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St-Georges Eco-Mining $SX.ca $SXOOF: First Hole Completed at Thor Gold Project $NNX.ca $OM.ca $ICM.ca

Posted by AGORACOM-JC at 9:10 AM on Tuesday, September 15th, 2020
  • Completed its first reverse circulation drill hole at the Thor project in the vicinity of Reykjavik in Iceland
  • The hole was positioned to test a previous surface sample that assayed 37.4 g/t gold and 69.3 g/t silver
  • The hole was successfully ended at 124 meters

Reykjavik – September 15, 2020 – St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) is pleased to disclose that it has completed its first reverse circulation drill hole at the Thor project in the vicinity of Reykjavik in Iceland. The hole was positioned to test a previous surface sample that assayed 37.4 g/t gold and 69.3 g/t silver. The hole was successfully ended at 124 meters.

The exploration team lead by Pr Helen Salmon and supported by Herb Duerr and lead field geologist Gary McLearn, had identified earlier in August a new target zone outside the historically explored area following the grab sample results from sample 008 that yielded 69.3 g/t silver, 0.216% Copper & 37.4 g/t Gold. (See Company’s Press Release from August 21, 2020).

Because of high grades in past mining and the presence of visible gold in past work, a decision to sample the hole on 30 cm intervals was made by management. Our contract geologist may have observed visible grains of gold and possible accessory silver minerals near the bottom of the hole. As such, management has decided to do a standard 50 assay ton fire assay with atomic absorption finish for both gold and silver. Any samples assaying over 0.8 g/t gold will be automatically reassayed. If the samples are inconsistent, the lab will be instructed to do metal screening for particulate gold on reject material.

The current surface exploration campaign conducted one drill hole via reverse circulation using a standard hammer drill bit of 5.5 inches (~14 cm) in size. The drilling was conducted under the constant supervision of the Company’s field geologist, and all the material of every 30cm of depth was collected in plastic buckets sealed, identified with a code, and carried to St-Georges’ secure warehousing facilities in Reykjavik. From there, the geologists will prepare a representative sample for every bucket. Based on the visual analysis conducted while logging the material so far, the Company expects to send over 400 samples to be assayed to ALS Global Laboratories (ISO/IEC 17025 accredited) in Loughrea, Ireland. The Company intends to request a rush treatment for the assay of these samples.

The hole completed went from surface to a depth of 124 meters on an azimuth of 110 degrees. The drill rig cased the hole to 2 meters depth encountering approximately 1.5 meters of overburden at the surface. The mineralization encountered is compatible with the type often favorable for gold on the Thor project consisting of quartz veining adjacent to basalt with apparent abundant pyrite and accessory sulphides. Visible gold and silver may have been identified in the field by the Company’s field geologist. These sections are still being logged and sampled and prepared to be sent to the laboratory. See Figures 1, 2 & 3.


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Figure 1. Mineralization floating on top of drilling mud


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Figure 2. Mineralization from quartz veining

Figure 3. Mineralization close up from Fig. 2

St-Georges’ President & CEO, Vilhjalmur Thor Vilhjalmsson, commented: “(…) We are encouraged by the current pace of the exploration work on the Thor Gold Project. The team has worked with the constraints of the COVID-19 quarantine and additional precautions imposed by the new government regulations, and still ended-up delivering within the aggressive target dates we had put forward (…) We are particularly pleased with the field team led by Gary. We have given the team much leeway and trusted their professional expertise. Gary took a bold decision in choosing an underexplored location for the only deeper drill hole we were authorized for to date under our agreement with Melmis. For what we know so far, it was worth the risk (…) we expect to close the transaction with Melmis this month, and we will keep the drilling contractor busy for the foreseeable future on the Thor Gold Project (…)”.

About Thor Gold

The Thormodsdalur Gold Project is located about 20km east of the city center of Reykjavik and south-east of the Lake Hafravatn. The project was discovered in 1908. The property produced a gold concentrate from 1911 to 1925, which shipped to Germany for processing. Over 300 meters of tunnels explored and mined one or more quartz veins and wall rock below open cuts at the surface.

Studies between 1996 and 2013 identified the project mineralization as a low sulfidation system hosted by basic to intermediate flows of Pliocene to Miocene age. The host contains banded chalcedony and ginguro within a fault zone up to 5 meters in width. To date, the identified gold trend has a known strike length of 700 meters determined by drill intercepts. Petrographic analysis of the vein material identified gold occurring in its free form and as part of an assemblage with pyrite and chalcopyrite. Petrographic and XRD studies show an evolution of the vein system from the zeolite assemblage to quartz-adularia and lastly, to minor calcite.

Thirty-two holes have been drilled within the license area, for a total of 2439 meters. Gold values vary from less than 0.5 g/t to a maximum of 415 g/t. (These values were obtained from selected random intervals and cannot be construed to be representative of any particular thickness or overall length.) Historically, the best intercepts from the diamond drilling are 33.5m of 8.0 g/t Au (true thickness) and 5.2m of 35.4 g/t Au (true thickness).

Gary McLearn, A professional geoscientist (Ontario APGO #2900) and an Independent Qualified Person as defined by National Instrument 43-101, has prepared, supervised the preparation or approved the scientific and technical disclosure in the news release.

ON BEHALF OF THE BOARD OF DIRECTORS

“Vilhjalmur Thor Vilhjalmsson”

Vilhjalmur Thor Vilhjalmsson

President and CEO

About St-Georges

St-Georges is developing new technologies to solve some of the most common environmental problems in the mining industry.

The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

New Age Metals $NAM.ca Initiates 2020 Lithium Division Work Program $LIC.ca $LIX.ca $LI.ca $ELR.ca $ATL.ca

Posted by AGORACOM-JC at 8:55 AM on Thursday, August 27th, 2020
  • NAM owns 100% of eight pegmatite hosted Lithium Projects in the Winnipeg River Pegmatite Field, located in SE Manitoba
  • The eight projects are strategically situated within the Winnipeg River Pegmatite Field, which hosts the world class Tanco Pegmatite that has been mined for Tantalum, Cesium and Spodumene (one of the primary Lithium bearing minerals) in varying capacities, since 1969
  • The summer program is being jointly funded by the Company and the new Manitoba Mineral Development Fund (MMDF) from the Manitoba Chamber of Commerce
  • The 2020 field work program will focus on follow up exploration of the company’s 2018 field reconnaissance efforts on the Lithium One Project, specifically at the Silverleaf and Annie pegmatites.
  • 2018 surface exploration completed on the Lithium One project yielded field samples grading up to 4.1% Li2O and 6.11% Rb2OThe Company has an exploration agreement in place with the Sagkeeng First Nation who the Company has engaged to work collaboratively with on completing the summer 2020 program at Lithium One
  • NAMs flagship project is the 100% owned River Valley Palladium Project, one of North America’s largest undeveloped primary Palladium Project

August 27, 2020 – Rockport, Canada – New Age Metals Inc. (NAM) (TSXV:NAM); (OTC:NMTLF); (FSE:P7J) (“NAM” or the “Company”) is pleased to announce the approval of a fall 2020 work program at the Company’s Lithium One Project in South east Manitoba, which is slated to begin this fall. Harry Barr, Chairman & CEO stated; “Over the last few months the Company has applied for and received approval for a grant from the Manitoba Mineral Development Fund. An extra benefit will be gained from the COVID-19 relief measures offered by the Manitoba government which calls for extending Double-Assessment Credits for exploration work completed in 2020.”

