New Age Metals Participates in University of Manitoba Sustainable Mineral Exploration Grant for $1.5 Million

Critical metals, including lithium, nickel and platinum group elements (PGEs) and other strategically important minerals play a vital role in various high-tech industries, from renewable energy to electronics manufacturing and contribute to the provincial economy. However, their extraction and processing pose unique challenges, including environmental concerns and supply chain vulnerabilities.

UM researchers, Dr. Mostafa Fayek and Dr. Alfredo Camacho, in collaboration with Lakehead University researcher and NOHFC Industrial Research Chair in Mineral Exploration Dr. Peter Hollings, and industry partners New Age Metals, and Grid Metals Corp., will use the funding to address key issues related to critical metals exploration and extraction. Through cutting-edge research and collaboration industry and academic partners also want to prioritize engaging Indigenous communities in innovative technologies and sustainable practice research.

"Our research will promote and strengthen existing links with international researchers, generating knowledge transfer to strengthen Manitoba's position as a leader in critical metals research and innovation," said Dr. Fayek, Distinguished Professor at the University of Manitoba. "Indigenous peoples are underrepresented in STEM fields in general, and our project seeks to remove barriers and directly engage Indigenous peoples in exploration. This investment underscores the importance of collaboration between academia, industry, and Indigenous stakeholders to drive innovation and economic growth."


The project will focus on several key objectives, including:

1. Advancing exploration techniques to identify new critical metals deposits in Manitoba

2. Training the next generation of geologists in critical metals research

3. Developing environmentally responsible exploration methods

4. Facilitating knowledge transfer and workforce development to support the growth of Manitoba's Indigenous communities.

"By harnessing the collective expertise of academia, industry, and government, we can address the complex challenges facing the critical minerals industry and create sustainable solutions for the future," said Harry Barr, Chairman & CEO at New Age Metals

For more information about the University of Manitoba's critical metals research initiative, please visit emacmanitoba.com.

About the University of Manitoba:

The University of Manitoba is recognized as Western Canada's first university, with more than 29,000 students, 5,000 academic staff, 3,900 support staff and more than 188,000 alumni. It is part of the U15, ranking among Canada's top research-intensive universities and is Manitoba's only medical-doctoral post-secondary institution. The University provides exceptional liberal arts, science and professional programs of study, inspiring undergraduate and post-graduate students to positively impact their communities as globally engaged citizens. UM campuses are located on the original lands of Anishinaabeg, Ininiwak, Anisininewuk, Dakota Oyate and Dene, and on the National Homeland of the Red River Métis. We respect the Treaties that were made on these territories, we acknowledge the harms and mistakes of the past, and we dedicate ourselves to move forward in partnership with Indigenous communities in a spirit of Reconciliation and collaboration. For more information, please visit umanitoba.ca.

About Lakehead University:

Lakehead University is a fully comprehensive university with approximately 9,700 full-time equivalent students and over 2,000 faculty and staff at two campuses in Orillia and Thunder Bay. Lakehead has nine faculties, including Business Administration, Education, Engineering, Graduate Studies, Health & Behavioural Sciences, Law, Natural Resources Management, Science & Environmental Studies, and Social Sciences & Humanities. Lakehead University's achievements have been recognized nationally and internationally, including being ranked in the 2023 Times Higher Education World Universities Rankings and THE's 2023 Impact Rankings (which assesses institutions against the United Nations' 17 Sustainable Development Goals). Visit lakeheadu.ca.

About Grid Metals Corp.:

Grid Metals is focused on both lithium and copper/nickel projects in the Bird River area, approximately 150 km northeast of Winnipeg Manitoba. The Donner Lake lithium project is a 75% owned property subject to a joint venture agreement. Grid has a lease agreement on the True North mill where it plans to process feed from Donner Lake. Grid also has an MOU with Tantalum Mining Corporation of Canada Limited who operates the nearby producing Tanco Mine. The Makwa Mayville copper/nickel project is a resource-stage project that is undergoing exploration and development work in the Bird River greenstone belt. For more information, please visit gridmetalscorp.com.

About NAM

New Age Metals is a junior mineral exploration and development company focused on the discovery, exploration, and development of green metal projects in North America. The Company has two divisions: a Platinum Group Element division and a Lithium/Rare Element division.

The PGE Division includes the 100% owned, multi-million-ounce, district-scale River Valley Project, one of North America's largest undeveloped Platinum Group Element Projects, situated 100 km by road east of Sudbury, Ontario. In addition to River Valley, NAM owns 100% of the Genesis PGE-Cu-Ni Project in Alaska and plans to complete a surface mapping and sampling program in 2023.

The Company's Lithium Division is one of the largest mineral claim holders in the Winnipeg River Pegmatite Field, where the Company is exploring for hard rock lithium and various rare elements such as tantalum, rubidium, and cesium. Exploration for 2024 includes 12,500 meters of diamond drilling following up on the anomalous results from the geochemical samples collected during summer 2023 and geophysical/structural interpretation. The Company has a partnership with Mineral Resource Limited (MRL, ASX: MIN), a top global lithium producer to explore and develop the Company's lithium project portfolio in Southern Manitoba. Our philosophy is to be a project generator with the objective of optioning our projects with major and junior mining companies through to production.

The Company is actively seeking an option/joint venture partner for our newly acquired Northman and South Bay Lithium Projects in northern Manitoba, and its road-accessible Genesis PGE-Cu-Ni Project in Alaska.

Investors are invited to visit the New Age Metals website at www.newagemetals.com where they can review the company and its corporate activities. Any questions or comments can be directed to info@newagemetals.com or Harry Barr at Hbarr@newagemetals.com or Farid Mammadov at faridm@newagemetals.com or call 613 659 2773.

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On behalf of the Board of Directors

"Harry Barr"

Harry G. Barr

Chairman and CEO

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. Cautionary Note Regarding Forward Looking Statements: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as "continue", "efforts", "expect", "believe", "anticipate", "confident", "intend", "strategy", "plan", "will", "estimate", "project", "goal", "target", "prospects", "optimistic" or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company's ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.

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