NEW AGE METALS INC. ANNOUNCES PRELIMINARY RESULTS OF EXTENSIVE SUMMER EXPLORATION PROGRAM IN SOUTHEAST MANITOBA 31st October, 2023, 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 PRELIMINARY RESULTS OF
EXTENSIVE SUMMER EXPLORATION PROGRAM IN SOUTHEAST
MANITOBA
31st October, 2023, 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. (“MRL”) is pleased to announce the results of recently received
assays at its Winnipeg River -Cat Lake Lithium Projects of Southeast Manitoba . An extensive
summer work program has been underway since mid -May including airborne geophysical
surveying, rock and soil sampling, biogeochemical sampling, and outcrop stripping in preparation
for the winter drilling program. The 2023/2024 budget for the above work including approximately
15,000 meters of drilling is $7 million. The work has already successfully identified new
spodumene occurrences on the Lithium Two and Bird River Lithium properties. Additionally,
numerous known targets have been further delineated and recent assays from geochemical
sampling identified several new areas to be considered highly prospective for lithium-cesium-
tantalum (“LCT”) type pegmatites based on geostatistical review of the results.
Highlights
• Six grab samples from the Tappy Pegmatite returned over 1.0 % Li2O including up
to 5.07 % Li 2O. Additional pegmatites identified ~150 m to the west (assay results
pending).
• New spodumene-bearing pegmatite dyke (Figure 1) identified 450m to the north of
the Eagle Pegmatite on the Lithium Two property as a direct result of following up
anomalies from lithogeochemical grid sampling. Assays from spodumene-bearing
samples are pending.
• Grab samples 50 meters southeast of FD No.5 pegmatite returned 3,965 and 1,124
ppm Li.
• 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.
• Heritage Resource Impact Assessment (HRIA) surveys have been completed on
Lithium Two and Lithman East properties in preparation for winter drilling.
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: Spodumene bearing pegmatite identified on the northwestern edge of the Lithium Two Property (NAD83 UTM 15N
325488 E, 5610266 N)
Chairman and CEO Harry Barr commented; “We are happy to report the assay results that have
been received to date. They have not only confirmed that we have numerous high -grade
lithium zones across our land package but our technical team from Axiom Exploration
Group has been able to identify additional prospective zones for immediate follow up. These
results further reinforce our belief in the potential of our properties that surround the prolific Tanco
Mine. We look forward to the remaining results coming in and the planned Winter Drilling
Campaign to test targets and further develop our properties with our partners Mineral Resources.”
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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Table 1: Sampling Highlights from 2023 Lithogeochemical Program received as of October 19th, 2023
Easting Northing
634410 308653 5587103 5.07 26.1 90.7 6.9 205 Tappy pegmatite
633961 308639 5587109 2.96 309.6 189.3 1104.8 2260 Tappy pegmatite
634412 308635 5587137 2.61 277.8 89.9 696.7 2364 Tappy pegmatite
634413 308648 5587041 2.19 57.0 34.3 205.4 700 Tappy pegmatite
633963 308639 558711.2 1.52 299.0 80.7 560.7 2990 Tappy pegmatite
634411 308640 5587127 1.49 406.1 142.9 610.7 3591 Tappy pegmatite
633951 326433 5609854 0.85 119.8 147.8 508.0 933 FD5 south pegmatite
633959 308645 5587112 0.81 320.2 156.3 988.2 3233 Tappy pegmatite
634418 308635 5587132 0.6 247.0 188.1 260.9 3585 Tappy pegmatite
633964 308635 5587127 0.57 239.6 93.7 255.4 4216 Tappy pegmatite
633962 308639 5587112 0.49 178.1 95.0 327.5 2355 Tappy pegmatite
634419 308631 5587138 0.39 103.3 110.6 299.8 1107 Tappy pegmatite
633952 326443 5609852 0.24 211.0 121.3 205.4 1261 FD5 south pegmatite
633957 308649 5587104 0.22 341.4 116.5 416.4 3147 Tappy pegmatite
633956 308653 5587100 0.19 339.3 142.9 799.4 3211 Tappy pegmatite
633958 308646 5587108 0.13 348.8 168.5 774.5 3123 Tappy pegmatite
634415 308647 5586966 0.1 278.8 407.9 641.2 2522 Tappy pegmatite
634416 308659 5586913 0.07 153.7 130.7 305.3 2114 Tappy pegmatite
634142 333326 5590361 0.05 788.8 56.4 25.0 4122 Lithman East pegmatite
633661 325494 5610256 0.04 82.3 500.7 524.6 1089 Lithium Two NW pegmatite
633656 325618 5610261 0 9.4 260.1 69.4 260 Lithium Two NW pegmatite
Rb2O
(ppm) Sample DescriptionNAD83/ UTM Zone 15Sample ID Li2O
(%)
Cs2O
(ppm)
Ta2O5
(ppm)
BeO
(ppm)
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: Overview of Initial Assays Received on Bird River Lithium Property
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: Overview of Initial Assays Received on Lithium Two Property
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 4: Overview of Initial Assays Received on Lithman East Property
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: UAV Image of recent stripping performed at spodumene-rich FD No.5 Pegmatite
Exploration Update
Geochemical Sampling and Assays
• A total of 1,822 rock samples, 2,637 Mobile Metal Ion (MMI) soil samples, and 252
biogeochemistry sample have been collected as of October 19th, 2023. Lab results from
967 rock samples and 1,427 MMI soil samples have been received.
Geophysical Surveying
• Concurrent with the field program, Axiom Exploration Group Ltd. carried out a high-
resolution helicopter-borne survey covering 4,345 line -kms consisting of Magnetics,
Radiometrics, and LiDAR.
• Resource Potentials Pty Ltd. out of Perth Australia has been engaged to complete a
detailed review and interpretation of all newly acquired geophysical data.
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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Permits/Archaeological Surveys
• Numerous permit applications and amendments have been submitted and are undergoing
final review in preparation for winter drilling.
• Heritage Resource Impact Assessment (HRIA) surveys have been completed for claims
within Provincial Parks as part of NAM’s commitment to responsible and sustainable
development.
On-going Work
• Prospecting teams will remain on site until late October to conduct detailed follow up
work on areas of interest identified by preliminary assay review.
• Reconnaissance exploration in unexplored areas of the project.
• Continued preparation for 2024 Winter Drill Program including logistics, drill access ,
and camp construction.
• Detailed review of all assay results.
• Mapping and 3D modelling of priority drill targets.
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. Analytical results of certified refer ence 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. in Lakefield, ON, 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.