Lithium One Work Program

The fall 2020 program will include rock sampling, mapping and prospecting at the Company’s Lithium One project in the Greer Lake region. The objective of the program is to surface sample areas that have not been looked at to date at the project and further outline future drill targets. NAM plans to contract both Carey Galeschuk, the Company’s consulting geologist and the Twohearts Foundation, a Sagkeeng First Nations exploration service company to complete this program.


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Figure 1: NAM Project Location Map – Winnipeg River Pegmatite Field. Lithium One Project is highlighted.

Manitoba Mineral Development Fund

In June 2020, the Manitoba Government opened application to the MMDF which offered $20 million in funding to jump-start mineral and economic development initiatives in the north and throughout the province. The MMDF, delivered and administered by the Manitoba Chambers of Commerce, will support new economic development opportunities that capitalize on existing assets in the north and across Manitoba. Projects funded by MMDF will benefit Manitoba’s economy and local communities alike with a partnership-based approach to help grow and diversify the provincial economy together with Indigenous communities.

Manitoba COVID-19 Relief

The Company is taking advantage of relief measures put in place by the Manitoba government for mineral/mining claim holders in 2020. A one-year extension of time on all mining claims and mineral exploration licenses has been granted for claims and licences expiring prior to April 30, 2021. All of New Age Metals claims are eligible for this extension. Furthermore, the Manitoba Agriculture and Resource Development Department has extended double-assessment credits for exploration work completed in 2020. Both of these relief measures will assist the company in maintaining its land position in the Winnipeg River Pegmatite Field and the work completed at Lithium One will provide extended work credits for the Company on that project.

Lithium One Project

The project is geologically situated in the southern extension of the Bird River Greenstone Belt. The pegmatites are associated with the Greer Lake and Shatford Lake Pegmatite Group of the Cat Lake – Winnipeg River Pegmatite Field. The Winnipeg River Pegmatite Field hosts the World-Class Tanco Pegmatite which has been mined since 1969 at the Tanco Mine Site, in various capacities and for various commodities. This pegmatite field is hosted in the Archean age Bird River Greenstone Belt and into the surrounding granites.

The Silverleaf Pegmatite was historically mined in the late 1920’s for spodumene and probably represents one of the first spodumene operations in North America. The central, most economic, portion of the pegmatite is composed of lepidolite surrounded by an envelope of spodumene and quartz. The lepidolite zone outcrops as three large masses with lengths and maximum widths as follows: 23 m x 6 m (75 x 20 ft); 12 m x 4 m (40 x 12 ft); 5.5 m x 3 m (18 x 11 ft); it is also found in a westerly cut over a width of 2 m (6.5 ft). Spodumene is known to outcrop over a 334 m2 (3600 sq ft. A quartz-spodumene crystal measuring 91 cm x 17 cm (3 ft x 7 inch) was reported near the core zone back in 1933.

Historic drilling of the Silverleaf Pegmatite from the 1950’s indicated a tabular pegmatite body dipping 30? S and extending 168 m (550 ft), while ranging in thickness from 5 to 11 m over a drilled length of 245 m.

The Company’s Phase One Exploration Program in 2018, sampled several of the known lithium-bearing pegmatites. The purpose of the exploration program was to obtain modern-day assay analyses of the Pegmatites and to ground proof some of the historic Pegmatite locations. Numerous Pegmatites and Pegmatite swarms were not sampled in the 2018 program and will be explored during the 2020 fall program.


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Figure 2: Annie Pegmatite showing an outcrop with abundant SQUI (Spodumene Quartz Intergrowths) mineralization – The pen in the photo is 8 cm in length.

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 Metals division and a Lithium/Rare Element division. The PGM division includes the 100% owned River Valley Project, one of North America’s largest undeveloped Platinum Group Metals Projects, situated 100 km from Sudbury, Ontario as well as the Genesis PGM Project in Alaska. The Lithium division is the largest mineral claim holder in the Winnipeg River Pegmatite Field, where the Company is exploring for hard rock lithium and various rare elements such as tantalum and rubidium. 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 its road-accessible Genesis PGM project in Alaska and for our Lithium division in Manitoba.


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Figure 4: White spodumene blades in a matrix of lepidolite (Lithium Mica) from the Silverleaf showing.

New Age Metals is a junior resource company on the TSX Venture Exchange, trading symbol NAM, OTCQB: NMTLF; FSE: P7J with 138,854,511 shares issued to date. 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 [email protected] or Harry Barr at [email protected] or Cody Hunt at [email protected] or call 613 659 2773.

About the River Valley Palladium Project

The details of the updated Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA) were announced in the press release dated August 9, 2019 and are described on NAM’s website. The pit constrained Updated Mineral Resource Estimate formed the basis of the PEA. At a cut-off grade of 0.35 g/t PdEq, the Updated Mineral Resource Estimate contains 2.867 Moz PdEq in the Measured plus Indicated classifications and 1.059 Moz PdEq in the Inferred classification. The PEA is a preliminary report, but it demonstrates that there are potentially positive economics for a large-scale mining open pit operation, with 14 years of Palladium production. Refer to the NAM website (www.newagemetals.com) for details.

Global Mining Symposium


New Age Metals is pleased to announce that the Company will be participating in next week’s Global Mining Symposium. Harry Barr will be presenting at 2:10 PM EST on Tuesday, September 1. To view details of the event, click here.

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If you have not done so already, we encourage you to sign up on our website (www.newagemetals.com) to receive our updated news.

Qualified Person

The contents contained herein that relate to Exploration Results or Mineral Resources is based on information compiled, reviewed or prepared by Carey Galeschuk, a consulting geoscientist for New Age Metals. Mr. Galeschuk is the Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical content of this news release with regard to technical aspects of the Lithium Division.

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.

Thor Gold Riverbed – St. George Icelandic Gold Exploration Update $SX $SX.ca $SXOOF

Posted by AGORACOM-Eric at 11:23 AM on Monday, August 24th, 2020

St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1)is pleased to release the initial fire assays results from the preliminary surface exploration campaign conducted on the Thor Gold Project in order to prepare this summer’s shallow drilling campaign.

The Company’s exploration team collected grab samples from the dry riverbed on both sides of the river running to the west of the historical work areas (See Fig 1.) A total of eight samples were cut from the outcrops.

