Global Energy Metals Announces Second Completion of Staged Investment BY Kingsrose Mining at the Råna Nickel-Copper-Cobalt Project, Norway
GLOBAL ENERGY METALS ANNOUNCES SECOND COMPLETION OF STAGED
INVESTMENT BY KINGSROSE MINING AT THE RÅNA NICKEL-COPPER-COBALT
PROJECT, NORWAY
Vancouver, BC / TheNewswire / September 4, 2024 / Global Energy Metals Corpora Son
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 advised that condi’ons to meet second comple’on of the
Transac’on Implementa’on Agreement (as amended) announced on 18 January 2023 regarding
its staged investment into the Råna Nickel-Copper-Cobalt project (the “Råna Project”) have
been sa’sfied (the “Second Comple’on”). As at Second Comple’on, Kingsrose has earned a
51% interest in the Råna Project by incurring $3 million of expenditure on the Råna Project. By
spending $15 million in cumula’ve project expenditures on the project, Kingsrose has the right
to ul’mately earn up to an 80% interest in the Råna Project.
Kingsrose has also successfully completed its recent drilling program at Råna ( refer to news
release dated August 12, 2024) designed to test compelling explora’on targets comprising
mineralised nickel-copper-cobalt massive sulphide at surface with coincident conduc ’ve
electromagne’c plates at the Rånbogen prospect (refer to news release dated July 25, 2024). A
total of 706 metres was drilled over three drill holes and drill core samples have now been
dispatched to the laboratory for analysis. Drilling results and an outline of Kingsrose’s proven
targe’ng methodology across the wider area of the project will be announced in due course.
Mitchell Smith, CEO and Director of GEMC comments:
“GEMC’s explora/on por1olio of targets, projects and partners is designed such that the success
of the company is driven by the proven earn-in partner funding model. Through our partnership
with Kingsrose Mining we are doing just that and since partnering with them have bene fited
from a wealth of knowledge and confidence of not only confirming the exis/ng scale of the Råna
Project but in advancing the explora/on and expanding the footprint of the mineraliza/on. We
are excited by this signi ficant milestone and look forward to con /nued work with
Kingsrose under this strategic collabora/on with the expecta/on of significantly enhancing the
understanding of the Råna Project, bringing forward its full poten/al.”
Having successfully applied modern explora’on techniques and interpreta’on to the Råna
Project, the programs to date have demonstrated a large and prospec ’ve project for the
discovery of high-grade sulphide nickel-copper-cobalt mineralisa’on.
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Kingsrose has informed Global Energy Metals of its intent to proceed to earn the third milestone
interest, which equates to a 65% interest in the Råna Project, by incurring $4 million of
expenditure on the Råna Project within the next two years.
GEMC currently holds a 10% ownership of Narvik Nikel, a Norwegian holding company which
holds an 100% interest in the Råna Project. GEMC also has an 1% NSR royalty on the Råna
Project.
Figure 1: Arc/c Drilling AS drilling opera/ons at Rånbogen prospect, Råna Project, Norway
About Kingsrose Mining
Kingsrose Mining Limited is a leading sustainability-conscious and technically proficient mineral
explora’on company listed on the ASX. The Company has a discovery-focused strategy, targe’ng
the acquisi’on and explora’on of cri’cal mineral deposits having Tier-1 poten’al. This has
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resulted in the acquisi’on of, or joint venture into, the Råna nickel-copper-cobalt, Penikat PGE
and Porsanger PGE-nickel-copper projects in Finland and Norway. Addi’onally, Kingsrose was
selected for the first cohort of the BHP Xplor explora’on accelerator program which operated
from January to June 2023.
For Further InformaSon:
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
Twiker: @EnergyMetals | @USBakeryMetals | @ElementMinerals
Global Energy Metals CorporaSon
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals Corp. offers investment exposure to the growing rechargeable baTery and
electric vehicle market by building a diversified global por1olio of explora/on and growth-stage
baTery mineral assets.
Global Energy Metals recognizes that the prolifera/on and growth of the electrified economy in
the coming decades is underpinned by the availability of baTery metals, including cobalt, nickel,
copper, lithium and other raw materials. To be part of the solu /on and respond to this
electrifica/on movement, Global Energy Metals has taken a ‘consolidate, partner and invest’
approach and in doing so have assembled and are advancing a por 1olio of strategically
significant investments in baTery 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 /ng-in, exploring and developing
prospec/ve, scaleable assets in established mining and processing jurisdic/ons in close proximity
to end-use markets. Global Energy Metals is targe/ng projects with low logis/cs and processing
risks, so that they can be fast tracked to enter the supply chain in this cycle. The Company is also
collabora/ng with industry peers to strengthen its exposure to these cri/cal commodi/es and
the associated technologies required for a cleaner future.
Securing exposure to these cri /cal minerals powering the eMobility revolu /on is a
genera/onal investment opportunity. Global Energy Metals believes Now is the Time to be part
of this electrifica/on movement.
CauSonary Statement on Forward-Looking InformaSon:
Certain informa/on in this release may cons/tute forward-looking statements under applicable
securi/es laws and necessarily involve risks associated with regulatory approvals and /melines.
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Although Global Energy Metals believes the expecta/ons expressed in such forward-looking
statements are based on reasonable assump/ons, 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 obliga/on
to update these forward-looking statements in the event that management’s beliefs, es/mates
or opinions, or other factors, should change.
GEMC’s opera/ons 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 opera/ons
and the ability of others to meet their obliga /ons, including uncertain/es rela/ng to the
ul/mate geographic spread of the virus, the severity of the disease, the dura /on of the
outbreak, and the length of travel and quaran /ne restric/ons imposed by governments of
affected countries. In addi/on, a significant outbreak of contagious diseases in the human
popula/on could result in a widespread health crisis that could adversely affect the economies
and financial markets of many countries, resul/ng in an economic downturn that could further
affect opera/ons and the ability to finance its opera/ons.
For more informa/on 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 Regula/on 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.