GBML.V · 2021-03-04 12:00:00

REZ, OTCQB: REZZF) (the “Company” or “GBML”), is pleased to announce, that through the staking of federal placer claims, it has acquired the property area known as the Lithium King property (the “Lithium King Property” or the “Property”).

Mergers & Acquisitions Property Options & Staking

(Vancouver, British Columbia, March 4, 2021) – GBML Battery Metals Ltd. (TSX-V: GBML, Frankfurt:

REZ, OTCQB: REZZF) (the “Company” or “GBML”), is pleased to announce, that through the staking of

federal placer claims, it has acquired the property area known as the Lithium King property (the “Lithium

King Property” or the “Property”).

Lithium King Property Highlights:

• Prospective lithium bearing brine aquifer located on the west side of the Great Salt Lake Basin in

western Utah.

• The land position consists of approximately 7,900 acres (3,200 hectares) of placer claims.

• Excellent infrastructure: Interstate Highway I-80 runs through the Property.

• Adjacent to active brine mining operation.

• Mining friendly jurisdiction.

Michael Murphy, President and CEO, commented : “We are very excited to have added the Lithium King

Property to our growth-oriented portfolio of battery metals projects. Samples from t he Property have

recorded positive lithium values, with excellent access from Interstate Highway 80, which runs beside the

Property. We look forward to rapidly advancing this Property, beginning with digitizing historical data,

water sampling, modelling, and ultimately leading to drill testing.”

Lithium King Property Overview

The Lithium King Property is located on the west side of the Great Salt Lake Basin in western Utah, adjacent

to the community of Wendover, Utah. The land position consists of approximately 7,900 acres (3,200

hectares) of placer claims.

The Property has the potential to host a lithium, and magnesium brine deposit in an existing mineral

producing location in a mining-friendly state.

Global Battery Metals Acquires Lithium King Property in Utah

News Release

Figure 1. Lithium King Property

The lithium and magnesium on the Lithium King Property are present as dissolved salts in a large surface

brine aquifer, which is believed to be derived from both surface erosion of lithium-rich rhyolites (as part of

the Pilot and Toano Ranges) and mineral-rich geothermal brine flows into the basin sediments from deep

seated faults underlying the 20-mile-long basin.

Lithium values from several samples from 39 shallow wells (25 feet) averaged 244 parts per million (ppm)

and ranged from a low 49 ppm to a high of 1,200 ppm. The lithium values from these wells are set out in

Schedule A. (See also United States Geological Survey Data Base: Produced Waters, Volume 2.2n.xlsx,

available in the Utah Geological Survey files.) The Lithium King Property is within the Great Basin of the

western United States, where lithium concentrations of greater than 10 ppm in brines are anomalous.

Lithium values from the only lithium production in the United States, in Clayton Valley, Nevada, also in

the Great Basin, range from 75 to about 250 ppm. (PC – W. R. Henkle, Jr.).

LITHIUM KING

PROPERTY

Figure 2. Property looking north towards Pilot Peak

Magnesium values at the Property and near vicinity range between 1,300 and 8,500 ppm (see United States

Geological Survey Data Base: Produced Waters, Volume 2.2n.xlsx, available in the Utah Geological Survey

(USGS) files, and Selected Ground-Water Data, Bonneville Salt Flats and Pilot Valley, Western Utah, Utah

Basic-Data Release No. 30, United States Geological Survey).

The shallow aquifer water samples (as per USGS sampling) may not reflect the deeper basin below 25 feet

depth. Drilling to bedrock and brine sampling is needed to confirm the presence of and concentration of

lithium in the deeper basin brines.

In addition to the large surface brine aquifer, several deeper, thick, porous clastic horizons are present .

These horizons were identified by inspection of the drill logs from the Shell -Salduro oil exploration well

which was drilled just west of the Property boundary. The historical drill logs identified this deep sequence

of aquifers (greater than 70% volcanic conglomerates) at the basin bedrock contact, at a depth of between

1,350 and 2,650 feet, beneath 1,300 feet of impervious, clay -rich sediments. They provide posited

permeable reservoirs for large quantities of what are thought to be higher value brines (undiluted by

meteoritic water). Because of the moderate target depths, both exploration and production drilling could

be undertaken with conventional hard rock drilling equipment and should not require oilfield tools.

