LTNG.V · 2023-09-13 12:00:00

BeMetals Identifies Several Higher-Grade Copper Target Zones from Results of 2023 Shallow Aircore Program at the D-Prospect, Pangeni Project, Zambia

Exploration Programs

TSXV – BMET

September 13, 2023 OTCQB – BMTLF

FRANKFURT – 1OI.F

BeMetals Identifies Several Higher-Grade Copper Target Zones from Results of 2023

Shallow Aircore Program at the D-Prospect, Pangeni Project, Zambia

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

“BeMetals”) is pleased to announce significant results from its 2023 aircore campaign at the D-Prospect within the

Pangeni Copper Project (“Pangeni” or the “Project” or the “Property”). Three newly identified higher-grade target

zones have been outlined by six shallow aircore holes returning samples of more than 2,000 parts per million

(“ppm”) (0.2% Copper (“Cu”)) with these target zones defined by samples ranging from 5,870 ppm Cu (0.58% Cu)

to 1,987 ppm Cu (0.20% Cu).

The Pangeni Project mineralization represents westerly extensions to the prolific Zambian Copperbelt. Aircore

drilling of other prospects and targets at Pangeni is ongoing as part of t he Company’s current US$2 million

exploration program which is pro rata funded by BeMetals (72.2%) and the Japan Organization for Metals and

Energy Security (“JOGMEC”) (27.8%).

HIGHLIGHTS OF 2023 D-PROSPECT AIRCORE RESULTS:

• TARGET ZONE 1: Identified by four aircore holes with copper values of : D14-03: 5,870 ppm Cu, D15-02: 5,079

ppm Cu, D16-03B: 2,942 ppm Cu, and D7-04: 4,363* ppm Cu. The footprint of this zone at the bas e of the

Kalahari cover is some 400 metres in length and 100-125 metres in width and remains open to the North and

South.

• TARGET ZONE 2: Identified by two aircore holes with copper values of: D17-04: 4,657 ppm Cu, and D18-03: 1,987

ppm Cu. The footprint of this zone at the base of the Kalahari cover is some 250 metres in length and 100

metres in width and remains open to the North and potentially at depth to the South.

• TARGET ZONE 3: Identified by two aircore holes with copper values of: D18-01: 3,352 ppm Cu, and D17-02: 2,769

ppm Cu. The footprint of this zone at the base of the Kalahari cover is some 2 00 metres in length and 100

metres in width and remains open to the South.

Note: Reported values are single 1 metre samples representing observed bedrock or weathered bedrock below the Kalahari sand cover, with

maximum copper values for each aircore hole , determined by pXRF. (See details in QA/QC section below). *Previously reported from 2021

aircore program.

John Wilton, President and CEO of BeMetals stated , “We are very please d with these results from the shallow

aircore drilling program completed, last month, at the D-Prospect within our Pangeni Copper Project. The results

include some of the highest -grade copper aircore sample values returned to date at the Pangeni P roject, and as

such generate exciting priority targets for core drill testing.

This year’s aircore drilling at the D-Prospect was designed to specifically identify, structurally controlled, potentially

higher-grade copper zones within the mineralization, as observed at certain, large scale, copper mines in this region

of the Zambian Copperbelt . The aircore program has been successful by indicating three such interpreted target

zones where higher -grade copper is predicted. Core drill testing of these target zones is planned to commence

during September, 2023.

Copper exploration projects with the discovery potential of Pangeni are rare, situated at the western extension to

the Zambian Copperbelt that hosts several world-class copper mines, in an area where little historical exploration

has been undertaken due to the thin but extensive Kalahari sand cover. The ongoing aircore drilling program is

testing additional prospects and targets on the Property. Follow-up core drilling of new and confirmed targets is

planned for the remainder of the year.”

PANGENI COPPER PROJECT - 2023 D-PROSPECT AIRCORE RESULTS

The 2023 aircore program at the D-Prospect was designed to identify targets for potential higher -grade zones of

copper within the mineralization discovered by the Company under the thin Kalahari sand cover. This objective has

been successfully achieved with three exciting target zones defined by the shallow drilling.

