LTNG.V · 2023-04-18 12:00:00

BeMetals Generates Priority Drill Targets at the Tashiro Gold Project, Kyushu, Japan

Exploration Programs

TSXV – BMET

April 18, 2023 OTCQB – BMTLF

FRANKFURT – 1OI.F

Vancouver, British Columbia – BeMetals Corp. (TSXV: BMET, OTCQB: BMTLF, Frankfurt: 1OI.F) (the “Company” or

“BeMetals”) is pleased to announce it has integrated recently received drone magnetic survey information with

historical drill results that has generated several compelling drill targets at the Tashiro Gold Project (“Tashiro” or

the “Project”) in Kyushu. These new drill targets focus on testing and potentially extending at least two significant

zones of vein-hosted gold mineralization at the Noya and Noya Southwest (“Noya SW”) prospects on the Tashiro

property.

HIGHLIGHTS OF TASHIRO PROJECT DRILL TARGETS:

Noya Prospect

• Recently completed high -resolution drone magnetic survey both maps and extends target zone at Noya

prospect

• Historical results reported from drilling in 1990s indicate a high-grade epithermal gold vein zone

• Gold mineralization target has a strike extent of over 1.5 kilometres, and includes the following selected

historical drill intersections:

o 4MAKC-1: 63.90 grams per tonne (“g/t”) gold (“Au”) & 16.70 g/t silver (“Ag”) over 0.47m

o 4MAKC-4: 28.60 g/t Au & 12.90 g/t Ag over 1.08m

o 7MAKN-4: 41.60 g/t Au & 28.40 g/t Ag over 0.30m

Noya SW Prospect

o 9MAKN-7: 1.67 g/t Au & 1.70 g/t Ag over 27.10m, Including: 3.38 g/t Au over 8.95m

o 9MAKN-8: 13.80 g/t Au & 16.70 g/t Ag over 1.30m

Note: Table 1 below provides details of these intersections, and Table 2 the other historical drill intersections within the Tashiro Project

John Wilton, President and CEO of BeMetals stated, “ We are delighted with the in terpretation of our recently

completed airborne drone magnetic survey when combined with the historical drilling data at our Tashiro Project.

The Tashiro property is located within the Northern Kyushu epithermal gold province. Importantly, certain features

of this new magnetic data are consistent with the orientation of the main Noya prospect gold vein trend .

Additionally, signatures in this data indicate the potential extension of this gold vein target zone to some 1.5

kilometres along strike.

Furthermore, on a recent field reconnaissance to the Tashiro Project area, Dr. Richard Sillitoe, world renowned

economic geologist, and technical advisor to the C ompany, noted “Further drill testing of the Noya and Noya S W

veins is clearly merited. The historical high-g rade vein intersections are at vertical depths of approximately 175 to

200 metres below surface, thereby defining a clear initial depth target for the planned drilling.”

“The Company intends to schedule drill testing of the Tashiro Project later in the year after it has completed the

current and planned phases of drilling at its Kato and Todoroki projects in Hokkaido, Japan.”

TASHIRO GOLD PROJECT

The Tashiro Project is located in Oita Prefecture of central northeastern Kyushu (Figure 1). The Project is situated

within the regional scale Hohi Graben, a major geological structure in this district that is associated with numerous

historical gold mines and prospects known collectively as the Northern Kyushu epithermal gold province.

Figure 1: Location Map of Tashiro Gold Project, Kyushu, Japan

The high-grade quartz-gold veins of the Noya and Noya SW prospects within the Tashiro Project do not crop out.

This area was initially explored for its geothermal energy potential with a single drill hole completed in 1952 , and

subsequently three more holes were completed in 1977. The existence of epithermal quartz-gold veins in this drill

core, with associated intense alteration, was first recognised by Morishita & Takeno and reported in 1989 1.

Motivated by these reported ob servations and the detection of go ld in assays for some of the drilled veins, the

Metal Mining Agency of Japan (“MMAJ”), a Japanese state agency, conducted exploration at the Noya and Noya

SW prospects (the “Prospects”) between 1989 and 1994.

The drilling completed by MMAJ confirmed the development of an extensive epithermal gold system at the

Prospects, with many of the hallmarks of such mineralization, such as typical quartz textures and associated trace

elements.

Figure 2 below illustrates the location of MMAJ’s drill holes and the interpreted approximate e ast-west strike of

the Noya vein zone . This main Noya vein zone trend appears to be mapped by a coincident east-west oriented,

magnetic low signature, interpreted to be related to an important controlling structural trend. The Company is

intending to complete three to four drillholes to test the Noya and Noya SW prospects.

Figure 2. Drone Magnetic Data with Selected Historical Drill Intersections, Tashiro Gold Project, Kyushu, Japan

Table 1 below includes the details of the se lected MMAJ drill intersections, associated with the main Noya vein

zone, and the Noya SW prospects, with drilled widths and gold and silver grades. This series of relatively shallow

depth below surface (approximately 175-200m), generally high-grade, gold intersections demonstrate the potential

of th is epithermal system to generate significant gold grades. This is an encouraging characteristic of th ese

Prospects, motivating the future exploration drilling of the project.