The lithium and magnesium anomalous area overlies basement faulting identified by geophysical surveying

and confirmed by oil and gas drilling records (the logs of the Shell-Salduro oil exploration well located in

the Property vicinity, are public information, maintained by the Utah Dept. of Oil, Gas and Mining). The

geothermal fluids which are thought to be sourced from the underlying faults are believed to be the primary

source of mineralization. This is supported by: (1) the U.S. Geological Survey observation that, despite the

presence of an industrial minerals extraction operation in an adjacent area for many years, there has been

no depletion of mineral values as would be expected if the recharge to the aquifer was from meteoric waters

(USGS Professional Paper # 1585) ; and (2) water temperatures are el evated over the highly mineralized

area (see Selected Ground-Water Data, Bonneville Salt Flats and Pilot Valley, Western Utah, Utah Basic-

Data Release No. 30, United States Geological Survey and, United States Geological Survey Data Base:

Produced Waters, Volume 2.2n.xlsx, available in the Utah Geological Survey files).

Work Program

To assess the lithium potential of the basin brines on the Lithium King Property and subject to the receipt

of any required drilling permits, GBML expects to conduct the following work:

1. Locate and digitize existing oil well data to help in the modelling of the basin.

2. Acquire public domain geophysical datasets. This will help in improving the subsurface structural

and geological model. A depth to basement modelling exercise shall be completed. The data to be

included in such model is expected to include, but is not limited to:

• Gravity

• Magnetics

• Seismic

• Exploration mud rotatory drilling with wireline geophysics to evaluate the stratigraphy and

basement depth for the Property area.

3. Water sampling of drill holes using in -hole packer equipment to test for lithium enrichment and

deleterious element content of the brine.

4. Acquire additional geophysical data to assess basement depth, water content and brine depth

throughout the basin. This will be completed by a combination of gravity and electro magnetic data

acquisition.

5. Further drilling to test for:

• Stratigraphy

• Brine composition

• Production metrics

Finder’s Fee

In connection with acquiring the Property, the Company has agreed to pay a finder’s fee (the “ Finder’s

Fee”) to Atherton Resources LLC. Subject to acceptance of the TSX Venture Exchange, the Finder’s Fee

shall include: (1) a 2% net smelter royalty over the Property, with a right to repurchase 1% of such royalty

for the greater of US$1 million or 10% of the value of such 1% royalty; (2) the issuance of 150,000 common

shares (“Shares”) of the Company upon delivery of a technical report prepared in accordance with National

Instrument 43-101 in respect of the Property; and (3) the issuance of 380,000 Shares upon delivery of a

positive feasibility study in respect of the Property.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by William

R. Henkle, Jr., a “qualified person” within the meaning of National Instrument 43-101.

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's common shares are listed on the TSX Venture Exchange, OTCBB and

Frankfurt. GBML currently has two projects: (1) an option to acquire up to 90 per cent of the North-West

Leinster lithium property in Ireland, and (2) a 55-per-cent 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 $5.75 million (U.S.). GBML will retain a 0.75-per-cent net smelter royalty.

Michael Murphy BA, MBA, MSc., ICD

President & CEO

E: [email protected]

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward -looking information within the meaning of the applicable Canadian

securities legislation. Forward -looking information in th is press release includes, but is not limited to,

statements about the Lithium King Property, including the potential lithium values of the brine, the lithium

potential of the Property, the receipt of required drilling permits and the proposed work program, the terms

of the Finder’s Fee and regulatory approval of such fee. 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. Sufficient work has not been performed on the Lithium King Property to

determine what lithium and potassium values are present. In certain cases, forward -looking information

may be identified by such terms as “anticipates”, “believes”, “could”, “estimates”, “expects”, “m ay”,

“shall”, “will”, or “would”. 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, impacts

arising from the global disruption caused by the Covid-19 coronavirus outbreak, fluctuations in general

macroeconomic conditions, availability of financing, 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,

industry conditions, dependence upon regulatory approvals, and uncertainty of sample results, timing and

results of future exploration. 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.

NEITHER THE TSX-V NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED

IN THE POLICIES OF THE TSX-V) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS

RELEASE. NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY

AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.

