GEMC.V · 2023-01-23 12:00:00

Powered BY Cobalt … Driven BY Demand Global Energy Metals Announces High-Tech Metals Raises AUD $4.718M, Lists ON the ASX and Completes ON Acquisition of the Werner Lake Copper-Cobalt Project Resulting IN Global Energy Becoming a 7.6% Shareholder

Mergers & Acquisitions Property Options & Staking

TSX.V GEMC

www.globalenergymetals.com

Suite 1501,

Sun Tower

128 West Pender St. Vancouver,

V6B 1R8

T +1.604.688.4219

TwiGer @EnergyMetals

GLOBAL ENERGY METALS ANNOUNCES HIGH-TECH METALS

RAISES AUD $4.718M, LISTS ON THE ASX AND COMPLETES ON

ACQUISITION OF THE WERNER LAKE COPPER-COBALT PROJECT

RESULTING IN GLOBAL ENERGY BECOMING A 7.6% SHAREHOLDER

IN HIGH-TECH

Vancouver, BC / TheNewswire / January 23, 2023 / Global Energy Metals

CorporaBon 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 and development company focused on

growth-oriented ba<ery metal projects suppor’ng the global transi’on to

clean energy, is pleased to report that High-Tech Metals Limited (“High-Tech”)

and/or “HTM”) has completed on the acquisi’on of the Werner Lake copper-

cobalt project in Ontario, Canada (“Werner Lake” and/or the “Project”) having

raised AUD $4,718,000 and closing its ini’al public oﬀering with its admission

to the Australian Stock Exchange (“ASX”) under trading symbol HTM.

Highlights of the TransacRon

•HTM acquires the Werner Lake Cobalt Project located in north-western On-

tario, within the Kenora Mining District from Global Energy Metals Corpora-

Xon (70%) and Marquee Resources Limited (30%).

•AUD $50,000 cash and 2,500,000 shares of High-Tech were received by

GEMC upon closing of the transacXon making Global Energy a 7.6% share-

holder of High-Tech.

•High-Tech now listed on the ASX with trading symbol HTM having raised

AUD $4.718M dollars on its IPO.

•Indicated mineralisaXon remains open at depth and along strike with the

potenXal for undiscovered high grade zones.

•SubstanXal exploraXon has been commiGed to by High-Tech as they work to

unlock the high-grade cobalt and copper potenXal of the Werner Lake prop-

erty.

Mitchell Smith, CEO of Global Energy Metals commented:

“We are very pleased to close on this transac3on with High-Tech Metals and

see the Werner Lake project with a group focused on advancing it and expos-

ing its poten3al at such a pivotal 3me when Canada is posi3oning to be a

powerhouse in the supply of technology enabling metals essen3al to an elec-

triﬁed future. This transac3on exempliﬁes Global Energy’s business model of

iden3fying, acquiring and developing quality projects, to further advance the

assets and mone3ze them through substan3al equity posi3ons in our partners.

The AUD $4.718M raised by High-Tech for Werner Lake reiterates the strength

of our project porSolio and highlights the unrealized value the market current-

ly holds for Global Energy and the opportunity it presents for new and exis3ng

shareholders at today’s valua3on.”

HTM’s ExecuBve Director, Sonu Cheema, commented:

“The world needs more high-quality cobalt and High-Tech is commiTed to be-

gin work to realize the poten3al of the Werner Lake Cobalt Project in a sus-

tainable and responsible manner to ensure strong outcomes for all stakehold-

ers. Having completed the IPO, High-Tech is in a unique posi3on to advance

explora3on on its ﬂagship project focused on EV metals in a 3er-1 jurisdic3on.

On behalf of the High-Tech Metals Board, we welcome all shareholders onto

our register”

TransacBon Terms

The Mineral Property Purchase and Sale Agreement provided, amongst other

ma<ers, that the aggregate purchase price for Werner Lake is AUD $700,000

of which AUD $50,000 was paid to the Company on execu’on of the Mineral

Property Purchase and Sale Agreement and the balance of which was

sa’sﬁed by the issuance of a total of 3,250,000 shares of High-Tech (the

“Considera’on Shares”) as to 2,500,000 Considera ’on Shares to Global

Energy Metals and 750,000 Considera’on Shares to Marquee Resources Ltd

based on project ownership.

Global Energy now holds 7.6% in High-Tech following High-Tech closing AUD

$4.718 million as part of its IPO to the ASX.

Funds raised by High-Tech will be used to advance explora’on of the Werner

Lake project, iden’fy addi’onal opportuni’es to grow the company, and for

general corporate and working capital purposes.

ExploraBon Upside and Work Program

• The Werner Lake project is located in Ontario, one of the safest mining

jurisdic’ons in the world.

•The Company’s planned technical explora’on program for the Project will

aim to review the exis’ng explora’on and geological data, evaluate drill

targets that weren’t previously drilled and establish new drill targets at the

Project.