Figure 1. Project historical work locations and current targeted area in Red.

All grab samples have shown the presence of gold with assays results ranging from 0.001 g/t to 37.4 g/t.

The grab samples collected from the outcrop are, by nature, selected samples and are not necessarily representative of the mineralization hosted on the property.

Three of the grab samples located between 50 and 150 meters of the historical workings are deemed significant enough to warrant some adjustment to the previously planned shallow drilling grid for this summer’s campaign. These grab samples yielded the following results (Table 1):

 Silver g/tCopper %Gold g/tLead
Sample 0035.9 g/t0.015%11.75 g/tNot significant
Sample 0070.6 g/t0.014%2.47 g/tNot significant
Sample 00869.3 g/t0.216%37.4 g/t4.37%

Table 1. Fire Assays Results

Quality Control

Samples were collected and bagged by the SX geological team and transported in secure bags directly from the site to Iceland Resources’ secured warehouse facilities in Keflavik. From there, two Q/C blank samples were added to the other eight samples, and the batch traveled by plane to ALS Global Laboratories (ISO/IEC 17025 accredited) in Loughrea, Ireland. All samples were tested using four acid trace analysis (ME-ICP61). Samples that yielded precious metals content in excess of 10 ppm were analyzed a second time via gravity separation and fire assay finish.

About Thor Gold

The Thormodsdalur Gold Project is located about 20km east of the city center of Reykjavik and south-east of Lake Hafravatn. The project was discovered in 1908. The property produced a gold concentrate from 1911 to 1925, which was shipped to Germany for processing. Over 300 meters of tunnels explored and mined one or more quartz veins and wall rock below open cuts at the surface.

Studies between 1996 and 2013 identified the project mineralization as a low sulfidation system hosted by basic to intermediate flows of Pliocene to Miocene age. The host contains banded chalcedony and ginguro within a fault zone up to five meters in width. To date, the identified gold trend has a known strike length of 700 meters determined by drill intercepts. Petrographic analysis of the vein material identified gold occurring in its free form and as part of an assemblage with pyrite and chalcopyrite. Petrographic and XRD studies show an evolution of the vein system from the zeolite assemblage to quartz-adularia and, lastly, to minor calcite.

Thirty-two holes have been drilled within the license area, for a total of 2439 meters. Gold values vary from less than 0.5 g/t to a maximum of 415 g/t. (These values were obtained from selected random intervals and cannot be construed to be representative of any particular thickness or overall length.) The best intercepts from the diamond drilling are 33.5m of 8.0 g/t Au (true thickness) and 5.2m of 35.4 g/t Au (true thickness).

Gary McLearn, A professional geoscientist (Ontario APGO #2900) and an Independent Qualified Person as defined by National Instrument 43-101, has prepared and supervised the preparation and has approved the scientific and technical disclosure in the news release.

Mr. Herb Duerr, P. Geo. (AIPG, CPG #11498), a St-Georges’ director, has also reviewed the scientific and technical content of this release. Mr. Duerr is a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

ON BEHALF OF THE BOARD OF DIRECTORS

“Vilhjalmur Thor Vilhjalmsson”

Vilhjalmur Thor Vilhjalmsson

President and CEO

About St-Georges

St-Georges is developing new technologies to solve some of the most common environmental problems in the mining industry.

The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1

Kings of The North Redux – St-Georges Eco-Mining $SX $SX.ca $SXOOF

Posted by AGORACOM-JC at 4:35 PM on Friday, August 21st, 2020
  • Announced that the Company has entered into a conditional binding agreement with BWA Group Plc of London to acquire all the outstanding shares of King of the North (KOTN), sold by St-Georges to BWA in September 2019
  • At the time of the transaction in 2019, St-Georges held 50.18% of KOTN
  • The proposed transaction with BWA and subsequently with the third-party arm-length other holders of the BWA securities will make St-Georges 100% owners of KOTN, that will be, once again, a wholly-owned subsidiary

Montreal – August 21, 2020 St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) announces that the Company has entered into a conditional binding agreement with BWA Group Plc of London to acquire all the outstanding shares of King of the North (KOTN), sold by St-Georges to BWA in September 2019.

At the time of the transaction in 2019, St-Georges held 50.18% of KOTN. The proposed transaction with BWA and subsequently with the third-party arm-length other holders of the BWA securities will make St-Georges 100% owners of KOTN, that will be, once again, a wholly-owned subsidiary.

KOTN was acquired from St-Georges and other related parties by BWA in October 2019 for a consideration of GBP4.66 million. Unfortunately, primarily arising from the impact of the COVID-19 restrictions, it has proved impossible to manage and effectively develop the investment in KOTN from the UK.

As a result, it has been agreed between the parties that St-Georges and the related parties to the original transaction will acquire the BWA’s 100 percent interest in KOTN by means of the cancellation of unconverted elements of the Convertible Unsecured Loan Notes issued as the original purchase consideration, amounting to a total of GBP4.3 million, of which GBP2,281,580 is coming from St-Georges. In addition, St-Georges will issue 1,500,000 common shares in favor of BWA. These shares will be subject to a standard 4 months regulatory hold. After closing the transaction, St-Georges is expected to retain its equity interest in BWA, amounting to approximately 21%.

The transaction is conditional to St-Georges and BWA’s ability to enter into a separate agreement with the related third parties that were part of the 2019 transaction.

The parties expect this transaction will be completed by August 31, 2020. Further information will be disclosed in the coming weeks.

Vilhjalmur Thor Vilhjalmsson, President and CEO of St-Georges, commented, “(…) It is unfortunate that BWA Group has been restricted in its efforts to develop these assets due to the impact of the pandemic on their operations. (…) We wish them all the best in the new direction they are taking, and we will be a supportive shareholder in their future successes (…) we will review the strategy and work program of these assets and divulge our intentions in a follow-up press release in the coming days(…).

The Company expects to disseminate a press release pertaining to its surface work campaign on the Iceland Thor Gold Project before common share transactions resume on the CSE.

ON BEHALF OF THE BOARD OF DIRECTORS

“Vilhjalmur T. Vilhjalmsson”

VILHJALMUR THOR VILHJALMSSON


President & CEO

About St-Georges Eco-Mining Corp.

St-Georges is developing new technologies to solve some of the most common environmental problems in the mining industry. The Company controls all the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & the Manicouagan Palladium Project on Quebec’s North Shore. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

St-Georges Announces Permits Have Been Obtained for Iceland #Gold Projects

Posted by AGORACOM-JC at 4:35 PM on Tuesday, May 5th, 2020
  • Received permits, and thus, the green light for its 2020 seasonal work programs for the Vopnafjordur and Trollaskagi gold and polymetallic licenses in Iceland
  • Icelandic mineral licensing authority, Orkustofnun, has today approved the work programs submitted by the Company

Reykjavik – May 5, 2020 St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) is pleased to announce that it has received the permits, and thus, the green light for its 2020 seasonal work programs for the Vopnafjordur and Trollaskagi gold and polymetallic licenses in Iceland.

