Battery Metals

Northern Graphite Corporation (TSXV: NGC) (OTCQB: NGPHF) (the "Company" or "Northern") is pleased to announce that ProGraphite GmbH has completed the first phase of testing designed to characterize and optimize the Company's graphite concentrates for use in advanced applications such as fuel cells, lithium ion batteries ("LiBs") and flow batteries as well as in traditional markets.

ProGraphite concluded that graphite from the Bisset Creek deposit has an almost unique combination of high carbon content and extremely coarse particle size distribution. These grades are in high demand, availability is relatively low and prices are the highest of any standard graphite concentrate types. ProGraphite indicated that the greatest potential for Bissett Creek graphite is in the fast-growing expandable graphite market, especially with respect to its use in the manufacture of bipolar plates for hydrogen fuel cells. A second phase of testing has commenced to characterize it for use in lithium ion batteries.

Gregory Bowes, CEO commented that: "Characterization work continues to confirm the industry leading quality of Bissett Creek concentrates. There are no limits to the applications for which it can be used and it is especially suitable for the fuel cell market." He added: "Like the lithium ion battery market, the expandable graphite market is dominated by China for all the wrong reasons. The west needs secure, transparent and sustainable sources of supply to support growth in the fuel cell industry which will be an important contributor the green energy economy."

ProGraphite is located in Germany and is one of the world's leading graphite R&D laboratories with over several decades of professional expertise and experience. It's testing demonstrated that graphite from the Bissett Creek deposit also meets or exceeds the requirements for a wide range of very important traditional applications such as refractories, crucibles, friction products, carbon brushes, sealants, etc. Notable results include:

  1. Over 77 per cent of the concentrate was +80 mesh (large) flake and almost 50 per cent was +50 mesh (XL) which is "one of the highest values found in all worldwide flake graphite deposits".
  2. The average graphitic carbon ("Cg") content was 97.5 per cent which is a very high purity level for concentrates produced by flotation alone.
  3. The expansion rates for all large size fractions were significantly above industry norms. For +80 mesh (large) and +50 mesh (XL) flake they were 490 and 540 ml/g respectively. Industry standards for "good" expandable graphite are minimum 250 ml/g and 350 ml/g for +80 mesh and +50 mesh respectively.
  4. The oxidation resistance of the graphite is remarkably high making it very suitable for refractories and other hot environment applications.
  5. The bulk and tap density of practically all screen sizes is higher than the average of graphite concentrates from other sources which is desirable for most applications.
  6. Attritioning (polishing) increased the carbon content in all size fractions and in the smallest fraction (-100 mesh) the increase was enormous. After attritioning, all sizes were well over 98 per cent Cg which is an excellent result, and 99 per cent Cg was achieved in one test. There was little flake size degradation.
  7. Concentrate purity easily reached 99.63 per cent Cg using standard acid purification techniques, demonstrating that Bisset Creek graphite is amenable to upgrading for the LiB and other high purity markets.

About Northern Graphite

Northern Graphite is a mineral development and technology company focussed on developing its Bissett Creek graphite deposit and upgrading mine concentrates into high value components used in lithium-ion batteries, electric vehicles, fuel cells, graphene and other advanced technologies. An independent study estimates that Bissett Creek will have the highest margin of any existing or proposed graphite deposit due to its very favorable location, simple metallurgy and the high quality of its concentrates which the Company believes will provide a competitive advantage in manufacturing products for the green economy.

Bissett Creek is an advanced stage project with a full Feasibility Study and its major mining permit which puts the Company in position to make a construction decision, subject to financing. The Project is located in the southern part of Canada between the cities of North Bay and Ottawa and close to the Trans-Canada highway providing ready access to labour, supplies, equipment, natural gas and markets.

Why Graphite is the Cinderella of the Green Energy Revolution


Qualified Person

Gregory Bowes, B.Sc. MBA, P. Geo., a Qualified Person as defined under National Instrument 43-101, has reviewed and is responsible for the technical information in this news release.

For additional information

Please visit the Company's website at http://www.northerngraphite.com/investors/presentation/, the Company's profile on www.sedar.com, contactGregory Bowes, CEO (613) 241-9959 or visit our Social Channels.

