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    GEMC   CA37890Y3086

GLOBAL ENERGY METALS CORPORATION

(GEMC)
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Global Energy Metals : Announces Drilling Results at Millennium North Identifies Significant Shallow Oxide Copper Intercepts and Sulphides to 1.5%, Review Underway at Millennium Central and South

09/24/2021 | 08:32am EST

Vancouver - Global Energy Metals Corporation (TSXV: GEMC) | (OTC: GBLEF) | (FSE: 5GE1) ('Global Energy Metals', the 'Company' and/or 'GEMC'), a company involved in investment exposure to the battery metals supply chain, is pleased to advise that its partner, Metal Bank Limited ('MBK') has completed full assay results from the initial RC drilling program at the Millennium copper, cobalt and gold project near Mt Isa, Queensland ('Millennium Project') have now been received.

This follows previous high grade Cu-Co-Au results returned from the initial two holes into the Central Area.

Commenting on the findings at Millennium, Mitchell Smith, GEMC President and CEO said: 'The expansion of the Millenmium footprint to the north compliments the recent findings presented to the market in early September with the results validating our belief that there is a high potential to substantially increase the Resource at Millennium. They also highlight the high-grade nature of the project and the near-surface potential of the mineralization. We believe the trends seen from current and past exploration to be very promising and further support our strategy of advancing scalable high-grade battery metal projects through a partnership model.'

Also commenting on the exploration work, Ines Scotland, BMK Chair said: 'Our northern extension drilling has opened up scope for additional resources at Millennium North providing us with further confidence in the expansion potential of this Project over and above the expansion of the existing Resource. We are now evaluating potential to update that Resource and planning further extension test work for the existing Resource area and the Northern Area.'

The Millennium Project is an advanced exploration and development project located in the Mount Isa region on northwest Queensland, 19km from the Rocklands copper-cobalt processing facility. The Millennium Project holds a 2012 JORC-compliant Inferred Resource of 5.9MT @ 1.08% CuEq1 across 5 granted Mining Leases with significant potential for expansion, all proximal to processing solutions and excellent infrastructure in the Mount Isa region.

MBK has an exclusive 6 month option over the Millennium Project under its agreement with Global Energy Metals and its wholly owned subsidiary, Element Minerals Australia Pty Ltd. At the end of the option period, MBK will have the right to commence a formal earn-in to earn up to an 80% interest in the Project.

Commenting on the findings at Millennium, Mitchell Smith, GEMC President and CEO said: 'The expansion of the Millenmium footprint to the north compliments the recent findings presented to the market in early September with the results validating our belief that there is a high potential to substantially increase the Resource at Millennium. They also highlight the high-grade nature of the project and the near-surface potential of the mineralization. We believe the trends seen from current and past exploration to be very promising and further support our strategy of advancing scalable high-grade battery metal projects through a partnership model.'

Also commenting on the exploration work, Ines Scotland, BMK Chair said: 'Our northern extension drilling has opened up scope for additional resources at Millennium North providing us with further confidence in the expansion potential of this Project over and above the expansion of the existing Resource. We are now evaluating potential to update that Resource and planning further extension test work for the existing Resource area and the Northern Area.'

The Millennium Project is an advanced exploration and development project located in the Mount Isa region on northwest Queensland, 19km from the Rocklands copper-cobalt processing facility. The Millennium Project holds a 2012 JORC-compliant Inferred Resource of 5.9MT @ 1.08% CuEq1 across 5 granted Mining Leases with significant potential for expansion, all proximal to processing solutions and excellent infrastructure in the Mount Isa region.

MBK has an exclusive 6 month option over the Millennium Project under its agreement with Global Energy Metals and its wholly owned subsidiary, Element Minerals Australia Pty Ltd. At the end of the option period, MBK will have the right to commence a formal earn-in to earn up to an 80% interest in the Project.