The Company announced on April 24, 2020, that it expected to be able to do work in June and July within the licenses. The Company submitted the work programs for approval on March 31, 2020.

The Icelandic mineral licensing authority, Orkustofnun, has today approved the work programs submitted by the Company.

Covid-19 Impact Assessments

The Icelandic government has further eased its Covid-19 restrictions. The pandemic is expected to have a limited impact on the work programs scheduled to commence shortly.

ON BEHALF OF THE BOARD OF DIRECTORS

“Vilhjalmur Thor Vilhjalmsson”

Vilhjalmur Thor Vilhjalmsson
President and CEO

About St-Georges

St-Georges is developing new technologies to solve some of the most common environmental problems in the mining industry.

The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

St-Georges $SX $SX.ca $SXOOF Provides Update on #Lithium Processing Technology Initiative & Iceland #Gold Exploration

Posted by AGORACOM-JC at 2:44 PM on Friday, April 24th, 2020
  • Secured vendors and accepted proposals from third-party laboratories to further its lithium metallurgical processing technology’s advanced bench testing and its pilot plant
  • Up to recently, the Company had strategically divided the research workload between various laboratories to protect the intellectual property being developed
  • These segmented R&D silos will now come together and be integrated within the pilot plant operations

Montreal – April 24, 2020 St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF) (FSE: 85G1) is pleased to announce that it has secured vendors and accepted proposals from third-party laboratories to further its lithium metallurgical processing technology’s advanced bench testing and its pilot plant.

Up to recently, the Company had strategically divided the research workload between various laboratories to protect the intellectual property being developed. These segmented R&D silos will now come together and be integrated within the pilot plant operations.

As previously announced on February 10, 2020, in the “Winter Update” press release, the Company expected to secure an agreement within the second quarter of 2020. The use of ready-made facilities will generate significant cost reductions and represent a faster alternative than the building of a pilot plant from scratch. St-Georges’ management evaluated different proposals from various potential providers that were intended to meet the Company’s requirements.

The main contractor retained tipped the balance in its favor with a wealth of experience and state-of-the-art, ready-made facilities that only required certain adjustments specific to the St-Georges process. The team expects an adjustment period, and plant trial runs during Q2 and Q3 2020, subject to Quebec COVID-19 confinement releases. Full pilot scale testing should be initiated in or around the beginning of this year Q4.

The Company is expecting to receive materials from Iconic Minerals Ltd. (TSX-V: ICM) in accordance with the next phase of the on-going research and development program in place with the Company. Discussions are being held with various mines operators and mineral developers. Producers of spodumene concentrate have shown interest in supplying material for testing.

Quebec Lithium Resources

St-Georges also sourced material from a Quebec-based lithium project. The Company’s contractors will be preparing 10 to 15 tonnes of material that should yield results of approximately three metric tonnes of industry-grade spodumene concentrate suitable for pilot testing with the St-Georges’ process. The material should be available to the metallurgical team in the weeks following the Quebec government’s lifting of the COVID-19 lock-down. Sourcing local Quebec material qualifies the Company to apply for certain governmental grants, and the Company expects to apply for these grants in 2020.

Enrico Di Cesare, President of St-Georges Metallurgy Corp., commented: “Our partners’ facilities seem built for St-Georges. Under the circumstances, it would be non-sensical to spend time and money to replicate the facilities that they own. These groups have significant experience with concentrating, acids and solutions we will be using. In addition, it de-risks St-Georges by allowing us to focus on development work that is on-going. St-Georges looks forward to working with all our partners at CTMP (Centre de Technologie Minerale et de Plasturgie inc.), which has performed the early development work and will continue to work with the St-Georges team. We feel we will be able to accelerate the development and eventual market acceptance of the products we intend to produce. We believe this combination of laboratory work at bench scale and eventual large-scale pilot plant operations will accelerate our development work. We feel blessed to have two quality partners to move forward with, and we continue our collaborations with universities that specialize in this field of work.

St-Georges Metallurgy Corp.

On February 27, 2020, St-Georges incorporated a new subsidiary, St-Georges Metallurgy Corp., and appointed Enrico Di Cesare as its President and CEO. This entity is owned 100% by St-Georges and will handle all metallurgical R&D, laboratory partnerships, metallurgical joint ventures, and related intellectual property.

In April, the Company has secured the services of a veteran metallurgist, Mr. Ian J. Cox, to work on the projects with a focus on both lithium and nickel

Ian has a degree in fuel and combustion science, from Leeds University, UK. With post-grad courses in project management from the University of Tennessee, leadership from Harvard, and finance from the Massachusetts Institute of Technology (MIT), he is an experienced project manager/process engineer with extensive experience in new process development and transition from development to design and operation. Ian has built a profitable business in highly competitive international markets. He builds strong multi-function teams with international joint venture/partnering experience.

Iceland Exploration Update

The previously announced work programs in Iceland (See September 3 2019 Press Release), were not finished due to extreme weather conditions. With the arrival of spring and the Icelandic government allowing people to circulate for work as the COVID-19 confinement directives are being eased, the Company expects to be able to finish its Thor sampling program and send those samples to Canada for processing in May, with Vopna and Troll to follow in June-July. No resolution has yet materialized in regard to drilling the Thor property. Management expects to be able to drill this summer, but no certainty can be given in that regard.

Covid-19 Impacts Assessment

The Covid-19 pandemic impacts all of the Company’s Quebec operations. Quebec North-Shore exploration operations are halted until further notice from the government. The Company is using this period to prepare its intervention plan to meet with the First Nations on whose ancestral territory the projects lie. The current process requires 60 to 90 days to receive the relevant permits. It is currently impossible to know when this process will be initiated.

ON BEHALF OF THE BOARD OF DIRECTORS

“Vilhjalmur Thor Vilhjalmsson”

Vilhjalmur Thor Vilhjalmsson

President and CEO

About St-Georges

St-Georges is developing new technologies to solve some of the most common environmental problems in the mining industry.

The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

New Age Metals $NAM.ca Announces Detailed Mapping and Sampling Program has Returns Values up to 4.1% Li2O and 6.1% Rb2O at the Silverleaf Pegmatite, Lithium One Project, SE Manitoba $LIC.ca $LIX.ca

Posted by AGORACOM-JC at 9:37 AM on Tuesday, November 13th, 2018

New age large

  • New Age Metals has an Option/Joint-Venture agreement with partner Azincourt Energy Corp (AAZ) on its eight pegmatite hosted Lithium Projects in the Winnipeg River Pegmatite Field, located in SE Manitoba- Exploration in southeast Manitoba is focused on Lithium-bearing pegmatites and other rare metals.- Rubidium Oxide is a highly insoluble thermally stable Rubidium source suitable for glass, optic and ceramic applications. Rubidium is recovered commercially from Lepidolite as a by-product of lithium extraction.
  • Mapping and sampling at the Silverleaf Pegmatite on the Lithium One Project returned numerous samples of strong lithium mineralization with assays up to 4.1% Li2O and Rubidium up to 6.1% Rb2O on the Silverleaf Pegmatite.
  • Drill permits have been applied for on the Lithium Two and Lithium One Projects and the company is awaiting approval from the province
  • The company recently signed an Exploration Agreement with the Sagkeeng First Nation, see news release dated October 25, 2018.