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This news release contains certain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements and information are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "possible" and other similar words, or statements that certain events or conditions "may", "will", "could", or "should" occur. Forward-looking statements in this release include statements regarding, among others; economic and technical studies, graphite prices, project economics, permitting, the development timeline and the graphite market.All such forward-looking statements are based on assumptions and analyses made by management based on their experience and perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate in the circumstances. However, these statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected including, but not limited to, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of other parties to perform as agreed; social or labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure and the failure of ongoing and contemplated studies to deliver anticipated results or results that would justify and support continued studies, development or operations. Readers are cautioned not to place undue reliance on forward-looking information or statements.

Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/81707

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Northern Lights

Northern Lights

Overview

Northern Lights Resources Corp. (CSE:NLR) is a growth-oriented exploration and development company with promising projects in Nevada and Arizona.

In Arizona, Northern Lights Resources owns 100 percent of the Secret Pass gold project. Secret Pass is located 15 kilometers north of the historic Oatman gold mining district in northwest Arizona that produced 2 million ounces of gold between 1892 and 1940 at an average gold grade of over 15 g/t.

Over the last several years, the area has been rediscovered with several gold exploration and production projects active. Producing gold projects in the area include the Northern Vertex Corp.’s (TSXV:NEE) Moss mine, which is an open-pit heap leach operation, as well as the Gold Roads underground mine operated by Aura Minerals (TSX:ORA).

The Tin Cup mine at Secret Pass operated from the early 1900s to approximately 1930.

Exploration drilling completed at Tin Cup from 1984 to 1991 by Santa Fe Gold and other companies intersected high-grade gold mineralization from near-surface to a depth of approximately 180 meters. The average depth of the 145 historic holes completed on the Secret Pass property was 95 meters. Assay results from the historic drilling at Tin Cup ranged up to 40 g/t Au.

Prior to ownership by Northern Lights, exploration on the Secret Pass Gold Project was limited to the Tin Cup and FM zones that represent only 10 percent of the total project area. Ninety percent of the claim area has never been explored by modern methods and technology. There are over 20 historic workings that have been identified on the Secret Pass claim area.

Exploration work completed by Northern Lights during 2020 has identified significant potential for high-grade gold mineralization at the Tin Cup and FM zones plus the newly identified Fiery Squid zone as well as 20 additional targets based on field work and aeromagnetic and IP geophysical survey results.

The Secret Pass Gold Project is a promising gold exploration property with no production royalty NSR allowing NLR shareholders potentially significant exploration upside.

Northern Lights Resources’ second strategic property is the Medicine Springs silver, lead and zinc project located in Elko County in North Eastern Nevada.

The Medicine Springs project comprises 149 unpatented Federal mineral claims covering 1,189 hectares located in the Ruby Mountains Valley just off the famous Carlin Trend. The Medicine Springs project has the potential to host a large scale high grade silver-zinc-lead Carbonate Replacement Deposit (CRD) deposit.

On October 5, 2020, Northern Lights announced a Option and Joint Venture Agreement with Reyna Silver Corp. (TSXV:RSLV) on the Medicine Springs silver project.

Under the terms of the Agreement, Reyna Silver can earn up to 80 percent equity in the Medicine Springs Project by completing minimum exploration expenditures of US$2.4 million plus other commitments and paying a cash payment of US$1 million to Northern Lights by no later than December 31, 2023. Northern Lights has a free carry (with no future repayment) until Reyna Silver has spent US$4 million on exploration on the project.

Dr. Peter Megaw, Technical Advisor to Reyna Silver, commented: “Medicine Springs ticks the most important boxes we look for in CRD exploration including location on a large regional structure that hosts significant CRDs, situated at the top or a thick section of potentially favorable carbonate host rocks and evidence of high silver grades. Some of the dump and rock chip samples run well over our 400 g/t (12 oz/t) silver threshold and it is quite likely that similar grades were diluted by the Reverse Circulation drilling used historically in the district. We will be drilling core to get a true picture of the clearly structurally-controlled mineralization as we trace it towards its source.”