Schedule A

LITHIUM KING PLAY AREA SHALLOW AQUIFER BRINES

TOOELE COUNTY, UTAH

PREPARED BY: Henkle and Assoc. from the U.S. Geologicial Survey Database: Produced Waters, Volume 2.2n.xlsx

COUN

T WELLNAME Li Mg Mg/Li Ca Ca/Li Ca/Mg WELLTYPE WELLCLAS

1 NWIS Well (C- 1-

17)18cab- 1 1200 5600

4.666666

7 1000 0.83333333

0.17857142

Geotherma

2 NWIS Well (B- 1-

17)22abd- 1 1100 5400

4.909090

9 1000 0.90909091

0.18518518

Geotherma

3 NWIS Well (B- 1-

17)29dac- 1 1000 5400 5.4 940 0.94

0.17407407

Geotherma

4 NWIS Well (C- 1-

18) 3dcd- 2 970 4800

4.948453

6 1000 1.03092784

0.20833333

Geotherma

5 NWIS Well (B- 1-

17)11aac- 1 810 5000

6.172839

5 1200 1.48148148 0.24

Geotherma

6 NWIS Well (C- 1-

17) 4bba- 1 810 4300 5.308642 940 1.16049383

0.21860465

Geotherma

7 NWIS Well (B- 1-

17)22bca- 1 760 4500

5.921052

6 920 1.21052632

0.20444444

Geotherma

8 NWIS Well (B- 1-

17)12dcc- 1 730 4700

6.438356

2 1200 1.64383562

0.25531914

Geotherma

9 NWIS Well (B- 2-

17)36ddd- 1 720 4600

6.388888

9 1200 1.66666667

0.26086956

Geotherma

10 NWIS Well (B- 1-

17)23bad- 2 700 4300

6.142857

1 1200 1.71428571

0.27906976

Geotherma

11 NWIS Well (B- 1-

17)19dad- 2 620 3700

5.967741

9 1100 1.77419355

0.29729729

Geotherma

12 NWIS Well (B- 1-

17)23abd- 1 580 3800

6.551724

1 1300 2.24137931

0.34210526

Geotherma

13 NWIS Well (B- 1-

17)22aad- 1 570 4100

7.192982

5 1100 1.92982456

0.26829268

Geotherma

14 NWIS Well (C- 1-

18)17bdb- 1 420 3100

7.380952

4 1100 2.61904762 0.35483871

Geotherma

15 NWIS Well (B- 1-

17)21add- 3 290 3000

10.34482

8 1200 4.13793103 0.4

Geotherma

16 NWIS Well (C- 1-

17)15dbd- 1 250 1800 7.2 1100 4.4

0.61111111

Geotherma

17 NWIS Well (C- 1-

18)11ccd- 1 170 1800

10.58823

5 1200 7.05882353

0.66666666

Geotherma

18 NWIS Well (C- 3-

2)35abc- 1 120 8500

70.83333

3 910 7.58333333

0.10705882

Geotherma

19 NWIS Well (C- 1-

17)18cab- 1 95 5100

53.68421

1 960 10.1052632

0.18823529

Geotherma

20 NWIS Well (B- 4-

18)17ddd- 1 88 2500

28.40909

1 2200 25 0.88

Geotherma

21 NWIS Well (B- 1-

17)29dac- 1 88 4800

54.54545

5 830 9.43181818

0.17291666

Geotherma

22 NWIS Well (C- 1-

17)17bba- 1 86 5000

58.13953

5 970 11.2790698 0.194

Geotherma

23 NWIS Well (C- 1-

18)11ccd- 2 85 4300

50.58823

5 1100 12.9411765

0.25581395

Geotherma

24 NWIS Well (B- 4-

18)17aaa- 1 85 3700

43.52941

2 1000 11.7647059 0.27027027

Geotherma

25 NWIS Well (C- 2- 1)

6abc- 4 84 5700

67.85714

3 920 10.952381

0.16140350

Geotherma

26 NWIS Well (B- 5-

18)32ddc- 1 81 2500

30.86419

8 2200 27.1604938 0.88

Geotherma

27 NWIS Well (B- 4-

18)17ddd- 1 78 2900

37.17948

7 2500 32.0512821

0.86206896

Geotherma

28 NWIS Well (B- 5-

18)32ddc- 1 78 3100 39.74359 2900 37.1794872

0.93548387

Geotherma

29 NWIS Well (C- 1-

17) 4bba- 1 75 4700

62.66666

7 1000 13.3333333

0.21276595