November 13th, 2018 / Rockport, Canada – New Age Metals Inc. (NAM) (TSX.V: NAM; OTCQB: NMTLF; FSE: P7J.F) New Age Metals is pleased to provide an update on the current surface exploration program on the company’s Lithium One Project. The company’s Lithium Division, Lithium Canada Development, has an aggressive exploration program for 2018. The Joint Venture with New Age Metals and Azincourt Energy, has eight Lithium Projects in the Winnipeg River Pegmatite Field, located in SE Manitoba (Figure 1).

Lithium One Project

A field crew was active in the late summer and early fall exploring on the Lithium One Project. The reported results are from the Silverleaf Pegmatite (Figure 2). The Annie and other pegmatites from the Lithium One Project have been assayed and assay results are pending.

The Lithium One Project is located 125 kilometres northeast of Winnipeg, Manitoba and is geologically characterized as being a part of the Cat Lake-Winnipeg River Pegmatite Field.

 


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Figure 1: Claim Map of the Bird River Area Showing the Joint Venture Project Locations

This Pegmatite Field is host to the world-class Tanco Pegmatite, which has been mined since 1969 for Tantalum, Cesium, and Spodumene (a Lithium bearing ore). Historically the Lithium One Project area is known for the presence of numerous surface Pegmatites of various dimensions and compositions (see Figure 3).

The Silverleaf Pegmatite (Figure 4) is a zoned complex Lithium-bearing Pegmatite with a surface exposure of approximately 80 metres x 45 metres. The Pegmatite is exposed in the northeast and strikes under cover to the southwest. Samples taken from the Lepidolite-Spodumene Zone yielded assays from 1.81% to 4.09% Li2O and 0.63% to 6.11% Rb2O.

.


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Figure 2: Historical Pegmatite Location Map – Northern Portion, Lithium One Project

This zone is approximately 50 metres x 20 metres in size and extends into a historic excavated open pit. The historic open pit area originates from the late 1920s, when a bulk sample of Spodumene was mined from the southwest side of the Silverleaf Pegmatite. Large scale mining operations were not undertaken at that time. The area has seen sporadic exploration activity with focus on base metals and tantalum with minor exploration for Lithium.

In an effort to check the purity of the Spodumene, a sample of Spodumene blades was sampled from the Silverleaf Pegmatite. This sample yielded an assay of 8.76 % Li2O. A review of Spodumene mineral data at the Webmineral website indicates that Spodumene crystal can

(https://webmineral.com/data/Spodumene.shtml#.W-ShltVKipo) have a Lithium content from 3.73 to 8.03% Li2O. This would tend to indicate that the Spodumene crystals present at the Silverleaf Pegmatite are of a very high Lithium content.

The Spodumene blades at the surface of the Silverleaf Pegmatite can reach a length of up to 40 centimeters and a width of 10 centimeters (see Figure 5 and 6). The Spodumene blades are surrounded by Lithium bearing purple micas (Lepidolite).


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Figure 3: Pegmatite map of the Lithium One Project

Table 1: 2018 Samples from the Silverleaf Pegmatite

 


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Figure 4: Geological mapping of the Silverleaf Pegmatite, Lithium One Project

In geological terms, the Silverleaf Pegmatites encountered on the Lithium One Project is a LCT Type (Lithium-Cesium-Tantalum) Pegmatites

QA/QC Protocol

All samples were analyzed at the Activation Laboratories facility, in Ancaster, Ontario. Samples were prepared, using the lab’s Code RX1 procedure. Samples are crushed, up to 95% passing through a 10 mesh, riffle split, and then pulverized, with mild steel, to 95%, passing 105 ?m. Analyses were completed, using the lab’s Ultratrace 7 Package; a Sodium Peroxide Fusion which allows for total metal recovery and is effective for analysis of Sulphides and refractory minerals. Assay analyses are carried out, using ICP-OES and ICP-MS instrumentation. New Age Metals implemented a QA/QC field program with insertion of blanks at regular intervals. Activation Laboratories has their own internal QA/QC procedures that it carries out for all sample batches.

 


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Figure 5: Spodumene – Lepidolite Zone, Silverleaf Pegmatite, Lithium One Project

 


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Figure 6: Spodumene Blades – Lithium One Project – Silverleaf Pegmatite

Option/Joint Venture Agreement

In January of 2018, NAM announced a signed final agreement with Azincourt Energy Corp. (TSX.V: AAZ) for the Manitoba Lithium Projects. (News Release: January 15th, 2018) This Pegmatite Field hosts the world class Tanco Pegmatite that has been mined for Tantalum, Cesium and Spodumene (one of the primary Lithium ore minerals) in varying capacities, since 1969. NAM’s Lithium Projects are strategically situated in this prolific Pegmatite Field. Presently, NAM, under its subsidiary Lithium Canada Developments, is one of the largest mineral claim holders in the Winnipeg River Pegmatite Field for Lithium. Azincourt Energy Corp. as our option/joint venture is financed for and has committed to a minimum of $600,000 to be expended on exploration in Manitoba for 2018. See news release dated Janurary 15, 2018.

OPT-IN LIST

If you have not done so already, we encourage you to sign up on our website (www.newagemetals.com) to receive our updated news.

ABOUT NAM’S PGM DIVISION

NAM’s flagship project is its 100% owned River Valley PGM Project (NAM Website – River Valley Project) in the Sudbury Mining District of Northern Ontario (100 km east of Sudbury, Ontario). See results from the most recent NI 43-101 resource update below in Table 1. NAM management and consultants are currently designing a complete drill program to be executed in 2019 for the River Valley Project. This plan will consider previously proposed drill parameters and will be based on the most recent geophysical assessment and consultant expertise. The projects first economic study, a Preliminary Economic Assessment (PEA) is underway and is being overseen by Mr. Michael Neumann, P.Eng., a veteran mining engineer and one of NAM’s directors. See the most recent press releases for the River Valley Project PEA which detail the appointment of P&E Mining Consultants and DRA Americas to jointly conduct the study, dated July 25, 2018 and August 1, 2018 respectively. Our new Fall Chairman’s message can be accessed at our website (www.newagemetals.com) .