Table 2 provides the gold and silver intersection results of all the remaining historical drill intersections at these

two Prospects within the Tashiro P roject area. These addition results demonstrate that even outside the initial

targets of the main Noya vein zone and Noya SW prospects there is an extensive footprint to the gold mineralization.

Table 3 details of all the historical drill hole locations with; azimuth, dip, end of hole d epth and collar coordinate

information.

Table 1: Historical Selected Drill Hole Intersection Results

Drill hole and

Interval

From

(m)

Core Interval

(m)

g/t

Noya

4MAKC-1 306.90 307.37 0.47 63.90 16.70

4MAKC-4 353.98 355.06 1.08 28.60 12.90

4MAKC-9 335.55 336.15 0.60 14.17 6.39

339.55 339.85 0.30 16.06 12.30

51WT-1 164.20 165.10 0.90 7.00 NA

201.00 201.50 0.50 20.00 NA

6MAKN-1 234.65 234.90 0.25 25.80 25.90

7MAKN-4 205.80 206.10 0.30 41.60 28.40

Noya SW

9MAKN-7 90.50 95.05 4.05* 1.48 3.47

121.30 148.40 27.10* 1.67 1.70

Including: 121.30 127.10 5.80 1.27 1.48

Including: 139.45 148.40 8.95 3.38 3.00

9MAKN-8 84.50 97.20 12.70* 1.13 3.27

119.60 120.90 1.30 13.80 16.70

184.40 188.90 4.50* 1.28 2.69

Table 1 Notes: These drill results are historical in nature. BeMetals has not undertaken any independent investigation of the sampling, nor has it independently

analyzed the results of the historical exploration work in order to verify the results. BeMetals considers these historical drill results relevant as the Company will

use this data as a guide to plan future exploration programs. The Company also considers the data to be reliable for these purposes however , the Company's

future exploration work will include verification of the data through drilling. The reported results are drilled intersection widths as the orientation of the

mineralized zones and their true thickness is currently not known. Intersections relate to individual samples, except for Noya SW prospect where composites*

where calculated using a nominal cut -off grade of 0.5 g/t Au , with a maximum of 2.55 metres of internal dilution, to determine the boundaries of the

intersections.

Table 2: Other Historical Drill Hole Intersection Results

Table 2 Notes: These drill results are historical in nature. BeMetals has not undertaken any independent investigation of the sampling, nor has it independently

analyzed the results of the historical exploration work in order to verify the results. BeMetals considers these historical drill results relevant as the Company will

use this data as a guide to plan future exploration programs. The Company also considers the data to be reliable for these purposes however , the Company's

future exploration work will include verification of the data through drilling. The reported results are drilled intersection widths as the orientation of the

mineralized zones and their true thickness is currently not known. Intersections relate to individual samples.

Drill hole and

Interval

From

(m)

Core

Interval

(m)

g/t Ag

g/t

2MAKC-7 242.00 242.40 0.40 5.75 2.30

4MAKC-6 320.40 320.80 0.40 4.86 11.30

4MAKC-10 186.95 188.35 1.40 5.04 5.84

4MAKC-10 190.30 190.55 0.25 4.38 4.32

5MAKC-1 396.20 396.83 0.63 3.92 1.85

5MAKC-2 242.20 242.67 0.47 3.43 4.36

6MAKN-1 175.95 176.30 0.35 5.99 2.87

6MAKN-1 180.70 180.98 0.28 8.52 9.67

8MAKN-5 407.45 407.90 0.45 3.59 0.82

8MAKN-6 157.55 157.85 0.30 6.32 4.28

Drill holes: 53GO-1,3,4, 53NOY-2 & 27GS were geothermal holes not sampled for gold

Drill holes: 4MAKC-2,3,5,7,8, 5MAKC-5, 6MAKN-2, 7MAKN-3, 51WT-2, 2MAKC-3,6, & 5MAKC-3,4

were reported as not returning any significant sampled gold mineralization

Table 3: Historical Drill Hole ID, Azimuth, Dip, End of Hole Depth and Collar Coordinates

Drill Hole ID Azimuth

Degree Dip Degree End of hole Depth (m) Easting (m) Northing

(m)

Elevation

(m)

