Global Battery Metals Clarifies News Release
Receives Right-of-Entry Permit for Lithium King Property
Vancouver, March 28, 2022 - Global Battery Metals Ltd. (TSXV: GBML) (OTCQB: REZZF) (FSE: REZ) (the "Company" or "GBML") provides clarification of certain information contained in its previously disseminated news release of March 24, 2022, wherein the Company announced that it had received a drill permit ("Drill Permit") on its 100% owned Lithium King property ("Lithium King Property" or the "Property") in Utah.
The Company wishes to retract disclosure regarding the receipt of the Drill Permit. The Company is pleased to announce that it has received Right-of-Entry land access permit ("Land Access Permit") for the Property and that the Drill Permit is pending.
The Company will continue to engage with drilling companies to determine the most efficient way to drill and sample the brines for the initial target on the Lithium King Property in anticipation of receiving the Drill Permit.
Lithium King Property Description
The Lithium King Property is located on the west side of the Great Salt Lake Basin in western Utah, adjacent to the community of Wendover, Utah. The land position consists of approximately 1,760 acres of placer claims. The Property has the potential to host a lithium and magnesium brine deposit in an existing mineral producing location in a mining-friendly state (see the Company news release on March 4, 2021, for a detailed review of the project).
Figure 1. Lithium King Property
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Qualified Person
The scientific and technical information in this news release has been reviewed and approved by William R. Henkle, Jr., a "Qualified Person" within the meaning of National Instrument 43-101.
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 five 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; (3) an option to acquire up to a 100% interest in the Lapoile lithium project in Newfoundland; (4) an option to lease the Sawyer Camp prospective nickel-copper project in Michigan; and (5) 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 (the "Lara Property Option Agreement") with GBML and Lara Exploration Ltd. to acquire the Lara copper property for staged payments of USD$5.75 million. The Lara Property Option Agreement also provides for a 0.75% net smelter royalty in favour of GBML.
Michael Murphy BA, MBA, MSc., ICD
President & CEO
T: 604-649-2350
E: MM@gbml.ca
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 Statement Regarding "Forward-Looking" Information
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operations and activities of the Company, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the Company's anticipated receipt of the Drill Permit, and exploration plans, including a proposed drill program to be conducted on the Company's Lithium King Property in Utah, United States. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the Company's receipt of the Drill Permit and the timing thereof, the ability to complete proposed exploration work given the global COVID-19 pandemic, the invasion of Ukraine by Russia and other global events, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
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