Funding Approved For Advancement Of The Winnipeg River-Cat Lake Projects

ONTARIO - New Age Metals Inc. (NAM) in conjunction with its Farm-in/Joint Venture agreement with Mineral Resources Ltd. (MRL) reported approval to fund advancement of the Winnipeg River-Cat Lake Lithium Projects. The approved budget includes ongoing and recently completed geophysical surveys, soil and rock geochemical sampling grids, mapping/prospecting, as well as 15,000 meters of diamond drilling set to commence early January 2024. The program is designed to test several target areas on the Lithium Two, Lithman West, Lithman East, Cat Lake and Bird River properties.

New Age Metals maintains an active exploration agreement with the Sagkeeng First Nation and will be working with Sagkeeng on these projects. The company is conducting its program with the support of its partners Mineral Resource Limited.

Chairman and CEO, Harry Barr, said, “We are exceptionally pleased to announce the largest lithium exploration budget in Manitoba for the 2023/24 season. Our partner Mineral Resources clearly understands the exploration business and we are happy for their technical and financial support. New Age Metals was early in the Manitoba rush to acquire large tracts of lithium and REE projects. Our 2023/24 budget illustrates the confidence our combined companies have in the future of lithium and REEs in Manitoba.”