Ltd. (LRA), through their Minas Dixon subsidiary, for the sale of the Lara Copper Project to Minsur S.A. (“Minsur”) for US$5.75 million and a 1.5% NSR royalty. Minsur is a Peruvian tin and gold mining company, which is in the late stages of building the Mina Justa open pit copper
(Vancouver, British Columbia, July 28th, 2020) – Global Battery Metals Ltd. (TSX-V: GMBL,
Frankfurt: REZ, OTCQB: REZZF) (“the Company” or “GBML”), is pleased to report that it has
entered into an Option and Royalty Agreement (“the Agreement”), together with Lara Exploration
Ltd. (LRA), through their Minas Dixon subsidiary, for the sale of the Lara Copper Project to
Minsur S.A. (“Minsur”) for US$5.75 million and a 1.5% NSR royalty. Minsur is a Peruvian tin
and gold mining company, which is in the late stages of building the Mina Justa open pit copper
mine near Marcona (the same district as the Lara project) which is estimated to have total capital
costs of US$1.6 billion.
The Lara Copper Project comprises mineral rights covering a partly defined copper-molybdenum
porphyry deposit, located in the Laramate Province of the Ayacucho Departme nt, approximately
40km inland from the town of Palpa on the Pan American Highway. The Project is registered in
the name of Minas Dixon S.A., which is in turn owned 55% by GBM and 45% by Lara.
Under the terms of the Agreement GBML and LRA have granted Mins ur an exclusive option to
acquire a 100% interest in the Project by making staged cash payments of US$5.75 million, to
Minas Dixon based on the satisfaction of various milestones, as summarized in the following table:
Milestone/Date Option Payments
(US$)
Upon Registration of the Agreement before Public Notary
59,000
One year from Registration of the Agreement
200,000
Approval of Environmental Study and Start of Work (“DIA-
IA”)
200,000
One year from approval of the DIA-IA
300,000
Approval of Semi -Detailed Environmental Study (“EIA -
SD”)
500,000
One year from approval of the EIA-SD
1,500,000
Upon transfer of Title
3,000,000
Total (US$)
5,759,000
Option and Royalty Agreement Signed for Minsur to Acquire the Lara Project
News Release
Minas Dixon has received the first payment.
Michael Murphy President and CEO commented, "We are pleased to see our exciting Lara
Copper property in the hands of Minsur S.A. . Cash proceeds from this transaction will have an
immediate positive impact on our financial position and will support our continued focus to seek
out positive exploration opportunities."
About Global 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 Battery Metals Ltd. common shares are listed on the
TSX Venture Exchange (GBML), OTCBB (REZFF) and Frankfurt (REZ). GBML Battery
Metals Ltd. currently has 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. More information about the Company is available on
its issuer profile on SEDAR at www.sedar.com or 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
Certain information set forth in this news release may contain forward-looking statements that involve
substantial known and unknown risks and uncertainties. These forward -looking statements are subject to
numerous risks and uncertainties, certain of which are beyond 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 regula tory approvals, uncertainty of sample results,
timing and results of future exploration, and the availability of financing. Readers are cautioned that the
assumptions used in the preparation of such information, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-
looking statements.