its northeast corner, the former cobalt producing Agaunico Mine. From 1905 through to
1961, the Agaunico Mine produced a total of 4,350,000 lbs. of cobalt (“Co”), and 980,000 oz of silver
(“Ag”) (Cunningham‐Dunlop, 1979). The amount of cobalt produced from the Agaunico Mine is
greater than that of any other mine in the Cobalt Mining Camp. Production ceased in 1961 due
to depressed Co prices and over‐supply (Thomson, 1964). The Glencore property is 100% owned by
Fuse Battery subject to a back‐in provision, production royalty and off‐take agreement.
The associated Teledyne Property, located in Bucke and Lorrain Townships, consists of 5 patented
mining claims totaling 79.1 ha, and 46 unpatented mining claim cells totaling approximately 700 ha.
The Property is easily accessible by highway 567 and a well‐maintained secondary road.
Over $25 million Can has been spent thus far, (2020 dollars inflation‐adjusted) on the Teledyne
Property resulting in valuable infrastructure including a development ramp and a modern decline
going down 500 ft parallel to the main cobalt mineralized vein. The Teledyne Property is subject to a
production royalty in favor of New Found Gold and an off‐take agreement in favor of Glencore Canada
Corp., while the Glencore Bucke Property is subject to a back‐in provision, production royalty, and an
off‐take agreement in favor of Glencore Canada Corp. Glencore PLC is the world’s largest producer of
cobalt. A significant portion of the cobalt that was produced at the Agaunico Mine was located
along structures (Vein #15) that extended southward towards the northern boundary of the
Teledyne Cobalt Property, currently 100% owned by FUSE. Mineralization was generally located
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within 125 ft (38.1 m) above the Huronian/Archean unconformity. Stoping widths of up to 50 ft (15.2
m) were not unusual at the Agaunico Mine (Cunningham‐Dunlop, 1979).
On Behalf of the Board of Directors
“Tim Fernback”
Tim Fernback, Interim President & CEO
Contact Information:
Email: [email protected]
Phone: 236‐521‐0207
Neither the 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. This news release
may contain forward-looking statements which include, but are not limited to, comments that involve future
events and conditions, which are subject to various risks and uncertainties. Except for statements of historical
facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and
security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking
statements are not guarantees of future performance and actual results may vary materially from those
statements. General business conditions are factors that could cause actual results to vary materially from
forward-looking statements.