Vancouver - Global Battery Metals Ltd. (TSX-V: GBML, Frankfurt: REZ, OTCQB: REZZF) (the 'Company' or 'GBML') is pleased to announce that it has entered into an option agreement with Kevin Keats and Allan Keats to acquire up to a 100% interest in the Lapoile Lithium Project in Newfoundland.
The Lapoile lithium property (the 'Property') consists of 320 claims encompassing 8,000 hectares in southwestern Newfoundland, approximately 35 kilometres from the Golden Hope property jointly held by Sokoman Minerals Corp. and Benton Resources Inc., which recently announced several economic grab samples above 2% Li2O. Of the 35 samples reported from the Golden Hope Joint Venture Project, 11 gave values greater than 1% Li2O with three greater than 2% Li2O and a high of 2.37% Li2O. Historical till sampling has also indicated the existence of lithium showings.
Michael Murphy, President and CEO, commented 'We are excited to add the Lapoile Lithium Project to our growing battery metals portfolio. This is now our second lithium property acquisition option, to go along with the acquired Lithium King property. We look forward to continuing to add prospective projects as we create shareholder value by participating in the battery revolution.'
About Global Battery Metals Ltd.
GBML is a mineral exploration company with a focus on metals that make up and support the rapid evolution to battery power. GBML's common shares are listed on the TSX Venture Exchange and Frankfurt Stock Exchange and quoted on the OTCQB. GBML currently has three projects: (1) an option to acquire up to a 90% in the North-West Leinster lithium property in Ireland, (2) a 100% interest in the Lithium King property in Utah, and (3) a 55% stake in Peru-based Lara copper property, which has over 10,000 metres of drilling. As previously disclosed, Minsur S.A., a Peruvian mining company, entered into an option agreement with GBML and Lara Exploration Ltd. to acquire the Lara copper property for staged payments of USD$5.75 million. GBML will retain a 0.75% net smelter royalty.
Contact:
Michael Murphy BA
Tel: 604-649-2350
Email: MM@gbml.ca
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking information in this press release includes, but is not limited to, statements about the Lapoile lithium property, including the potential acquisition thereof, the lithium potential of the Property, the proposed work program, and acceptance by the TSX Venture Exchange. In certain cases, forward-looking information may be identified by such terms as 'anticipates', 'believes', 'could', 'estimates', 'expects', 'may', 'shall', 'will', or 'would'. These forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond the control of the Company, including, but not limited to, impacts arising from the global disruption caused by the Covid-19 coronavirus outbreak, fluctuations in general macroeconomic conditions, availability of financing, the potential for gold and/or lithium at any of the Company's properties, the prospective nature of any claims comprising the Company's property interests, industry conditions, dependence upon regulatory approvals, and uncertainty of sample results, timing and results of future exploration. Please refer to the Company's MD&A for the year ended April 30, 2021, and other disclosure documents filed under its profile on SEDAR for other risks that could materially affect the Company. These and other factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking information. The Company does not undertake to update any forward-looking information that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
GLOBAL BATTERY METALS LTD. 