Northern Lights Resources’ management team and insiders, currently own a 30 percent stake in the company. Led by an experienced board with strong capital markets and project development expertise. Northern Lights Resources is well financed, no debt and will shortly be drilling on both properties.

Company Highlights

  • Successfully closed a non-brokered private placement of $2.1 million in September 2020
  • Debt free with over $1.5 million of cash to progress exploration on Secret Pass
  • Both projects are situated in mining-friendly jurisdictions in the US.
  • Both projects are drill ready.
  • Signed Option/Joint Venture agreement with Reyna Silver to acquire up to 80 percent of the Medicine Springs property, allowing Northern Lights Resources to focus on Secret Pass and future possible property acquisitions
  • Potential for high-grade silver and large scale CRD silver zinc lead deposit at Medicine Springs.
  • Significant exploration upside potential with drilling to begin on Secret Pass
  • Strong, experienced management team and board.

Key Projects

Secret Pass Gold Project

In July 2019, Northern Lights Resources acquired the 868 hectare Secret Pass gold project in Mohave County, northwestern Arizona. The project is located 13 kilometers south of the Oatman-Katherine gold district. Established in 1863, the district is Arizona’s third-largest gold-producing area. It is reported that the region produced over two million ounces of gold and one million ounces of silver between 1870 and 1940 at an average grade of over 15 g/t Au.

Over the last several years the area has been rediscovered with several gold exploration and production projects active. Producing gold projects in the area include Northern Vertex Corp.’s Moss mine, which is an open-pit heap leach operation, as well as the Gold Roads underground mine operated by Aura Minerals.

Mining records indicate that there were over 20 historic mine workings on the property.

Exploration drilling completed at Tin Cup from 1984 to 1991 by Santa Fe Gold and other companies intersected high-grade gold mineralization from near-surface to a depth of approximately 180 meters. The average depth of the 145 historic holes completed on the Secret Pass property was 95 meters. Assay results from the historic drilling at Tin Cup ranged up to 40 g/t Au.

There was no exploration work completed on the property between 1991 and 2019 when Northern Lights purchased 100 percent interest in the Secret Pass Project.

During 2020, Northern Lights has completed significant geological fieldwork on Secret Pass including:

  • Airborne drone photogrammetry mapping survey (completed May/Sept 2020)
  • Airborne drone magnetic survey and interpretation (completed Sept 2020)
  • Geological mapping and stream sediment and panned concentrate sampling (Sept/October 2020)
  • Reinterpretation of historical IP survey data
  • A detailed review of historical geological work and GIS digitization and orientation of historic data

Exploration work completed by Northern Lights during 2020 has identified significant potential for high-grade gold mineralization at the Tin Cup and FM zones plus the newly identified Fiery Squid zone as well as 20 additional targets based on field work and aeromagnetic and IP geophysical survey results.

Work completed by Northern Lights indicates that historic drilling has only tested the upper part of the potential epithermal gold zone at the Tin Cup and FM prospects.

Secret Pass Geological Model

Northern Lights has announced an initial 1,600 metre drill program at Secret Pass to be completed in 2020.

Northern Lights Resources Medicine Springs project

Overview

Comprised of 149 unpatented mineral claims and totaling 1,206 hectares in Elko, Nevada, the Medicine Springs project is focused on targeting the property’s silver-lead-zinc deposits. Northern Lights Resources holds an option to acquire a 100 percent interest in the project over a six year term. Between 1910 and 1956, the project produced 160 tonnes of lead, 800 kilograms of zinc and 500 kilograms of silver from its mine shafts and shallow surface digging.

Exploration

Since acquiring the Medicine Springs Project in 2017, Northern Lights has completed exploration work including detailed geological mapping, rock sampling, an analysis of historic geophysical survey data (CSAMT and IP), a review of historic exploration drilling, an aeromagnetic survey and an Ionic Leach soil geochemistry survey.

The historic 125 shallow Reverse Circulation drill holes on the Medicine Springs Project encountered partially oxidized silver-zinc-lead mineralization at depths of up to 180 meters intersecting silver grades of up to 225 g/t. An extensive rock sampling program was completed in 2018 with a total of 66 samples collected in conjunction with surface mapping. Of the 66 samples collected, 27 samples assayed greater than 20 g/t silver and there were 17 samples with silver assays exceeding 100 g/t and a maximum value of 559 g/t. The Ionic Leach soil geochemistry survey completed in 2019 defined a strong coherent NE trending silver-zinc-lead anomaly which measures more than 2,000 meters in length and ranges up to 500 meters in width.

