Global Energy Metals Announces Drilling to Commence at Råna Nickel-Copper-Cobalt Project, Norway

GLOBAL ENERGY METALS ANNOUNCES DRILLING TO COMMENCE AT RÅNA

NICKEL-COPPER-COBALT PROJECT, NORWAY

Vancouver, BC / TheNewswire / July 25, 2024 / Global Energy Metals CorporaQon TSXV:GEMC

| OTCQB:GBLEF | FSE:5GE1 (“Global Energy Metals” , the “Company” and/or “GEMC”), a mul’-

jurisdic’onal, mul’-commodity cri’cal mineral explora’on, development and project

genera’ng company focused on growth-oriented projects suppor’ng the global transi’on to

clean energy, is pleased to announce that joint venture partner, Kingsrose Mining Limited (ASX:

KRM) (“Kingsrose”) has entered into a drill service agreement (the “Drill Contract”) with Arc’c

Drilling ( ” A r c’c Drilling”), headquartered in Finnmark County, Norway. The Drill Contract

provides for the commencement of helicopter supported core drilling at the Råna nickel-copper-

cobalt project (“Råna”) in August 2024 (Figure 1).

GEMC has a 10% ownership of Narvik Nikel, a Norwegian holding company which holds an 100%

interest in Råna. GEMC also has an 1% NSR royalty on Råna. Kingsrose has commi Xed and is

earning up to an 80% interest by spending $15 million in project expenditures on the project.

Highlights

•Drilling is due to commence in early-August 2024 at the Rånbogen prospect.

•Compelling targets comprise shallow, highly conduc ’ve electromagne’c (EM) anomalies

immediately down dip from mineralised nickel-copper-cobalt massive sulphide at surface

(Figure 2).

•Comple’on of a minimum 700 metres drilling will sa’sfy the drilling milestones under the

Transac’on Implementa’on Agreement (TIA) with Scandinavian Resource Holdings Pty Ltd

and Global Energy Metals (see news release dated January 18, 2023).

•Arc’c Drilling is a Norwegian owned and domiciled company based out of Finnmark County,

Norway, bringing extensive experience of opera’ng in arc’c regions with local knowledge.

Mitchell Smith, CEO and Director of Global Energy Metals commented:

“We’re excited to announce the commencement of the targeted drill program, which focuses on

the highly prospec9ve Rånbogen area. Our drilling efforts will focus on assessing the poten9al of

two high-priority targets characterized by highly conduc9ve EM responses down-dip of massive

sulphide nickel-copper-cobalt mineralised outcrop, in an area with no previous drilling with the

goal of demonstra9ng the growth poten9al for the area.

Last year’s drilling at Rånbogen, approximately 600 metres up hill to the southeast of these

targets, returned the best result of the program including 9.3 metres at 1.0% nickel, 0.3% copper

and 0.1% cobalt, so we are very much looking forward to receiving the results of the upcoming

drilling.”

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Figure 1: Råna project loca9on

Rånbogen Drill Program

•Two shallow, moderate to strong bedrock conductors were iden’fied through geophysics at

Rånbogen by Kingsrose in 2023 and remain undrilled (see GEMC news releases dated October

23, 2023).

•Each target comprises modelled EM plates situated at steep gradients in magnetotelluric (MT)

geophysical data, coincident with mineralised disseminated and massive sulphide at surface

(see GEMC news release dated August 8, 2023) (Figures 2 and 3).

•Target 1 is a 170m long, 100m deep, steeply dipping zone comprising two modelled EM plates

with conductance between 6800 and 9600 siemens, star ’ng <30 metres below surface.

Historical rock chip samples returned up to 1.6 % Ni and 0.6 % Cu ( see GEMC news release

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dated January 18, 2023).

•Target 2 is a 150m long, 50m deep, steeply dipping zone comprising two modelled EM plates

with conductance between 1900 and 2800 siemens, star ’ng from <20m metres below

surface. There is sparse outcrop directly above the anomaly, but zones of disseminated

sulphide in perido’te have returned up to 0.6 % Ni and 0.6 % Cu in historical rock chip

samples 100m southwest along strike from the EM plates.

•Mineralisa’on comprises narrow (<3m thick) lenses of massive sulphide (pyrrho ’te-

chalcopyrite-pentlandite) hosted within a broader zone of disseminated sulphide in

perido’te-pyroxenite exposed in stream beds.

•This is the same geological, geochemical and geophysical signature as mineralised intercepts

drilled elsewhere in the Rånbogen and Malmhaugen area during 2023 (Figure 2, see GEMC

news releases dated October 23, 2023 and February 5, 2024).

