NEW AGE METALS INC. ANNOUNCES FINAL ASSAY RESULTS FROM SUMMER/FALL PROGRAM AND PREPARES FOR 15,000 METER WINTER DRILL PROGRAM 11th January 2024, Rockport, Ontario - New Age Metals Inc. (TSX.V: NAM; OTCQB: NMTLF;
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 INC. ANNOUNCES FINAL ASSAY RESULTS FROM
SUMMER/FALL PROGRAM AND PREPARES FOR 15,000 METER
WINTER DRILL PROGRAM
11th January 2024, Rockport, Ontario - New Age Metals Inc. (TSX.V: NAM; OTCQB: NMTLF;
FSE: P7J.F) (“NAM” or the “Company”) in conjunction with its Farm-in/Joint Venture agreement
with Mineral Resources Ltd. (“MinRes”) is pleased to announce that all assay results have been
received from the extensive summer exploration program on the Company’s Winnipeg River-Cat
Lake Lithium Projects of Southeast Manitoba.
The sampling campaign was conducted by the Company’s technical consultants from Axiom
Exploration Group Ltd. (“Axiom”) . A total of 2086 rock lithogeochemistry samples, 2601 MMI
soil geochemistry samples, and 328 MMV biogeochemistry were collected over the 20,270 hectare
land package.
A detailed geostatistical review of the results is ongoing in conjugation with a structural
analysis/interpretation by Res ource Potentials Ltd. ( “Respot”) of all newly acquired high-
resolution Tri-axial magnetics, Radiometrics, and LiDAR data. To date the assessment has yielded
several priority targets to be considered highly prospective for lithium -cesium-tantalum (“LCT”)
type pegmatites.
“Review of the results derived from the summer program has successfully identified
numerous target areas for the focus of our much-anticipated winter drilling campaign which
is slated to be gin the week of January 15 th 2023,” said Harry Barr, Chairman and CEO of
New Age Metals. “Our team will continue follow-up work from the data received as we now have
an extensive geological database integrating historical data compilation with a recent and robust
sampling and geophysical program. Together with our partners from Mineral Resources, we look
forward to further testing these targets with a 15,000 meter winter drill program and develop our
properties that surround the prolific Tanco Mine.”
Property Highlights
• Bird River Lithium Property:
o Pegmatite swarm on the Bird River Lithium property consisting of the
spodumene-rich Tappy and Matty pegmatites as well as nu merous other
recently discovered LCT style pegmatites.
o Recent option 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 which now creates a contiguous claim package
across the Company’s Bird River Lithium property. The claim hosts the Matty
Pegmatite which has historic assay results up to 3.5% Li2O.
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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• Lithium Two Property:
o Newly discovered spodumene-bearing pegmatite dyke located 450m to the
north of the Eagle Pegmatite on the Lithium Two property returned grab
samples grading up to 3.13% Li2O (sample# 215719).
o 8 grab samples within 30 meters of the FD -5 Pegmatite returned over 0.5 %
Li2O including up to 1.13 % Li2O (sample# 215747).
o Eagle Pegmatite extended at surface 50 meters east with sample returning
1.33% Li2O (sample# 633588).
• Lithman East:
o Initial geochemical evaluation shows indications of highly prospective trend
and pegmatite swarm including anomalous Li, Cs, and Ta values along the
Rush Lake Trend of the Lithman East property which lies only ~ 6 km from
Tanco Mine.
o Four samples within 65-meter trend returned anomalous Cs values including
up to 1476 ppm Cs (sample# 215917).
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: Lithium Two Property with 2023 Rock Sample Assay results
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: Lithman East 2023 rock sample grid assay results
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 3: Bird River Lithium Property with rock sample grid assay results
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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Sampling, analytical methods and QA\QC protocols
A thorough chain-of-custody and quality assurance and quality control (“QA/QC”) program was
carried out during the field program. Samples were obtained by rock hammer and rock saw.
Sample locations were recorded by handheld Garmin GPS and samples were phot ographed with
the documented number tags, then placed in poly sample bags and zip tied.
The Company’s implemented QA/QC procedures included the routine insertion of LCT (lithium-
caesium-tantalum) pegmatite certified standard control samples, lab duplicates, and silica blanks
in accordance with industry recommended practices. This was used to test for natural variability,
sampling bias, and homogeneity during sample preparation processes within the lab as well as
testing the precision of the sample and any possible contamination from the lab and ensure proper
calibration of lab equipment. Analy tical results of certified reference materials were verified
graphically and determined to be within the allowable error of 2 standards deviations of the
certified lithium values.
All rock samples were submitted to SGS Canada Inc. for Sodium Peroxide Fusion / ICP-AES and
ICP-MS analysis with a focus on Lithium, Tantalum, and Cesium. All soil and biological samples
were submitted SGS Canada Inc. in Burnaby, BC for MMI-M (soils) and MMI-MV (bio) analysis
with measurement by conventional ICP-MS. SGS Canada Inc. 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
100 km by road east of Sudbury, Ontario. In addition to River Valley, N AM 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 plans 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. The Company has slated to begin a 15,000
meter winter drill program on or about January 15th 2024. The Company’s Projects are fully funded
with the partnership the Company has with Mineral Resource Limited (MRL, ASX: MIN), a top
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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global lithium producer to explore and develop the Company’s lithium project portfolio in
Southern Manitoba. 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 Farid Mammadov at
[email protected] or call 613 659 2773.
Qualified Person
The technical information in this news release has been reviewed and approved by Lynde
Guillaume (Senior Geologist, Axiom Exploration Ltd.), a Qualified Person, and a Professional
Geoscientist (P.Geo) who is a registered member of the ‘Engineer and Geosciences of Manitoba’
(no. 47952).
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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 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.
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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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 con tained 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.