Global Battery Metals to Exit Nickel-Copper Exploration Program at Sawyer Camp
1
Global Battery Metals to Exit Nickel-Copper Exploration Program at Sawyer Camp
December 29, 2022, Vancouver, British Columbia – Global Battery Metals Ltd. (the “Company” or
“GBML”) (TSXV: GBML; OTC QB: REZZF; Frankfurt: REZ), an international critical mineral
exploration and development company focussed on growth-oriented lithium and other battery metal
projects supporting the global transition to clean energy , announced today that the Company will
discontinue nickel-copper exploration activities at Sawyer Camp.
“Our exploration activities at Sawyer Camp have not generated enough encouragement to justify continued
allocation of budget and effort,” said Michael Murphy, President and CEO of GBML. “We will keep our
focus on advancing our core lithium assets - the NW Leinster project in Ireland and the Lithium King
project in Utah.”
Since 2020, GBML has been engaged in assessing Ni -Cu-PGM targets potentially related to the Mid -
Continent Rift in the State of Michigan. These targets occur in Pre-Cambrian basement rocks situated below
glacial and Paleozoic cover rocks.
Exploration work has been focused on mafic to ultramafic intrusions potentially analogous to those hosting
the deposit at the Eagle Ni-Cu-PGE Mine (located in the Upper Peninsula of Michigan) operated by Lundin
Mining. GBML has carried out exploration on two projects in this district. The Sawyer Camp property has
been explored by GBML over the past several years and the Company has completed two 300 m scout drill
holes and a borehole/surface electromagnetic (EM) survey. This property is comprised of both Michigan
State and private mineral rights. While the scout holes confirmed the targeted aeromagnetic anomaly was
caused by an ultramafic intrusion, no significant sulphide mineralization was encountered in the drilling.
Results from the EM surve y show no conductors suggestive of being related to Ni -Cu sulphides were
detected over the two main magnetic anomalies. Given these results, GBML has advised the optionor of its
termination of the option to lease agreement relative to the Sawyer Camp.
At the Central Project, GBML has two Michigan State leases that were tested by a limited -scale surface
EM survey. Historic exploration drilling has confirmed the presence of mafic and ultramafic intrusive rocks
associated with both reverse polarized and normally polarized aeromagnetic anomalies. No EM conductors
worthy of a direct drilling test were detected in the Fall 2022 survey carried out by GBML but data is under
review to determine next steps.
The Company’s Investor Presentation is available for download from the GBML website.
About Global Battery Metals Ltd.
GBML is a n 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 North -West Leinster lithium
property in Ireland; (2) a 100% interest in the Lithium King property in Utah ; (3) an option to acquire up
to a 100% interest in the Lapoile 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 prope rty 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).
2
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, exploration results anticipated from prior exploration and
future exploration plans for the Company’s properties. There can be no assurance that such statements will
prove to be accurate, and actual results and future event s could differ materially from those anticipated in
such statements. Forward-looking statements reflect the beliefs, opinions, and projections on the date the
statements are made and are based upon a number of assumptions and estimates that, while consider ed
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 inc lude,
without limitation, the ability to complete proposed exploration work given the global COVID -19
pandemic, the results of exploration , continued availability of capital, and changes in general economic,
market and business conditions. 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.