GEMC.V · 2023-04-27 12:00:00

Powered BY Cobalt … Driven BY Demand Global Energy Metals Consolidates 100% Ownership IN Lovelock MINE and Treasure Box Projects, TWO Growth- Stage Strategic Battery Metal Projects IN Nevada, USA

Corporate Updates

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 CONSOLIDATES 100% OWNERSHIP IN

LOVELOCK MINE AND TREASURE BOX PROJECTS, TWO GROWTH-

STAGE STRATEGIC BATTERY METAL PROJECTS IN NEVADA, USA

Vancouver, BC / TheNewswire / April 27, 2023 / Global Energy Metals

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

Metals” , the “Company” and/or “GEMC”) , a mul’-jurisdic’onal, mul’-

commodity cri’cal mineral explora’on and development company focused on

growth-oriented ba<ery metal projects suppor’ng the global transi’on to

clean energy, is pleased to announce it has entered into a deﬁni’ve binding

agreement to consolidate 100% ownership of the Lovelock Mine and Treasure

Box projects in Nevada, USA (the “Projects”) via a mineral claim purchase

agreement with Nevada Sunrise Metals Corpora’on (“Nevada Sunrise”) (the

“Transac’on”).

HIGHLIGHTS

• GEMC to consolidate 100% ownership of the Lovelock and Treasure Box

projects

• The Transac’on will increase the current interest in the Projects from the

current 85% to 100%

• GEMC holding 100% ownership of the Project will simplify decision-making

and provides the op’mal structure to oversee the rapid explora ’on and

development of key U.S. based cri’cal minerals projects.

• Consolida’on of 100% of the Projects’ ownership will de-risk the funding

pathway and enhance GEMC’s ability to source capital for the development of

the Projects from a wider range of providers when compared with the exis’ng

joint venture ownership structure

• Considera’on will be paid in GEMC shares, subject to TSX Venture Exchange

approval, ves’ng over 12 months thereby allowing the shareholders of the

vendor to retain exposure to the Projects

Mitchell Smith, GEMC President and CEO commented:

“We are extremely pleased to have reached an agreement with Nevada

Sunrise to consolidate 100% ownership of the Lovelock Mine and Treasure Box

projects. The excepDonal exploraDon ﬁndings to date demonstrate the exciDng

potenDal for copper, nickel and cobalt mineralizaDon at a district scale in

Nevada, a top Der mining jurisdicDon.

This transacDon is a highly raDonal step for GEMC. By assuming full control of

the Projects, GEMC will create a strong plaMorm from which to develop and

fund these baNery mineral projects. We look forward to conDnuing to deliver

long-term value for our shareholders by unlocking the poten Dal of these

criDcally important technology enabling metals.”

Consolida’ng 100% ownership under GEMC provides the op’mal structure to

oversee the rapid development of the Projects by streamlining decision

making and execu’on. The Transac’on will simplify and de-risk the funding

pathway for the Projects and will greatly enhance the Company’s ability to

source capital from a wider pool of investors. Management believes that this

in turn may poten’ally deliver enhanced returns to shareholders as the

Projects advance.

Please refer to the GEMC news release dated January 31, 2023 providing a

detailed summary of the results from mul’ple explora’on programs carried

out in 2022 at the Projects located in the S’llwater Range in Nevada, USA,

along with an overview of the Company’s near term project advancement

ini’a’ves following the explora’on results.

The Company currently owns a 85% interest in the Projects with Nevada

Sunrise holding 15%. Following comple’on of the Transac’on, Global Energy

Metals will have an undivided 100% interest in the Projects subject to the 2%

net smelter royalty in favour of Primus Resources L.C. (the “Royalty”).

Global shall have the right, exercisable at any ’me, to purchase up to 50% of

the Royalty granted to Primus Resources L.C. (“Primus”) by payment to Primus

of US$1,500,000 subject to a protec’on hedge against inﬂa’on of the U.S.

Dollar, using an agreed upon price of $3.25 per pound copper . Upon payment

of US$1,500,000 or the cash value of 462,000 (four hundred, sixty two

thousand) pounds copper, whichever value is greater at the ’me of the

purchase of half of the Royalty, the Royalty shall be reduced to 1% of Net

Smelter Returns, eﬀec’ve as of the date of such payment and provided that

Products produced before the date of such payment shall be subject to the

2% Royalty.

As considera’on for the Transac’on, and subject to receiving approval from

the TSX Venture Exchange, the Company will issue 2,500,000 shares in GEMC

to Nevada Sunrise. The shares will vest in four equal instalments of 625,000

shares on the fourth, sixth, ninth and tweldh months from issuance.