Figure 1 illustrates the location of the three interpreted higher-grade target zones identified at the D-Prospect. The

2023 aircore results have been integrated into the previously reported 2018-2022 phases of shallow drilling. Simple

contouring of the bedrock and weathered bedrock copper values beneath the Kalahari sand cover unit outlines the

target zones.

As designed it appears that with the new sampling results from the 2023 aircore program it is now possible to map

target areas where interpreted structural features and relatively reactive host rocks have focused the copper

mineralization. S imilar higher tenor copper zones controlled by such geological situations are known to exist

elsewhere in the Domes Region deposits and mines of the Zambian Copperbelt such as the large scale Lumwana

copper mine.

The orientation of these target zones is also generally supported by the interpretation of detailed structural core

logging of the drill holes completed to date at this prospect. The target zones are expected to plunge relatively

shallowly to the South and South South-West. This likely explains why the aircore holes in the southern area of the

prospect do not return elevated copper values , as the target zones are likely below the depth sampled by the

shallow aircore in that direction.

The higher-grade target zones are interpreted to range from some 400 to 200 metres in length and 125 to 100

metres in width and are defined by bedrock and weathered bedrock copper values ranging between 5,870 ppm Cu

(D14-03) and 1,978 ppm Cu (D18-03). On average in the area of the D-Prospect copper mineralization, core drilled

to date, it is covered by 26 metres of Kalahari sand ranging between 18-33 metres in certain areas.

Figure 1: Plan Map of D-Prospect showing 2023 aircore copper results (Blue symbols) contoured with 2018-2021

results (Red symbols), previous core drill holes, and interpreted higher grade target zones (Zones 1-3).

Note: The reported aircore copper values are single 1 metre samples representing observed bedrock or weathered bedrock below the Kalahari sand cover,

with maximum copper values for each aircore hole. The results of the previously reported 2018-2021 aircore drilling at the D-Prospect were analyzed by

Intertek Genalysis, an independent and accredited laboratory and determined by ICP-OES. The 2023 results were determined using pXRF. (See details in

QA/QC section below).

Table 1 lists all the aircore results from the 2023 program at the D -Prospect with sample depths and thickness of

Kalahari sand cover unit. Table 2 provides details of; hole ID, azimuth, dip, end of hole depth and collar coordinates.

Figure 2 shows the previously reported copper intersections from core drilling at the D-Prospect to date. It indicates

that th e previous core drilling did not intersect the newly identified high-grade target zones . Core drilling to

commence during September, 2023 will directly target these zones.

As previously reported, to date, copper mineralization at the D -Prospect is interpreted to extend for at least 1.2

kilometres along the strike of the host units (see Figure 2). These previously reported core holes (D2-C1, D2-C2, D7-

C1, D7-C2 and D3-C1) returned meaningful and multiple copper intersections ranging from 6.0 to 2.12 metres in

width and 0.58% Cu to 0.32% Cu in grade (0.3% Cu cut -off grade). Significant copper mineralization has been

intersected in five core drill holes completed at the D-Prospect. The copper grades in these drill holes are similar to

those for operating large -scale copper mines in the Domes Region of the Zambian Copperbelt (Examples: First

Quantum Minerals’ Sentinel Mine Reserves: 876.8 million tonnes grading 0.46% Cu(1) and Barrick Gold’s Lumwana

Mine Reserves: 538.8 million tonnes grading 0.56% Cu(2)). (See Figure 3 for other regional project locations and the

Company’s news release dated ; November 1 5, 2022: BeMetals Defines Priority Copper Targets and Commences

Core Drilling at Pangeni Copper Project).

(1) First Quantum Minerals Ltd. website, Mineral Reserves - depleted for mining as at 31st December 2019, and based on a

$3.00/lb Cu price. Sentinel Mine, Trident Project, North West Province, Zambia, NI 43-101 Technical Report, March 2020.

