Group Ten Metals Reports Significant Rhodium In Drill Results from Stillwater West, Anticipates Rhodium Component to Planned Resource Estimates
TSX.V: PGE
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Group Ten Metals Reports Significant Rhodium In Drill Results from Stillwater West,
Anticipates Rhodium Component to Planned Resource Estimates
May 18, 2021 – Vancouver, BC - Group Ten Metals Inc. (TSX.V: PGE; US OTCQB: PGEZF; FSE: 5D32) (the “Company”
or “Group Ten”) is pleased to report interim results from the first comprehensive rhodium assay campaign at the most
advanced target areas at its 100% -owned Stillwater West PGE-Ni-Cu-Co + Au project in Montana, USA. The current
campaign centers on systematic continuous assays of more than 4,000 samples of drill core across well mineralized
zones from the advanced Chrome Mountain, Camp, and Iron Mountain target areas with the objective of including a
significant rhodium component in the maiden resource estimates of Platreef -style sulphide mineralization now in
development on the project.
Highlights
• Rhodium is a rare platinum group element ("PGE") that is primarily used as a specialized catalyst alongside
platinum and palladium in automotive catalytic converters. Supply constraints for rhodium have supported
steadily rising prices since 2017. At recent values, rhodium trades at more than 20 times the value of platinum
on a spot price basis at over USD$27,000 per ounce.
• Rhodium is mined solely as a co -product at grades that are often below 0.1 g/t. South Africa dominates global
production, and t here is very little mine supply in North America . Sibanye-Stillwater, adjacent to Group Ten's
Stillwater West project, is the primary US producer.
• Work to date has confirmed widespread rhodium in drill results at potentially significant co -product grades of
0.03 to 0.1 g/t Rh in all three advanced areas, with shorter i ntervals ranging up to 0.5 g/t Rh. At current spot
prices 0.1 g/t Rh equates to 2.17 g/t platinum equivalent, and the weighted average grade of 0.048 g/t Rh from
intervals highlighted in Table 1 equals over 1 g/t platinum equivalent value.
• Past work previo usly reported by Group Ten included surface sample results of up to 5.78 g/t Rh at the HGR
target in the Iron Mountain area , and 1.07 g/t Rh at Chrome Mountain in reconnaissance -scale rock sample
programs.
• Early results for other rare PGEs show potential for additional value from iridium, osmium, and rubidium which
often occur along with platinum, palladium, and rhodium at Stillwater West.
• Stillwater West is located stratigraphically below Sibanye -Stillwater's high-grade J-M Reef PGE deposit in the
Stillwater complex. Group Ten is applying geologic parallels from the Platreef district, which is located
stratigraphically below the productive Merensky and UG2 reefs in a similar layered magmatic system in South
Africa's Bushveld complex. The mines of the Platreef district are among the largest and most profitable mines in
the world, producing an attractive polymetallic mix of battery metals, PGE s, and gold from very large nickel -
copper sulphide deposits.
• Group Ten is modeling drill -defined mineralization at the Chrome Mountain, Camp, and Iron Mountain target
areas which starts at or near surface and runs from 1 to 1.5 kilometers in strike in each area. All mineralization is
open for expansion along trend and at depth as demonstrated by the 2020 IP survey (see April 19, 2021 news
release).
• Stillwater West continues to rapidly advance towards its potential to become a world-class source of low-carbon,
sulphide-hosted nickel, copper, and cobalt, critical to the electrification movement, as well as key catalytic metals
including platinum, palladium and rhodium used in catalytic converters, fuel cells, and the production of green
hydrogen.
Michael Rowle y, President and CEO, commented, “We are very pleased with th ese first phase results from our
expanded rhodium assay campaign which demonstrate potential co-product levels of rhodium in wide intervals from
all three priority target areas and across seven kilometers of strike in the lower Stillwater complex . Rhodium is
important for its high value and also because it is one of five of our target commodities – along with palladium,
platinum, nickel, and cobalt – that are listed as critical by the US government with a view to securing domestic supplies.
We are quickly advancing towards our maiden resource estimates of these five commodities, plus also copper and
gold, in a famously productive US mining district, and look forward to future announcements in this regard. We also
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look forward to providing further updates on our planned 2021 multi-rig drill campaign and expanded IP survey at
Stillwater West, in addition to updates on other initiatives that we have underway, in the near term.”
Table 1 – Select rhodium drill results from the advanced Chrome Mountain, Camp, and Iron Mountain target
areas, Stillwater West PGE-Ni-Cu-Co + Au project, Montana USA.