About Lovelock

The Property currently consists of 81 unpatented lode claims in the Co<on-

wood Canyon area of the S’llwater Range totaling approximately 1,586 acres

(642 hectares). It was discovered by George Lovelock and Charles Bell about

1880. According to U.S. Government annual reports, the Lovelock Mine saw

limited produc’on of nickel, copper and cobalt beginning in 1883. The prima-

ry cobalt mineral was iden’ﬁed as “cobal’te”. The general average of the 200

tons shipped in 1886 averaged 14 percent cobalt and 12 percent nickel. The

mine operated from 1883 to 1890 to the 100 foot level, repor’ng 500 tons of

cobalt and nickel mineralized material shipped to England for processing. Af-

ter intermi<ent produc’on, an English company a<empted smel’ng on site in

1898 but li<le or no produc’on was made (Source: “Mineral Resources of the

United States for 1885” , 1886). No further produc’on from the Lovelock Mine

is known for well over a century providing GEMC an excellent opportunity to

unlock the poten’al value of the deposit through explora’on work. In a re-

cent drill program at Lovelock by GEMC, elevated values of cobalt, nickel and

copper were intercepted in three of the holes which targeted possible miner-

aliza’on beneath the historical mine workings.

About Treasure Box

Treasure Box hosts mine workings from limited copper produc ’on, which

occurred un’l early into the 20th century. A historical diamond drill hole (circa

1910) drilled at the Treasure Box by the Boyer-Nevada Copper Company

reportedly intersected 1.52% copper over 85 feet (25.9 metres) with

mineraliza’on beginning at surface. A reverse circula’on hole drilled on the

Treasure Box by Utah Interna’onal in 1976 returned 1.55% copper over 40

feet (12.2 metres) from a depth of 85 to 125 feet (25.9 to 38.1 metres), and

the hole was stopped in chalcopyrite mineraliza’on. The core Treasure Box

claims were held con’nuously for over 20 years by a private company but

were relinquished in September 2017, leading to their acquisi’on by Nevada

Sunrise. GEMC received approval from the US Bureau of Land Management

(the “BLM”) for a proposed explora’on and drill plan at the Treasure Box

project that includes up to thirteen (13) ver’cal drill holes from thirteen (13)

diﬀerent loca’ons. Planned drill hole lengths range from 350 feet (107

metres) to 500 feet (152 metres). Total drilling is an’cipated to be 5,850 feet

(1,784 meters), with a minimum drilling length of three (3) drill holes totaling

1,350 feet (412 metres). Depending on ﬁndings, individual drill hole lengths

could be extended by 30 to 50 feet (10 to 15 metres) as determined by the

company’s on-site representa’ve. The targeted prospects have been

iden’ﬁed by Global Energy Metals through a systema’c explora’on program

over the past several months that has included an airborne magne’c survey,

reinterpreta’on of historical Induced Polariza’on (IP) data, detailed mapping

and desktop review of historical data including past drilling.

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. He

is a shareholder and Director of the Company.

Global Energy Metals CorporaCon

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

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

rechargeable baNery and electric vehicle market by building a diversi ﬁed

global porMolio of exploraDon and growth-stage baNery mineral assets.

Global Energy Metals recognizes that the prolifera Don and growth of the

electriﬁed economy in the coming decades is underpinned by the availability

of baNery metals, including cobalt, nickel, copper, lithium and other raw

materials. To be part of the solu Don and respond to this electri ﬁcaDon

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

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

strategically signiﬁcant investments in baNery metal resources.

As demonstrated with the Company’s current copper, nickel and cobalt

projects in Canada, Australia, Norway and the United States, GEMC is

invesDng-in, exploring and developing prospec Dve, scaleable assets in

established mining and processing jurisdicDons in close proximity to end-use

markets. Global Energy Metals is targeDng projects with low logisDcs and

processing risks, so that they can be fast tracked to enter the supply chain in

this cycle. The Company is also collabora Dng with industry peers to

strengthen its exposure to these cri Dcal commodiDes and the associated

technologies required for a cleaner future.

Securing exposure to these criDcal minerals powering the eMobility revoluDon

is a generaDonal investment opportunity. Global Energy Metals believes Now

is the Time to be part of this electriﬁcaDon movement.

For Further InformaCon:

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

Twi<er: @EnergyMetals | @USBaGeryMetals | @ElementMinerals

CauConary Statement on Forward-Looking InformaCon:

Certain informaDon in this release may consDtute forward-looking statements

under applicable securiDes laws and necessarily involve risks associated with

regulatory approvals and Dmelines. Although Global Energy Metals believes

the expectaDons expressed in such forward-looking statements are based on

reasonable assumpDons, 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 Don to update these forward-looking

statements in the event that management’s beliefs, esDmates or opinions, or

other factors, should change.

GEMC’s operaDons 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 operaDons and the ability of others to meet

their obligaDons, including uncertainDes relaDng to the ulDmate geographic

spread of the virus, the severity of the disease, the duraDon of the outbreak,

and the length of travel and quaranDne restricDons imposed by governments

of aﬀected countries. In addiDon, a signiﬁcant outbreak of contagious diseases

in the human populaDon could result in a widespread health crisis that could

adversely aﬀect the economies and ﬁnancial markets of many countries,

resulDng in an economic downturn that could further aﬀect operaDons and

the ability to ﬁnance its operaDons.

For more informaDon 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 RegulaDon 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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