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New Age Metals $NAM.ca $NMTLF Initiates Pre-Feasibility Study for the River Valley Palladium Project, $WG.ca $XTM.ca $WM.ca $PDL.ca $PGM.ca

Posted by AGORACOM-Eric at 8:50 AM on Monday, April 12th, 2021
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  • Will take 8 to 12 months
  • Completion early 2022

New Age Metals Inc. (TSXV:NAM); (OTC:NMTLF); (FSE:P7J.F) (“NAM” or “Company”) is pleased to announce agreements with leading engineering firms to complete a Pre-Feasibility Study of its 100% owned River Valley Palladium Project near Sudbury, Ontario (Canada). The Pre-Feasibility Study will be undertaken over the next 8 to 12 months, with completion slated for early 2022.  

The Pre-Feasibility Study will be completed by four engineering firms: P&E Mining Consultants Inc. for Initial Mineral Reserve estimation, mine planning, economic analysis and Project Lead; SGS Canada Inc. and D.E.N.M. Engineering Ltd. for mineral processing and metallurgical test work; Knight-Piésold Consulting for design of the tailings facility and open pit geotechnical engineering; and Story Environmental for environmental and community impact interactions and permitting. P&E Mining Consultants Inc. will be updating the Mineral Resource Estimate and leading the preparation of the Pre-Feasibility Study NI 43-101 Technical Report.

Harry Barr, Chairman and CEO, said, “We are extremely pleased to have assembled such an impressive team for our Pre-Feasibility Study. These firms will work together with NAM to optimize the value of the River Valley Palladium Project, by maximizing the economic aspects while minimizing the environmental impacts and benefitting the local communities. The River Valley Project will be very well-timed for the green metal revolution.”

Work for the Pre-Feasibility Study is planned to commence this month. Four new holes will be drilled by NAM to recover fresh material for new mineral processing and metallurgical testwork. The SGS Canada Inc. and D.E.N.M team will work on the material to optimize recovery of palladium, platinum, gold, copper, nickel, rhodium and cobalt. This work will build on previous studies by SGS Lakefield in 2012 and include, for the first time, systematic rhodium recovery determinations. Knight-Piésold Consulting will complete the first geotechnical and geomechanical studies of the Project, based on new drilling and excavations by NAM in the areas of the open pit mines, processing plant, waste dumps and tailings facilities, as outlined in the Preliminary Economic Assessment (“PEA”) of June 2019 (Figure 1). Story Environmental will continue baseline environmental studies and build effective relationships with local government agencies and communities, including First Nations, for future permit applications and approvals.

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New Age Metals $NAM.ca $NMTLF Drone Magnetic Survey to be Completed on Several Lithium Projects in Southeast Manitoba $WG.ca $XTM.ca $WM.ca $PDL.ca $PGM.ca

Posted by AGORACOM-Eric at 9:25 AM on Tuesday, April 6th, 2021
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  • NAM has contracted EarthEx Geophysical Solutions (EarthEx) to conduct several UAV-Borne Magnetometry Surveys on the Company’s Lithium Projects in southeast (SE) Manitoba
  • The program is being co-funded by the Company and the Manitoba Mineral Development Fund (MMDF) which is administered by the Chamber of Commerce
  • NAM has 100% ownership of seven pegmatite hosted Lithium and Rare Element Projects in the Winnipeg River Pegmatite Field, located in SE Manitoba
  • NAM’s exploration focus on SE Manitoba is on Lithium-bearing pegmatites – The seven projects are strategically situated within the Winnipeg River Pegmatite Field

New Age Metals Inc. (NAM) (TSXV:NAM); (OTC:NMTLF); (FSE:P7J) (“NAM” or the “Company”) is pleased to announce that a Drone Magnetic Survey is being initiated on their Lithium Projects in SE Manitoba through their wholly owned subsidiary, Lithium Canada Development.

The Drone Magnetic Survey is a UAV-Borne Magnetometry survey. The present system being used by EarthEx is the highest resolution drone magnetics system on the market today. EarthEx is a Manitoba-based geophysical consulting company. Daniel Card, Chief Geophysicist and President of EarthEx said “We are excited to be working with such a highly reputable company as New Age Metals, in this prolific pegmatite district, providing services which will accelerate the path to new discoveries.” The EarthEx airborne magnetic geophysical survey technology will be used to further define future drill targets for the Company’s Lithium Two, Lithman West and Cat Lake Lithium Projects, Figure 1.

