New Age Metals Completes Inaugural Drill Program for its Lithium Two Project in Manitoba, Canada

December 9, 2021 – The press wire – Rockport, Ontario – New Age Metals Inc. (TSXV: NAM); (OTC: NMTLF); (FSE: P7J2) (“NAM” or “Company”) is pleased to announce the completion of its first 1,630 meter drill program on its Lithium Two project in Manitoba, Canada. To date, 678 drill core samples have been submitted to the Saskatchewan Resource Council Geoanalytical Laboratories (“SRC”) for analysis. This drilling program was the first work program funded by the Company’s partner, Mineral Resources Limited (“MRL”), see press release dated (September 28, 2021).

Harry Barr, Chairman of the Board and Chief Executive Officer, said: “We would like to thank our exploration team at Axiom Exploration Group Ltd. (“Axiom”) for the successful completion of the first Lithium Two drilling program. We look forward to sharing the first results of this very promising project. While we patiently await the analysis results from the SRC, management has asked our exploration team to develop a follow-up exploration program that would include a second phase of drilling at the project, a first drilling at Lithium One and a 2022 field program to monitor potential targets. 2021 geophysical surveys carried out on five of the Company’s projects.

The initial drilling program for the Lithium Two project consisted of 15 drill holes totaling 1,630 meters. The purpose of the initial drill program was to confirm historic drill results from the 1940s Eagle pegmatite drill campaign on the Lithium Two property. In addition, the program was designed to test nearby targets generated from field reconnaissance programs and magnetic geophysical surveys by on-board drones carried out between 2016 and 2021.

Following the completion of the first phase of drilling, the Company applied to the Government of Manitoba for a drilling permit for an additional 1,500 meters of 10-hole drilling at Lithium Two. Future drilling at Lithium Two will test the down-dip extension of lithium-containing pegmatites near the surface in this first phase of drilling and, in addition, assess other areas of interest at Lithium Two.

The drilling program focused on the Eagle pegmatite which was the source of the historical non-NI 43-101 resource estimate of 544,000 tonnes at 1.4% Li20 shown at a depth of 61 meters. The Eagle pegmatite is exposed at surface along a strike strike length of 533 meters as a series of lenticular spodumene dykes that occur in units of granite (Precambrian) and metavolcanic rocks. The 10 largest of these pegmatite bodies are a series of stepped lenses that measure up to 75 meters in length and 9 meters in width exposed at the surface (Rowe, 1956). Historical drill results suggest that the dykes tilt 80 ° north to almost vertical.

Ten drill holes were completed along the strike of the Eagle pegmatite with the goal of intersecting the pegmatite dykes at a vertical depth of 40 to 50 meters below surface. Two holes were drilled to test the extension of promising areas between 80 and 100 meters of vertical depth. Additionally, three drill holes tested nearby pegmatites, including pegmatite FD 5 and unnamed pegmatite, which exhibit lenses of surface mineralization. The test results are expected to be released in late December or early January.

Prior to the drilling program, an archaeological assessment was carried out by White Spruce Archeology on the Lithium Two project which identified three areas of potential archaeological significance. Thus, drilling activities will take place outside a 25 meter buffer zone around the identified areas and all drilling tracks will remain outside the identified areas. The recommendations for the Lithium Two project have been reviewed and accepted by the Archaeological Assessment Services Unit, Directorate of Historic Resources, Ministry of Sports, Culture and Heritage.

The Company is now planning with its geology consultants Axiom and MRL the next exploration steps on its portfolio of projects. To this end, the Lithium One project is probably the next drilling target for which the Company already holds a drilling license. In addition, a work program is designed for 2022 to mobilize a field team in specific areas of geophysical interest that have been identified from the 2021 geophysical surveys carried out on site (see the company’s press release dated May 19, 2021).

Lithium Two Project

The Lithium Two project covers 137 hectares and is located approximately 20 kilometers north of the Tanco mine, owned and operated by Sinomine Rare Metals Co.