53GO-1 0 -90 700 712068 3680695 620

55GO-3 0 -90 1085 711253 3681255 670

55GO-4 0 -90 510 711046 3681393 665

53NOY-2 0 -90 762 712156 3681128 650

2MAKC-7 0 -90 600 710706 3680674 650

4MAKC-1 360 -35 500 711666 3680474 670

4MAKC-2 360 -40 500 711435 3680805 640

4MAKC-3 180 -55 500 711294 3680623 660

4MAKC-4 180 -35 500 712016 3680952 660

4MAKC-5 180 -40 500 711915 3681144 685

4MAKC-6 180 -30 500 711599 3681358 675

4MAKC-7 0 -90 500 711566 3680787 675

4MAKC-8 187 -38 500 711895 3680884 620

4MAKC-9 165 -40 500 711565 3680690 670

4MAKC-10 20 -45 500 710687 3680682 620

5MAKC-1 150 -30 601 712228 3680906 620

5MAKC-2 360 -40 550 712228 3680906 590

5MAKC-5 340 -35 600 711919 3679839 655

6MAKN-2 345 -45 451 710891 3680667 600

7MAKN-3 211 -40 504 711570 3681024 630

8MAKN-5 50 -40 468 711139 3680990 670

8MAKN-6 345 -30 450 712098 3680795 615

27GS 0 -90 132 710770 3680008 550

51WT-1 360 -90 700 711429 3680685 660

51WT-2 0 -90 700 710474 3679851 585

2MAKC-3 169 -40 500 708655 3679210 540

2MAKC-6 0 -90 500 702895 3675026 510

5MAKC-3 300 -20 600 710258 3679618 590

5MAKC-4 20 -45 501 710258 3679618 600

6MAKN-1 020 -45 400 710891 3680666 650

7MAKN-4 180 -45 450 712228 3680906 600

9MAKN-7 020 -40 275 710544 3679730 580

9MAKN-8 075 -40 325 710544 3679730 580

The Company is current ly exploring its highly prospective portfolio of five gold exploration projects in Japan. As

exploration work and surveys over the entire BeMetals ’ portfolio of project s is advanced , the high quality and

discovery potential of all of these projects becomes increasingly evident. The location of the projects is illustrated

in Figure 3 below.

Figure 3. Location of BeMetals Kazan Gold Projects in Japan

QUALITY ASSURANCE AND QUALITY CONTROL

These drill results are historical in nature. BeMetals has not undertaken any independent investigation of the

sampling, nor has it independently analyzed the results of the historical exploration work in order to verify the

results. BeMetals considers these historical drill results relevant as the Company will use this data as a guide to plan

future exploration programs. The Company also considers the data to be reliable for these purposes , however the

Company's future exploration work at the Tashiro Project will include verification of the historical data through

drilling.

REFERENCE

(1) Morishita, Y. and Takeno, N. (1989) Gold mineralization in the Noya geothermal area, Ohita prefecture.

Mining Geol., 39, 68.

ABOUT BEMETALS CORP.

BeMetals is a precious and base metals exploration and development company focused on becoming a leading

metal producer through the acquisition of quality exploration, development and potentially production stage

projects. The Company has established itself in the gold sector with the acquisition of a portfolio of wholly owned

exploration projects in Japan. BeMetals is also progressing its tier-one targeted, Pangeni Copper Exploration Project

in the prolific Zambian Copperbelt with co -funding investor the Japanese state agency JOGMEC (“Japan

Organization for Metals and Energy Security ”). Guiding and leading BeMetals’ growth strategy is a strong board

and management team, founders and significant shareholders of the Company, who have an extensive proven

record of delivering exceptional value in the mining sector, over many decades, through the discovery, construction

and operation of mines around the world.

QUALIFIED PERSON STATEMENT

The technical information in this news release for BeMetals has been reviewed and approved by John Wilton, CGeol

FGS, CEO and President of BeMetals, and a “Qualified Person” as defined under National Instrument 43-101.

ON BEHALF OF BEMETALS CORP.

“John Wilton”

John Wilton

President, CEO and Director

For further information about BeMetals please visit our website at bemetalscorp.com and sign-up to our email list

to receive timely updates, or contact:

Derek Iwanaka

Vice President, Investor Relations & Corporate Development

Telephone: 604-928-2797

Email: [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the

TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward- looking statements" and “forward looking information” (as defined under applicable securities

laws), based on management’s best estimates, assumptions and current expectations. Such statements include but are not limited to,

statements with respect to future exploration, development and advancement of the Kazan Projects in Japan and the Pangeni Project

in Zambia, and the acquisition of additional base and/or precious metal projects. Generally, these forward- looking statements can

be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts", "anticipates", "plans",

"anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and s imilar

expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. These statements should not be

read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and othe r

factors that may cause actual results, performance or achievements to be materially different from those expressed or implied by such

statements, including but not limited to: the actual results of exploration activities, the availability of financing and/or cash flow to

fund the current and future plans and expenditures, the ability of the Company to satisfy the conditions of the option agreement for

the Pangeni Project, and changes in the world commodity markets or equity markets. Although the Company has attempted to identify

important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may

be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such stat ements

will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The

forward-looking statements and forward looking information are made as of the date hereof and are qualified in their entirety by this

cautionary statement. The Company disclaims any obligation to revise or update any such factors or to publicly announce the result

of any revisions to any forward- looking statements or forward looking information contained herein to reflect future results, events

or developments, except as require by law. Accordingly, readers should not place undue reliance on forward- looking statements and

information. Please refer to the Company’s most recent filings under its profile at www.sedar.com for further information respecting

the risks affecting the Company and its business.

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