Harry Barr, Chairman and CEO stated, “Our team is busy advancing the Lithium Projects in SE Manitoba. Drilling is occurring in the next few weeks on one of our Lithium Projects and the Drone Magnetic Survey will help us better determine other drill targets. The potential for economic Lithium Deposits in Manitoba is strong and New Age with its Lithium Division, Lithium Canada Development are pleased to be fully funded and active in the Lithium space in Manitoba. We are also very fortunate to be partnering with the Manitoba Mineral Development Fund again on this work program to help develop this underexplored lithium region.”

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New Age Metals $NAM.ca $NMTLF Closes First Tranche of $2,975,000 with Lead Order from Eric Sprott $WG.ca $XTM.ca $WM.ca $PDL.ca $PGM.ca

Posted by AGORACOM-Eric at 11:30 AM on Wednesday, March 31st, 2021
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  • Gross proceeds of $2,975,000
  • 1st of 2 Tranches

New Age Metals Inc. (TSXV:NAM) (OTC:NMTLF) (FSE:P7J) (“NAM” or the “Company“), is pleased to announce that further to the news release of March 26, 2021, the Company has completed the first tranche of its private placement (“Private Placement”) raising gross proceeds of $2,975,000.

The Company has issued an aggregate of 18,593,750 units (“Units”) at a purchase price of $0.16 per Unit for aggregate gross proceeds of $2,975,000.  Eric Sprott has closed 18,281,250 of the Units for $2,925,000.

Each Unit consisted of one common share and one half of one share purchase warrant, whereby each whole warrant entitles the holder to purchase one additional common share at a purchase price of $0.20 per share at any time up to March 31, 2023.

Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, acquired 18,281,250 Units pursuant to the Private Placement for total consideration of $2,925,000. Prior to the Private Placement, Mr. Sprott beneficially owned or controlled 20,250,000 Common Shares and 17,125,000 Warrants of the Company.  As a result of the Private Placement, Mr. Sprott beneficially owns and controls 38,531,250 Common Shares and 26,265,625 Warrants representing approximately 19.9% of the issued and outstanding shares of the Company on a non-diluted basis and approximately 29.5% of the issued and outstanding shares of the Company on a partially diluted basis assuming the exercise of Warrants.

The Units were acquired by Mr. Sprott for investment purposes.  Mr. Sprott has a long-term view of the investment and may acquire additional securities of the Company including on the open market or through private acquisitions or sell securities of Company including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other factors that Mr. Sprott considers relevant from time to time. 

A copy of the applicable early warning report will appear on the Company’s profile on SEDAR and may also be obtained by calling Mr. Sprott’s office at (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).

The second tranche of 12,968,750 Units is to be completed five business days after the Company has obtained shareholder approval (from disinterested shareholders) for the new control person that would be created once Mr. Sprott’s beneficial ownership exceeds 20%.  The completion of the second tranche is conditional upon such shareholder approval being obtained by August 30, 2021.  Mr. Sprott will provide an undertaking not to exercise his warrants (if doing so would result in his non-diluted ownership interest exceeding 20%) until the Company has obtained such shareholder approval.

Mr. Sprott is an insider of the Company and, as such, his participation in the Private Placement is a related-party transaction under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and TSX Venture Exchange Policy 5.9 (which incorporates by reference MI 61-101). The Company is relying on exemptions from the minority shareholder approval and formal valuation requirements applicable to related party transactions under sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value of the Units to be purchased on behalf of Mr. Sprott nor the consideration to be paid by him exceeds 25% of the Company’s market capitalization.

In connection with the first tranche of the Private Placement, the Company has paid finder fees to Mackie Research Capital Corporation of $193,375 in cash and issued 1,208,594 warrants.  Each such warrant will be exercisable for two years at an exercise price of $0.16 per Unit (being the same as the per Unit price under the Private Placement).

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New Age Metals $NAM.ca $NMTLF Announces First Tranche Closing of $3,621,680 Private Placement, with Participation by Eric Sprott $WG.ca $XTM.ca $WM.ca $PDL.ca $PGM.ca

Posted by AGORACOM-Eric at 3:44 PM on Thursday, March 18th, 2021
  • Gross Proceeds of $3,621,680
  • Lead order of $1,000,000 from Eric Sprott
  • Proceeds for Prefeasibility Study on River Valley Platinum Group Metals (PGM) Project, one of North America’s largest undeveloped primary palladium projects

New Age Metals Inc. (TSXV:NAM) (OTC:NMTLF) (FSE:P7J) (“NAM” or the “Company“), is pleased to announce that it has completed a first tranche closing of its non-brokered private placement offering (the “Private Placement”) raising gross proceeds of $3,621,680, with lead order of $1,000,000 from Mr. Eric Sprott.

