Powered BY Cobalt … Driven BY Demand Global Energy Metals Granted Uranium Royalty ON Saskatchewan-Based Projects and Shares IN Terra Balcanica; Terminates Agreement with Fulcrum Metals
TSX.V GEMC
www.globalenergymetals.com
Suite 1501,
Sun Tower
128 West Pender St. Vancouver,
BC
V6B 1R8
T +1.604.688.4219
TwiGer @EnergyMetals
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GLOBAL ENERGY METALS GRANTED URANIUM ROYALTY ON
SASKATCHEWAN-BASED PROJECTS AND SHARES IN TERRA
BALCANICA; TERMINATES AGREEMENT WITH FULCRUM METALS
Vancouver, BC / TheNewswire / April 3, 2024 / Global Energy Metals
CorporaUon TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (“Global Energy
Metals” , the “Company” and/or “GEMC”) , a mulK-jurisdicKonal, mulK-
commodity criKcal mineral exploraKon, development and project generaKng
company focused on growth-oriented projects suppor Kng the global
transiKon to clean energy announces that, further to the Company's news
release dated January 30, 2024, the Company has mutually agreed with
Fulcrum Metals Plc. ("Fulcrum") to terminate the royalty purchase and opKon
agreement entered into in January 2024 pursuant to which Global agreed to
acquire an immediate 0.5% royalty on net smelter returns (the “NSR”) in
Fulcrum’s Charlot-Neely, Fontaine Lake, Snowbird and South Pendleton
uranium projects (collecKvely the “Projects”) located in Saskatchewan,
Canada. GEMC will also terminate the opKon to acquire a 19.9% interest in
the Projects.
The Company is pleased to announce that it, in collaboraKon with Fulcrum,
was instrumental in aGracKng a new strategic partner and as a result the
entering of an agreement between Terra Balcanica Resources Corp. (“Terra”)
and Fulcrum, whereby Terra intends to acquire 100% interest in the Fulcrum
uranium projects through an OpKon Agreement (the “OpKon Agreement”).
Details of this OpKon Agreement can be found in announcements made by
both Terra and Fulcrum.
As consideraKon for terminaKng the exisKng prior agreement between
Fulcrum and Global Energy, Global Energy will be compensated with the
equivalent of C$150,000 in shares in Terra on closing of the OpKon Agreement
and granted a 0.5% NSR over the Saskatchewan based project por folio
collecKvely encompassing 596.71 km2 o f h i g h l y p r o s p e cKve ground for a
uranium discovery.
Highlights:
•Exposure to uranium, a new commodity to Global Energy’s exisKng project,
equity and royalty porfolio;
•Strategic equity posiKon in Terra Balcanica, a publicly listed mul K-
commodity company with a new focus on uranium explora Kon in the
Athabasca Basin (“Basin”);
•Historical work at the Projects has demonstrated evidence of uranium
mineralizaKon along favourable structural trends with prospec Kve target
horizons based on electromagneKc conductors;
•Proximal to northern and southeastern edges of the Basin in northern
Saskatchewan, a premium mining district and leading global source of high-
grade uranium;
•Charlot-Neely is located within the emerging Uranium City district on the
northwestern margin of the Basin;
•ExploraKon expenditures by Terra totalling $3,250,000 prior to the fourth
anniversary of the OpKon Agreement will aim to determine the resource
potenKal for the Projects.
Mitchell Smith, CEO & Director comments:
“We are excited to have a.racted such a strong opera4onal partner in Terra
Balcanica to apply their technical and jurisdic4onal exper4se to advance these
North American uranium projects at such a pivotal 4me in this new nuclear
era. Through this arrangement, we’re excited to maintain exposure to these
high-quality uranium assets through both the equity posi4on in Terra and the
NSR royalty over the por Folio. This will bolster Global Energy’s exis 4ng
project, royalty and equity porFolio to now include uranium and further
demonstrates the Company’s ability to mone4ze assets for the benefit of
shareholders.”
Figure 1. Regional map of northern Saskatchewan, Canada which is one of the
world's leading sources of high-grade uranium and supplies about 20% of the
world's uranium. The yellow symbols illustrate loca4ons of the four op4oned
explora4on proper4es totalling 596 km2 in the context of the world-famous
Athabasca Basin.
