GEMC.V · 2023-04-20 12:00:00

Powered by Cobalt … Driven by Demand GLOBAL ENERGY METALS ANNOUNCES PARTNER-FUNDED EXPLORATION UPDATE FOR THE RÅNA NICKEL PROJECT IN NORWAY

Exploration Programs

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 PARTNER-FUNDED

EXPLORATION UPDATE FOR THE RÅNA NICKEL PROJECT IN

NORWAY

Vancouver, BC / TheNewswire / April 20, 2023 / Global Energy Metals

CorporaTon TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (“Global Energy

Metals” , the “Company” and/or “GEMC”) , a mulK-jurisdicKonal, mulK-

commodity criKcal mineral exploraKon and development company focused on

growth-oriented baGery metal projects supporKng the global transiKon to

clean energy, is pleased to announce that its strategic partner, Kingsrose

Mining Limited (“Kingsrose”), has provided an update on exploraKon acKviKes

at the brownﬁeld Råna Nickel-Copper-Cobalt (Ni-Cu-Co) project ( t h e

“Project”) in northern Norway. Since Kingsrose announced acquiring

operaKonal control of 211 km2 of explora Kon licences at Rana between

January and March, Kingsrose has built a team of local geologists and support

crew, conducted a rigorous contractor selec Kon process for provision of

geophysical and drilling services, and secured the relevant permits and

dispensaKons required to conduct geophysical surveys.

Geophysical surveys have now commenced with a ground based electromag-

neKc (EM) survey underway and Magnetotelluric (MT) surveys planned for

May 2023 (Figure 1). Combined with geological mapping and geochemical

sampling, this work will focus on the generaKon of drill targets, with drilling

expected to commence in July.

Highlights

•The Råna project has proven potenKal for discovery of massive sulphide Ni-

Cu-Co mineralisaKon and is underexplored using modern deposit models

and exploraKon methods.

•MulKdisciplinary geophysical surveys will be completed between April and

July to allow modelling of the intrusion geology in 3D and iden Kfy

conducKve bodies that may represent nickel-copper-cobalt massive

sulphide mineralisaKon to target in upcoming drilling.

•Contracts have been awarded for the compleKon of airborne MT (Expert

Geophysics), ground MT (Quantec Geoscience), ground EM and borehole

EM (Geovisor) geophysical surveys, designed to:

•assist with geological modelling of the enKre intrusion to depths of

one to >three kilometres;

•idenKfy extensions of known mineralisa Kon at Bruvann and

Ränbogen; and

•explore for conducKve bodies elsewhere within the intrusion and in

oﬀset bodies at or near to the base of the intrusion (up to 1000

metres deep) to generate new exploraKon targets.

•Detailed geological mapping and geochemical sampling will commence in

late April as soon as snow melts to allow observaKon of outcrop. This work

will complement the geophysical surveys and aid data interpretaKon for drill

targeKng purposes.

•A 5000 metre core drilling contract has been awarded to Norse Drilling,

Norway, to commence in July, pending ﬁnal approval of the drill permit

applicaKon which is expected in early May. Drilling will test targets

generated from the above geophysical and geological programs.

•The previously announced transacKon implementaKon agreement allows

for Kingsrose to earn up to 75% over 8 years, through staged expenditure up

to a total of A$15m.

Figure 1: Råna project geology, prospects, and geophysical survey areas.

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

“Global Energy’s collabora@on with Kingsrose, a company with demonstrated

experience and a commitment to project explora@on and development, will

substan@ally enhance the opportunity to realize the full poten@al of the Råna

project and the overall region. We are ﬁrm believers in the tremendous

poten@al for Råna and the opportunity to responsibly develop metals, such as

nickel, that are key to suppor@ng modern society and its transi@on to a low-

carbon future. We see our non-share dilu @ve strategic partnership with

Kingsrose on Råna as a signiﬁcant catalyst to our partner funded explora@on

and development ac@vi@es and overall growth of the Company.”

Fabian Baker, Kingsrose Managing Director, commented:

"The scale of the Rana intrusion and widespread sur ﬁcial mineralisa@on,

coupled with a lack of explora@on via modern geophysics to date, makes the

project a very exci@ng target for the discovery of high-grade nickel-copper-

cobalt mineralisa@on. We have rapidly developed an explora@on strategy and

a high-quality team to operate the project and look forward to providing

regular news ﬂow as the work proceeds through the summer.”

About Kingsrose Mining Limited

Kingsrose Mining Limited is a leading ESG-conscious and technically proﬁcient

mineral exploraKon company listed on the ASX. In 2021 the Company com -

menced a discovery-focused strategy, targeKng the acquisiKon and explo-

raKon of Tier-1 criKcal mineral deposits, that resulted in the acquisiKon of the

Penikat and Porsanger PGE-Nickel-Copper projects in Finland and Norway re-

specKvely.

Qualiﬁed Person

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

NaKonal Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Global Energy Metals CorporaTon

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

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

rechargeable baSery and electric vehicle market by building a diversi ﬁed

global porTolio of explora@on and growth-stage baSery 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 baSery metals, including cobalt, nickel, copper, lithium and other raw

materials. To be part of the solu @on and respond to this electri ﬁca@on

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

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

strategically signiﬁcant investments in baSery 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.

For Further InformaTon:

Global Energy Metals CorporaKon

#1501-128 West Pender Street

Vancouver, BC, V6B 1R8

Email: [email protected]

t. + 1 (604) 688-4219

www.globalenergymetals.com

TwiGer: @EnergyMetals | @USBaGeryMetals | @ElementMinerals

CauTonary Statement on Forward-Looking InformaTon:

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. 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 diﬀer 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.

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