Lithium Two is geologically located in the Cat Lake portion of the Winnipeg River pegmatite field and is accessible by road. This pegmatite field is hosted by the Archean Bird River greenstone belt and surrounding granites. To date, three significant pegmatites have been identified on the Lithium Two project.

Eagle’s pegmatite is exposed at surface as a series of lenticular spodumene dykes, over approximately 823 meters with widths of up to 30 meters. The Eagle pegmatite has a general direction of 77 ° and an almost vertical dip. Pegmatite FD No. 5 is surface exposed over an area of ​​27 meters by 15 meters and is weakly exposed away from the main showing. The unit strikes at 80 ° with an almost vertical dip to the north. Pegmatite FD n ° 5 seems not to have been tested beforehand by drilling. Surface sampling on the two pegmatites during the 2016 field season yielded analyzes for Eagle pegmatite up to 2.44% Li2O and dosages up to 3.04% Li2O for pegmatite FD n ° 5.

About NAM

New Age Metals is a junior mining 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 Metals division and a Lithium / Rare Elements division.

The PGM division includes the 100% owned, multi-million ounce district-wide River Valley project, one of the largest undeveloped Platinum Group metals projects in North America, located at 100 km by road east of Sudbury, Ontario. The Company completed a positive preliminary economic assessment on the project in 2019 and is fully funded to complete a pre-feasibility study on the project in 2022. In addition to River Valley, the company owns 100% of the Genesis PGM-Cu-Ni project in Alaska and plans to complete a surface mapping and sampling program in 2022.

The Lithium Division is one of the largest holders of mining claims in the Winnipeg River pegmatite field, where the company explores for hard rock lithium and various rare elements such as tantalum and rubidium. Plans for 2021 include drone geophysics on at least five of the company’s seven projects and an initial drilling program on the company’s Lithium Two project. On September 28, the Company announced a partnership with Mineral Resource Limited (MRL, ASX: MIN), the world’s fifth largest lithium producer to explore and develop the Company’s lithium project portfolio.

Our philosophy is to be a generator of projects with the objective of opting for our projects with major and junior mining companies up to production. The Company is actively seeking an option / joint venture partner for its road-accessible Genesis PGM-Cu-Ni project in Alaska.

Investors are encouraged to visit the New Age Metals website at www.newagemetals.com where they can review the business and its corporate activities. Any questions or comments can be addressed to This e-mail address is protected from spam. You need JavaScript enabled to view it. or Harry Barr at This e-mail address is protected from spam. You need JavaScript enabled to view it. or Cody Hunt at This e-mail address is protected from spam. You need JavaScript enabled to view it. or call 613 659 2773.

Qualified person

This first drilling and exploration program in 2021 is being carried out under the supervision of Lynde Guillaume, GIT and Matthew Schwab, P.Geo., Both of Axiom Exploration Group Ltd.

An extensive chain of custody and QA / QC program is underway during the 2020 drill program on all samples split into half cores. The QA / QC procedures implemented will include the insertion of certified standard control samples, duplicates and blanks to ensure proper calibration of laboratory equipment. Sample analyzes are performed by the SRC Geoanalytical Laboratories in Saskatoon, Saskatchewan.

The technical information contained in this press release has been reviewed and approved by Matthew Schwab, P.Geo. (Senior Vice-President, Axiom), who is a “qualified person” for the Company within the meaning of National Instrument 43-101 – Disclosure Standards for Mining Projects (“Regulation 43-101”).

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On behalf of the board of directors

Harry Barr “

Harry g barr

President 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. Caution Regarding Forward-Looking Statements: This press 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. To this end, statements of historical fact may be considered 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”, “trust”, “have the intention “,” strategy “,” “plan”, “will”, “estimate”, “project”, “objective”, “target”, “outlook”, “optimistic” or similar expressions. 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 continued efforts to make it available on time and completely up-to-date adequate public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors that may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports which identify material risk factors that could cause actual results to differ from those contained in forward-looking statements. The Company assumes no obligation to review or confirm analysts’ expectations or estimates or to publicly issue revisions to forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of events. unforeseen. Investors should not place undue reliance on forward-looking statements.


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