Global Battery Metals Receives Drill Permit in Ireland; Plans to Advance Leinster Lithium Spring Drill Program Forward Private Placement Announced to Support Multi-Stage Drill Program // THIS PRESS RELEASE IS NOT INTENDED FOR RELEASE OR DISSEMINATION IN THE UNITED STATES //
Global Battery Metals Receives Drill Permit in Ireland;
Plans to Advance Leinster Lithium Spring Drill Program Forward
Private Placement Announced to Support Multi-Stage Drill Program
// THIS PRESS RELEASE IS NOT INTENDED FOR RELEASE OR DISSEMINATION IN THE UNITED STATES //
April 27, 202 3, Vancouver, British Columbia – Global Battery Metals Ltd. (the “ Company” or
“GBML”) (TSXV: GBML; OTCQB: REZZF; Frankfurt: REZ), a critical mineral exploration
company focused on growth -oriented lithium and battery metal projects, today announces that it has
secured its drill permit for the Leinster Lithium Project (the “Project”) through a Government approved
“Appropriate Assessment Screening Determination” issued by the Department of the Environment,
Climate and Communications. This permit gives the go -ahead for the commencement of the planned
drill program and the Company anticipates having a drill team mobilized within the coming weeks. The
Company also announces a non-brokered private placement financing to raise aggregate proceeds of up
to $1,000,000.
The permit approves for up to 10 drill holes over a multi-stage diamond core drilling program that will
target an area of a n historically reported trenched bedrock occurrence coincident with several highly
anomalous LCT Pegmatite (lithium-cesium-tantalum) pegmatite geochemical trends . This, when
considered in association with a broad spodumene pegmatite boulder train at surface, is interpreted to
indicate up to six potential dikes extending across a prospective lithium trend on Prospecting Licence
Area 1597 (the “Knockeen Prospect”).
“The need to identify viable sources of domestic European lithium across geopolitically -friendly
jurisdictions continues to drive commercial interest among key European industry participants,” said
Michael Murphy, CEO of Global Battery Metals. “We are excited t o be moving forward with an
expanded drill program in Leinster. In its Critical Raw Materials Act (CRMA), the EU has put a number
of goals forward to help secure lithium and other materials deemed essential to meeting Europe’s future
electrification and su stainability transition targets. We believe the Leinster Project will be a future
contributor in this regard.”
As previously announced, the known extent of the boulder train is now over 1km in length from NE to
SW, 0.5km from NW to SE and is still open in all directions. Significant sampling and mapping across
the Knockeen Prospect was conducted throughout the second half of 2022, with the potential discovery
of up to six LCT pegmatite dikes (see March 20, 2023 press release) and the most recent assay results
of 66 rock samples released by ALS Laboratories returning Li2O% lithium contents ranging up to 3.75
% Li2O / 17,000 ppm Li (see January 18, 2023 press release).
Please see the Company's Leinster Project Overview for additional program details, in addition to the
latest version of the Company’s Investor Presentation available for download from the GBML website
(www.gbml.ca).
Further, the Company announces a non-brokered private placement financing of up to 9,090,910 units
of the Company (the “ Units”) at a price of 0.11 per Unit for aggregate gross proceeds of up to
$1,000,000 (the “ Offering”). Each Unit shall consist of one (1 ) common share in the capital of the
Company (“Share”) and one (1) Share purchase warrant (the “Warrant”), whereby each Warrant shall
be exercisable by the warrant holder to acquire one (1) additional Share at a price of $0.15 for a period
of twenty-four (24) months from the closing of the Offering (the “Closing Date”).
The proceeds from the Offering will be used by the Company primarily for working capital and to
support the multi-stage drill program planned for the Leinster Lithium Project.
In consideration of the introduction to the Company of investors in the Offering, finder's fee may be
paid in cash or in securities of the Company in accordance with applicable securities laws and TSX
Venture Exchange policies. Completion of the Offering will be sub ject to receipt of all necessary
regulatory approvals, including approval of the TSX Venture Exchange.
