Global Energy Metals Corp. Announces First Option Payment for Nevada Cobalt Projects
Begins Exploration Program Planning to Better Understand Project Potential for Cobalt, Nickel and CopperVancouver, March 26, 2019 - Global Energy Metals Corp. TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 ("Global Energy Metals", the "Company" and/or "GEMC") is pleased to announce that the Company has made its first option payment, as part of the agreement with Nevada Sunrise Gold Corp., to acquire an 85% interest in the Lovelock Cobalt Mine, under-explored for its high-grade cobalt-nickel-copper potential, and the adjacent Treasure Box Project (refer to January 21, 2019 news release). GEMC has issued 384,627 common shares of the Company to Nevada Sunrise and paid USD$20,000 to the underlying vendor.
Additionally, the Company is also pleased to announce that it is reviewing exploration plans for both of the properties located in Churchill County, approximately 150 kilometres east of the Tesla Gigafactory in Sparks, Nevada.
The program will assist with an ongoing extensive review and reinterpretation of historic data.
"There has been a tremendous amount of attention placed on the US for it to stop being merely a bystander in the global battery arms race and start developing more domestic supplies of battery metals such as cobalt, nickel and copper to supply its homegrown battery factories, including Nevada-based Gigafactory 1," commented Mitchell Smith, Director & CEO. The Lovelock and Treasure Box projects are prime examples of US based battery metal projects that are very prospective and strategically located in close proximity to a domestic end-user with a large appetite for the critical materials used in EV and energy storage technology."
Qualified Person
Mr. Paul Sarjeant, P. Geo., the Company's QP and Director, is the qualified person for this release as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects and has reviewed and verified the technical information contained herein.
Global Energy Metals Corporation
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals is focused on offering security of supply of cobalt, a critical material to the growing rechargeable battery market, by building a diversified global portfolio of cobalt assets including project stakes, projects and other supply sources. GEMC anticipates growing its business by acquiring project stakes in battery metals related projects with key strategic partners. Global Energy Metals currently owns 70% of the Werner Lake Cobalt Mine in Ontario, Canada and has entered into an agreement to acquire 100% of the Millennium Cobalt Project and two neighbouring discovery stage exploration-stage cobalt assets in Mt. Isa, Australia
For Further Information:
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Email: info@globalenergymetals.com
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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. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. For more information on Global Energy and the risks and challenges of their businesses, investors should review the filings that are available at www.sedar.com.
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