GEMC.V · 2018-11-06 12:00:00

Powered BY Cobalt … Driven BY Demand Global Energy Metals Announces Exceptional Cobalt and Copper Recoveries from Metallurgical Test Work at Millennium Cobalt Project IN Australia; Cobalt Recoveries Exceeded 95%

Metallurgy & Processing

TSX.V GEMC 

www.globalenergymetals.com

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GLOBAL ENERGY METALS ANNOUNCES EXCEPTIONAL

COBALT AND COPPER RECOVERIES FROM METALLURGICAL

TEST WORK AT MILLENNIUM COBALT PROJECT IN

AUSTRALIA; COBALT RECOVERIES EXCEEDED 95%

Vancouver, BC / TheNewswire / November 6, 2018 / Global Energy

Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1

(“Global Energy Metals”, the “Company” and/or "GEMC") is pleased

to report exceptionally positive results from the initial metallurgical

program conducted over the northern quartzite zone of the

Millennium Cobalt Project (“Millennium”) in Mt. Isa, Queensland

Australia.

Mitchell Smith, President & CEO commented:

“Having achieved these excellent metallurgical results is remarkable

at this growth stage of project development. The 2018 drilling

program at Millennium confirmed previous exploration work further

demonstrating that this deposit has exceptional cobalt mineralisation

continuity over a significant area and is open along strike and at

depth, increasing the potential for resource expansion. Following our

highly anticipated outright acquisition of the project we look

forward to rapidly advancing the Millennium Cobalt project on all

fronts including further drilling and additional metallurgical studies

planned for 2019.”

Two composite samples were sourced from diamond drill core

(MIDD001-MIDD010) from a program conducted at Millennium during

the first phase exploration program w h i c h c o n t i n u e d f o r s e v e r a l

months over the first half of 2018. The drilling tested the northern

quartzite domain that contains the majority of the known resource at

Millennium.

Highlights of the metallurgical test work include:

•Production of separate cobalt (Co) and copper (Cu) rougher

concentrate streams is possible.

•High-grade composite peak rougher floatation test:

•Combined Cu recovery of 95.1%

•Combined Co recovery of 95.4%

•Au total recovery of 81.4% reporting dominantly to the Cu

concentrate

•Low-grade composite peak rougher floatation test:

•Combined Cu recovery of 91.3%

•Combined Co recovery of 91.7%

•Au total recovery of 77.9% reporting dominantly to the Cu

concentrate

•It is expected that the concentrate grades may increase on re-grind

and final cleaner floatation. This test-work will be conducted in

2019.

The results are considered very encouraging. Looking ahead, further

drilling is planned on both the northern and southern portion of the

Millennium deposit to expand and upgrade the current resource. This

will be accompanied by ongoing metallurgical characterization.

GEMC has entered into a binding agreement (the "Agreement") with

joint venture partner Hammer Metals ("Hammer") to acquire the

balance of the interest in the Millennium Cobalt Project as well as the

Mt. Dorothy Cobalt Project and the Cobalt Ridge Project (collectively

the “Mt. Isa Projects”), such that it will hold 100% of both Millennium

and the Mt. Isa Projects. This accelerated acquisition of cobalt rich

assets positions GEMC as the region’s leading cobalt explorer/

developer building a district-scale cobalt opportunity in Queensland

Australia’s Mt. Isa prolific mining jurisdiction.

First Stage Metallurgical Program:

Two composites were sourced from diamond drill core from a program

conducted during the first quarter of 2018 (refer to ASX releases

January 17th, June 5th and July 19th.) The drilling was testing what is

termed the northern quartzite domain at Millennium. This domain

hosts the majority of the Millennium Co-Cu-Au resource.

The test-work was done by ALS Metallurgy (“ALS”) in Adelaide. The

aims of the test-work were:

(1)determine Cu, Co and Au recoveries via rougher floatation;

(2)determine preliminary comminution parameters; and

(3) determine the main cobalt and copper minerals in concentrates.

Table 1 – Composite head grade assays (HG – high grade and LG – low

grade)

Twelve rougher float tests were undertaken on the high-grade and

low-grade composites. Each test was conducted using different grind

and reagent settings. The optimum settings were obtained in tests

HG-7 and LG-5 and the results of these tests are summarised below.