It is anticipated that insiders of the Company may participate in the Offering. Any such participation
will constitute a related party transaction as defined under Multilateral Instrument 61-101 - Protection
of Minority Security Holders in Special Transactions (“MI 61-101”). The Company intends to rely on
the exemption from the formal valuation requirements of Section 5.4 of MI 61 -101 pursuant to
Subsection 5.5(a) of MI 61-101 and the exemption from the minority approval requirements of Section
5.6 of MI 61-101 pursuant to Subsection 5.7(1)(a) of MI 61-101.
The securities issued in connection with the Offering will be subject to a statutory four -month hold
period under applicable Canadian securities laws commencing on the Closing Date.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities offered have not been and will not be registered under
the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S.
persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an
exemption from such registration is available.
Competent Person
All scientific and technical information in this announcement has been prepared under the supervision
of and reviewed and approved by EuroGeol Vaughan Williams M.Sc. P.Geo. (Principal of Aurum
Exploration Services currently provides exploration services to GBML and to LRH), a “qualified
person” within the meaning of National Instrument 43 -101.Vaughan Williams is also company
secretary of LRH.
About the Leinster Lithium Project
The Leinster Property, located in the counties of Wicklow and South Carlow, in the Republic of Ireland,
is a lithium pegmatite project that consists of 16 prospecting license areas located SW of Dublin and in
direct proximity to the joint venture Ganfeng Lithium / International Lithium Corporation Blackstairs
Lithium Project. Lithium mineralization has been confirmed across all project areas explored to date,
with the potential discovery of up to six LCT pegmatite dikes and assay results of 66 rock samples
released by ALS Laboratories returning Li 2O% lithium contents ranging up to 3.75 % Li 2O / 17,000
ppm Li at the Knockeen Prospect. The Project’s maiden drill program is anticipated to commence spring
2023.
About Global Battery Metals Ltd.
GBML is an international mineral exploration and development company with a focus on metals that
comprise and support the rapid evolution to battery power. GBML currently maintains economic
interests in four battery metal projects: (1) an option to acquire up to a 90% in the drill-ready Leinster
Lithium Property in Ireland; (2) a 100 % interest in the drill-ready Lithium King Property in Utah; (3)
an option to acquire up to a 100% interest in the La Poile Lithium Project in Newfoundland; and (4) 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 copper property for staged payments of USD$5.75 million.
GBML will retain a 0.75% net smelter royalty. GBML's common shares are listed on the TSX Venture
Exchange (TSXV: GBML); Frankfurt Stock Exchange (FSE: REZ); and are quoted on the OTC Markets
(OTCQB: REZZF).
Global Battery Metals Ltd.
Michael Murphy BA, MBA, MSc., ICD
President & CEO
T: 604-649-2350
W: www.gbml.ca
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.
Cautionary Statement Regarding “Forward-Looking” Information
This news release contains certain “forward -looking information” and “forward -looking statements”
(collectively “forward-looking statements”) within the meaning of applicable securities legislation. All
statements, other than statements of historical fact, included herein, without limitation, statements
relating the future operations and activities of the Company, are forward-looking statements. Forward-
looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”,
“believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that
events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward-looking
statements in this news release relate to, among other things, the Company’s exploration plans at the
Leinster Lithium Property and the Offering. There can be no assurance that such statements will prove
to be accurate, and actual results and future events could differ materially from those anticipated in such
statements. Forward-looking statements reflect the beliefs, opinions, and projections on the dat e the
statements are made and are based upon a number of assumptions and estimates that, while considered
reasonable by the Company, are inherently subject to significant business, economic, competitive,
political and social uncertainties and contingencies . Many factors, both known and unknown, could
cause actual results, performance, or achievements to be materially different from the results,
performance or achievements that are or may be expressed or implied by such forward -looking
statements and the parties have made assumptions and estimates based on or related to many of these
factors. Such factors include, without limitation, the ability to complete proposed exploration work, the
results of exploration, continued availability of capital, and changes in general economic, market and
business conditions, and the receipt of any required regulatory approvals . Readers should not place
undue reliance on the forward -looking statements and information contained in this news release
concerning these items. Readers are urged to refer to the Company's reports, publicly available through
the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval
(SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential
effects. The Company does not assume any obligation to update the forward -looking statements of
beliefs, opinions, projections, or other factors, should they change, except as required by applicable
securities laws.