GEMC.V · 2022-03-16 12:00:00

Powered BY Cobalt … Driven BY Demand Global Energy Metals Announces Partner Funded Drilling Campaign to Commence at the Millennium Cobalt-Copper-GOLD Project

Exploration Programs

TSX.V GEMC

www.globalenergymetals.com

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TwiGer @EnergyMetals

GLOBAL ENERGY METALS ANNOUNCES PARTNER FUNDED

DRILLING CAMPAIGN TO COMMENCE AT THE MILLENNIUM

COBALT-COPPER-GOLD PROJECT

Vancouver, BC / TheNewswire / March 16, 2022 / Global Energy Metals

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

Metals” , the “Company” and/or “GEMC”), a company involved in investment

exposure to the ba5ery metals supply chain, is pleased to report a drilling

contract has been executed with Schonknecht Drilling Pty Ltd. for 2022 work

at the Millennium Project in NW Queensland. Drilling is currently scheduled to

commence in April.

With over $10 million raised at the end of last year, Global Energy Metals’

joint venture partner, ASX listed Metal Bank Limited (“MBK”) , is fully

capitalized to pursue and sole fund this work program as part of MBK’s right

to earn up to 80% of the Millennium Copper, Cobalt and Gold project which

holds a JORC 2012-compliant Inferred Resource of 5.9Mt @ 1.08% CuEq 1

across 5 granted Mining Leases.

In 2021, MBK established an Exploraaon Target of 8–10Mt @ 1.0-1.1% CuEq2,

with the ﬁrst drill program intercepang 5m @ 2.92% Cu, 0.50% Co and 1.19g/t

Au (within 22m @ 2.22%)3 and conﬁrming northern extensions to the miner-

alisaaon system.

The 2022 drilling program is aimed at expanding exisang resources at the Cen-

tral and Southern Areas and deﬁning new resources in the Northern Area with

the overall goal of converang the Exploraaon Target into resources.

Figure 1: MI21RC07 drill setup nearing comple;on of 2021 drill program

Highlights

•GEMC’s JV partner funded 2022 exploraaon program at the Millennium Cu-

Co-Au Project, NW Queensland is underway with drilling to commence in

April;

•The Project holds a JORC 2012-compliant Inferred Resource of 5.9Mt @

1.08% CuEq2 across 5 granted Mining Leases;

•The 2022 exploraaon program includes extension, inﬁll and metallurgical

work aimed at signiﬁcantly increasing exisang resources to underpin an

updated JORC 2012 Resource statement in late 2022;

•The Project provides exposure to copper and cobalt – in demand, cri acal

components for the renewable energy transiaon;

•Global Energy Metals currently holds 100% of the MIllennium project with

MBK having the right to earn, in stages, up to an 80% interest in the Project;

and

•With a recent successful capital raising by MBK, GEMC will bene ﬁt from

having a well funded partner to pursue exploraaon and development work

at Millennium aimed at increasing the project’s Resources.

CommenIng on the Millennium exploraIon program for 2022, Metal Bank’s

Chair, Inés Scotland said:

“The 2022 work program at Millennium is aimed at increasing the exis ;ng

Millennium Resource of 5.9Mt @ 1.08% CuEq1. As Australia looks to establish

itself as a global cri;cal minerals supplier, at a ;me of supply constraint and

unprecedented copper and cobalt prices, the Millennium project’s current

Resource already provides signiﬁcant value not yet factored into the current

share price. With a combina;on of resource growth and the project’s granted

Mining Leases the project presents a real opportunity for near-term

development.

Copper and Cobalt

The Millennium Project provides exposure to copper and cobalt – in demand,

criacal components for the renewable energy transiaon.

Cobalt has increased 11,500 USD/MT or 16.31% since the beginning of 2022

and copper reached a record high above the $5-per-pound level in March (see

Figure 2).

Located on granted Mining Leases, with an exisang Resource and signiﬁcant

expansion potenaal, the Project presents an excellent opportunity to advance

and develop a copper-cobalt asset of signi ﬁcant size in close proximity to

processing soluaons and excellent infrastructure in the Mount Isa region.

With escalaang prices, Millennium’s low logisacs and processing risks, the

project is well placed to paracipate in the ba5ery revoluaon.

Figure 2: Cobalt and Copper price charts: source tradingeconomics.com

Millennium Work Program

A three-phase work program for 2022 has been developed to conﬁrm the Ex-

ploraaon Target and future Resource expansion and development potenaal.