Porbolio Overview and Discovery Opportunity
The project porfolio totals 596.71km2 targeKng major NE-SW trending
structures along strike from historic uranium mines and projects that have
aGracted significant investment. Discoveries such as the Arrow discovery
(4.3m tonnes at 0.83% U308 h Gps://www.nexgenenergy.ca/exploraKon/
overview/) and Triple R discovery (2.7m tonnes at 1.94% U308 h Gps://
fissionuranium.com/projects/triple-r-deposit/project-overview/) have proved
the concept of exploring along structure outside of the Athabasca basin. This
potenKal has been confirmed through iniKal exploraKon and evaluaKon by
Fulcrum in 2023. A significant number of high-grade uranium showings occur
within the Projects in addiKon to historical small-scale uranium mining. Future
exploraKon through the undertaking of a modern systema Kc geologic
evaluaKon to determine the resource potenKal will be a top-priority for Terra.
Terra Balcanica Resources
Terra Balcanica is a polymetallic explora Kon company that up un Kl the
agreement with Fulcrum has been targeKng large-scale mineral systems in the
Balkans of southeastern Europe. The Company has 90% interest in the Viogor-
Zanik Project in Bosnia and Herzegovina, 100% of the Kaludra and Ceovishte
mineral exploraKon licences in southern Serbia. The Company emphasizes
responsible engagement with local communi Kes and stakeholders. It is
commiGed to proacKvely implemenKng Good InternaKonal Industry PracKce
(GIIP) and sustainable health, safety, and environmental management.
Fulcrum Metals Plc
Fulcrum Metals PLC (LON: FMET) is an AIM quoted explora Kon company
which finances and manages exploraKon projects focused on Canada, widely
recognised as a top mining jurisdicKon.
Fulcrum currently holds a beneficial 100% interest in highly prospecKve gold
and base metals projects in Ontario and uranium projects in Saskatchewan.
Fulcrum’s strategy is to focus on discovery and commercialisa Kon of its
Projects through targeted exploraKon programmes. The primary focus is to
make an economic discovery on the flagship Schreiber-Hemlo ProperKes and
to establish the prospecKvity of its wider Ontario and Saskatchewan porfolio
with a view to securing potenKal joint venture and/or acquisiKon interest.
While highly prospecKve, Fulcrum’s mining assets are in the explora Kon
phase, so Fulcrum stands to be able to add significantly to the inherent value
through exploraKon success. Fulcrum will conKnually review opportuniKes
with potenKal and with a view to increasing shareholder value. It is the
Board’s intenKon to deliver medium and long-term growth and to establish
the Group as a significant exploraKon company.
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. He
is a shareholder and Director of the Company.
For Further InformaUon:
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
Global Energy Metals CorporaUon
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals Corp. o ffers investment exposure to the growing
rechargeable ba.ery and electric vehicle market by building a diversi fied
global porFolio of explora4on and growth-stage ba.ery mineral assets.
Global Energy Metals recognizes that the prolifera 4on and growth of the
electrified economy in the coming decades is underpinned by the availability
of ba.ery metals, including cobalt, nickel, copper, lithium and other raw
materials. To be part of the solu 4on and respond to this electri fica4on
movement, Global Energy Metals has taken a ‘consolidate, partner and invest’
approach and in doing so have assembled and are advancing a por Folio of
strategically significant investments in ba.ery metal resources.
As demonstrated with the Company’s current copper, nickel and cobalt
projects in Canada, Australia, Norway and the United States, GEMC is
inves4ng-in, exploring and developing prospec 4ve, scaleable assets in
established mining and processing jurisdic4ons in close proximity to end-use
markets. Global Energy Metals is targe4ng projects with low logis4cs and
processing risks, so that they can be fast tracked to enter the supply chain in
this cycle. The Company is also collabora 4ng with industry peers to
strengthen its exposure to these cri 4cal commodi4es and the associated
technologies required for a cleaner future.
Securing exposure to these cri4cal minerals powering the eMobility revolu4on
is a genera4onal investment opportunity. Global Energy Metals believes Now
is the Time to be part of this electrifica4on movement.
CauUonary Statement on Forward-Looking InformaUon:
Certain informa4on in this release may cons4tute forward-looking statements
under applicable securi4es laws and necessarily involve risks associated with
regulatory approvals and 4melines. Although Global Energy Metals believes
the expecta4ons expressed in such forward-looking statements are based on
reasonable assump4ons, 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 4on to update these forward-looking
statements in the event that management’s beliefs, es4mates or opinions, or
other factors, should change.
GEMC’s opera4ons 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 opera4ons and the ability of others to meet
their obliga4ons, including uncertain4es rela4ng to the ul4mate geographic
spread of the virus, the severity of the disease, the dura4on of the outbreak,
and the length of travel and quaran4ne restric4ons imposed by governments
of affected countries. In addi4on, a significant outbreak of contagious diseases
in the human popula4on could result in a widespread health crisis that could
adversely affect the economies and financial markets of many countries,
resul4ng in an economic downturn that could further affect opera4ons and
the ability to finance its opera4ons.
For more informa4on 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 Regula4on 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.