Geotherma

30 NWIS Well (C- 3- 5)

4bbb- 2 75 5300

70.66666

7 1100 14.6666667 0.20754717

Geotherma

31 NWIS Well (B- 1-

17)31acc- 1 72 5700

79.16666

7 1100 15.2777778

0.19298245

Geotherma

32 NWIS Well (C- 1-

17)17bba- 1 71 5200

73.23943

7 1000 14.084507

0.19230769

Geotherma

33 NWIS Well (B- 1-

17)31acc- 1 71 5100

71.83098

6 910 12.8169014

0.17843137

Geotherma

34 NWIS Well (B- 1-

17)11aac- 1 69 3800

55.07246

4 970 14.057971

0.25526315

Geotherma

35 NWIS Well (B- 1-

17)31acc- 1 69 5800

84.05797

1 1100 15.942029

0.18965517

Geotherma

36 NWIS Well (B- 2-

1)24bad-10 69 2400

34.78260

9 2200 31.884058

0.91666666

Geotherma

37 NWIS Well (B- 1-

17)12dcc- 1 67 2200

32.83582

1 2100 31.3432836

0.95454545

Geotherma

38 NWIS Well (B- 1-

17)22abd- 1 67 4300

64.17910

4 970 14.4776119

0.22558139

Geotherma

39 NWIS Well (B- 4-

18) 1cbc- 1 66 2200

33.33333

3 2000 30.3030303

0.90909090

Geotherma

40 NWIS Well (C- 3- 5)

5aba- 1 66 4400

66.66666

7 1100 16.6666667 0.25

Geotherma

41 NWIS Well (C- 1-

18) 6adc- 2 65 1400

21.53846

2 1200 18.4615385

0.85714285

Geotherma

42 NWIS Well (D- 1- 1)

4cac- 1 63 4000

63.49206

3 1200 19.047619 0.3

Geotherma

43 NWIS Well (B- 1-

17)36dac- 1 63 4800

76.19047

6 1100 17.4603175

0.22916666

Geotherma

44 NWIS Well (B- 1-

17)26cad- 1 61 4700 77.04918 1100 18.0327869

0.23404255

Geotherma

45 NWIS Well (C- 2-

1)34dda- 1 61 3900

63.93442

6 1100 18.0327869

0.28205128

Geotherma

46 NWIS Well (B- 1-

17)31acc- 3 60 3900 65 1100 18.3333333

0.28205128

Geotherma

47 NWIS Well (C- 1-

18)17bdb- 1 60 3300 55 1100 18.3333333

0.33333333

Geotherma

48 NWIS Well (B- 1-

18)32ccc- 1 59 1300

22.03389

8 920 15.5932203

0.70769230

Geotherma

49 NWIS Well (B- 1-

17)34ddd- 1 59 4200

71.18644

1 1000 16.9491525

0.23809523

Geotherma

50 NWIS Well (B- 1-

17)31acc- 2 59 4400

74.57627

1 950 16.1016949

0.21590909

Geotherma

51 NWIS Well (B- 1-

17)31acc- 3 57 3300

57.89473

7 1000 17.5438596

0.30303030

Geotherma

52 NWIS Well (B- 2-

17)36ddd- 1 56 3400

60.71428

6 1200 21.4285714

0.35294117

Geotherma

53 NWIS Well (B- 1-

17)31acc- 2 54 4500

83.33333

3 1000 18.5185185

0.22222222

Geotherma

54 NWIS Well (B- 4-

18)33ccc- 1 54 1700

31.48148

1 2100 38.8888889

1.23529411

Geotherma

55 NWIS Well (C- 1-

17)10aac- 1 53 3500

66.03773

6 1200 22.6415094

0.34285714

Geotherma

56 NWIS Well (B- 1-

17)26cad- 1 52 3200

61.53846

2 1200 23.0769231 0.375

Geotherma

57 NWIS Well (A- 3-

2)26aab- 1 51 3400

66.66666

7 1100 21.5686275

0.32352941

Geotherma

58 NWIS Well (B- 1-

17)23abd- 1 50 3200 64 1300 26 0.40625

Geotherma

59 NWIS Well (B- 4-

18)33ccc- 1 50 2200 44 2600 52

1.18181818

Geotherma

60 NWIS Well (B- 1-

17)31acc- 2 49 4600

93.87755

1 1000 20.4081633

0.21739130

Geotherma

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