Phase 1 Drone Magnetic Survey Completed & Phase 2 Commencing on Additional Lithium Projects in SE Manitoba
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
Page1
Phase 1 Drone Magnetic Survey Completed & Phase 2 Commencing
on Additional Lithium Projects in SE Manitoba
• A first phase UAV-Borne Magnetometry survey has been completed on the Company’s
Lithium Two, Lithman West and Cat Lake Lithium Projects.
• Geophysical magnetic data is being reviewed and preliminary reviews show a correlation
of the known surface exposed Eagle Pegmatite on the Lithium Two Project and data.
• NAM has 100% ownership of seven pegmatite hosted Lithium and Rare Element Projects
in the Winnipeg River Pegmatite Field, located in southeast (SE) Manitoba.
• NAM’s exploration focus on SE Manitoba is on Lithium-bearing pegmatites.
• The seven projects are strategically situated within the Winnipeg River Pegmatite Field,
which hosts the world-class Tanco Pegmatite that has been mined for Tantalum, Cesium
and Spodumene (one of the primary Lithium minerals) in varying capacities, since 1969.
• The company has a signed Exploration Agreement with the Sagkeeng First Nation (see
Oct 25th, 2018 News Release).
• NAM has contracted EarthEx to conduct a second phase UAV-Borne Magnetometry
Surveys on the company’s Lithman East, and Lithman North Projects in SE Manitoba.
Rockport, Canada – May 19, 2021 Rockport , Canada - New Age Metals Inc. (NAM) (TSX.V:
NAM; OTCQB: NMTLF; FSE: P7J) (“NAM” or the “Company”) is pleased to announce that it
has received the initial data and preliminary report from EarthEx with regards to the Drone
Magnetic Survey flown on three of the company’s Lithium Projects in SE Manitoba . The claims
are held by Lithium Canada Development, a wholly owned subsidiary of New Age Metals.
The Drone M agnetic Survey is a UAV -Borne Magnetometry Survey. The present system being
used by EarthEx is the highest resolution drone magnetics system on the market today. EarthEx is
a Manitoba-based geophysical consulting company. The EarthEx airborne magnetic geop hysical
survey technology will be used to further define future drill targets for the company’s Lithium
Two, Lithman West and Cat Lake Lithium Projects.
The new geophysical magnetic data is being reviewed by the NAM technical team and a news
release will follow once the review is complete . As well, EarthEx is generating an additional set
of maps for a more in-depth analysis of the data. Preliminary reviews show a correlation of the
known surface exposed Eagle Pegmatite on the Lithium Two Project and the UAV magnetic
data.
NAM has contracted EarthEx to conduct a second phase of a UAV -Borne Magnetometry
Survey over the company’s Lithman East and Lithman North Projects. A third phase of UAV
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
work is planned for later in the summer of 2021 to cover the Lithman East Extension and Lithium
One Projects.
Figure 1: New Age Metals lithium project map, southeast, Manitoba.
The Phase One UAV-Borne Magnetometry Survey was co-funded by the Manitoba Mineral
Development Fund, a mineral fund sponsored and managed by the Manitoba Chamber of
Commerce.
Lithium pegmatites are known to express anomalously low magnetic susceptibility, resulting in a
magnetic low anomaly in most terrains. The advent of the high -resolution low -flying UAV
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
Page3
magnetometric surveying system used by EarthEx represents a new and efficient way to
define exploration targets and map the presence and extent of these types of deposits, without
any surface disturbance.
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, multi -million-ounce, district scale River Valley
Project, one of North America’s largest undeveloped Platinum Group Metals Projects, situated 100
km from Sudbury, Ontario. The Company has recently completed a Preliminary Economic
Assessment on the project and, plans are to complete a Pre-Feasibility Study by the end of the
first quarter of 2022 . In Alaska, the Company owns 100% of the Genesis PGM -Cu-Ni Project,
an early-stage exploration property.
The 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, cesium, and rubidium. 2021 plans include drone geophysics on at least five of the
Company’s seven projects and a drill program on the Company’s Lithium Two 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 its road -accessible Genesis PGM-Cu-Ni project in Alaska and for all or
part of our Lithium Division in Manitoba.
Investors are encouraged to visit the New Age Metals website at http://www.newagemetals.com
where they can review the company , the projects and its corporate activities. Any questions or
comments can be directed to the followi ng: [email protected] or Harry Barr at
[email protected] or Cody Hunt at [email protected] or call 613 659 2773.
Opt-in List
We encourage you to sign up on our website (www.newagemetals.com) to receive our updated
news.
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
Page4
Qualified Person
The contents contained herein that relate to Exploration Results or Mineral Resources is based on
information compiled, reviewed or prepared by Carey Galeschuk, P.Geo., a consulting geoscientist
for New Age Metals. Mr. Galeschuk is the Qualified 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
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 o f important factors,
including, among othe rs, 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 factor s as may be
discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify impo rtant 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 unanti cipated events. Investors should not place undue
reliance on forward-looking statements.