•The targets are inferred to be closer to the base of the intrusion than the mineralised

intercepts iden’fied in 2023 drilling, which implies good poten ’al for high tenor

mineralisa’on.

Figure 2: Map of the Rånbogen project area and 2024 drill targets.

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The Company has been working towards this drill program through several sustainability and

permihng ini’a’ves, including:

•Received a dispensa’on for helicopter use from the Municipality (drill rig moves and

personnel/supply logis’cs)

•Executed land access agreements with landowners

•Engaged with the local reindeer herding district via the Municipality

•Communicated with Sami Parliament to iden’fy cultural heritage sites

•Completed baseline water quality survey

•Completed a drill site flora study

•Commenced a noise survey

Drilling is an’cipated to be completed in early September 2024, with assay results expected in

October and November 2024.

Figure 3: Cross sec9on showing drill targets, EM plates, MT contours and historical rock chip

data, Rånbogen prospect.

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Qualified Person

Mr . Paul Sarjeant, P . Geo., is the qualified person for this release as de fined by Na’onal

Instrument 43-101 - Standards of Disclosure for Mineral Projects. He is a shareholder and

Director of the Company.

For Further InformaQon:

Global Energy Metals Corpora’on

#1501-128 West Pender Street

Vancouver, BC, V6B 1R8

Email: [email protected]

t. + 1 (604) 688-4219

www.globalenergymetals.com

TwiXer: @EnergyMetals | @USBaXeryMetals | @ElementMinerals

Global Energy Metals CorporaQon

(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)

Global Energy Metals Corp. offers investment exposure to the growing rechargeable baUery and

electric vehicle market by building a diversified global porWolio of explora9on and growth-stage

baUery mineral assets.

Global Energy Metals recognizes that the prolifera9on and growth of the electrified economy in

the coming decades is underpinned by the availability of baUery metals, including cobalt, nickel,

copper, lithium and other raw materials. To be part of the solu 9on and respond to this

electrifica9on movement, Global Energy Metals has taken a ‘consolidate, partner and invest’

approach and in doing so have assembled and are advancing a por Wolio of strategically

significant investments in baUery metal resources.

As demonstrated with the Company’s current copper, nickel and cobalt projects in Canada,

Australia, Norway and the United States, GEMC is inves 9ng-in, exploring and developing

prospec9ve, scaleable assets in established mining and processing jurisdic9ons in close proximity

to end-use markets. Global Energy Metals is targe9ng projects with low logis9cs and processing

risks, so that they can be fast tracked to enter the supply chain in this cycle. The Company is also

collabora9ng with industry peers to strengthen its exposure to these cri9cal commodi9es and

the associated technologies required for a cleaner future.

Securing exposure to these cri 9cal minerals powering the eMobility revolu 9on is a

genera9onal investment opportunity. Global Energy Metals believes Now is the Time to be part

of this electrifica9on movement.

CauQonary Statement on Forward-Looking InformaQon:

Certain informa9on in this release may cons9tute forward-looking statements under applicable

securi9es laws and necessarily involve risks associated with regulatory approvals and 9melines.

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Although Global Energy Metals believes the expecta9ons expressed in such forward-looking

statements are based on reasonable assump9ons, such statements are not guarantees of future

performance and actual results or developments may di ffer materially from those in the

forward-looking statements. Except as required by law, the Company undertakes no obliga9on

to update these forward-looking statements in the event that management’s beliefs, es9mates

or opinions, or other factors, should change.

GEMC’s opera9ons could be significantly adversely affected by the effects of a widespread

global outbreak of a contagious disease, including the recent outbreak of illness caused by

COVID-19. It is not possible to accurately predict the impact COVID-19 will have on opera9ons

and the ability of others to meet their obliga 9ons, including uncertain9es rela9ng to the

ul9mate geographic spread of the virus, the severity of the disease, the dura 9on of the

outbreak, and the length of travel and quaran 9ne restric9ons imposed by governments of

affected countries. In addi9on, a significant outbreak of contagious diseases in the human

popula9on could result in a widespread health crisis that could adversely affect the economies

and financial markets of many countries, resul9ng in an economic downturn that could further

affect opera9ons and the ability to finance its opera9ons.

For more informa9on on Global Energy and the risks and challenges of their businesses,

investors should review the filings that are available at www.sedar.com.

Neither TSX Venture Exchange nor its Regula9on 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.

We seek safe harbour.