Updated NI 43-101 Mineral Resource Estimate 2,867,000 PdEq Measured and Indicated Ounces, with an additional 1,059,000 PdEq Ounces in the Inferred Classification River Valley Platinum Group Metal Deposit, Sudbury, 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
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Updated NI 43-101 Mineral Resource Estimate
2,867,000 PdEq Measured and Indicated Ounces, with an additional 1,059,000
PdEq Ounces in the Inferred Classification
River Valley Platinum Group Metal Deposit, Sudbury, Ontario
▪ The amended January 9, 2019 NI 43-101 Mineral Resource Estimate confirms that the
River Valley Project has 2,867,000 Measured and Indicated PdEq ounces, with 1,059,000
PdEq ounces in Inferred at a 0. 35 g/t and 2.0 g/t PdEq cut-off for open pit and
underground respectively.
▪ The amended and restated Mineral Resource Estimate presents a Mineral Resource that
demonstrates reasonable prospects for eventual economic extraction.
▪ The new pit constrained Mineral R esource will be more representative of the
potentially economic portion of the Mineral R esource that will be disclosed in the
upcoming 2019 Preliminary Economic Assessment (PEA).
▪ River Valley is the largest undeveloped primary PGM Mineral R esource in North
America. The Project has excellent infrastructure and is within 100 kilomet res of the
Sudbury Metallurgical Complex. The Project is 100% owned by New Age Metals.
▪ The Project’s first economic study (Preliminary Economic Assessment) is slated to be
completed on or before the end of Q2 2019.
January 15, 2019 Rockport, Canada – New Age Metals Inc. (NAM) (TSX.V: NAM; OTCQB: NMTLF;
FSE: P7J.F) Harry Barr, Chairman & CEO, stated; “The company is pleased to update our
shareholders with the new amended May 2018 NI 43-101 Mineral Resource Estimate of the River
Valley Platinum Group Metals (PGM) Project. As a result of a review by the British Columbia
Securities Commission (“BCSC”) the Company is clarifying the Technical Report on its River Valley
PGM Project filed on May 7, 2018. WSP Canada Inc. (WSP) under the supervision of Todd
McCracken, P. Geo., c ompleted the Mineral Resource estimation. Management believes this
study has upgraded the open pit bulk mining potential of this project. The May 2018 Technical
Report presented a global mineral inventory whereas the January 2019 Technical R eport
presents a pi t constrained Mineral R esource that shows reasonable prospects for eventual
economic extract ion. Our objective is to complete the Project’s first economic study, a
Preliminary Economic Assessment (PEA) on or before the end of Q2 2019. The second objective
is to continue to explore and develop the entire 16 kilomet res of mineralization throughout
the contact zone (current established Mineral Resource) and test the new footwall discovery
that has potential to extend throughout the overall Project.” (See Figure 1)
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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WSP Canada, under the supervision of Todd McCracken, P. Geo (Manager-Mining at WSP Canada)
has recently amended the 2018 NI 43-101 Mineral Resource estimation of the River Valley PGM
Deposit in the Sudbury Mining District of Ontario, Canada. The new Mineral Resource Estimate
has incorporated all the past data, geophysics, new drilling since 201 5 and the River Valley
Extension (RVE), including the additional drilling in the new footwall discoveries Pine Zone and
T3.
The results of the updated Mineral Resource Estimate are tabulated in Table 1 below (0.35 g/t
PdEq open pit and 2.0 g.t PdEq underground cut-off). This 43-101 Technical Report is available
on SEDAR.
Table 1: Results from the amended NI 43-101 Mineral Resource Estimate.
Class PGM + Au (oz) PdEq (oz) PtEq (oz)
Measured 1,394,000 1,701,000 1,701,000
Indicated 983,000 1,166,000 1,166,000
Meas +Ind 2,377,000 2,867,000 2,867,000
Inferred 841,000 1,059,000 1,059,000
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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Notes:
1. CIM definition standards were followed for the Mineral Resource Estimate.
2. The 2018 Mineral Resource models used Ordinary Krig ing grade estimation within a three -dimensional block model with
mineralized zones defined by wireframed solids.
3. A base cut-off grade of 0.35 g/t PdEq was used for reporting Mineral Resources in a constrained pit and 2.00 g/t PdEq was
used for reporting the Mineral Resources under the pit.
4. Palladium Equivalent (PdEq) calculated using (US$): $ 950/oz Pd, $ 950/oz Pt, $ 1,275/oz Au, $ 1500/oz Rh, $ 2.75/lb Cu,
$5.25/lb Ni, $36/lb Co.
5. Numbers may not add exactly due to rounding.
6. Mineral Resources that are not Mineral Reserves do not have economic viability
7. The Inferred Mineral Resource in this estimate has a lower level of confidence tha n that applied to an Indicated Mineral
Resource and must n ot be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral
Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
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: The Yellow Band represents the footwall potential area of the River Valley Deposit based
on the results of the Pine Zone where footwall mineralization was noted to extend 150 met res
eastward from the Pine Zone/ T3 main deposit. At present the only area tha t has confirmed
footwall mineralization is in the Pine Zone (defined from 2015 to 2017 drilling). Geophysics and
exploration are in progress to test other areas of the Deposit. Management’s specific focus is to
outline a sufficient potentially economic Mineral Resource in the northern portion of the project,
and subsequently develop a series of open pits (bulk mining), crush, and concentrate on site, and
ship the concentrates to Sudbury for metallurgical extraction.
CONFERENCES THIS QUARTER
In late January, our Chairman & CEO Harry Barr is travelling to South Africa attending two 1-2-1
style conferences with over 25 pre -booked meetings with mine finance companies, major mine
companies, institutions, stock brokers, and high net worth individuals.
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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OPT-IN LIST
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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). See results from the most recent NI 43-101 Mineral Resource update above in Table 1.
NAM management and consultants are currently designing a complete drill program to be
executed in 2019 for the River Valley Project. This plan will consider previously proposed drill
parameters and will be based on the most recent geophysical assessment and consultant
expertise. The projects first economic study, a Preliminary Economic Assessment (PEA) is
underway and is being overseen by Mr. Michael Neumann, P.Eng., a veteran mining engineer
and one of NAM’s directors. See the most recent press releases for the River Valley Project PEA
which detail s the appointment of P&E Mining Consultants Inc. and DRA Americas to jointly
conduct the study, dated July 25, 2018 and August 1, 2018 respectively. Our new Fall Chairman’s
message can be accessed at our website (www.newagemetals.com) .
On 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 4th agreement. The Genesis PGM
Project is a road accessible, under explored, highly prospective, multi -prospect drill ready
Palladium (Pd) - Platinum (Pt)- Nickel (Ni) - Copper (Cu) property. A comprehensive report on
previous exploration and future phases of w ork was completed by Avalon Development of
Fairbanks Alaska in August 2018 on Genesis. A full sampling program will be conducted to
continue to outline additional mineralization along the 800-metre by 40-metre mineralized zone
On August 29, the Avalon rep ort was submitted to NAM, m anagement is actively seek ing an
option/joint-venture partner for this road accessible PGM and Multiple Element Project using the
Prospector Generator business model.
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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QUALIFIED PERSON
The contents contained herein that relate to Exploration Results or Mineral Resources is
based on information compiled, reviewed or prepared by Todd McCracken, P.Geo . an
employee of WSP and independent of New Age Metals. Mr. McCracken is the Qualified
Person as defined by National Instrument 43-101 and approves the 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 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 o r 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.