The results of the exploration work completed by Northern Lights at the Medicine Springs Project highlight the potential for significant silver-zinc-lead mineralization including the potential for high-grade CRD style mineralization.

On October 5, 2020 Northern Lights announced an Option and Joint Venture Agreement with Reyna Silver Corp.

Under the terms of the Agreement, Reyna Silver can earn up to 80 percent equity in the Medicine Springs Project by completing minimum exploration expenditures of US$2.4 million plus other commitments and paying a cash payment of US$1 million to Northern Lights by no later than December 31, 2023. Northern Lights has a free carry (with no future repayment) until Reyna Silver as spent US$4 million on exploration on the project.

Northern Lights has an initial approved exploration drill program of approximately 4,900 meters in place for the Medicine Springs Project. Reyna Silver intends to start work on the property immediately with a focus on evaluation and the start of exploration core drilling.

Dr. Peter Megaw, Technical Advisor to Reyna Silver, commented, “Medicine Springs ticks the most important boxes we look for in CRD exploration including location on a large regional structure that hosts significant CRDs, situated at the top or a thick section of potentially favorable carbonate host rocks and evidence of high silver grades. Some of the dump and rock chip samples run well over our 400 g/t (12 oz/t) silver threshold and it is quite likely that similar grades were diluted by the Reverse Circulation drilling used historically in the district. We will be drilling core to get a true picture of the clearly structurally-controlled mineralization as we trace it towards its source.”

“The geological and geochemical characteristics of the Medicine Springs mineralization strongly suggest a distal carbonate replacement setting related to a concealed molybdenum porphyry system. The geochemical signature and style of mineralization observed at Medicine is similar to other carbonate-hosted, silver-rich base metal veins, CRD and skarns deposits developed peripheral or above copper-molybdenum porphyry stocks,” said Northern Lights Resources Head Geologist Gary Artmont.

Medicine Springs CRD Geological Model

In 2019, soil geochemistry survey and rock sampling identified a large silver zinc lead anomaly in a previously unexplored area of the Medicine Springs claims. The prospective zone of mineralization is up to 1,800 meters in length and up to 550 meters wide. Surface samples showed silver grades of over 400 g/t in multiple samples. This area will be tested by a drill program in 2020/21.

Medicine Springs Project – Rock Assays / Ionic Leach Ag-Zn-Pb Soil Anomaly

Management Team

Albert (Rick) Timcke — Executive Chairman, President and Director

Rick Timcke is a Vancouver-based entrepreneur and financier who has been involved in public equity market roles for more than 30 years. He specializes in the marketing, funding, restructuring and formation of Canadian-based resource issuers listed on both Canadian and US exchanges. Over his career, he has held senior roles in listed public companies ranging from Investor Relations to being an Officer and Director. Previously held positions include: CEO of Northern Lights Resources Corp., Director of LiCo Energy Corp., Investor Relations of Nevada Energy Metals Inc., Corporate Development and Investor Relations of Auracle Resources Ltd., President, CEO and Director of Tajiri Resources.

Jason Bahnsen — CEO and Director

Mr. Bahnsen is a Canadian mining engineer with over 30 years of experience in natural resources finance and operations. Jason’s career has spanned a broad range of roles in the resources industry. He began his career in mine development, working for underground mine contracting companies in Canada, Indonesia and Australia. He has held production roles at several gold and base metal mine operations in capacities as mine planning engineer, project engineer and shift boss. Following several years working with Rio Tinto in Australia where Jason was involved in mine feasibility study work and business development roles, he moved into investment banking. Jason spent approximately 10 years working as a resource banker working with firms including Deutsche Bank, Macquarie Bank and Fox Davies Capital on major international resource acquisition and equity market transactions. Following a successful career in banking, Jason became involved in resource company development and has held CEO roles for several private and listed resource exploration and development companies. Mr. Bahnsen holds a B.Sc. in Mining Engineering from the Queen’s University in Kingston and an MBA from University of New England, Australia.

