GEMC.V · 2021-12-16 12:00:00

Powered BY Cobalt … Driven BY Demand Global Energy Metals Signs Binding Agreement FOR Royalty Sale ON Norway Based Rana Nickel-Copper- Cobalt Project; Increases Equity Holdings IN Electric Royalties

Mergers & Acquisitions Royalties & Streams

TSX.V GEMC

www.globalenergymetals.com

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Sun Tower

128 West Pender St. Vancouver,

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T +1.604.688.4219

TwiGer @EnergyMetals

GLOBAL ENERGY METALS SIGNS BINDING AGREEMENT FOR

ROYALTY SALE ON NORWAY BASED RANA NICKEL-COPPER-

COBALT PROJECT; INCREASES EQUITY HOLDINGS IN ELECTRIC

ROYALTIES

Vancouver, BC / TheNewswire / December 16, 2021 / Global Energy Metals

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

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

investment exposure to the ba Gery metals supply chain, is pleased to

announce the signing of the deﬁniPve purchase agreement for the previously

announced Rana Nickel Royalty acquisiPon by Electric RoyalPes Ltd. (“Electric

RoyalPes” and/or “ELEC”). As announced, Scandinavian Resource Holdings

(“SRH”) and GEMC created and agreed to sell to ELEC a new 1% Net Smelter

Royalty (the “1% NSR”) on four explora Pon licenses totaling 25 square

kilometers in the Råna maﬁc-ultramaﬁc intrusion in Northern Norway and

includes the past producing Bruvann Nickel mine (the “Råna Project” or

“Råna”).

In connecPon with closing, ELEC will issue total consideraPon of 2,000,000

common shares of the company (“ConsideraPon Shares”) and $100,000 cash

payable to GEMC and SRH in proporPon to project ownership. The Considera-

Pon Shares will be subject to a voluntary escrow lock-up agreement which

provides that 50% of the common shares will be subject to a hold period of 4

months and one day, 25% for 8 months and the remaining 25% for 12 months.

Rana Nickel Project Royalty Highlights

• Includes the past producing Bruvan n Ni-Cu-Co mine which has signi ﬁcant

historical resources remaining acer producPon shut down in 2002 due to low

nickel prices;

•The Rana Nickel Project is located on the Ofoten Fjord in Northern Norway

and is ice-free year-round. The project includes the past producing Bruvann

Ni-Cu-Co mine which was in producPon from 1989 unPl 2002 and processed

8.2 million tonnes of ore at an average grade of 0.52% Ni, 0.1% Cu and

0.02% Co;

•The historical esPmate of the remaining resource is 9.15 million tonnes at

grades of 0.36% Ni, 0.09% Cu and 0.01% Co above a cut-oﬀ of 0.3% Ni1;

No classiﬁca8on of the es8mate was reported. The es8mate is historical in nature

and does not qualify as mineral resources under CIM De ﬁni8on standards and NI

43-101. A qualiﬁed person under has not done su ﬃcient work to classify the

es8mates as current mineral resources and the Company is not trea 8ng them as

current.

•Located in an area with a long history of mining and skilled workforce with

available mine infrastructure including power, roads, and conveyor from

mine site to exisPng port faciliPes;

•Large historical drill database demonstra Png compelling near mine

exploraPon potenPal;

•Under-explored property with demonstrated exploraPon potenPal and re-

start potenPal;

•U.K. based Metals One plc to acquire a 90% interest in the Project with

plans to go public on AIM and commit to a £1 million work program within

the ﬁrst 12 months;

•GEMC to receive cash and share equity in Electric Royal Pes further

increasing its exposure to the company and its growing por lolio of

technology enabling metal projects.

1The past produc8on and historical es8mate for the Råna Project is reported in Carl

Olaf Mathiesen and Rognvald Boyd, 2017: History of explora 8on of the nickel

resources of the Råna Intrusion, Nordland, Norway, NGU Report 2017.31, available

at hXps://www.ngu.no/upload/Publikasjoner/Rapporter/2017/2017_031.pdf

Mitchell Smith, President and CEO commented:

“This transac,on with Electric Royal,es is another example of GEMC execu,ng

on strategy and providing shareholders with increased exposure to the raw

materials that are powering an electriﬁed future. The added beneﬁt of having

Metals One plc transact with SRH and commit to a healthy explora,on budget

aimed at advancing this class-1 nickel sulphide project is also very

encouraging. We look forward to working alongside all par,es in developing

this exci,ng project at a ,me when downstream users race to control more

supply of raw materials that are key to transi ,oning to low-carbon energy

sources, with nickel one of the key metals used in lithium-ion ba Keries for

electric vehicles.”

