New Age Metals Commences Drilling at River Valley PGM Project Near Sudbury
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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New Age Metals Commences Drilling at River Valley PGM Project Near
Sudbury
• The River Valley 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 has contracted Jacobs & Samuel Drilling Ltd of Val Caron,
Ontario to conduct a phase one 1,600 metre drill program at the River Valley
Project and drilling has begun
• The Company completed a $2M financing on February 3, 2020. The primary use of
proceeds will be to follow-up on recommendations from the 2019 Preliminary
Economic Assessment (PEA)
• Eric Sprott became a strategic shareholder and has an 18.56% ownership of the
Company’s current issued and outstanding shares on a post-conversion beneficial
ownership basis
• In January, the Company announced that it engaged IBK Capital Corp to assist the
Company in evaluating strategic alternatives to maximize shareholder value
• The Company is actively seeking an option/joint venture partner for its Genesis
PGM Project in Alaska and for our Lithium division in Manitoba
March 26th, 2020 Rockport, Canada – New Age Metals Inc. (TSX.V: NAM; OTCQB: NMTLF;
FSE: P7J.F) Harry Barr, Chairman & CEO, stated; “New Age Metals is pleased to announce that
the company is about to commence the next phase of drilling at the River Valley PGM deposit
near Sudbury, Ontario. The company plans to drill about 1,600m of core in five holes to test
high-priority targets within and adjacent to the Pine Zone and Dana North Zone of the River
Valley deposit. This drill program is the first phase of our 2020 exploration and development
program, and will run through April. The Company continues to monitor the COVID-19
pandemic and is evaluating the potential risks to our staff and contractors. In light of the fluid
nature of events the Company would like to note that there is no certainty that the current
exploration activities will be completed without interruption.”
The purpose of the drill program is to test three Pine Zone target types: 1) induced
polarization (IP) chargeability highs from the 2017 geophysical survey for extensions of the Pine
Zone or new discoveries in the footwall to Dana North; 2) potential extensions of higher-grade
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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trends external to the current mineral resources in the Pine Zone; and 3) whether and how the
Pine Zone may be connected to the Dana North Zone at depth. The connection of the two zones
is currently modelled, based on the available drilling, as a major SSE-plunging fold. The
drilling will test for evidence of such folding, including the potential presence of thickened
and higher-grade PGM sulphide mineralization within the fold nose. See Figure 1 below for
the planned drill hole locations in the upcoming phase one program.
Figure 1: Location of planned drill holes (labelled) and previous drill holes plotted on an inverted IP chargeability
plan (coloured) and a 3-D wireframe model of the Dana North and Pine Zones, River Valley PGM Project near
Sudbury, Ontario
Since the two discovery holes in 2015, 19 more holes have been drilled into the Pine Zone. All
the holes except one intersected the zone. Examples of some of the better intersections are: 4.03
g/t Pd+Pt+Au over 9m from 145m in hole 2015-DN002 and 3.22 g/t Pd+Pt+Au over 4m from
202 m in hole 2016-DN-T2-10. More details can be found in the various press releases on the
New Age Metals website. The Pine Zone remains open along strike and at depth with an
interpreted SSE dip/plunge direction.
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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AGORACOM
Further to news release of March 17, 2020, the Company has issued 271,200 common shares at a
deemed price of $0.05 per share to Agora Internet Relations Corp. (“Agoracom”). The securities
issued represent the first payment for services under the terms of the agreement and are subject to
a four month plus one day hold period expiring July 26, 2020.
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 Element
division. The PGM division includes the 100% owned River Valley Project, one of North
America’s largest undeveloped Platinum Group Metals Projects, situated 100 kilometres from
Sudbury, Ontario as well as the Genesis PGM Project in Alaska. 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. New Age Metals is a junior resource
company on the TSX Venture Exchange, trading symbol NAM, OTCQB: NMTLF; FSE:
P7J with 136,876,766 shares issued to date.
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.
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Qualified Person
The contents contained herein that relate to Exploration Results or Mineral Resources is based on
information compiled, reviewed or prepared by Bill Stone, P.Geo., a consulting geoscientist for
New Age Metals. Dr. Stone is the Qualified Person as defined by National Instrument 43-101
and has reviewed and approved the technical content of this news release.
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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On behalf of the Board of Directors
“Harry Barr”
Harry G. Barr
Chairman and CEO
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Exchange) accepts responsibility for the adequacy or accuracy of this release.
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