Mr. Richard A. Kelertas, BscF. MscF. — Independent Director

For over 35 years, Mr. Kelertas has held various positions in corporate Canada, encompassing sales, marketing, corporate development, corporate banking and equity capital markets. For 25 years, he has been a top ranked Equity Analyst and worked for firms including Dundee Canada, Scotia McLeod, National Bank of Canada, and Mercantile Bank of Canada. Mr. Kelertas was recently Manager – Special Projects (Pulp & Paper) at Resolute Forest Products Ltd., and before that served as Senior Vice President of Corporate Development At Allana Potash Corp. from May 1, 2012 to July 28, 2015. Ear;y in his career Richard worked in the resources division of Noranda Inc and held various sales, marketing and corporate development positions. He has served as a Director of Strata Minerals Inc. From July 24, 2012 to April 01, 2016 and was CEO of Celeste Mining Corp. from March 2013 until November, 2015.

Gordon Tainton — Independent Director

Mr. Tainton has over 27 years of experience at senior management levels in various sectors of the commodity trading and distribution. Within management teams, he has financed and developed port/terminal projects for bulk liquid and solid products in the Americas, Asia and Oceania. He spent eight years with Sumitomo Corp. of Tokyo sourcing, purchasing and delivering key industrial mineral commodities. Since 2010 Mr. Tainton has held various executive and non-executive Board positions in both public and private companies.

Graham Keevil — Non-Executive Director

Graham Keevil brings 13 years of public company experience; specifically in the funding and management of Publicly Traded Resources Issues. Graham has worked with Teck Resources, Selkirk Metals, Pure Diamonds, Cross Lake Minerals, and a variety of other public ventures. Graham has been President of Tajiri Resources since July 2013.

Leon Ho, CPA — CFO

Leon Ho is a chartered professional accountant working at Cross Davis & Company LLP, a chartered professional accountant firm providing accounting services to publicly-listed entities, primarily in the mining sector. He works directly with mining CEOs and directors assisting with their regulatory and accounting needs.

Northern Lights Resources’ Geological Team

Northern Lights has a strong experienced in-house geological team with many years of experience in exploration globally. The company employs advanced geological exploration and geophysics to do fundamental exploration work on its projects. Critical time is spent completing background geological work including mapping, sampling, aeromagnetic, IP geophysics, ionic leaching soil geochemistry, spectral analysis and GIS geological modelling to get an understanding of the geological systems for each project prior to drilling. The team is led by Gary Artmont one of the foremost epithermal and porphyry exploration geologists globally. Northern Lights has in-house GIS expertise that allows the company to utilize 3D modeling of all historic information together with new geological information to get a clear picture of the structure and potential of each deposit.

Gary Artmont — Head Geologist

Gary Artmont is a senior exploration geologist with over 40 years of international experience in regions including Canada, USA, Mexico, South America, Indonesia, Africa, Russia, China and Mongolia. He is a fellow member of AUSIMM and qualified to write NI 43-101 or JORC Competent Person reports. His exploration background extends from grassroots to project pre-feasibility studies. His working experience related to a wide variety of mineral settings that include precious metals, ferrous and non-ferrous metals, industrial and energy commodities. He has held senior positions with Rio Tinto, Kennecott Australia, Freeport McMoran Indonesia, Union Carbide, Norilsk Nickel and Ivanhoe Mining. From 1989 to 1995, he served as the chief exploration geologist for Freeport responsible for conducting exploration over a 57,000 square kilometer contract of work surrounding the world-class Grasberg deposit.

Mr. Paul Q Warren — Project Geologist

Paul is a highly experienced and certified Professional Geologist with over 25 years of experience in exploration, geotechnical, structural geology and mine operations based in Tucson, Arizona. From 1995 to 2017, Paul worked for PT Freeport McMoran at the company’s copper and gold mine in Irian Jaya, Indonesia (one of the largest copper-gold mines in the world). Paul held a range of operating and management positions at Freeport including Exploration Geologist, in which he conducted helicopter assisted exploration in remote locations, as well as General Superintendent roles leading and training Freeport geological teams in resource, geology and hydrology modelling. Paul is an expert at computer based modeling and early stage exploration of Cu-Au porphyry skarn deposits. Paul holds a Master of Arts in Geology and a Bachelor of Science Geology from University of Texas.

