Corporate Update Year in Review & Outlook for 2021
New Age Metals TSX-V: NAM OTCQB: NMTLF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
+1.613. 659.2773 www.newagemetals.com
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Corporate Update
Year in Review & Outlook for 2021
• In 2020 the Company’s primary objective was to follow up on recommendations made in the
2019 River Valley Palladium Project Preliminary Economic Assessment (PEA).
• The River Valley Palladium Project is one of North America’s largest undeveloped primary
Platinum Group Metal (PGM) projects. The Project has excellent infrastructure and is within
100 kilometres of the Sudbury Metallurgical Complex. The Project is 100% owned by New
Age Metals.
• The Company completed a three-phase exploration and development plan at River Valley
which included drilling, environmental, and archaeological studies.
• The Company also completed follow-up mapping and sampling programs on its Lithium
One Project in Southeast Manitoba. The program was co-funded by the Manitoba Chamber
of Commerce’s, Manitoba Mineral Development Fund (MMDF). In December the Company
received a drill permit for its Lithium Two Project and a permit is pending for Lithium One.
Further drill target definition surveys are being contemplated for 2021.
• The Company is expecting results and corresponding press releases from both its rhodium
evaluation program at River Valley and the surface sampling program from its Lithium One
Project in Manitoba before the end of January 2021.
• The spot price of an ounce of Palladium increased by over 18% in the last year, to
$US2,220/oz as at December 21, 2020. Rhodium, which is also present at River Valley, has
seen a price increase of over 160% year-to-date to $US16,000/ oz.
• The Company is actively seeking an option/joint venture partner for our Genesis PGM-Cu-
Ni Project in Alaska and for our Lithium division in Manitoba.
December 22, 2020 Rockport, Canada – New Age Metals Inc. (TSX.V: NAM; OTCQB: NMTLF;
FSE: P7J.F) Harry Barr, Chairman & CEO, stated; “We are pleased to provide shareholders with a
year end review of our activities in 2020 and to look ahead to our exploration and development plans for
our portfolio of green metal projects in 2021.”
The Company’s primary objective this year was to follow up on recommendations made in the 2019
River Valley Project PEA. To that end we have completed a three-phase exploration and development
plan which included two rounds of drilling, initiated environmental baseline and archaeological studies,
and have commenced a phase one rhodium evaluation program with the objective of including rhodium as
a payable metal.
As we progress into 2021, we are focused on advancing River Valley to a Prefeasibility study. This would
include recommendations to complete metallurgy, hydrogeology, geotechnical surveys, an updated
mineral resource estimate, environmental baseline, infill and exploration drilling. Management is
currently soliciting quotes from third party engineering firms with the objective of completing a final
New Age Metals TSX-V: NAM OTCQB: NMTLF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
+1.613. 659.2773 www.newagemetals.com
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Prefeasibility budget by the end of February 2021. Subject to the completion of additional funding we
plan to initiate this study by the third quarter of 2021 and our objective is to complete the Prefeasibility
study by the end of the first quarter of 2022.
Genesis PGM-Cu-Ni Project
The Genesis PGM-Cu-Ni Project is an under explored, highly prospective multi-prospect drill ready
property. In 2020 NAM’s management continued to seek an option/joint-venture partner for this road
accessible PGM-Cu-Ni Project using the Prospector Generator business model. COVID-19 prevented
property visits which in turn hindered any finalization of a potential option / joint venture deal. The
Company paid for all holding costs in 2020 and the project remains in good standing. The stable land
status, ease of access and superb infrastructure make this project prospective for year-around exploration,
and development.
2020 Exploration and 2021 Plans for Lithium Division
The Company has seven Lithium and Rare Element Projects in the Winnipeg River Pegmatite Field,
located in South East Manitoba and situated around the Tanco Mine. The world-class Tanco Pegmatite is
a highly fractionated lithium-cesium-tantalum (LCT)–type pegmatite that has historically been mined
(Tanco Mine) since 1969 for Li, Ta, Cs, Rb and Be ores. The Tanco Pegmatite is a very rich tantalum and
cesium deposit with it being the world's most significant and richest known source of cesium representing
more than two-thirds of the world's reserve.
In 2020, the company conducted a follow-up round of surface exploration work on its Lithium One
Project to generate future drill targets. This program was co-funded by a grant from Manitoba
Chamber of Commerce’s, Manitoba Mineral Development Fund (MMDF). Over 80 samples have been
sent to a laboratory in Saskatchewan and results are expected in January. Samples from a previous work
program on the project were taken from the Silverleaf and Annie pegmatites and not only returned
significant Li20 assays of up to 4.1% but heightened levels of Rubidium Oxide (Rb2O). Management
plans to make a second application for a grant from the MMDF in 2021. In December 2020 the
Company received a drill permit for its Lithium Two Project and the application for a permit on Lithium
One was submitted to the Manitoba government.
The Company continues to solicit potential option/joint venture partner(s) to continue the
development of its Lithium division.
Shares for Services
The Company has issued 135,600 common shares at a deemed value of $0.10 per share to Agora Internet
Relations Corp. (“AGORACOM”) pursuant to the terms of the March 2020 agreement. The securities
issued represent the fourth payment for services under the terms of the agreement and are subject to a four
month plus one day hold period expiring April 22, 2021.
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New Age Metals TSX-V: NAM OTCQB: NMTLF
Field Office: 59 Burtch’s Lane, Rockport, ON, Canada, K0E 1V0 [email protected]
+1.613. 659.2773 www.newagemetals.com
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About NAM
New Age Metals is a junior mineral exploration and development company focused on the discovery,
exploration and development of green metal projects in North America. The Company has two divisions; a
Platinum Group Metals division and a Lithium/Rare Elemen t division. The PGM division includes the
100% owned, multi -million-ounce, district scale River Valley Project, one of North America’s largest
undeveloped Platinum Group Metals Projects, situated 100 km from Sudbury, Ontario. The Company has
recently compl eted a Preliminary Economic Assessment on the project and is working towards
Prefeasibility. In Alaska the Company owns 100% of the Genesis PGM -Cu-Ni Project. The Lithium
division is the largest mineral claim holder in the Winnipeg River Pegmatite Field, where the Company is
exploring for hard rock lithium and various rare elements such as tantalum and rubidium. Our philosophy
is to be a project generator with the objective of optioning our projects with major and junior mining
companies through to production. The Company is actively seeking an option/ joint venture partner for
its road-accessible Genesis PGM-Cu-Ni project in Alaska and for our Lithium division in Manitoba.
Investors are invited to visit the New Age Metals website at www.newagemetals.com where they can review the
company and its corporate activities. Any questions or comments can be directed to [email protected]
or Harry Barr at [email protected] or Cody Hunt at [email protected] or call 613 659
2773.
On behalf of the Board of Directors
“Harry Barr”
Harry G. Barr
Chairman and CEO
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 release.
Cautionary Note Regarding Forward Looking Statements: This release contains forward-looking statements that involve risks and
uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or
beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-
looking statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “believe”,
“anticipate”, “confident”, “intend”, “strategy”, “plan”, “will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or similar
expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on
a variety of important factors, including, among others, the Company’s ability and continuation of efforts to timely and completely
make available adequate current public information, additional or different regulatory and legal requirements and restrictions that
may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com),
including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in
the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts’ expectations or
estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking
statements.