(2) Barrick Gold Corporation website, Mineral Reserves – December 31, 2013, Technical Report on the Lumwana Mine, North ‐

Western, Province, Republic of Zambia, Barrick Gold Corporation, Report for NI 43 -101, March 27, 2014.

Figure 2: Plan Map of D-Prospect showing interpreted higher grade target zones and previously reported core

drilling intersections (D2-C1, D2-C2, D7-C1, D7-C2 and D3-C1)

Note: The reported aircore copper values are single 1 metre samples representing observed bedrock or weathered bedrock below the Kalahari sand cover,

with maximum copper values for each aircore hole. The results of the previously reported 2018-2021 aircore at the D-Prospect and all core drilling results

were analyzed by Intertek Genalysis, an independent and accredited laboratory and determined by ICP-OES. The 2023 results were determined using pXRF.

(See details in QA/QC section below).

Table 1: D-Prospect 2023 Aircore Program Results (Bedrock or Weathered Bedrock Copper Values)

Aircore Hole ID From

(m)

Core

Interval

(m)

Copper in

Bedrock

Maximum

per hole

(ppm)

Kalahari

Sand

Cover

Thickness

(m)

D5-09 44 45 1 30 43

D11-01 17 18 1 75 16

D11-02 30 31 1 44 30

D11-03 32 33 1 1463 29

D12-01 27 28 1 131 27

D12-02 28 29 1 94 28

D13-01 24 25 1 639 20

D13-02 27 28 1 96 26

D14-01 20 21 1 60 18

D14-02 44 45 1 424 34

D14-03 28 29 1 5870 17

D14-04 22 23 1 1490 20

D14-05 35 36 1 165 30

D15-01 26 27 1 1805 22

D15-02 28 29 1 5079 26

D15-02B 34 35 1 994 29

D16-01 30 31 1 110 29

D16-02 23 24 1 1380 23

D16-03 30 31 1 911 23

D16-03B 38 39 1 2942 28

D17-01 32 33 1 348 30

D17-02 35 36 1 2769 33

D17-03 31 32 1 84 30

D17-04 29 30 1 4657 24

D17-05 31 32 1 483 29

D18-01 46 47 1 3352 31

D18-02 23 24 1 78 22

D18-03 26 27 1 1987 23

D19-01 33 34 1 229 29

D19-02 25 26 1 55 24

D20-01 35 36 1 582 30

D20-02 39 40 1 67 29

D21-01 54 55 1 36 53

D21-02 53 54 1 15 52

D21-03 53 54 1 9 52

Table 1 Notes: Reported values are single 1 metre samples representing observed bedrock or weathered bedrock below the Kalahari sand cover, with maximum

copper values for each aircore hole, determined by pXRF. (See details in QA/QC section below).

Table 2: Aircore Hole ID, Azimuth, Dip, End of Hole Depth and Collar Coordinates

Aircore

Drill Hole

Azimuth

Degree

Dip

Degree

End of hole Depth

(m)

Easting (m)

(UTM X)

Northing

(m)

(UTM Y)

Elevation

(m)

D5-09 Vertical -90 48 177044 8600720 1338

D11-01 Vertical -90 24 177311 8601010 1312

D11-02 Vertical -90 39 177140 8601114 1305

D11-03 Vertical -90 33 176973 8601211 1314

D12-01 Vertical -90 39 177226 8601193 1305

D12-02 Vertical -90 33 177144 8601238 1319

D13-01 Vertical -90 27 177400 8601323 1310

D13-02 Vertical -90 36 177324 8601371 1321

D14-01 Vertical -90 34 177642 8601277 1301

D14-02 Vertical -90 45 177566 8601324 1309

D14-03 Vertical -90 32 177471 8601383 1321

D14-04 Vertical -90 25 177387 8601431 1305

D14-05 Vertical -90 38 177302 8601486 1327

D15-01 Vertical -90 32 177562 8601436 1311

D15-02 Vertical -90 29 177475 8601493 1320

D15-02B Vertical -90 36 177394 8601543 1319

D16-01 Vertical -90 36 177800 8601486 1333

D16-02 Vertical -90 27 177709 8601556 1310

D16-03 Vertical -90 33 177632 8601607 1356

D16-03B Vertical -90 39 177542 8601661 1283

THE PANGENI COPPER PROJECT OVERVIEW

The Pangeni Project is located on the western extension of the Zambian Copperbelt, within the Lufilian Arc,