The Company has issued an aggregate of 22,260,500 units consisting of 20,760,500 non-flow through units (“NFT Units”) at a price of $0.16 per NFT Unit and 1,500,000 flow-through units of the Company (the “FT Units”) at a price of $0.20 per FT Unit.

Each NFT Unit consisted of one common share and one-half of one Common Share purchase warrant of the Company (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder thereof to purchase one additional Common Share at an exercise price equal to $0.20 per share at any time up to 24 months from closing.

Each FT Unit consisted of one flow-through share of the Company that will qualify within the meaning of subsection 66(15) of the Income Tax Act (Canada) (“FT Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “FT Warrant”). Each FT Warrant shall entitle the holder thereof to purchase one Common Share at an exercise price equal to $0.25 at any time up to 24 months closing.

The Company intends to use the net proceeds from the sale of Units towards its exploration and development work on its projects. The primary use of proceeds from this financing will be for the completion of a Prefeasibility Study for the Company’s flagship River Valley Platinum Group Metals (PGM) Project, one of North America’s largest undeveloped primary palladium projects, and for general corporate and working capital purposes. The Company intends to use the net proceeds from the sale of FT Units towards its exploration work on both the Company’s PGM and Lithium divisions. This will include a maiden drill program on the Company’s Lithium Two Project in Manitoba and continued drilling at River Valley.

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New Age Metals $NAM.ca $NMTLF River Valley Prefeasibility Study Update and Drilling on PGM and Lithium Divisions in 2021 $WG.ca $XTM.ca $WM.ca $PDL.ca $PGM.ca

Posted by AGORACOM-Eric at 9:44 AM on Monday, March 8th, 2021
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  • Subject to closing a recently announced financing, this release will outline our 2021 objectives including;
  • NAM intends to engage third party engineering companies to complete the River Valley Palladium Project’s first Prefeasibility Study before the end of the first quarter of 2022.
  • NAM technical teams are finalizing plans for additional exploration drilling of up to 5,000 metres at the River Valley Project to further delineate the northernmost mineralized zones, expand the known mineralization boundaries and for resource classification.
  • NAM has received notice that a drill permit for its Lithium One Project in southeast Manitoba has been approved and is extending its permit for the Lithium Two Project. A minimum 2,000 metre drill program on the Lithium Two Project is scheduled for the second quarter of this year.
  • NAM has submitted a second application to the Manitoba Chamber of Commerce’s, Mineral Development Fund (MMDF). The Company hopes to co-fund the program with the MMDF to conduct a drone magnetometry survey on its Lithium Two, Lithman West and Cat Lake Lithium projects.
  • The River Valley Palladium Project is one of North America’s largest undeveloped primary Platinum Group Metal (PGM) projects. The Project has excellent infrastructure and is within 100 kilometres of the Sudbury Metallurgical Complex. The Project is 100% owned by New Age Metals.
  • The spot price of an ounce of palladium, platinum, and rhodium as of March 4, 2021 was $US2,285/oz, $US1,160/oz, and $US26,000/ oz respectively (Kitco, 2021)

New Age Metals Inc. (TSXV:NAM); (OTC:NMTLF); (FSE:P7J.F) Harry Barr, Chairman & CEO, stated; “We are pleased to provide shareholders with a corporate update to detail our planned exploration and development activities for our portfolio of North American green metal projects in 2021.”

NAM is focused on advancing River Valley to a Prefeasibility study. This study would be based on completion of metallurgy, hydrogeology, geotechnical surveys, an updated mineral resource estimate, environmental baseline, infill and exploration drilling. Management has received quotes from third party engineering and environmental firms and confirmed a budget for the study. Subject to the completion of the recently announced financing, management plans to initiate this study in the first half of 2021. Our objective is to complete the Prefeasibility study on or before the end of the first quarter of 2022.

NAM’s technical team is finalizing a phase one drill program for up to 5,000 metres for the northern portion of the River Valley Project. Next phases of drilling will focus on the Dana North, Dana South, Pine, Banshee, Lismer and Pardo Zones (Figure 1) given their fundamental importance to any potential mining operation at River Valley. The occurrence of surface mineralization in the River Valley Intrusion, drill hole mineralization and geophysical chargeability east of the footwall boundary of the current resource model are all strong indicators of mineralization that could be added to a future resource model. Proposed drill targets are illustrated in Figure 1 below.

