South Star Battery Metals Announces 2023 Positive Drilling Program Results for the BamaStar Graphite Project in Coosa County Alabama and NI43-101 Preliminary Economic Assessment Study Update.
{00030678:1}
NEWS RELEASE
South Star Battery Metals Announces 2023 Positive Drilling Program Results for the BamaStar Graphite
Project in Coosa County Alabama and NI43-101 Preliminary Economic Assessment Study Update.
Vancouver, Canada, November 08, 2023 – South Star Battery Metals Corp. (“South Star” or the “Company”)
(TSXV: STS) (OTCQB: STSBF), is pleased to announce that its 2023 drilling campaign has been completed on its
BamaStar Graphite Project in Coosa County, Alabama. The program was designed to test continuity and limits of
mineralization in support of the upcoming NI43 -101 Preliminary Economic Assessment (PEA) , scheduled for
completion at the end of Q1 202 4. 15 holes totaling approximately 1,900 meters were successfully completed,
and all holes at BamaStar have intercepted significant intervals of graphite mineralization.
During the drilling, several potentially promising zones were intersected as can be seen in the below photograph
(Figure 1).
Figure 1: Hole CMD 23-022 Core with Graphite Mineralization with Approximately 3.5% Grade (Cg)
Initial notable assay results have confirmed the prospectivity of several significant intersections as seen in Table
1 below based on a 1% cutoff grade.
{00030678:1}
Hole ID Hole Depth From To Interval Grade Cg
CMD23013 107.0m 0m 8m 8m 2.54%
CMD23014 125.0m 0m 23m 23m 2.17%
CMD23015 140.6m 9m 62.3m 53.3m 2.51%
CMD23016 95.0m 0m 60.9 60.9m 2.30%
CMD23016 N/A 70.8m 79m 8.1m 2.88%
CMD23017 128.0m 3.5m 36.5m 33m 3.07%
CMD23017 N/A 73.8 119.6m 45.8m 2.34%
CMD23018 95.0m 0m 63m 63m 2.42%
CMD23019 155.0m 88m 144.7 56.7m 2.77%
CMD23020 149.0m 3.5m 9,4m 5.9m 1.84%
CMD23020 N/A 70.2m 78.5m 8.3m 1.40%
CMD23021 74m 0m 34.7m 34.7m 2.39%
CMD23021 N/A 52.8m 67.7m 14.9m 2.40%
CMD23022 83m 0m 36m 36m 3.71%
CMD23022 N/A 44.03 75.5 31.5 1.92%
CMD23023 86m 0m 18.5m 18.5m 2.23%
CMD23023 N/A 24.0 35 11m 2.30%
CMD23024 173m 5m 14m 9m 3.34%
CMD23024 N/A 26.3m 64.5m 38.2m 2.25%
CMD23024 N/A 99.7m 152m 52.3m 1.61%
CMD23025 182m 0m 30.4m 30.4m 2.27%
CMD23025 N/A 35m 45.4m 10.4m 1.86%
CMD23025 N/A 144.5m 182m 37.5m 2.08%
CMD23026 146m 0m 20m 20m 2.78%
CMD23026 N/A 96.5m 146m 49.5m 1.54%
CMD23027 146m 2m 23.2m 21.2m 2.33%
CMD23027 N/A 44.6m 54.5m 9.9m 3.27%
CMD23027 N/A 75.5m 111.5m 36m 1.32%
Table 1: 2023 Campaign Significant Intersections in the fifteen holes (1885m) drilled at the BamaStar project.
{00030678:1}
Richard Pearce, CEO of South Star said, “Our 2023 drilling campaign was extremely successful, and every hole has
significant intervals with graphite mineralization. We tested controls and limits at depth, across the ore body, as
well as along strike. We discovered a significant deeper mineralized package below what we had previously
drilled, and there are several holes that ended in mineralization. We are open at depth and in both directions
along strike. These results will be incorporated into an updated resource definition as part of our upcoming PEA
scheduled for March 2024, and this deliverable should complete our 75% earn-in requirements on the properties.
