Green Battery Minerals ("Gem") Acquires Additional Graphite Bearing Claims to Extend the Berkwood Graphite Project
VANCOUVER, BRITISH COLUMBIA – TheNewswire - February 23rd, 2023 GREEN BATTERY MINERALS INC. (the “Company”) (TSXV:GEM), (FSE:BK2P), (WKN:A2QENP) (OTC:GBMIF) is pleased to announce the acquisition of 1,1622.30 hectares of mineral claims semi-contiguous to the Berkwood Graphite Project (“Berkwood”), located in Northern Quebec. In consideration for 100% interest in the new claims, the Company has agreed to issue to the property vendor a warrant to purchase up to 613,000 common shares, exercisable at the price of $0.09 per share for three years from the approval date. This is an arm's length transaction, and there are no finders' fees payable. The terms of this transaction are subject to regulatory approval. The securities to be issued will be legend with the required four months plus one day from issuance.
Table 1: New Claims List.
The Company purchased these new claims as they are semi-contiguous to the Companies Berkwood Project. The Berkwood Project features multiple graphite deposits and outcrops. The newly acquired claims also have similar geological and geophysical features as Berkwood, and sampling has produced high-grade Graphite at the surface. The properties are road accessible with excellent infrastructure nearby.
Tom Yingling, President and CEO of Green Battery, states, “I am pleased to announce the acquisition of these new Graphite claims, as our goal is to expand our Graphite property land holdings in Quebec. These new claims have been added to the Company's land holdings because they are 100% owned, road accessible, and have similar geological and geophysical features as our Berkwood Graphite project. The Company has a 43-101 Graphite resource estimate of indicated and inferred of 3.2 million tonnes on its Berkwood Graphite project, and these new claims are semi-contiguous to it.”
Qualified Person: Luke van der Meer (P.Geo) is a Qualified Person (“QP”) as defined by National Instrument 43-101 guidelines, and he has reviewed and approved the technical content of this news release.
About the Company: Green Battery Minerals is managed by a team with over 150 years of collective experience with a proven track record of not just finding numerous mines but building and operating them as well. The Green Battery Minerals management team’s most recent success is discovering the Berkwood graphite deposit in Northern Québec. Green Battery Minerals owns 100% of this asset and the Company’s shareholders will benefit from this asset as the demand for graphite for electric vehicles increases significantly.
The current mineral resource at the Berkwood Graphite Project includes in-pit constrained resource totalling 1,755,300 tonnes of indicated resources at 17.00 % Cgr and 1,526,400 tonnes in inferred resources at 16.39 % Cgr.
In-pit Resource at Lac Gueret South Project (rounded numbers)
The mineral resource estimates above are described in the technical report entitled, NI 43-101 Technical Report Mineral Resource Estimate on the Lac Gueret South Graphite Property, Quebec, Canada. With an Effective date of June 19th, 2019, dated June 30th, 2019, by Edward Lyons, PGeo., Florent Baril, ing., and Claude Duplessis, ing. Link to Report:
On Behalf of the Board of Directors
Green Battery Minerals lnc.
President, CEO & Director
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Disclaimer for Forward-Looking Information:
Certain statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include that the Company will carry out the drill program described in this news release, conduct the Offering and expend funds on Berkwood Graphite Project exploration. It is important to note that the Company’s actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that further permits may not be granted timely or at all; the mineral claims may prove to be unworthy of further expenditure; there may not be an economic mineral resource; methods we thought would be effective may not prove to be in practice or on our claims; economic, competitive, governmental, environmental and technological factors may affect the Company’s operations, markets, products and prices; our specific plans and timing drilling, field work and other plans may change; we may not have access to or be able to develop any minerals because of cost factors, type of terrain, or availability of equipment and technology; and we may also not raise sufficient funds to carry out our plans. Additional risk factors are discussed in the section entitled “Risk Factors” in the Company’s Management Discussion and Analysis for its recently completed fiscal period, which is available under Company’s SEDAR profile at www.sedar.com. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. Except as required by law, we will not update these forward-looking statement risk factors.
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