 Figure 1: Northern area of the River Valley Project.The image shows numerous IP anomalies similar to Pine Zone extend northeast (externally) and southwest (internally) of the footwall contact of the River Valley Intrusion. Those IP anomalies remain to be drill tested.

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NAM Further Demonstrates Presence of Rhodium at the River Valley Palladium Project Near Sudbury, Ontario $WG.ca $XTM.ca $WM.ca $PDL.ca $PGM.ca

Posted by AGORACOM-Eric at 9:20 AM on Tuesday, March 2nd, 2021

Highlights:

  • Rhodium (Rh) is the most valuable platinum group metal (PGM), with recent spot price highs of over $US24,000/oz Rh, nearly 18 times higher than Pt
  • 303 Rh assay results reported for the Pine Zone of the River Valley Deposit
  • Highest assay result is 0.177 g/t Rh, with 9 other samples returned assays at or greater than 0.100 g/t Rh and a total of 50 samples returned assays higher than 0.050 g/t Rh
  • The highest Rh concentrations coincide with the highest palladium (Pd) and platinum (Pt) grades – Rh concentrations in the River Valley Deposit are equivalent to 12% of the Pt grades
  • Based on encouraging results from phase 1, subsequent phases of the multi-phase Rh evaluation program will take samples of PGM mineralized intervals from the Dana South and Lismer zones
  • The River Valley Deposit is one of North Americas largest undeveloped primary platinum-group metal projects with 2.867 Moz Palladium Equivalent (PdEq) in the Measured + Indicated classifications and 1.059 Moz Pd Eq in the Inferred classification

New Age Metals Inc. (NAM) (TSXV:NAM); (OTC:NMTLF); (FSE:P7J) (“NAM” or the “Company”) announces completion of Phase 1 of an ongoing Rh assay program on the River Valley Palladium Deposit near Sudbury, Ontario (Figure 1). Phase 1 of the Rh assay program collected 303 pulp samples from 17 mineralized intervals in 14 drill holes through the Pine Zone. The samples were selected to provide Rh data for mineralization in two cross-sections spaced 50 metres apart through the Pine Zone, located near the north end of the 16 km long River Valley Deposit (Figure 1).  In addition to Rh, the samples were also assayed for gold (Au), iridium (Ir), palladium (Pd), platinum (Pt), and ruthenium (Ru). The assays were completed on 2015-2020 drill core sample pulps at the Geoscience Laboratories in Sudbury.

The new Rh data reported herein are in addition to historical data generated from drill core, channel and surface grab samples from the River Valley Deposit (Figure 2) (see also Pacific North West Capital Corp. press release dated July 26, 2011). Rh is the most valuable platinum group metal (PGM), with recent spot price highs of over $US24,000/oz Rh, nearly 18 times higher than Pt. However, Rh analyses are too costly to be performed on every drill core assay sample. Rh is reported in the current Mineral Resource Estimate for the River Valley Deposit (see NAM press release dated August 8, 2019), based on regression analysis of historical drill core and channel sample assay data for the Dana North, Dana South and Lismer Zones.
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New Age Metals $NAM $ NMTLF Announces Upsize of Private Placement to $5.25 Million $WG.ca $XTM.ca $WM.ca $PDL.ca

Posted by AGORACOM-Eric at 8:38 AM on Friday, February 26th, 2021
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New Age Metals Inc. (TSXV:NAM) (OTC:NMTLF) (FSE:P7J) (“NAM” or the “Company“), is pleased to announce that, due to strong investor demand, it has increased its previously announced non-brokered private placement offering (the “Private Placement”) to up to $5,250,000, consisting of: (i) up to $3,500,000 in units of the Company (the “Units”) at a price of $0.16 per Unit and (ii) up to $1,750,000 in flow-through units of the Company (the “FT Units”) at a price of $0.20 per FT Unit.

Each Unit shall be comprised of one common share (a “Common Share“) of the Company and one-half of one Common Share purchase warrant of the Company (each whole warrant, a “Warrant“). Each Warrant shall entitle the holder thereof to purchase one additional Common Share at an exercise price equal to $0.20 at any time up to 24 months from closing of the Private Placement.

