Boreal Metals: Guldgruvan Cobalt Project Acquisition Completed

Boreal Metals Corp. (“Boreal” or the “Company”) (TSXV:BMX) is pleased to announce that it has completed the acquisition of the Guldgruvan Project (“Guldgruvan” or the “Project”) from EMX Royalty Corporation (“EMX”) (NYSE American: EMX; TSXV:EMX).  Pursuant to the terms of the purchase and sale, Boreal has issued to EMX 2,979,798 common shares of Boreal Energy Metals Corp. (“BEMC”).  Prior to this transaction, BEMC had been a wholly owned subsidiary of Boreal.  This acquisition brings EMX’s equity ownership in BEMC to 5.9%.  EMX will have the right to maintain its 5.9% interest, at no additional cost to EMX, until BEMC has raised CDN$3,000,000 in equity. Thereafter, EMX will have the right to participate pro-rata in future financings at its own cost to maintain its 5.9% interest in BEMC.  The TSX Venture Exchange has approved the transfer of the Guldgruvan exploration licenses from EMX to BEMC, subject to customary final filings.

As quoted in the press release:

“Boreal is proud of the exceptional portfolio of battery metals projects it continues to acquire through its new subsidiary, Boreal Energy Metals Corp.” stated President and CEO, Karl Antonius.  “Demand in the battery metals sector continues to grow rapidly regionally and globally.  Boreal now controls over 15,000 hectares in two projects with known cobalt mineralization and historic production, making Boreal a key regional investor in cobalt exploration project land holdings.”

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