On April 4th, 2018, NAM signed an agreement with one of Alaska’s top geological consulting companies. The companies stated objective is to acquire additional PGM and Rare Metal projects in Alaska. On April 18th, 2018, NAM announced the right to purchase 100% of the Genesis PGM Project, NAM’s first Alaskan PGM acquisition related to the April 4th agreement. The Genesis PGM Project is a road accessible, under explored, highly prospective, multi-prospect drill ready Palladium (Pd)- Platinum (Pt)- Nickel (Ni)- Copper (Cu) property. A comprehensive report on previous exploration and future phases of work was completed by Avalon Development of Fairbanks Alaska in August 2018 on Genesis. A full sampling program will be conducted to continue to outline additional mineralization along the 800-meter by 40-meter mineralized zone

On August 29, the Avalon report was submitted to NAM, management is actively seeking an option/joint-venture partner for this road accessible PGM and Multiple Element Project using the Prospector Generator business model.

The results of the updated Mineral Resource Estimate for NAM’s flagship River Valley PGM Project are tabulated in Table 1 below (0.4 g/t PdEq cut-off).

Class Tonnes

‘,000

Pd (g/t) Pt (g/t) Rh (g/t) Au (g/t) Cu (%) Ni (%) Co (%) PdEq (g/t)
Measured 62,877.5 0.49 0.19 0.02 0.03 0.05 0.01 0.002 0.99
Indicated 97,855.2 0.40 0.16 0.02 0.03 0.05 0.01 0.002 0.83
Meas +Ind 160,732.7 0.44 0.17 0.02 0.03 0.05 0.01 0.002 0.90
Inferred 127,662.0 0.27 0.12 0.01 0.02 0.05 0.02 0.002 0.66
Class PGM + Au (oz) PdEq (oz) PtEq (oz) AuEq (oz)
Measured 1,440,200 1,999,600 1,999,600 1,136,900
Indicated 1,856,900 2,626,700 2,626,700 1,463,800
Meas +Ind 3,297,200 4,626,300 4,626,300 2,600,700
Inferred 1,578,400 2,713,900 2,713,900 1,323,800

Notes:

  1. A.CIM definition standards were followed for the resource estimation.
  2. B.The 2018 Mineral Resource models used Ordinary Kriging grade estimation within a three-dimensional block model with mineralized zones defined by wireframed solids.
  3. C.A base cut-off grade of 0.4 g/t PdEq was used for reporting Mineral Resources.
  4. D.Palladium Equivalent (PdEq) calculated using (US$): $1,000/oz Pd, $1,000/oz Pt, $1,350/oz Au, $1750/oz Rh, $3.20/lb Cu, $5.50/lb Ni, $36/lb Co.
  5. E.Numbers may not add exactly due to rounding.
  6. F.Mineral Resources that are not Mineral Reserves do not have economic viability.
  7. G. The Inferred Mineral Resource in this estimate has a lower level of confidence that that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.

QUALIFIED PERSON

The contents contained herein that relate to Exploration Results or Mineral Resources is based on information compiled, reviewed or prepared by Carey Galeschuk, a consulting geoscientist for New Age Metals. Mr. Galeschuk is the Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical content of this news release.

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.

#Lithium Market Expected To Struggle To Meet Demand Through 2025 $NAM.ca $LIC.ca $LIX.ca

Posted by AGORACOM-JC at 4:14 PM on Monday, November 5th, 2018
  • For lithium producers, the inability to lift output fast enough to meet the demand for the most coveted material, essential for producing electric vehicle batteries, will undoubtedly cause some problems in the forthcoming years.
  • This was revealed earlier this week by the sector’s newest public company, Livent Corp who have expressed their worries about the greater risks imposed in the near future, thanks to the consistent deficit on the market.

OCT 24 2018 BY VANJA KLJAIC 

The production of the material that are essential in making batteries for electric vehicles will impact the market in the forthcoming years.

For lithium producers, the inability to lift output fast enough to meet the demand for the most coveted material, essential for producing electric vehicle batteries, will undoubtedly cause some problems in the forthcoming years. This was revealed earlier this week by the sector’s newest public company, Livent Corp who have expressed their worries about the greater risks imposed in the near future, thanks to the consistent deficit on the market.

“We think demand is going to grow almost five times larger in 2025 than it was in 2017,” CEO Paul Graves said in an interview Thursday in New York, as the supplier made its trading debut. “Our biggest challenge is producing enough to meet the demand — there’s a much greater risk that this market is consistently in a deficit in the near future.”

The long-term outlook considering the lithium demand from Livent, a spinoff from chemical maker FMC Corp., is shared by their competitors, like the Chinese-based company Jiangxi Ganfeng Lithium Co., which this week sold shares in Hong Kong for the first time. However, it seems that the investors haven’t been immediately swayed, focusing instead on concerns new supply may flood the market in the short term. Furthermore, the potential decline, coming after a rally that tripled prices in the three years through 2017, also causes concern for potential investors.

Hence, the shares of the Philadelphia-based Livent closed little changed Thursday, while Ganfeng plunged 29 percent on its Hong Kong debut.

“The poor performance reflects lack of confidence in the near-term lithium market,” Argonaut Securities (Asia) Ltd. analysts including Helen Lau said in a Friday note. “We think markets have indeed over-reacted to the current price performance and overlooked the demand growth prospects.”

There are several reasons behind the inability for these companies to lift output fast enough to meet the demand set forth by the world car industry. For some, it’s the capital they’re unable to raise that would fuel their expansion. Some others are faced with face regulatory hurdles, dimming the supply outlook. For Livent’s Graves, 47, who was FMC’s CFO and worked at Goldman Sachs Group Inc. for 12 years, including as co-head of natural resources in Asia, expansion into other countries is needed in order to meet the ever increasing demand for this material.

“Our next priority is to expand our Argentina production as quickly as we can to meet that downstream need,” he said.

Even more, according to Ganfeng’s Vice Chairman Wang Xiaoshen, giving an interview Tuesday, there is a potential risk of a lithium shortage longer term, particularly from around 2023 to 2024, when production of electric vehicles is set to accelerate even further. And that could cause additional problems. The world is gearing up for an electric revolution, but it seems that the lithium industry – the one supplying its core materials – may not yet be ready for it.

Source: https://insideevs.com/lithium-market-struggle-meet-demand-through-2025/

New Age Metals $NAM.ca and Azincourt Energy Lithium Joint Venture Extends the Eagle Pegmatite to the West with Phase Two Sampling Returning Values up to 3.8% $GLEN $LIC.ca $LIX.ca

Posted by AGORACOM-JC at 9:25 AM on Tuesday, October 30th, 2018

New age large

  • Mapping has extended the Eagle Pegmatite approximately 300 meters to the west of the company claim boundary
  • A second phase of surface sampling at the Eagle Pegmatite has returned assays up to 3.8% Li2O.
  • New Age Metals along with Option/Joint-Venture Partner Azincourt Energy Corp have 100% ownership of eight pegmatite hosted Lithium Projects in the Winnipeg River Pegmatite Field, located in southeast (SE) Manitoba
  • Exploration in SE Manitoba is focused on Lithium-bearing pegmatites.
  • The eight projects are strategically situated within the Winnipeg River Pegmatite Field, which hosts the world-class Tanco Pegmatite that has been mined for Tantalum, Cesium and Spodumene (one of the primary Lithium minerals) in varying capacities, since 1969.
  • Present exploration is being conducted on the Lithium One Project.
  • Drill permits have been applied for on the Lithium Two and Lithium One Projects and the company is awaiting approval from the province.