Each FT Unit will consist of one common share of the Company that will qualify as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (“FT Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “FT Unit Warrant”). Each FT Unit Warrant shall entitle the holder thereof to purchase one Common Share at an exercise price equal to $0.25 at any time up to 24 months closing of the Private Placement.

The Company intends to use the net proceeds from the sale of Units towards its exploration and development work on its projects. The primary use of proceeds from this financing will be for the completion of a Prefeasibility Study for the Company’s flagship River Valley Platinum Group Metals (PGM) Project, one of North America’s largest undeveloped primary palladium projects, and for general corporate and working capital purposes. The Company intends to use the net proceeds from the sale of FT Units towards its exploration work on both the Company’s PGM and Lithium divisions. This will include a maiden drill program on the Company’s Lithium Two Project in Manitoba and continued drilling at River Valley.

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New Age Metals $NAM.ca Provides Lithium One Project Surface Exploration Results $NAM.ca $WG.ca $XTM.ca $WM.ca $PDL.ca $GLEN

Posted by AGORACOM-Eric at 8:49 AM on Tuesday, January 12th, 2021
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New Age Metals Inc. (NAM) (TSXV:NAM ) ; ( OTC:NMTLF ) ; ( FSE:P7J) (“NAM” or the “Company”) New Age Metals announces results from the surface prospecting activities at its 100% owned Lithium One Project near Lac du Bonnet, Manitoba.  The project was co-funded by the Manitoba Chamber of Commerce’s administered Manitoba Mineral Development Fund (MMDF).  Work completed on the Property in the fall months of 2020 consisted of field rock sampling and geological mapping. Reported herein are the assay results for grab samples testing the Silverleaf Pegmatite, Greer Lake Quarry, and other locations on the Lithium One Project (Table 1).  

Table 1: 2020 Silverleaf assay result highlights from grab samples.

 -----------------------------------
 |Sample|Li2O (%)|Rb2O (%)|Cs2O (%)|
 |---------------------------------|
 |171878|0.03    |0.13    |0.00    |
 |---------------------------------|
 |171879|3.12    |0.13    |0.02    |
 |---------------------------------|
 |171880|0.15    |0.11    |0.00    |
 |---------------------------------|
 |171881|0.05    |0.02    |0.00    |
 |---------------------------------|
 |171882|1.43    |1.06    |0.08    |
 |---------------------------------|
 |171883|2.06    |0.87    |0.06    |
 |---------------------------------|
 |171886|1.40    |0.47    |0.05    |
 |---------------------------------|
 |171887|2.39    |1.81    |0.26    |
 |---------------------------------|
 |171888|2.82    |2.15    |0.31    |
 |---------------------------------|
 |171889|0.16    |0.17    |0.01    |
 |---------------------------------|
 |171890|1.93    |0.49    |0.04    |
 -----------------------------------

Figure 1:  Newer outcrop exposure of spectacular Spodumene-Lepidolite mineralization at Silverleaf.

Mineral prospecting activities in the fall of 2020 focused on Silverleaf Zone and Greer Lake Quarry (Figures 2, 3, and 4). The purpose of the field work was to examine possible extensions of the Silverleaf Pegmatite and the Greer Lake Pegmatite Quarry. A total of 75 field samples were collected.

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New Age Metals $NAM.ca $NMTLF Corporate Update – Year in Review & Outlook for 2021 $LIX.ca $LI.ca $WM.ca $PDL.ca $GLEN

Posted by AGORACOM-JC at 8:59 AM on Tuesday, December 22nd, 2020
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  • In 2020 the Company’s primary objective was to follow up on recommendations made in the 2019 River Valley Palladium Project Preliminary Economic Assessment (PEA).
  • The River Valley Palladium Project is one of North America’s largest undeveloped primary Platinum Group Metal (PGM) projects. The Project has excellent infrastructure and is within 100 kilometres of the Sudbury Metallurgical Complex. The Project is 100% owned by New Age Metals.
  • The Company completed a three-phase exploration and development plan at River Valley which included drilling, environmental, and archaeological studies.
  • The Company also completed follow-up mapping and sampling programs on its Lithium One Project in Southeast Manitoba. The program was co-funded by the Manitoba Chamber of Commerce’s, Manitoba Mineral Development Fund (MMDF). In December the Company received a drill permit for its Lithium Two Project and a permit is pending for Lithium One. Further drill target definition surveys are being contemplated for 2021.
  • The Company is expecting results and corresponding press releases from both its rhodium evaluation program at River Valley and the surface sampling program from its Lithium One Project in Manitoba before the end of January 2021.
  • The spot price of an ounce of Palladium increased by over 18% in the last year, to $US2,220/oz as at December 21, 2020. Rhodium, which is also present at River Valley, has seen a price increase of over 160% year-to-date to $US16,000/ oz.
  • The Company is actively seeking an option/joint venture partner for our Genesis PGM-Cu-Ni Project in Alaska and for our Lithium division in Manitoba.