We are also on schedule to complete our Feasibility Study for Santa Cruz Mine incorporating Phase 3 (50,000 tpa
of concentrates) by end of 2024. Our goals are to have two mines producing a total of 100,000 tpa of concentrates,
and 60,000-70,000 tpa of vertically integrated graphite production including active anode material s and other
critical graphite products in the US in 2027.”
ABOUT SOUTH STAR BATTERY METALS CORP
South Star Battery Metals Corp. is a Canadian battery metals project developer focused on the selective
acquisition and development of near-term production projects in the Americas. South Star’s Santa Cruz Graphite
Project, located in Southern Bahia, Brazil is the first of a series of industrial and battery metals projects that will
be put into production. Brazil is the second -largest graphite-producing region in the world with more than 80
years of continuous mining. Santa Cruz has at -surface mineralization in friable materials, and successful large -
scale pilot-plant testing (> 30t) has been completed. The results of the testing show that approximately 65% of
Cg concentrate is +80 mesh with good recoveries and 95% -99% Cg. With excellent infrastructure and logistics,
South Star is fully funded for Phase 1, and the 12 -month construction and commissioning are underway. Santa
Cruz will be the first new graphite production in the Americas since 1996 with Phase 1 commercial production
projected in Q4 2023. Phase 2 production (25,000 tpa) is partially funded and planned for 2026, w hile Phase 3
(50,000 tpa) is scheduled for 2028.
South Star’s second project in the development pipeline is strategically located in Alabama in the center of a
developing electric vehicle, aerospace, and defense hub in the southeastern United States. The BamaStar Project
is a historic mine active during World Wars I & II. A NI43-101 technical report with the maiden resource estimate
has been filed on S EDAR. Trenching, phase 1 drilling, sampling, analysis, and preliminary metallurgic al testing
have been completed. The testing indicates a traditional crush/grind/flotation concentration circuit that achieved
grades of approximately 9 4-97% Cg with approximately 86% recoveries. South Star is executing on its plan to
create a multi -asset, diversified battery metals company with near -term operations in strategic jurisdictions.
South Star trades on the TSX Venture Exchange under the symbol STS, and on the OTCQB under the symbol STSBF.
South Star is committed to a corporate culture, project execution plan and safe operations that embrace the
highest standards of ESG principles based on transparency, stakeholder engagement, ongoing education , and
stewardship. To learn more, please visit the Company website at http://www.southstarbatterymetals.com.
This news release has been reviewed and approved by Richard Pearce, P.E., a “Qualified Person” under National
Instrument 43-101 and President and CEO of South Star Battery Metals Corp.
On behalf of the Board,
MR. RICHARD PEARCE
Chief Executive Officer
For additional information, please contact:
{00030678:1}
South Star Investor Relations
Email: [email protected]
+1 (604) 706-0212
Twitter: https://twitter.com/southstarbm
Facebook: https://www.facebook.com/southstarbatterymetals
LinkedIn: https://www.linkedin.com/company/southstarbatterymetals/
YouTube: South Star Battery Metals – YouTube
CAUTIONARY STATEMENT
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
FORWARD-LOOKING INFORMATION
This press release contains “forward-looking statements” within the meaning of applicable securities legislation.
Forward-looking statements relate to information that is based on assumptions of management, forecasts of
future results, and estimates of amounts not yet determinable. Any statements that express p redictions,
expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not
statements of historical fact and may be “forward-looking statements”. Forward-looking statements in this press
release include, but are not limited to, statements regarding, moving Santa Cruz into production and scaling
operations as well as advancing the Alabama project; and the Company’s plans and expectations.
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or
results to differ from those reflected in the forward-looking statements, including, without limitation: risks related
to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of
legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the
maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for
delays in exploration or development activities or the completion of feasibility studies; the uncertainty of
profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity
of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential
for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future
exploration, development or mining results will not be consistent with the Company's expectations; risks related
to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties
and business det ailed elsewhere in the Company's disclosure record. Should one or more of these risks and
uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially
from those described in forward-looking statements. Investors are cautioned against attributing undue certainty
to forward -looking statements. These forward -looking statements are made as of the date hereof and the
Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual
events or results could differ materially from the Company's expectations or projections.