Total Platinum Equivalent (TotPtEq g/t) and Total Nickel Equivalent (TotNiEq %) calculations reflect total gross metal content using metals
using approximately three-year trailing average prices as follows (all USD): $6.00/lb nickel (Ni), $3.00/lb copper (Cu), $20.00/lb cobalt
(Co), $900/oz platinum (Pt), $1,750/oz palladium (Pd), $1,500/oz gold (Au), and $8,750/oz rhodium (Rh). Values have not been adjusted
to reflect metallurgical recoveries. Total metal equivalent values include both base and precious metals. Nickel equivalent values may be
converted to copper equivalent values by multiplying the NiEq value by the price ratio of the two (ie times two per the above prices), such
that 0.5% NiEq equates to 1.0% CuEq. Platinum equivalent has been used based on the historic values of platinum and palladium. Platinum
equivalent values may be converted to palladium equivalent values by multiplying the PtEq value by the price ratio of the two (ie times
0.514 per the above prices), such that 1 g/t PtEq equates to 0.514 g/t PdEq.
About Stillwater West
The Stillwater West PGE-Ni-Cu-Co + Au project positions Group Ten as the second-largest landholder in the Stillwater
Complex, adjoining and adjacent to Sibanye-Stillwater’s Stillwater, East Boulder, and Blitz PGE mines in south-central
Montana, USA1. The Stillwater Complex is recognized as one of the top regions in the world for PGE-Ni-Cu-Co
mineralization, alongside the Bushveld Complex and Great Dyke in southern Africa, which are similar layered
intrusions. The J-M Reef, and other PGE-enriched sulphide horizons in the Stillwater Complex, share many similarities
with the highly prolific Merensky and UG2 Reefs in the Bushveld Complex. Group Ten’s work in the lower Stillwater
Complex has demonstrated the presence of large-scale disseminated and high-sulphide battery metals and PGE
mineralization, similar to the Platreef in the Bushveld Complex3. Drill campaigns by the Company, complemented by
a substantial historic drill database, are driving 3D models of Platreef-style mineralization in the five most advanced
target areas, three of which are expected to become formal mineral resources by mid-2021. Multiple earlier-stage
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Platreef-style and reef-type targets are being advanced across the rest of the 31-kilometer length of the project based
on strong correlations seen in soil and rock geochemistry, geophysical surveys, geologic mapping, and drilling.
About Group Ten Metals Inc.
Group Ten Metals Inc. is a TSX-V-listed Canadian mineral exploration company focused on the development of high-
quality platinum, palladium, nickel, copper, cobalt, and gold exploration assets in top North American mining
jurisdictions. The Company’s core asset is the Stillwater West PGE-Ni-Cu-Co + Au project adjacent to Sibanye-
Stillwater’s high-grade PGE mines in Montana, USA. Group Ten also holds the high-grade Black Lake-Drayton Gold
project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario, and the Kluane
PGE-Ni-Cu-Co project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.
About the Metallic Group of Companies
The Metallic Group is a collaboration of leading precious and base metals exploration companies, with a portfolio of
large, brownfield assets in established mining districts adjacent to some of the industry’s highest-grade producers of
silver and gold, platinum and palladium, and copper. Member companies include Metallic Minerals in the Yukon’s
high-grade Keno Hill silver district and La Plata silver-gold-copper district of Colorado, Group Ten Metals in the
Stillwater PGM-nickel-copper district of Montana, and Granite Creek Copper in the Yukon’s Minto copper district. The
founders and team members of the Metallic Group include highly successful explorationists formerly with some of the
industry’s leading explorers/developers and major producers. With this expertise, the companies are undertaking a
systematic approach to exploration using new models and technologies to facilitate discoveries in these proven, but
under-explored, mining districts. The Metallic Group is headquartered in Vancouver, BC, Canada, and its member
companies are listed on the Toronto Venture, US OTC, and Frankfurt stock exchanges.
Note 1: References to adjoining properties are for illustrative purposes only and are not necessarily indicative of the exploration potential,
extent, or nature of mineralization or potential future results of the Company’s projects.
Note 2: Based on Sibanye-Stillwater’s 2018 Mineral Resources and Mineral Reserves Report.
Note 3: Magmatic Ore Deposits in Layered Intrusions—Descriptive Model for Reef-Type PGE and Contact-Type Cu-Ni-PGE Deposits, Michael
Zientek, USGS Open-File Report 2012–1010.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Michael Rowley, President, CEO & Director
Email: [email protected] Phone: (604) 357 4790
Web: http://grouptenmetals.com Toll Free: (888) 432 0075
Quality Control and Quality Assurance
Mr. Mike Ostenson, P.Geo., is the qualified person for the purposes of National Instrument 43-101, and he has reviewed
and approved the technical disclosure contained in this news release.
Forward-Looking Statements
Forward Looking Statements: This news release includes certain statements that may be deemed "forward-looking statements". All statements in this
release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production,
estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the
timing and success of exploration activities generally, the timing of the timing and results of future resource estimates, permitting time lines, metal prices
and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, titlefuture driling
actiivities and the locations of such drilling, and future plans and objectives of the company are forward-looking statements that involve various risks and
uncertainties. Although Group Ten believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking
statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ
materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project
parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable
terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and
equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental
impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the
companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic
viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those
projected in the forward-looking statements. For more information on Group Ten and the risks and challenges of their businesses, investors should review
their annual filings that are available at www.sedar.com.
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.