New Age Metals TSX-V: NAM OTCQB: NMTLF Field Office
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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NAM Appoints Veteran Mining Engineer to Oversee River Valley PGM
Projects First Economic Study
July 4th, 2018 Rockport, Canada – New Age Metals Inc. (TSXV: NAM; OTCQB: NMTLF; FSE: P7J.F)
New Age Metals would like to announce that effective today Michael Neumann, P.Eng. Lead
director of New Age Metals, has been selected to head up and oversee the Company’s 100%
owned River Valley Platinum Group Metal Project , which is located approximately 100km from
the Sudbury Metallurgical Complex, and its first Preliminary Economic Assessment (PEA).
Mr. Neumann will work to assist the Company’s technical committee, which are all senior
geologists and or engineers, and one or more 3rd party engineering companies. The final selection
process for the lead 3rd party engineering company is in progress and is expected to be completed
by mid-July.
Mr. Neumann has significant experience in the mining industry, he ha d been Proprietor of
Neumann Engineering and Mining Services, Inc. since 1993 until 2016, a company that provided
international engineering services focusing primarily on all hard rock engineering facets, open pit
mining and other engineering studies such as: mine design, rock mechanics, Preliminary
Economic Assessments, Pre -feasibility, Feasibility studies, productivity improvements, peer
reviews, and a host of other types of mining studies.
Mr. Neumann is a graduate of Haileybury School of Mines and Michigan Technological University
(Mining Engineering Degree) a member of the Canadian Institute of Mining, the International
Society of Rock Mechanics and the Association of Professional Engineers of Ontario. From 2003
to 2006, Mr. Neumann was Director and Chief Operating Officer of Silver E agle Mines Inc., (now
Excellon Resources Inc.) a TSX listed Canadian -based sil ver exploration and Development
Company focused on acquiring, exploring and developing high grade silver deposits in Mexico.
Prior to this Mr. Neumann was Co - Founder and Director of the Engineering Seismology Group
Inc. based in Kingston, Ontario.
His early industry experience includes positions of Chief Engineer at Campbell Red Lake Mines
(Red Lake, Ontario) and Underground Superintendent at Barrick’s Holt McDermott Mine
(Kirkland Lake, Ontario).
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
Page2
Presently the River Valley Project is North America’s largest undeveloped primary PGM
deposit with Measured + Indicated resources of 160 million tones @ 0.44 g/t Palladium, 0.17
g/t Platinum, 0.03 g/t Gold, with a total metal grad e of 0.64 g/t at a cut -off grade of 0.4 g/t
equating to 3,297,173 ounces PGM plus Gold and 4,626,250 PdEq Ounces (Table 1). This
equates to 4,626,250 PdEq ounces M+I and 2,713,933 PdEq ounces in inferred (see May 8 th,
2018 press release).
On April 18th, 2018, NAM announced the right to purchase 100% of the Genesis PGM Project,
NAM’s first Alaskan PGM acquisition related to the April 4 th agreement. The Genesis PGM
Project is a road accessible, un der explored, highly prospective, multi-prospect drill ready Pd-
Pt-Ni-Cu property. A comprehensive report on previous exploration and future phases of work
is slated for completion by mid -July on Genesis. Management will then actively seek an
option/joint-venture partner for this round accessible PGM and Multiple Element Project.
At this time the Company also announces the resignation of Trevor Richardson as President and
COO of the Company. On behalf of the Board of Directors, we would like to thank Mr. Richardson
for his time spent with the Company and we wish him well with his future endeavors.
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ABOUT NAM’S PGM DIVISION
NAM’s flagship project is its 100% owned River Valley PGM Project (NAM Website – River Valley
Project) in the Sudbury Mining District of Northern Ontario (100 km east of Sudbury,
Ontario). Presently the River Valley Project is North America’s largest undevelo ped primary
PGM deposit with Measured + Indicated resources of 160 million tones @ 0.44 g/t Palladium,
0.17 g/t Platinum, 0.03 g/t Gold, with a total metal grade of 0.64 g/t at a cut -off grade of 0.4
g/t equating to 3,297,173 ounces PGM plus Gold and 4,626 ,250 PdEq Ounces (Table 1). This
equates to 4,626,250 PdEq ounces M+I and 2,713,933 PdEq ounces in inferred (see May 8 th,
2018 press release). Having completed a 2018 NI -43-101 resource update the company is
finalizing its 2018 exploration programs which will include geophysics, and extensive drill,
advanced metallurgical and minerology studies and selective drill programs, which are all moving
our flagship project towards the completion of a Preliminary Economic Assessment (PEA). Our
objective is to develop a series of open pits (bulk mining) over the 16 kilometers o f
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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mineralization, concentrate on site, and ship the concentrates to the long-established Sudbury
Metallurgical Complex. On May 23 rd, 2018 , NAM’s board approved a Preliminary Economic
Assessment (PEA) on River Valley Platinum Group Metals Project’s. Management is currently
finalizing its selection of a 3rd party engineering company to complete this PEA. This will be the
first economic study on the project. Alaska: April 4th, 2018, NAM signed an agreement with one
of Alaska’s top geological consulting companies. The companies stated objective is to acquire
additional PGM and Rare Metal projects in Alaska. On April 18th, 2018, NAM announced the right
to purchase 100% of the Genesis PGM Project, NAM’s first Alaskan PGM acquisition related to
the April 4 th agreement. The Genesis PGM Project is a road accessible, under explored, highly
prospective, multi -prospect drill ready Pd -Pt-Ni-Cu property. A comprehensive report on
previous exploration and future phases of work is slated for completion by mid-July on Genesis.