Quartzite is the main host lithology for this domain at Millennium and,

as expected, the comminution test work reported results are

Cu (%) Co (%) Au (g/t) Ag (g/t)

0.45 0.18 0.16 <2

0.28 0.04 0.09 <2

Composite

QFR HG

QFR LG

indicative of a silica rich gangue material. The SMC test classified the

composites as “very hard”, abrasion tests as “slightly abrasive” and

the Ball Mill index test as “hard”.

Optical mineralogy and XRD analysis indicated that copper was

exclusively present as chalcopyrite (CuFeS2) and cobalt was identified

in both cobaltite (CoAsS) and catterite (CoS2).

Table 2 – Rougher float test results for high-grade and low-grade

composites

Table 3 – Rougher float test parameters

Figure 1. Oblique view of the Millennium deposit. The quartzite

domain is largely present at Millennium North

% % Rec’y % % Rec’y ppm % Rec’y ppm % Rec’y

Cu Con 20.6 90.8 0.48 5.4 5.1 45.6 0.23 2.5

Co Con 0.4 4.3 3.12 89.9 1.5 35.8 3.39 93.1

Total Con 95.1 95.4 81.4 95.6

High Grade Composite - Optimum Test – Combined Rougher Concentrate

HG-7

Test No. Product Cu Co Au

% % Rec’y % % Rec’y ppm % Rec’y ppm % Rec’y

Cu Con 16.9 85.2 0.26 7.8 4.3 51.0 0.14 4.9

Co Con 0.5 6.1 1.16 83.9 0.9 27.0 1.00 88.4

Total Con 91.3 91.7 77.9 93.2

Low Grade Composite - Optimum Test – Combined Rougher Concentrate

LG-5

Test No. Product Cu Co Au

Collector Depressant/ Activator

Cu 3 10.5 Cytec A3894: 20 NaCN: 15

Co 12 8.5 Cytec 3477: 10

SIBX: 120 CuSO4: 200

Cu 3 10.5 Cytec A3894: 20 NaCN: 10

Co 10 8.7 Cytec 3477: 10

SIBX: 100 CuSO4: 200

Float Parameters

Reagent Additions, g/t

QFR HG HG-7

QFR LG LG-5

Sample Test No. Circuit Float Time,

min pH

Figure 2. Northern Zone at Millennium showing the mineralised

Quartzite

The location of the northern quartzite domain (shaded in orange).

The mineralised portion of the domain is shaded in red

About ALS Metallurgy

ALS Metallurgy is the global leader in metallurgical testing and

consulting services for mineral process flowsheet development and

optimisation. Extensive bench scale laboratory, large scale pilot plant

facilities and expert metallurgists, provide mineral processing,

hydrometallurgical, mineralogical and in-plant services to the global

resources community. Our metallurgical solutions are internationally

recognised by the mining, engineering and financial sectors for all

major commodities.

Qualified Person

Mr. Paul Sarjeant, P . Geo., the Company’s VP Projects and Director, is

the qualified person for this release as defined by National Instrument

43-101 - Standards of Disclosure for Mineral Projects and has reviewed

and verified the technical information contained herein.

Global Energy Metals Corporation

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

Global Energy Metals is focused on offering security of supply of

cobalt, a critical material to the growing rechargeable battery

market, by building a diversified global portfolio of cobalt assets

including project stakes, projects and other supply sources. GEMC

anticipates growing its business by acquiring project stakes in battery

metals related projects with key strategic partners. Global Energy

Metals currently owns and is advancing the Werner Lake Cobalt Mine

in Ontario, Canada and has entered into an agreement to earn-in to

the Millennium Cobalt Project in Mt. Isa, Australia.

For Further Information:

Global Energy Metals Corporation

#1501-128 West Pender Street

Vancouver, BC, V6B 1R8

Email: [email protected]

t. + 1 (604) 688-4219 extensions 236/237

Cautionary Statement on Forward-Looking Information:

Certain information in this release may constitute forward-looking

statements under applicable securities laws and necessarily involve

risks associated with regulatory approvals and timelines. Although

Global Energy Metals believes the expectations expressed in such

forward-looking statements are based on reasonable assumptions,

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 obligation to update these forward-looking statements

in the event that management’s beliefs, estimates or opinions, or

other factors, should change. For more information 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 Regulation 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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