New Age Metals Expands Its BIRD River Lithium Project Announces Option Agreement
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 EXPANDS ITS BIRD RIVER LITHIUM PROJECT
ANNOUNCES OPTION AGREEMENT
December 11, 2023, Rockport, Ontario - New Age Metals Inc. (TSX.V: NAM; OTCQB: NMTLF;
FSE: P7J.F) (“NAM” or “Company”) is pleased to announce that it has entered into an option
agreement (the “Agreement”) dated December 1, 2023 with W.S. Ferreira Ltd. (“Ferreira”) to
acquire an undivided 100% interest in the mineral property claim Bridge and Bridge 1 located in
the Bird River area in the province of Manitoba, Canada (the “Option”).
In order to exercise the Option, the Company is required to make cash and share payments to
Ferreira as follows:
• A payment of $40,000 on or before December 29, 2023
• A payment of $50,000 on or before January 10, 2025
• A payment of $60,000 on or before January 10, 2026
• Issue 100,000 common shares of the Company on or before December 29, 2023
• Issue 200,000 common shares of the Company on or before January 10, 2025
• Issue 200,000 common shares of the Company on or before January 10, 2026
Pursuant to the terms of the Agreement, in the event that the Option is fully exercised, a 2% Gross
Over Ridding Royalty (the “Royalty”) shall be retained by Ferreira. The Company has the
exclusive right to purchase 1% of the Royalty for $1 million dollars.
Any securities issued in connection with the Agreement are subject to TSX Venture Exchange
approval and a four-month and a day hold period in accordance with applicable Securities Laws.
The Bridge and Bridge 1 claims now creates a contiguous claim package across our Bird River
Lithium Claim. The claims host the Matty Pegmatite, a spodumene bearing LCT pegmatite. This
pegmatite body is interpreted to be part of the same dyke swarm hosting the Company’s Tappy
Pegmatite and exhibits high grade lithium mineralization at surface.
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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Figure 1: Overview and location of Bridge and Bridge 1 Claims (yellow) hosting the Matty Pegmatite
About Matty Pegmatite
The Matty Pegmatite is exposed in 4 trenches over a length of 50 m, and the rock ridge rises 9 m
above the surrounding swamp. At the south end, the dyke strikes 5°, and is vertical. Its width
ranges up to 3.5 m, but it pinches out at the south end. Areas of highest spodumene content assayed
3.5% Li2O over 2.44 m and 1.0% Li2O over the adjoining 1.1 m in one trench, and averaged about
2.0% Li2O for three of the trenches. (ESS file 91092)
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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Figure 2: Spodumene bearing surface exposure of Matty Pegmatite
Qualified Person
The technical content of this news release has been reviewed and approved by Lynde Guillaume,
P.Geo. (Senior Geologist, Axiom), who is a “Qualified Person” as defined under National
Instrument 43-101 – Standards of Disclosure for Mineral Projects. Ms. Guillaume is independent
of the Company.
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 Element division and a Lithium/Rare Element division.
The PGE Division includes the 100% owned, multi -million-ounce, district -scale River Valley
Project, one of North America’s largest undeveloped Platinum Group Element Projects, situated
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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100 km by road east of Sudbury, Ontario. In addition to River Valley, NAM owns 100% of the
Genesis PGE-Cu-Ni Project in Alaska and plans to complete a surface mapping and sampling
program in 2023.
The Company’s Lithium Division is one of the largest mineral claim holders in the Winnipeg River
Pegmatite Field, where the Company is exploring for hard rock lithium and various rare elements
such as tantalum, rubidium, and caesium. Further exploration pl ans for 2023 include continued
mapping/sampling field programs following up on the anomalous results from the soil and rock
samples collected previously during summer 2023. In the Winter months, the Company plans to
drill up to 15,000m on several of the Co mpany’s projects. The Company has a partnership with
Mineral Resource Limited (MinRes, ASX: MIN), a top global lithium producer to explore and
develop the Company’s lithium project portfolio in Southern Manitoba. The 2023/24 budget is $7
million and is fully funded by MinRes. The Company received an additional $300,000 grant from
Manitoba Mineral Development Fund (MMDF) that is also being expended on joint ventured
Southern Manitoba properties.
In Northern Manitoba, the Company recently signed an option/joint venture binding term sheet
with Native Mineral Resources to develop the McLaughlin Lake Lithium Project. 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 our newly acquired Northman
and South Bay Lithium Projects in northern Manitoba, and its road -accessible Genesis PGE-Cu-
Ni Project in Alaska.
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 Faraz Rasheed at
[email protected] or call 613 659 2773.
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On behalf of the Board of Directors
“Harry Barr”
Harry G. Barr
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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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 State ments: 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
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expressions. These statements by their nature involve risks and uncertainties, and actual results
may differ materially depending on a variety of important factors, i ncluding, 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
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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 statem ents. 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
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