December 22, 2020 – Rockport, Canada – New Age Metals Inc. (TSXV:NAM ) | ( OTC:NMTLF ) | ( FSE:P7J) Harry Barr, Chairman & CEO, stated ; “We are pleased to provide shareholders with a year end review of our activities in 2020 and a view of our exploration and development plans for our portfolio of green metal projects in 2021.”

The Company’s primary objective this year was to follow-up on recommendations made in the 2019 River Valley Project PEA. To that end we have completed a three-phase exploration and development plan which included two rounds of drilling, initiated environmental baseline and archaeological studies, and have commenced a phase one rhodium evaluation program with the objective of including rhodium as a payable metal.

As we progress into 2021, we are focused on advancing River Valley to a Prefeasibility study. This would include recommendations to complete metallurgy, hydrogeology, geotechnical surveys, an updated mineral resource estimate, environmental baseline, infill and exploration drilling. Management is currently soliciting quotes from third party engineering firms with the objective of completing a final Prefeasibility budget by the end of February 2021. Subject to the completion of additional funding we plan to initiate this study by the third quarter of 2021 and our objective is to complete the Prefeasibility study by the end of the first quarter of 2022.

Genesis PGM-Cu-Ni Project

The Genesis PGM-Cu-Ni Project is an under explored, highly prospective drill ready property. In 2020 NAM’s management continued to seek an option/joint-venture partner for this road accessible PGM-Cu-Ni Project using the Prospector Generator business model. COVID-19 disrupted property visits which in turn hindered any finalization of a potential option / joint venture deal. The Company paid for all holding costs in 2020 and the project remains in good standing. The stable land status, ease of access and superb infrastructure make this project prospective for year-around exploration, and development.

2020 Exploration and 2021 Plans for Lithium Division

The Company has several Lithium and Rare Element Projects in the Winnipeg River Pegmatite Field, located in South East Manitoba and situated around the Tanco Mine. The world-class Tanco Pegmatite is a highly fractionated lithium-cesium-tantalum (LCT)–type pegmatite that has historically been mined (Tanco Mine) since 1969 for Li, Ta, Cs, Rb and Be ores. The Tanco Pegmatite is a very rich tantalum and cesium deposit with it being the world’s most significant and richest known source of cesium representing more than two-thirds of the world’s reserve.

In 2020, the company conducted a follow-up round of surface exploration work on its Lithium One Project to generate future drill targets. This program was co-funded by a grant from Manitoba Chamber of Commerce’s, Manitoba Mineral Development Fund (MMDF). Over 80 samples have been sent to a laboratory in Saskatchewan and results are expected in January. Samples from a previous work program on the project were taken from the Silverleaf and Annie pegmatites and not only returned significant Li20 assays of up to 4.1% but heightened levels of Rubidium Oxide (Rb2O).

Management plans to make a second application for a grant from the MMDF in 2021. In December 2020 the Company received a drill permit for its Lithium Two Project and the application for a permit on Lithium One was submitted to the Manitoba government. The Company continues to solicit potential option/joint venture partner(s) to continue the development of its Lithium division.

Shares for Services

The Company has issued 135,600 common shares at a deemed value of $0.10 per share to Agora Internet Relations Corp. (“AGORACOM”) pursuant to the terms of the March 2020 agreement. The securities issued represent the fourth payment for services under the terms of the agreement and are subject to a four month plus one day hold period expiring April 22, 2021.

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

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, multi-million-ounce, district scale River Valley Project, one of North America’s largest undeveloped Platinum Group Metals Projects, situated 100 km from Sudbury, Ontario. The Company has recently completed a Preliminary Economic Assessment on the project and is working towards Prefeasibility. In Alaska the Company owns 100% of the Genesis PGM-Cu-Ni Project.

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-Cu-Ni project in Alaska and for our Lithium division in Manitoba.

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.

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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Posted by AGORACOM-JC at 10:37 AM on Friday, December 18th, 2020

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