underlain by Katangan Supergroup metased iments situated unconformably on basement schists and gneisses,

which are covered by a thin veneer of Kalahari sands. The open pit Sentinel Copper Mine is operated by First

Quantum Minerals Ltd. , some 130 kilometres to the northeast of the Pangeni Project. A number of major

international mining companies have identified this region of the Zambian Copperbelt to be prospective for the

discovery of tier one copper mines and are conducting extensive exploration work in this region. See Figure 3 for

the Project location map.

The Pangeni Project property is geologically prospective for the following deposit types; Basement -hosted Cu

(analogues: the Lumwana Deposit), Sediment-hosted stratiform Cu-Co (analogues: Nchanga, Konkola, Nkana, and

Mufulira Deposits), other Domes Region Deposits e.g. Sentinel, and Kansanshi, and DRC Copperbelt Deposits e.g.

Lonshi, Frontier, Kamoa-Kakula).

Figure 3. Location of Pangeni Copper Project

D17-01 Vertical -90 38 177966 8601494 1307

D17-02 Vertical -90 53 177882 8601548 1360

D17-03 Vertical -90 37 177803 8601596 1319

D17-04 Vertical -90 35 177707 8601652 1363

D17-05 Vertical -90 32 177629 8601701 1312

D18-01 Vertical -90 50 177947 8601610 1317

D18-02 Vertical -90 29 177858 8601666 1315

D18-03 Vertical -90 33 177777 8601719 1315

D19-01 Vertical -90 35 178095 8601714 1320

D19-02 Vertical -90 30 178002 8601772 1322

D20-01 Vertical -90 36 178170 8601787 1303

D20-02 Vertical -90 40 178082 8601834 1325

D21-01 Vertical -90 55 176624 8600653 1330

D21-02 Vertical -90 55 176450 8600752 1337

D21-03 Vertical -90 57 176281 8600855 1348

QUALITY ASSURANCE AND QUALITY CONTROL

The results previously reported here for the 2018-2021 aircore at the D -Prospect and all the core drilling results

were analyzed by Intertek Genalysis, an independent and accredited laboratory. Samples were prepared at their

facility in Kitwe, Zambia and analytical work conducted in Australia. The results were determined using multi-acid,

near total digest, and analyzed by Inductively Coupled Plasma (“ICP”) Optical (Atomic) Emission Spectrometry

(“OES”). The core and aircore sampling was conducted with a robust sampling protocol that included the

appropriate insertion of standard reference material, duplicates, and blanks into the sample stream.

The results from the 2023 aircore (pXRF) program were completed by Remote Exploration Services (“RES”) who

managed all aspects of the field operations in -line with the standard operating procedures as previously and

consistently implemented at this project. Representative material from each sampled metre of aircore drilling was

dried, screened to 180 micron, bagged and transported to a field camp where they were analysed using the

Olympus Vanta M Series Desktop XRF analyser (“pXRF”). Strict sampling protocol was observed throughout the

pXRF analysis including; homogenisation, field duplicates, blanks, and calibration checks using Certified Reference

Material. For a more detailed description of the aircore pXRF sampling protocol see BeMetals news release dated;

November 15, 2018, QA/QC section, available on the Company’s website and on SEDAR.

Field operations and management have been provided by RES an independent geological consulting and contracting

company. The aircore and core drilling was conducted by Blurock Mining Services, of Kitwe, Zambia.

ABOUT BEMETALS CORP.

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

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 no t 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 similar 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 unkno wn risks,

uncertainties and other 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 obtain and maintain any required licenses, permits and rights for its projects,

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 statements 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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