Green Bridge Metals Clarifies Certain Technical Disclosure
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Vancouver, British Columbia, V6E 3T5
www.greenbridgemetals.com
NEWS RELEASE
Green Bridge Metals Clarifies Certain Technical Disclosure
Vancouver, Canada – August 2, 2024 – Green Bridge Metals Corporation (CNSX: GRBM, OTCQB:
GBMCF, FWB: J48, WKN: A3EW4S ) ("Green Bridge" or the " Company") wishes to clarify certain
technical disclosure, as detailed below, following a technical disclosure review by the Mining Group in
the Corporate Finance Division of the British Columbia Securities Commission (the “BCSC”).
The Company has not completed adequate work to develop a resource estimate in compliance with
National Instrument 43-101 (“NI 43-101”) at the SCZ project. In addition, the Company wishes to clarify
that its Chrome Puddy project is in the exploration stage , and that, contrary to National Instrument 43-
101 – Standards of Disclosure for Mineral Projects (“NI 43 -101”), the mineral resource estimate
previously disclosed by the Company in respect of the project is not supported by a NI 43-101 compliant
technical report and should not be relied upon unless and until it is supported by a NI 43-101 compliant
technical report.
Furthermore, the Company clarifies the following disclosures in its investor presentation, news releases
and website:
a. disclosures relating to historical estimates in respect of its Chrome Puddy project do not contain
the supporting disclosures required by section 2.4 of NI 43 -101; accordingly, the Company
restates this information as follows:
“A historical mineral resource based on limited drilling south of Puddy Lake was
presented in 1966 by Commerce Nickel Mines Ltd. (CNML). CNML reported a
nickeliferous magnetite mineral resource estimate of 30 million tons grading 0.27%
Ni, 0.017% C o and 7.2% recoverable Fe to a depth of 400 ft (122 m) (Annual Report
1966). This historical mineral resource estimate was calculated prior to the
implementation of the standards for disclosure set forth in NI 43- 101 and current
CIM standards for mineral resource estimation. The historical drill and assay results
were reported in a manner that was consistent with the exploration practices at that
time. Diamond drill holes by CNML , that are the basis of the historical mineral
resource, are presented on maps that can be reasonably accurately located on the
basis of lakeshore and topo graphic features and the logs for such diamond drill
holes are available in public files, as are the 1965 assay certificates by Technical
Laboratory Services, which was a reputable assay lab. A longitudinal section
evaluation of relatively widely spaced drill intersections shows continuity of
mineralization and that the reported tonnage and grade estimates are reasonable.
However there have been no independent validations of the historical assay drill
core results and the assumptions, parameters a nd methods used to prepare the
historical estimate are not all known. Resource definitions, terminology, and
reporting standards have changed significantly since these series of reports. The
estimate is considered historical in nature and a QP has not done sufficient work to
independently validate the assay drill core results and evaluate these resources as
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Vancouver, British Columbia, V6E 3T5
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current resources. Therefore, the Company is treating the estimate as historical in
nature.
b. disclosures regarding certain exploration information were not supported by data verifications
required by sections 3.2 and 3.3 of NI 43-101; accordingly, the Company restates this information
to include the following:
“All sample results are considered historic al and are from samples that were not
collected by the Company. The QP has not done sufficient work to validate the
assay drill core results, nor to verify sample collection methods, analyses, or QA/QC
information for these samples.”
c. concerning disclosures relating to the Crawford deposit nearby to the Chrome Puddy project, the
Company notes that such disclosures relate solely to the Crawford deposit, in which the
Company does not hold an interest, and that there can be no assurance that the Company will
obtain similar information or results from the Chrome Puddy project nor is the Company implying
that it will obtain similar results on the Chrome Puddy project;
i. concerning drilling target information, the Company notes that such information did
not contain the supporting disclosures required by Section 2.3(2) of NI 43 -101,
accordingly, the Company re-states this information as follows:
“Based on historically reported mineralized drill holes over a 1.9 km strike length
the Company has an exploration target estimated at 25 to 50 Mt at a grade of 0.25%
to 0.30% Ni which it will endeavour to validate and refine by upcoming surface
exploration and airborne geophysical surveys. However, the Company notes that
the potential quantity and grade of the exploration target is conceptual in nature,
and that there has been insufficient exploration to define a mineral resource and
that it is uncertain if further exploration will result in the target being delineated as a
mineral resource.”;
ii. concerning the “Sample Results” disclosed, the Company provides verifications
pursuant to Sections 3.2 and 3.3 of NI-43-101 as follows:
“All sample results are considered historical and were not collected by the Company.
The QP has not done sufficient work to independently validate the assay drill core
results, nor to verify the sample data.”
iii. With respect to t he Company’s disclosures contained in its presentations, website
and news releases relating to adjacent and regional projects, the Company clarifies
that such disclosures relate solely to adjacent and regional projects in which the
Company does not hold an interest, and that there can be no assurance that the
Company will obtain similar information or results from its own projects regardless of
proximity, nor is the Company implying that it will obtain similar results on its own
projects.
The Company has removed the above-mentioned investor presentations and technical disclosures from
its website, and notes that investors should not rely upon the information which the Company is retracting
by way of this news release.
Suite 800, 1199 West Hastings Street
Vancouver, British Columbia, V6E 3T5
www.greenbridgemetals.com
In addition, the Company notes disclosures contained in the Chrome Puddy Report are not compliant
with NI 43 -101 and should not be relied upon unless and until such disclosures are supported in
compliance with NI 43- 101 by an updated report. The Company intends to file a new technical report
relating to its Chrome Puddy project by August 8, 2024.
Michael Dufresne, M.Sc., P. Geol, P. Geo, is an independent qualified person as defined under NI 43-
101 who supervised the preparation of and approves the scientific and technical content of this news
release.
About Green Bridge Metals
Green Bridge Metals Corporation (formerly Mich Resources Ltd.) is a Canadian based exploration
company focused on acquiring ‘battery metal’ rich mineral assets and the development of the South
Contact Zone (the “Property”) along the basal contact of the Duluth Intrusion, north of Duluth, Minnesota.
ON BEHALF OF GREEN BRIDGE METALS
“David Suda”
President and Chief Executive Officer
For more information, please contact:
David Suda
President and Chief Executive Officer
Tel: 604.928-3101
Forward Looking Information
Certain statements and information herein, including all statements that are not historical facts, may
contain forward-looking statements and forward -looking information within the meaning of applicable
securities laws. Such forward-statements include, but are not limited to, statements with respect to future
exploration work on the properties of the Company and upcoming surface exploration and airborne
geophysical surveys and potential results therefrom. Although management of the Company believe
that the assumptions made and the expectations represented by such statements or information are
reasonable, there can be no assurance that forward-looking statements or information herein will prove
to be accurate. Forward-looking statements and information by their nature are based on assumptions
and involve known and unknown risks, uncertainties and other factors which may cause actual results,
performance or achievements, or industry results, to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking statements or information.
The Company does not undertake to update any forward-looking information, except in accordance with
applicable securities laws.
Neither the Canadian Securities Exchange (the “ CSE”) nor its Regulation Services Provider (as that
term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this
release.