•HTM seeks to further establish new drill targets outside of the exis ’ng

orebody by u’lizing electromagne’c techniques.

•Planned drilling program over the drill targets deemed to best provide

opportuni’es for mineralisa’on to be undertaken with drilling to provide

material for more advanced metallurgical test-work.

•Previous mining indicates that the Mineral Resource is likely amenable to

metallurgical extrac’on via tradi’onal process methods.

•Experienced Board and Management with extensive understanding of the

Project and rela’onships with key stakeholders within the region that have

ac’vely worked on the Project and will help progress forward plans.

Werner Lake Project

The project is located near the Ontario-Manitoba border in the Kenora Mining

District. The Werner Lake Geological Belt hosts numerous cobalt-copper and

base metal showings, deposits and past producing mines. The two largest

cobalt deposits deﬁned to date are the Werner Lake Minesite Deposit and the

West Cobalt Deposit. The area has seen extensive explora ’on and

development work since the original discovery of cobalt in 1921. The Werner

Lake Cobalt Mine produced cobalt ore in the 1930s and 1940s from the “Old

Mine Site” deposit area and with the discovery of the main ore area at the

West Cobalt Deposit, was taken to produc’on decision in the late 1990s. At

the ’me, infrastructure was put in place, including four season road, mill

buildings, and tailings se<ling area. Decline ramp, drijs and raises of over 258

metres were driven into the heart of the deposit. Mineralisa ’on remains

open at depth and along strike with the poten’al for undiscovered high grade

zones. Metallurgical studies have shown that excellent cobalt recoveries can

be yielded from a standard ﬂota’on mill process followed by a low-pressure

oxida’ve hydrometallurgical leach (net recovery 88%), to produce a cobalt

carbonate end product.

Figure 1. Werner Lake Project Loca3on

Qualiﬁed Person

Mr . Paul Sarjeant, P . Geo., is the qualiﬁed person for this release as deﬁned by

Na’onal Instrument 43-101 - Standards of Disclosure for Mineral Projects. He

is a Director and shareholder of the Company.

About High-Tech Metals Limited

High-Tech Metals Limited (ASX:HTM) is an ASX-listed company focused on the

explora’on and development of its ﬂagship, 100 per cent owned Werner Lake

Cobalt Project (the Project) located in north-western Ontario, within the

Kenora Mining District, approximately 85 km north-northwest of Kenora,

Ontario and approximately 170 km east-northeast of Winnipeg, Manitoba.

The Project was acquired from Global Energy Metals Corpora’on (70%) and

Marquee Resources Limited (30%).

Global Energy Metals CorporaBon

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

Global Energy Metals Corp. o ﬀers investment exposure to the growing

rechargeable baTery and electric vehicle market by building a diversi ﬁed

global porSolio of explora3on and growth-stage baTery mineral assets.

Global Energy Metals recognizes that the prolifera 3on 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 3on and respond to this electri ﬁca3on

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

approach and in doing so have assembled and are advancing a por Solio 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

inves3ng-in, exploring and developing prospec 3ve, scaleable assets in

established mining and processing jurisdic3ons in close proximity to end-use

markets. Global Energy Metals is targe3ng projects with low logis3cs and

processing risks, so that they can be fast tracked to enter the supply chain in

this cycle. The Company is also collabora 3ng with industry peers to

strengthen its exposure to these cri 3cal commodi3es and the associated

technologies required for a cleaner future.

Securing exposure to these cri3cal minerals powering the eMobility revolu3on

is a genera3onal investment opportunity. Global Energy Metals believes Now

is the Time to be part of this electriﬁca3on movement.

For Further InformaBon:

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

Twi<er: @EnergyMetals | @USBa<eryMetals | @ElementMinerals

CauBonary Statement on Forward-Looking InformaBon:

Certain informa3on in this release may cons3tute forward-looking statements

under applicable securi3es laws and necessarily involve risks associated with

regulatory approvals and 3melines. Although Global Energy Metals believes

the expecta3ons expressed in such forward-looking statements are based on

reasonable assump3ons, such statements are not guarantees of future

performance and actual results or developments may diﬀer materially from

those in the forward-looking statements. Except as required by law, the

Company undertakes no obliga 3on to update these forward-looking

statements in the event that management’s beliefs, es3mates or opinions, or

other factors, should change.

GEMC’s opera3ons 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 opera3ons and the ability of others to meet

their obliga3ons, including uncertain3es rela3ng to the ul3mate geographic

spread of the virus, the severity of the disease, the dura3on of the outbreak,

and the length of travel and quaran3ne restric3ons imposed by governments

of aﬀected countries. In addi3on, a signiﬁcant outbreak of contagious diseases

in the human popula3on could result in a widespread health crisis that could

adversely aﬀect the economies and ﬁnancial markets of many countries,

resul3ng in an economic downturn that could further aﬀect opera3ons and

the ability to ﬁnance its opera3ons.

For more informa3on 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 Regula3on 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.

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