Management will then actively seek an option/join t-venture partner for this round accessible
PGM and Multiple Element Project. On June 13 th, 2018 NAM received a completed IP
Geophysics Report from Abitibi Geophysics and is currently working with Alan King, NAM’s
Sudbury Geological consultant to review all geophysics.
The results of the new resource estimation are tabulated in Table 1 below (0.4 PdEq cut-off).
Class Tonnes
‘,000
Pd
(g/t)
Pt
(g/t)
Rh
(g/t)
Au
(g/t)
Cu
(%)
Ni (%) Co (%) PdEq
(g/t)
Total
Measured
62,877.5 0.49 0.19 0.02 0.03 0.05 0.01 0.002 0.99
Total
Indicated
97,855.2 0.40 0.16 0.02 0.03 0.05 0.01 0.002 0.83
Total Meas
+Ind
160,732.7 0.44 0.17 0.02 0.03 0.05 0.01 0.002 0.90
Inferred 127,662.0 0.27 0.12 0.01 0.02 0.05 0.02 0.002 0.66
Class PGM + Au (oz) PdEq (oz) PtEq (oz) AuEq (oz)
Total Measured 1,440,248 1,999,575 1,999,575 1,136,930
Total Indicated 1,856,925 2,626,675 2,626,675 1,463,793
Total Meas +Ind 3,297,173 4,626,250 4,626,250 2,600,724
Inferred 1,578,367 2,713,933 2,713,933 1,323,809
Notes:
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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A. CIM definition standards were followed for the resource estimation.
B. The 2018 resource models used Ordinary Krig grade estimation within a three -dimensional block model with
mineralized zones defined by wireframed solids.
C. A base cut-off grade of 0.4 % g/t PdEq was used for reporting resources.
D. Palladium Equivalent (PdEq) calculated using (US$): $1,000/oz Pd, $1,000/oz Pt, $1,350/oz Au, $1750/oz Rh, $3.20/lb
Cu, $5.50/lb Ni, $36/lb Co.
E. Numbers may not add exactly due to rounding.
F. Mineral Resources that are not mineral reserves do not have economic viability
G. The quantity and grade of reported inferred resources in this estimation are uncertain in nature and there has been
insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is
uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category.
ABOUT NAM’S LITHIUM DIVISION
The summer exploration plan has begun for the company’s Lithium Division. NAM has 100%
ownership of eight pegmatite hosted Lithium Projects in the Winnipeg River Pegmatite Field,
located in SE Manitoba, with focus on Lithium bearing pegmatites. Three of the projects are
drill ready. This Pegmatite Field hosts the world class Tanco Pegmatite that has been mined for
Tantalum, Cesium and Spodumene (one of the primary Lithium ore minerals) in varying
capacities, since 1969. NAM’s Lithium Projects are strategically situated in this prolific
Pegmatite Field. Presently, NAM is the largest mineral claim holder , with 8 separate projects,
for Lithium, Tantalum, Cesium, and other Rare Metals in the Winnipeg River Pegmatite Field.
Lithium Canada Development is a 100% owned subsidiary of New Age Metals (NAM) who
presently has an agreement with Azincourt Energy Corporation (AAZ) whereby AAZ will now
expand on its first year of this project a minimum of $600,000 in 2018.
In its initial earn in AAZ may earn up to 50%, of the eight Lithium projects that are 100% owned
by NAM. AAZ’s 50% exploration expenditure earn in is $2.950 million and should they continue
with their option they must issue u p to 1.75 million shares of AAZ to NAM. NAM has a 2%
royalty on each of eight Lithium Projects in this large underdeveloped pegmatite field.
As of June 14th, 2018 the option/joint-venture has begun their field exploration program where
a minimum of $600,000 will be spent in 2018.
For additional information on the NAM/AAZ option/joint-venture and recent acquisitions (see
the news releases dated Jan 15, 2018, May 2, 2018, May 10, 2018, June 6, 2018, June 14, 2018,
) or go the investors presentation on newagemetals.com.
QUALIFIED PERSON
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
Page5
The contents contained herein that relate to Exploration Results or Mineral Resources is based
on information compiled, reviewed or prepared by Carey Galeschuk, a consulting geoscientist for
New Age Metals. Mr. Galeschuk is the Qual ified Person as defined by National Instrument 43 -
101 and has reviewed and approved the technical content of this news release.
On behalf of the Board of Directors
“Harry Barr”
Harry G. Barr
Chairman and CEO
ADDITIONAL INFORMATION
Should you have additional inquiries, please contact Paul Poggione, Corporate Development,
Tel: 1-613-659-2773, email: [email protected].
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.