Brendan Yurik, CEO of Electric RoyalWes commented:

“Under-explored, historically producing nickel mines like Rana in ,er 1

jurisdic,ons are an excellent place to search for future nickel supply to ﬁll the

looming supply / demand gap in an ESG friendly way and with less risk than

greenﬁeld projects. We released an asset update last week capping oﬀ more

than $150 million raised in 2021 by operators of our royalty assets. Now with

Metals One plc coming in to commit to advance Rana in 2022, we’re expec,ng

major updates on more than 60% of our porXolio next year. We’re very excited

to see how this modern explora,on work proceeds as there is lots of upside

and value remaining to be unlocked at the Rana Nickel Project.”

Rana Nickel Royalty Development Update

Acer signing the leGer of intent and prior to closing of this transacPon, Global

Energy Metals is also pleased to announce that Metals One Plc. (“Metals

One”) has signed a deﬁniPve term sheet with SRH to acquire 90% of the Rana

Nickel project held by SRH through a share, cash and project level expenditure

transacPon. Metals One, a private U.K. registered company, plans to complete

an AIM lisPng in Q1 2022. GEMC will maintain a 10% interest in the Project

and be carried on project level expenditures of up to $1.5 million. As part of

the agreement Metals One will be comminng to a £1 million exploraPon

work program within the ﬁrst 12 months with plans to release an updated re-

source within the next 12 to 24 months.

Metals One is an exciPng new baGery minerals exploraPon company focused

on assets in the Scandinavian region and on the doorstep of the burgeoning

European EV market. More detail on Metals One plc can be found at hXps://

metals-one.com.

Rana Nickel Project ExploraWon Upside

All of the mineral occurrences within the 4 mining licenses at Råna are hosted

in the 70km2 Råna maﬁc-ultramaﬁc intrusion. The most signiﬁcant of these

occurrences is the formerly producing Bruvann Nickel Mine which was

operated from 1989 to 2002 by Nickel og Olivin AS in associa Pon with

Outokumpu OY . Signiﬁcant underground resources remain at Bruvann and it

is the most important asset on the property. Recent exploraPon work guided

primarily by geophysics elsewhere within the licenses has shown good

potenPal to discover addiPonal nickel-copper deposits.

Rana Project Overview

The Råna Nickel-Copper-Cobalt project is jointly held by GEMC and SRH and

located on the Ofoten Fjord in Northern Norway and is ice-free year-round.

The project includes the past producing Bruvann Ni-Cu-Co mine which was in

producPon from 1989 unPl 2002 and processed 8.2 million tonnes of ore at an

average grade of 0.52% Ni, 0.1% Cu and 0.02% Co.

The historical esPmate of the remaining resource is 9.15 million tonnes at ap-

proximate grades of 0.36% Ni, 0.09% Cu and 0.01% Co above a cut-oﬀ of 0.3%

Ni. The mineralizaPon is reported to be open in several direcPons.

The esPmate was obtained from a report prepared by the Norwegian Geolog-

ical Survey (NGU). No classiﬁcaPon of the esPmate was reported. The esP-

mate is historical in nature and does not qualify as mineral resources under

CIM DeﬁniPon standards and NI 43-101. A qualiﬁed person under has not

done suﬃcient work to classify the esPmates as current mineral resources

and the Company is not treaPng them as current.

Bruvann is located 2 km away from a shipping dock with an exisPng conveyor

connecPng dock faciliPes from the mine site. Mine roads and power faciliPes

as well as some of the mine buildings have been maintained and the main

North-South highway in the region crosses the property.

For more informaPon on the Rana Project please refer to GEMC’s website

linked here.

Qualiﬁed Person

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

NaPonal 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 baKery and electric vehicle market by building a diversi ﬁed

global porXolio of explora,on and growth-stage baKery 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 baKery 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 Xolio of

strategically signiﬁcant investments in baKery 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 InformaWon:

Global Energy Metals CorporaPon

#1501-128 West Pender Street

Vancouver, BC, V6B 1R8

Email: [email protected]

t. + 1 (604) 688-4219

www.globalenergymetals.com

TwiGer: @EnergyMetals | @USBaXeryMetals | @ElementMinerals

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CauWonary Statement on Forward-Looking InformaWon:

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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