New Age Metals Inc. (TSXV:NAM; OTCQB:PAWEF; FSE:P7J.F) provided an update on the exploration program on the River Valley PGM project and 5 Manitoba Lithium Projects.
Upon completion of the present geophysical program, the company will outline a series of drill programs to test the new geophysical anomalies generated from T4 through T9 from the 2018 Abitibi survey and outline additional drilling to the north in Pine Zone and T3 where only Phase 1 Drilling has been completed to date.
- Complete ground IP geophysics (Q1 2018);
- Complete a new resource calculation (slated for end of Q1 2018);
- Continue with drilling in the northern portion of the project (slated for Q3-Q4 2018 & Q1 2019);
- Explore more target areas based on recommendations of the updated 43-101 and the 2018 geophysics (slated for Q3-Q4 2018 & Q1-Q2 2019);
- Complete mineralogical studies (Q2 2018).
- Continue to advance the River Valley PGM Project towards a Preliminary Economic Assessment (PEA) on the River Valley PGM Deposit; and
- Our corporate mandate is to build a series of open pits (bulk mining) over the 16 kilometers of mineralization. We will concentrate on site and ship concentrates to Sudbury.
In early February, our President Trevor Richardson was in South Africa attending 3 conferences with a full schedule, including two 1-2-1 style conferences with over 25 pre-booked meetings with mine finance companies, major mine companies, institutions, stock brokers, and high net worth individuals. In mid-February, Harry Barr (CEO) and Paul Poggione (Corporate Development), had a minimum of 25 pre-booked meetings at the Capital Event Conference in Whistler to meet new and existing investors, stockbrokers and institutions. In March, the entire New Age Metals team assembled in Toronto. We attended the RAI$E Capital 1-2-1 event, where at least 25 different groups were presented NAM’s corporate mandate via our slide deck. On the Saturday before the Prospectors and Developers Association Convention (PDAC), we had various meetings at the Metals Investor Forum Conference. Our main event, the PDAC in Toronto, the world’s largest mining convention, is where our company hosted a small hospitality room that doubled as a boardroom and over 40 meetings were completed to continue our New Age Metals market awareness program. Several meetings were held with prospectors, junior mining companies, and major mining companies, to advance our objectives. Our President, Trevor Richardson was asked to speak in two packed rooms, one for the Canada-China Investment Conference and the second in the Ontario Pavilion, both talks were focused on advanced stage mineral projects in Ontario. Management of NAM believes that the 2018 PDAC was one of the best attended and most positive mining conferences in recent years.Third Party Social Media, Digital Marketing, and U.S. Radio Campaigns
In the first quarter of 2018, NAM signed contracts with Stockhouse.com, Investing News Network (a fully owned subsidiary of Dig Media Inc.), and International Mining Research. These programs will augment our existing programs with Palisade Global, Agoracom, Alpha Stoxx, and Star IR. We are pleased to be working with these companies whose platforms provide content and contact with thousands of investors every day. In early March, to add to our U.S. marketing program and our OTC listing (U.S. Trade Symbol: PAWEF).
NAM has signed contracts with NYC Radio, LLC, Corporate Profile Minute on the Larry Kudlow Show, which is featured on over 150 radio stations coast to coast, and the Ellis Martin Report, which is broadcasted on 100 terrestrial stations in the United States and worldwide via the VoiceAmerica Business Channel.
The Company also announces that it will make an application to the TSX Venture Exchange to amend the terms of 7,124,553 (post-consolidated) share purchase warrants, (the “Warrants”) by extending the expiry date and amending the exercise price.
Subject to TSX Venture Exchange approval, the original expiry date of March 28, 2018 is proposed to be extended to March 28, 2020 and the original exercise price of $0.15 (post-consolidated) per share is proposed to be amended to $0.20 in the first year and $0.25 in the second year. The terms of each Warrant to be amended will include an accelerated expiry clause, such that the exercise period of the Warrants will be reduced to 30 days if, for any 10 consecutive trading days during the unexpired first year term of the Warrants, the closing price of the Company’s shares is $0.25 or more and during the unexpired second year term of the Warrants, the closing price of the Company’s shares is $0.30 or more. All other terms and conditions will remain the same.
If you have not done so already, we encourage you to sign up on our website (www.newagemetals.com) to receive our updated news.
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.