October 30th, 2018 / Rockport, Canada – New Age Metals Inc. (NAM) (TSX.V: NAM; OTCQB: NMTLF; FSE: P7J.F) New Age Metals is pleased to provide an update on the present exploration program with regards to the company’s Manitoba Lithium Projects. The company’s Lithium Division, Lithium Canada Development, has an aggressive exploration plan for 2018. The Joint Venture with New Age Metals and Azincourt Energy, has eight Lithium Projects in the Winnipeg River Pegmatite Field, located in SE Manitoba (Figure 1).

Lithium Two Project

Two phases of surface exploration were carried out on the Lithium Two Project during the summer. Grab samples, channel samples and fractionation samples were collected. Fractionation samples will give an indication of the degree of fractionation of sampled pegmatites. Fractionated pegmatites are more conducive to containing Lithium and Rare Metal minerals.


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Figure 1: Manitoba Lithium Projects 2018 – New Age Metals/Azincourt Energy Joint Venture

The Lithium Two Project has several historically known Spodumene bearing pegmatites (see Figure 2). The Eagle Pegmatite was drilled in 1947 with a historic (non 43-101 compliant) tonnage estimate of 544,460 tonnes with a grade of 1.4% Li2O to the 61-meter level. The deposit remains open to depth. The FD5 Pegmatite, located east of the Eagle Pegmatite has never been drilled. Historic assessment reports revealed a Spodumene bearing pegmatite drilled in the late 1940’s, located approximately 500 meters southeast of the Eagle Pegmatite but not exposed on surface. No grades were provided in the report. This pegmatite as well as the Eagle and FD5 will be tested during the upcoming drill program. Drill work permits have been applied for and the company is waiting for approval from the province.


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Figure 2: Lithium Assays at the Lithium Two Project, SE Manitoba

A Phase One surface exploration program was carried out earlier in the summer (see News Release: August 16th, 2018). Follow up sampling was carried out during the Phase Two surface exploration program on the FD5 Pegmatite (see Table 1) and the Eagle Pegmatite (see Table 2). The Lithium grades at the FD5 did not change as samples were collected for fractionation but there was an increase in Lithium assays at the Eagle Pegmatite with assays up to 3.8% Li2O. The field program focussed on more detailed structural geological mapping and mapping of the westward extent of the Eagle Pegmatite.

The company entered into an agreement (News Release: July 11th, 2018) with Grid Metals (formerly Mustang Minerals) for the rights to explore for Lithium and Rare Metals on the claim directly adjacent to the west of the Lithium Two Project. During the Phase Two surface exploration the westward extension was mapped for approximately 300 meters into the westward claim. Detailed mapping has extended the length of the Eagle Pegmatite to approximately 900 meters that has been examined in the field from surface outcrop exposures. The pegmatite remains open along strike where it goes under overburden. Samples on the west side of the Eagle Pegmatite returned only weak Lithium mineralization on surface (see Table 3) but contained a larger proportion of Lepidolite (a Lithium Mica) and therefore elevated Rubidium values.

Even though Lithium is the main focus of the exploration it should be noted that the pegmatites also show elevated Tantalum values that may be of an economic interest. Pegmatites elsewhere on the project did not reveal significant Lithium mineralization; however, several were elevated in Tantalum. Fractionation assays are presently being reviewed by the company’s geological consultants. Results will be reported at a later date when a review of the feldspar and mica fractionation results for the summer pegmatite exploration is undertaken.


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Table 1: FD5 Pegmatite – 2018 Assays

In an effort to check the purity of the Spodumene, a sample of Spodumene blades was sampled from the FD5 Pegmatite. This sample yielded an assay of 7.62% Li2O. A review of Spodumene Mineral Data (https://webmineral.com/data/Spodumene) indicates that Spodumene can have a Li2O content from 3.73 to 8.03% Li2O. This would tend to indicate that the Spodumene present in the pegmatites dykes on the project is of a high purity.

In geological terms, the pegmatites encountered on the Lithium Two Project are LCT Type (Lithium-Cesium-Tantalum) Pegmatites and are in the Albite-Spodumene Subgroup. Spodumene is expressed in the pegmatites as small green blades up to 3 centimeters in length. The Eagle Pegmatite is a west-northwest to west-striking, vertically dipping, lenticular pegmatite dyke intruded into mafic volcanics. The widths of the pegmatite have been measured to be between 2 to 10 meters. The Eagle Pegmatite system appears to be a swarm of closely spaced pegmatite bodies.

Table 2:Eagle Pegmatite – 2018 Assays

Table 3: West Eagle Pegmatite – 2018 Assays


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QA/QC Protocol

All samples were analyzed at the Activation Laboratories facility, in Ancaster, Ontario. Samples were prepared, using the lab’s Code RX1 procedure. Samples are crushed, up to 95% passing through a 10 mesh, riffle split, and then pulverized, with mild steel, to 95%, passing 105 ?m. Analyses were completed, using the lab’s Ultratrace 7 Package; a Sodium Peroxide Fusion which allows for total metal recovery and is effective for analysis of Sulphides and refractory minerals. Assay analyses are carried out, using ICP-OES and ICP-MS instrumentation. New Age Metals implemented a QA/QC field program with insertion of blanks at regular intervals. Activation Laboratories has their own internal QA/QC procedures that it carries out for all sample batches.

Stock Option Grant

In addition, the Company announces that it has granted 300,000 incentive stock options to consultants of the Company at an exercise price of $0.12 per share for a period of five (5) years from the date of grant in accordance with the Company’s Stock Option Plan. The Stock Options granted will be subject to vesting restrictions, acceptance by the TSX Venture Exchange and will be subject to regulatory hold periods in accordance with applicable Canadian Securities Laws.

Joint Venture Agreement

In January of 2018, NAM announced a signed final agreement with Azincourt Energy Corp. (TSX.V: AAZ) for the Manitoba Lithium Projects. (News Release: January 15th, 2018) This Pegmatite Field hosts the world class Tanco Pegmatite that has been mined for Tantalum, Cesium and Spodumene (one of the primary Lithium ore minerals) in varying capacities, since 1969. NAM’s Lithium Projects are strategically situated in this prolific Pegmatite Field. Presently, NAM, under its subsidiary Lithium Canada Developments, is one of the largest mineral claim holders in the Winnipeg River Pegmatite Field for Lithium. Azincourt Energy Corp. as our option/joint venture is financed for and has committed to a minimum of $600,000 to be expended on exploration in Manitoba for 2018.

