GEMC.V · 2022-05-18 12:00:00

Powered BY Cobalt … Driven BY Demand Global Energy Metals Announces Partner Funded Drilling Commences at the Millennium Cobalt, Copper and GOLD Project IN Queensland, Australia

Exploration Programs

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GLOBAL ENERGY METALS ANNOUNCES PARTNER FUNDED

DRILLING COMMENCES AT THE MILLENNIUM COBALT, COPPER

AND GOLD PROJECT IN QUEENSLAND, AUSTRALIA

Vancouver, BC / TheNewswire / May 18, 2022 / Global Energy Metals

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

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

exposure to the baGery metals supply chain, is pleased to announce that a

partner funded drilling campaign is well underway at the Millennium cobalt,

copper, and gold project in Queensland, Australia by joint venture partner

Metal Bank Limited (“Metal Bank and/or MBK”). Ini [al observa[ons from

Millennium are encouraging with visible sulphides, including chalcopyrite and

cobal[te, and broad altera[on halos not currently within the resource

envelope.

Global Energy currently holds 100% of the Millennium project and have

entered into a joint venture with Metal Bank, where Metal Bank can earn up

to 80% through signi ﬁcant staged explora[on spend and share equity

payments. For more informa[on please refer to the linked news release

dated December 13, 2021.

Figure 1. Drilling underway at Millennium

CommenRng on MBK’s exploraRon program for Millennium, Metal Bank’s

Chair, Inés Scotland said:

“At Millennium we are aiming to almost double the exis:ng Millennium Re-

source of 5.9Mt @ 1.08% CuEq as well as test adjacent and peripheral targets.

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 valua :on. With a combina:on of resource

growth and the project’s granted Mining Leases the project presents a real

opportunity for near-term development.”

Millennium 2022 Work Program

Drilling at Millennium recently commenced in the Southern Resource area,

targe[ng both shallow and deep extensions to the exis [ng mineralisa[on

along with inﬁll and metallurgical drilling.

Work is progressing northwards through the Central Resource area (Figure 2).

Ini[al observa[ons are encouraging with visible sulphides including chalcopy-

rite and cobal[te within broad altera[on halos not currently within the re-

source envelope. Assays from the earliest drilling samples are expected in

June.

Figure 2. 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

MBK has developed a three-phase work program for Millennium in 2022 seek-

ing to conﬁrm the Explora[on Target for the Project of 8 – 10Mt @ 1.0 – 1.1%

CuEq, and future Resource expansion and development poten[al. For more

informa[on please refer to the news release announced March 16, 2022.

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

compliant Resource update and Scoping Study u[lising appropriate economic

parameters aimed for comple[on late 2022.

Millennium Project

The Millennium Cobalt, Copper and Gold Project near Cloncurry in NW QLD

currently holds a JORC 2012 compliant Inferred Resource of 5.9Mt @ 1.08%

CuEq13 (Cu-Co-Au-Ag) across 5 granted Mining Leases with signiﬁcant poten-

[al for expansion.

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

project with an established processing plant capable of trea[ng Millennium-

style ores once recommissioned.

Recent MBK drilling provided conﬁdence in growth upside to the exis[ng 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).

Following comple[on of the recent drill program Metal Bank commenced a

review of the exis[ng Resource in the Southern and Central Areas of the

Project, MBK’s recent drill results and other previous drilling. In conjunc[on

with signiﬁcant apprecia[on in copper and cobalt prices since maiden Re -

source repor[ng, results from this review provided support for an ini[al Ex-

plora[on Target for the Project of 8 – 10Mt @ 1.0 – 1.1% CuEq.

This Explora[on 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 Explora[on Target is conceptual in nature. There

has been insuﬃcient drilling at depth of the exis[ng Resource and in the

Northern Area of the project and insuﬃcient informa[on rela[ng to the Rea-

sonable Prospects of Eventual Economic Extrac[on (RPEEE) of the Millennium

project to es[mate a Mineral Resource over the Explora[on Target area, and

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

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

insuﬃcient spa[ally in terms of the density of drill holes, and in quality, in

terms of MBK’s ﬁnal audit procedures for down hole data, data acquisi[on

and processing, for the results of this analysis to be classiﬁed as a Mineral Re-

source in accordance with the JORC Code.

As an equity shareholder in Metal Bank, GEMC is also pleased to report that

Metal Bank has been awarded an Explora[on Incen[ve Scheme (EIS) grant of

up to $75,000 of co-funding from the Western Australian government to drill

test a deep structural target at the Stanley prospect at Livingstone. Stanley is

located 10km west of the Homestead Resource and 2.5 km north of the Kings-

ley Resource and has a conﬁrmed 3-4 km long coherent in soil gold anomaly3

which has had limited drilling to date. In addi[on to the work being conduct-

ed at Millennium, GEMC is also beneﬁt to drilling now underway at the Liv-

ingstone gold project in Western Australia with Resource extension drilling at

the Kingsley deposit completed. MBK’s extensive 2022 drilling program at Liv-

ingstone comprises >3,000m of Resource Extension and Explora[on drilling

aiming to increase and update the Project’s resources (80,000 oz Au) by vali-

da[ng and tes[ng mineralisa[on extensions at the Kingsley and the Home-

stead deposits. For addi[onal details please refer to the Metal Bank news re-

lease dated May 17, 2022.

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.

Global Energy Metals Corporation

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

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

rechargeable baYery and electric vehicle market by building a diversi ﬁed

global porZolio of explora:on and growth-stage baYery 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 baYery 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 Zolio of

strategically signiﬁcant investments in baYery 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

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

For Further InformaRon:

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

TwiGer: @EnergyMetals | @USBaGeryMetals | @ElementMinerals

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CauRonary Statement on Forward-Looking InformaRon:

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.

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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.

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