Phase 1 Drone Magnetic Survey Completed - Phase 2 Commencing

ROCKPORT – New Age Metals Inc. (NAM) has received the initial data and preliminary report from EarthEx with regards to the Drone Magnetic Survey flown on three of the company’s Lithium Projects in SE Manitoba. The claims are held by Lithium Canada Development, a wholly owned subsidiary of New Age Metals. 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. 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.

The new geophysical magnetic data is being reviewed by the NAM technical team and a news release will follow once the review is complete. As well, EarthEx is generating an additional set of maps for a more in-depth analysis of the data. Preliminary reviews show a correlation of the known surface exposed Eagle Pegmatite on the Lithium Two Project and the UAV magnetic data. NAM has contracted EarthEx to conduct a second phase of a UAV-Borne Magnetometry Survey over the company’s Lithman East and Lithman North Projects. A third phase of UAV work is planned for later in the summer of 2021 to cover the Lithman East Extension and Lithium One Projects.

The Phase One UAV-Borne Magnetometry Survey was co-funded by the Manitoba Mineral Development Fund, a mineral fund sponsored and managed by the Manitoba Chamber of Commerce.

Lithium pegmatites are known to express anomalously low magnetic susceptibility, resulting in a magnetic low anomaly in most terrains. The advent of the high-resolution low-flying UAV magneto-metric surveying system used by EarthEx represents a new and efficient way to define exploration targets and map the presence and extent of these types of deposits, without any surface disturbance.