Millennium Drilling Program

The Millennium drilling program commenced 11 August 2021 in the Southern Area, with two reverse circulation (RC) holes for 195m (MI21RC01-02) aimed at testing resource gaps and low confidence zones as part of Resource validation work.

A further 5 RC holes for 478m (MI21RC03-07) were completed in the Northern Area testing potential for mineralisation extensions in the northern part of the Project area as indicated by previous mapping, geochemistry and structural interpretation.

Southern Area Previous Drilling

GEMC conducted a 10-hole, 1,141 metre drilling campaign on the Millennium Project during 2017 and 2018 to test the up-dip continuity at the Millennium North deposit and confirm historical estimates of cobalt mineralisation reported in 2016 by Hammer Metals.3 GEMC were successful in both duplicating historical results, demonstrating the continuity of mineralisation within the mineralised zone and in determining mineralisation continues to depth4, including 28m @0.35% Cu and 0.2% Co (MIRC026). Significantly, cobalt and copper mineralisation was encountered along the entire targeted 1500 metre strike length with the zones remaining open in all directions.5

Prior the GEMC's involvement, the project area had been tested by only 73 drill holes (percussion, RC and diamond) for a total of 7,891 metres. Most holes have been drilled within 200 metres of surface, with few holes reaching to depths greater than 250 metres below surface. At present mineralisation remains open at depth and along the strike extent of the JORC resource area.6

Further Work

Pending outcomes from the Resource review and scoping work, in light of the encouraging copper results in the Northern Area further work is underway to extend the basement mineralisation, define high grade target zones and understand mineralisation relationships with the adjacent Quamby/Pilgrim Fault system. Work will also seek to determine the metal zonation aspects noted between the Northern and Central/Southern Areas.

Global Energy Metals Corporation

Global Energy Metals Corp. offers investment exposure to the growing rechargeable battery and electric vehicle market by building a diversified global portfolio of exploration and growth-stage battery mineral assets.

Global Energy Metals recognizes that the proliferation and growth of the electrified economy in the coming decades is underpinned by the availability of battery metals, including cobalt, nickel, copper, lithium and other raw materials. To be part of the solution and respond to this electrification movement, Global Energy Metals has taken a 'consolidate, partner and invest' approach and in doing so have assembled and are advancing a portfolio of strategically significant investments in battery metal resources.

As demonstrated with the Company's current copper, nickel and cobalt projects in Canada, Australia, Norway and the United States, GEMC is investing-in, exploring and developing prospective, scaleable assets in established mining and processing jurisdictions in close proximity to end-use markets. Global Energy Metals is targeting projects with low logistics and processing risks, so that they can be fast tracked to enter the supply chain in this cycle. The Company is also collaborating with industry peers to strengthen its exposure to these critical commodities and the associated technologies required for a cleaner future.

Securing exposure to these critical minerals powering the eMobility revolution is a generational investment opportunity. Global Energy Metals believe the the time to be part of this electrification movement.

Contact:

Tel: + 1 (604) 688-4219

Email: info@globalenergymetals.com

Web: www.globalenergymetals.com

Cautionary Statement on Forward-Looking Information

Certain information in this release may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with regulatory approvals and timelines. Although Global Energy Metals 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.

GEMC's operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.

(C) 2021 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
GLOBAL ENERGY METALS CORPORATION 0.00% 0.23 Delayed Quote.-23.33%
METAL BANK LIMITED 12.50% 0.009 End-of-day quote.-24.99%
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Financials
Sales 2021 - - -
Net income 2021 -1,08 M -0,85 M -0,85 M
Net cash 2021 0,93 M 0,73 M 0,73 M
P/E ratio 2021 -4,09x
Yield 2021 -
Capitalization 6,23 M 4,87 M 4,90 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees -
Free-Float -
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Managers and Directors
Mitchell Smith President, Chief Executive Officer & Director
Luis Hadic Chief Financial Officer
Peter John Reynolds Independent Director
Gaston Reymenants Independent Director
Paul Thomson Sarjeant Director & GM-North American Operations