Megawatt appoints Elmore Limited to Lead Fieldwork at Prime Australian Rare Earth & Uranium Projects
Megawatt appoints Elmore Limited to Lead Fieldwork at Prime Australian Rare
Earth & Uranium Projects
Vancouver, British Columbia (June 24, 2021) - Megawatt Lithium and Battery Metals Corp. (CSE:MEGA)
(FSE: WR20) (OTC PINK: WALRF) (the "Company" or "Megawatt") is pleased to announce that geological
consultancy, Elmore Limited of Perth Australia has been appointed to take the lead in developing the
Artic Fox and Isbjorn properties in Northern Territory, Australia.
Legacy desktop work has verified the two properties are prospective for rare earth elements, especially
neodymium and praseodymium, and uranium oxide mineralisation. Arctic Fox is contiguous and along
strike from the world-class Nolans Bore REE project, which is set for commissioning in mid-2022 and has
a JORC Compliant Mineral Resource. Additionally, Isbjorn is contiguous to the advanced Charley Creek
REE project.
Internal review of recent reports by Adamas Intelligence on rare earth elements (REEs) and Canaccord
Genuity on uranium have indicated favorable forward demand-supply dynamics, resulting in potential
upward price pressure over the balance of the decade. Much of the anticipated incremental demand for
REEs and uranium arises from green stimulus, decarbonization polices and increasing uptake of electric
vehicles.
Geological consultancy appointed
Megawatt has appointed ASX-listed Elmore Limited (ASX: ELE), an experienced geological consultancy
and mining contract processor to manage the inaugural exploration campaign across the Artic Fox and
Isbjorn properties.
Elmore expects the campaign to take 8-10 days in total and use a team of four made up of geologists
and technicians. The team will undertake geological mapping and comprehensive sampling across
prospective areas within both properties. Further, the team would use helicopter and follow up ground
support to ensure the campaigns are completed most efficiently.
Review of assay results once fully analysed, may lead to formulation of targets for test-drilling and
further follow up development work.
David Thornley-Hall Chief Executive Officer commented: “We are very encouraged by the outlook for
REEs and uranium and excited to work with Elmore as our Northern Territory geological consultancy.”
Qualified Person
Mr. Geoffrey Reed (MAusMM (CP)) (MAIG), Consultant for the Company, is a qualified person as defined
by National Instrument 43-101 – Standards of Disclosure or Mineral Projects and has reviewed the
scientific and technical information in this press release.
About MegaWatt Lithium and Battery Metals Corp.
MegaWatt is a British Columbia based company involved in the acquisition and exploration of mineral
properties in Canada. The Company holds a 100% undivided interest, subject to a 1.5% NSR on all base,
rare earth elements and precious metals, in the Cobalt Hill Property, consisting of eight mineral claims
covering an area of approximately 1,727.43 hectares located in the Trail Creek Mining Division in the
Province of British Columbia, Canada.
Additionally, the Company has acquired a 60% interest in a company that indirectly holds a 100%
interest (subject to a 2% NSR) in two prospective silver-zinc projects in Australia, being the Tyr Silver
Project and the Century South Silver-Zinc Project (see press release dated August 13, 2020), an indirect
100% interest (subject to a 1% NSR) in and to certain mining tenements in Northern Territory and New
South Wales, Australia prospective for nickel-cobalt-scandium and rare earths and a 100% interest
(subject to a 2% NSR) in and to the Route 381 Lithium Property, comprised of 40 mineral claims located
in James Bay Territory, north of Matagami in the Province of Quebec, covering 2,126 hectares (see press
release dated February 3, 2021).
Investors can learn more about the Company and team at https://megawattmetals.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
David Thornley-Hall Chief Executive Officer
The CSE does not accept responsibility for the adequacy or accuracy of this release.
This press release includes "forward-looking information" that is subject to a number of assumptions, risks
and uncertainties, many of which are beyond the control of the Company. Forward-looking statements
may include but are not limited to, statements relating to the trading of the Company's common shares on
the Exchange and the Company's use of proceeds and are subject to all of the risks and uncertainties
normally incident to such events. Investors are cautioned that any such statements are not guarantees of
future events and that actual events or developments may differ materially from those projected in the
forward- looking statements. Such forward-looking statements represent management's best judgment
based on information currently available. No securities regulatory authority has either approved or
disapproved of the contents of this news release.