OPT-IN LIST

If you have not done so already, we encourage you to sign up on our website (www.newagemetals.com) to receive our updated news.

ABOUT NAM’S PGM DIVISION

NAM’s flagship project is its 100% owned River Valley PGM Project (NAM Website – River Valley Project) in the Sudbury Mining District of Northern Ontario (100 km east of Sudbury, Ontario). See results from the most recent NI 43-101 resource update below in Table 4. NAM is currently conducting Phase 4 of their proposed 2018 exploration and development program. This program is based on recommendations of previous geophysical studies completed in 2017 and 2018. Mr. Michael Neumann, P.Eng., a veteran mining engineer and one of NAM’s directors, will oversee the completion of the PEA. See the most recent press releases for the River Valley Project PEA which detail the appointment of P&E Mining Consultants and DRA Americas to jointly conduct the study, dated July 25, 2018 and August 1, 2018 respectively. Our new Fall Chairman’s message can be accessed at our website (www.newagemetals.com).

On April 4th, 2018, NAM signed an agreement with one of Alaska’s top geological consulting companies. The companies stated objective is to acquire additional PGM and Rare Metal projects in Alaska. On April 18th, 2018, NAM announced the right to purchase 100% of the Genesis PGM Project, NAM’s first Alaskan PGM acquisition related to the April 4th agreement. The Genesis PGM Project is a road accessible, under explored, highly prospective, multi-prospect drill ready Palladium (Pd)- Platinum (Pt)- Nickel (Ni)- Copper (Cu) property. A comprehensive report on previous exploration and future phases of work was completed by Avalon Development of Fairbanks Alaska in August 2018 on Genesis. A full sampling program will be conducted to continue to outline additional mineralization along the 800-meter by 40-meter mineralized zone

On August 29, the Avalon report was submitted to NAM, management is actively seeking an option/joint-venture partner for this road accessible PGM and Multiple Element Project using the Prospector Generator business model.

Table 2: Results of the Mineral Resource Estimate for NAM’s flagship River Valley PGM Project (0.4 g/t PdEq cut-off)

Class Tonnes

‘,000

Pd (g/t) Pt (g/t) Rh (g/t) Au (g/t) Cu (%) Ni (%) Co (%) PdEq (g/t)
Measured 62,877.5 0.49 0.19 0.02 0.03 0.05 0.01 0.002 0.99
Indicated 97,855.2 0.40 0.16 0.02 0.03 0.05 0.01 0.002 0.83
Meas +Ind 160,732.7 0.44 0.17 0.02 0.03 0.05 0.01 0.002 0.90
Inferred 127,662.0 0.27 0.12 0.01 0.02 0.05 0.02 0.002 0.66
Class PGM + Au (oz) PdEq (oz) PtEq (oz) AuEq (oz)
Measured 1,440,200 1,999,600 1,999,600 1,136,900
Indicated 1,856,900 2,626,700 2,626,700 1,463,800
Meas +Ind 3,297,200 4,626,300 4,626,300 2,600,700
Inferred 1,578,400 2,713,900 2,713,900 1,323,800

Notes:

  1. A.CIM definition standards were followed for the resource estimation.
  2. B.The 2018 Mineral Resource models used Ordinary Kriging grade estimation within a three-dimensional block model with mineralized zones defined by wireframed solids.
  3. C.A base cut-off grade of 0.4 g/t PdEq was used for reporting Mineral Resources.
  4. D.Palladium Equivalent (PdEq) calculated using (US$): $1,000/oz Pd, $1,000/oz Pt, $1,350/oz Au, $1750/oz Rh, $3.20/lb Cu, $5.50/lb Ni, $36/lb Co.
  5. E.Numbers may not add exactly due to rounding.
  6. F.Mineral Resources that are not Mineral Reserves do not have economic viability.
  7. G. The Inferred Mineral Resource in this estimate has a lower level of confidence that that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.

QUALIFIED PERSON

The contents contained herein that relate to Exploration Results or Mineral Resources is based on information compiled, reviewed or prepared by Carey Galeschuk, a consulting geoscientist for New Age Metals. Mr. Galeschuk is the Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical content of this news release.

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.

New Age Metals $NAM.ca Signs Exploration Agreement with Sagkeeng First Nation Manitoba $GLEN $LIC.ca $LIX.ca

Posted by AGORACOM-JC at 10:24 AM on Thursday, October 25th, 2018

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  • On October 22, 2018 NAM and the Sagkeeng Anicinabe Nation (Sagkeeng) signed an Exploration Agreement. The objective of the agreement is to promote a cooperative and mutually respectful relationship concerning certain mineral exploration projects being developed by NAM, and any additional mining claims or properties in which NAM may acquire an interest, located within Sagkeeng Traditional Territory.
  • NAM has eight pegmatite hosted Lithium Projects in the Winnipeg River Pegmatite Field, located in SE Manitoba
  • The mineral claims are 100% owned by NAM’s Lithium Division, Lithium Canada Development, and an Option/Joint Venture has been signed on the claims with Azincourt Energy Corp. (AAZ).
  • The eight projects are strategically situated within the Winnipeg River Pegmatite Field, which hosts the world class Tanco Pegmatite that has been mined for Tantalum, Cesium and Spodumene (one of the primary Lithium bearing minerals) in varying capacities, since 1969.
  • Drill permits have been applied for on the Lithium Two and Lithium One Projects and the signing of this agreement with Sagkeeng has outlined a clear path to receive the approvals.

October, 25th 2018 / Rockport, Canada – New Age Metals Inc. (NAM) (TSX.V: NAM; OTCQB: NMTLF; FSE: P7J.F) New Age Metals is pleased to provide an update on our Lithium division in Manitoba.

Harry Barr, Chairman & CEO stated, “By signing this Exploration Agreement the Company believes that there is a structured method to work constructively with the Sagkeeng Nation in regards to the exploration and development of any of the company’s claims that are located on traditional Sagkeeng territories. Going forward, NAM has agreed to complete desktop archaeological studies on the areas in which exploration and development activities will be conducted. These studies will help to expedite the drill application approval process and to conduct our drill objectives. Once desktop archaeological assessments are completed, NAM expects to begin drilling shortly thereafter.”

The company’s Lithium Division, Lithium Canada Developments, has an aggressive exploration and development plan for 2018/2019. NAM’s Manitoba projects are financed via an Option/Joint Venture agreement with Azincourt Energy (AAZ) (see News Release Jan 18th, 2018).


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Figure 1: Claim map showing priority areas where archaeological studies will be completed as part of the new Exploration Agreement with the Sagkeeng Nation.

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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.