GLOBAL BATTERY ANNOUCES COMMENCEMENT OF DRILLING (Vancouver, British Columbia, October 16 th , 2020) – Global Battery Metals Ltd. (TSX-V: GMBL,
GLOBAL BATTERY ANNOUCES COMMENCEMENT OF DRILLING
(Vancouver, British Columbia, October 16 th , 2020) – Global Battery Metals Ltd. (TSX-V: GMBL,
Frankfurt: REZ, OTCQB: REZZF) (the “Company” or “GBML”) is pleased to announce that they have
begun test drilling at the Michigan based Sawyer camp, a prospective Nickel, Copper property.
The Sawyer Camp is located approximately 50 km to the south of the Eagle Mine, which is owned by
Lundin Mining Corporation. The Eagle and Eagle East deposits had a Proven and Probable Mineral Reserve
of 4.8 million tonnes grading 2.8% Ni and 2.4% Cu along with credits of Co, Pt, Pd and Au (effective
December 31, 2016). The Eagle deposit was discovered by Rio Tinto plc and put into production by Lundin
in 2014.
Readers are cautioned that the information in this press release regarding the Eagle mine is not necessarily
indicative of the mineralization on the property of interest.
GMBL intends to drill up to three 250 m core holes. The holes will test for the presence of Precambrian
aged peridotite intrusions that are the host rock for the nickel -copper mineralization at the Eagle Mine. If
we are successful, we will cease drilling and move to make the agreement with the current property holder
binding.
The current LOI provides that GBML and USCORP (the mineral rights owner) will commence good faith
negotiations to execute a mineral lease agreement to be completed within the one-year period after the date
of the LOI. General confidential terms have been agreed.
The LOI provides that the Option Agreement will be on terms acceptable to both parties, acting reasonably.
Qualified Person
All scientific and technical information in this press release has been prepared under the supervision of
Cameron Bell, P. Geo. a consultant and Director of GBML, and a “qualified person” within the meaning of
National Instrument 43-101. Readers are cautioned that the information in this press release regarding the
Eagle mine is not necessarily indicative of the mineralization on the property of interest. The QP has been
unable to verify the informat ion in this press release about the Eagle mine, but such information was
publicly disclosed (in a report titled “Technical Report on the Eagle Mine, Michigan, U.S.A.” dated April
26, 2017) and the QP believes it is reliable.
News Release
About GBML Battery Metals Ltd.
GBML is a mineral exploration company with a focus on metals that make up and support the rapid
evolution to battery power. GBML’s common shares are listed on the TSX Venture Exchange (GBML),
OTCBB (REZFF) and Frankfurt (REZ). GBML currently ha s two projects: (1) an option to acquire up to
90% of the North-West Leinster Lithium property in Ireland, and (2) a 55% stake in Peru based Lara copper
property, which has over 10,000 metres of drilling. As previously disclosed, Minsur S.A., a Peruvian mining
company, entered into an option agreement with GBML and Lara Exploration Ltd. to acquire the Lara
property for staged payments of $5.75mil usd. GBML will retain a .75% NSR Please see the press release
of July 28th, 2020 for more information. More information about GBML is available under its profile on
SEDAR at www.sedar.com or at www.gbml.ca.
Michael Murphy BA, MBA, MSc., ICD
President & CEO
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 and/or accuracy of this release.
Forward Looking Statements
This press release contains forward -looking information. Forward-looking information in this press release includes, but is not
limited to, statements about the Company’s activities during the due diligence and exclusivity period, and the timing for ent ering
into and the proposed terms of the Option Agreement. These statements are based on information currently available to the
Company and the Company provides no assurance that actual results will meet management’s expectations. In certain cases,
forward-looking information may be identified by such terms as “anticipates”, “believes”, “could”, “estimates”, “expects”,
“may”, “shall”, “will”, or “would”. These forward-looking statements are subject to numerous risks and uncertainties, certain
of which are beyo nd the control of the Company, including, but not limited to the potential for gold and/or lithium at any of the
Company’s properties, the prospective nature of any claims comprising the Company’s property interests, the impact of general
economic conditions, industry conditions, dependence upon regulatory approvals, uncertainty of sample results, timing and results
of future exploration, and the availability of financing. Please refer to the Company’s MD&A for the year ended April 30, 2020
and other disclosure documents filed under its profile on SEDAR for other risks that could materially affect the Company. These
and other factors should be considered carefully, and readers should not place undue reliance on the Company’s forward-looking
information. The Company does not undertake to update any forward-looking information that may be made from time to time by
the Company or on its behalf, except in accordance with applicable securities laws.