Figure 3: Millennium Cu-Co-Au Project long sec;on showing exis;ng drilling,

current resource blocks and priority targets. NB: Intervals are CuEq%-metre as

previously reported.4

The work program comprises:

•Phase 1 – 1800-2000m RC/DD Explora aon Target conﬁrmaaon of scale

drilling program. The aim of this program will test the open Southern and

Central Area shoots at depth, the shallow Northern Area extension and in-

ﬁll, and adjacent Pilgrim/Fountain Range/Quamby Fault Zone resource po-

tenaal;

•Phase 2 – 2000m RC/DD drilling extension program to inﬁll Resource gaps,

extend near surface exisang Resources, ﬁrst pass tesang of peripheral tar-

gets and Phase 1 follow-up; and

•Phase 3 – 1500m RC Resource inﬁll, metallurgical test work, economic as-

sessment and follow-up work from Phase 1 and 2.

•Upon receipt and assessment of results MBK will embark on a JORC 2012-

compliant Resource update and Scoping Study u alising appropriate eco-

nomic parameters aimed for compleaon late 2022.

Figure 4: Millennium Cu-Co-Au Project plan showing interpreted geology, 2016

Inferred Resource and drilling to date.

Millennium Project – MBK earning up to 80%

The Millennium Copper and Cobalt Project near Cloncurry in NW QLD current-

ly holds a JORC 2012-compliant Inferred Resource of 5.9Mt @ 1.08% CuEq 1

(Cu-Co-Au-Ag) across 5 granted Mining Leases with signiﬁcant potenaal for

expansion.

The Millennium Project is located 19km from the Rocklands copper-cobalt

project, operated by Copper Resources Australia Pty Ltd., with an established

processing plant capable of treaang Millennium-style ores once recommis-

sioned.

Recent MBK drilling provided conﬁdence in growth upside to the exisang Re-

source. This included encouraging inﬁll/extension work in the Southern Area

Resource (MI21RC01-2) and signiﬁcantly expanding the system strike and

scale into the Northern Area (MI21RC03-07) (Figures 3 &4).

Following compleaon of the recent drill program a review commenced of the

exisang Resource in the Southern and Central Areas of the Project, recent drill

results and other previous drilling. In conjuncaon with signiﬁcant appreciaaon

in copper and cobalt prices since maiden Resource reporang, results from this

review provided support for an iniaal Exploraaon Target3,4 for the Project of

8–10Mt @ 1.0 – 1.1% CuEq2 (Figures 3 &4).

This Exploraaon Target is based on extensions both along strike and at depth

in both the Southern and Central Area copper-cobalt-gold Resources and also

in the Northern Area, where shallow copper intervals at broad spacing have

been returned some 800-1000m north of the closest Resource.

It should be noted that the Exploraaon Target is conceptual in nature. There

has been insuﬃcient drilling at depth of the exisang Resource and in the

Northern Area of the project and insuﬃcient informaaon relaang to the Rea-

sonable Prospects of Eventual Economic Extracaon (RPEEE) of the Millennium

project to esamate a Mineral Resource over the Exploraaon Target area, and

it is uncertain if further study will result in the es amaaon of a Mineral Re-

source over this area. It is acknowledged that the currently available data is

insuﬃcient spaaally in terms of the density of drill holes, and in quality, in

terms of ﬁnal audit procedures for down hole data, data acquisiaon and pro-

cessing, for the results of this analysis to be classiﬁed as a Mineral Resource in

accordance with the JORC Code.

Qualiﬁed Person

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

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

1 HMX ASX Announcement dated 6 December 2016 and MBK ASX Release dated 13 December

2021 “MBK signs Earn-in and JV Agreement for the Millennium Project.

2 MBK ASX Release dated 13 December 2021 “MBK signs Earn-in and JV Agreement for the

Millennium Project.

3 MBK ASX Release 2 September 2021 “Millennium drilling completed with ﬁrst two holes as-

sayed”

4 MBK ASX Announcement dated 26 October 2021 “Livingstone Acquisi;on & En;tlement Of-

fer to raise $6.34M”

Global Energy Metals Corporation

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

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

rechargeable baiery and electric vehicle market by building a diversi ﬁed

global porjolio of explora;on and growth-stage baiery 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 baiery 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 jolio of

strategically signiﬁcant investments in baiery 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 believe the the

;me to be part of this electriﬁca;on movement.

For Further InformaIon:

Global Energy Metals Corporaaon

#1501-128 West Pender Street

Vancouver, BC, V6B 1R8

Email: [email protected]

t. + 1 (604) 688-4219

www.globalenergymetals.com

Twi5er: @EnergyMetals | @USBa5eryMetals | @ElementMinerals

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CauIonary Statement on Forward-Looking InformaIon:

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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