Mr. William (Bill) Tafuri — Geological Consultant

Bill oversees Northern Lights exploration at Medicine Springs. Bill has over 40 years of experience working on a wide range of gold and base metals exploration and development projects throughout USA, Indonesia, Kyrgyzstan, Kazakhstan and Russia. Bill’s experience includes senior roles with: Getty Mining Company, at which he managed exploration and project evaluation for porphyry copper as well as gold projects; Senior Geologist at Santa Fe Gold and subsequently Newmont Gold; Phelps Dodge where he directed and lead local geological teams in Kazakhstan and evaluated gold and polymetallic deposits; and Chief Geologist for Kinross Gold, where he was responsible for all exploration projects in the Western Hemisphere. Bill holds a Ph.D. in Geology from the University of Utah and a Masters in Geology and a Bachelor of Science in Geology from the University of Nevada. Bill is based in Park City, Utah.

NMG Provides a Quarterly Update amid Favorable Shift in Battery Material Market Conditions

  • Enhanced engagement towards offtake agreement with potential tier-1 customers in the EV and battery sector with the production of A and B samples, site visits, quality checks and commercial discussions.
  • OEMs, feeling the supply chain pressure, are turning their attention upstream to secure supplies and reduce their risks as projections indicate a flake graphite deficit of nearly 2 million tonnes per annum by the end of the decade.
  • Timely progress on construction of the Company's Phase-1 coating unit, commissioning still targeted to start before the end of H1-2022 to complete NMG's vertically integrated 2,000-tpa nameplate ore-to-battery-material value chain.
  • Significant advancement (75%) of engineering, project management, the mining plan update and economic structure for NMG's integrated 43-101-compliant feasibility study for the Phase-2 Bécancour Battery Material Plant and Matawinie Mine; conclusions planned to be announced before the end of Q2-2022.
  • Continuous progress of detailed engineering for Phase-2 Matawinie Mine.
  • Progress in structuring and securing project financing for the construction and development of the Phase-2 Bécancour Battery Material Plant and Matawinie Mine; NMG has received non-binding letters of interest from two Export Credit Agencies.
  • Safe operational and construction activities with a period-end OSHA rate of 0 at the Company's facilities and 0 for contractors' work, with no major environmental incident.
  • Period-end cash position of $43.5M.

Nouveau Monde Graphite Inc. ("NMG", "Nouveau Monde" or the "Company") ( NYSE: NMG , TSXV: NOU ) completed another quarter of diligent progress towards the establishment of what is projected to be North America's largest and first fully integrated ore-to-battery-material natural graphite production in a context of accelerated growth in the battery space and sustained pressure on supply chains. NMG maintained its focus on the completion of its Phase-1 production line with the construction of its coating unit and the advancement of its Phase-2 operations through process optimization, engineering, procurement planning, preparatory work and updated economics modelling.

New variants of COVID-19 forcing lockdowns in China, the Russia-Ukraine war as well as continued consumer enthusiasm for cleantech are creating significant pressure on raw materials sourcing for battery and electric vehicle ("EV") manufacturers. As supplies tighten, demand continues to increase, with now more than 6,200 GWh of global lithium-ion battery production capacity expected by 2031 (Benchmark Mineral Intelligence, April 2022). Correspondingly, projections forecast a flake graphite deficit of nearly 2 million tonnes per annum ("tpa") by the end of the decade.

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ELECTRIC ROYALTIES CLOSES $3.45 MILLION MARKETED PUBLIC OFFERING

ELECTRIC ROYALTIES CLOSES $3.45 MILLION MARKETED PUBLIC OFFERING

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION TO THE UNITED STATES ./

All amounts in Canadian dollars unless otherwise stated

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South Star Battery Metals Invites You to Join Us at the Vancouver Resource Investment Conference

South Star Battery Metals Invites You to Join Us at the Vancouver Resource Investment Conference

South Star Battery Metals Corp. ("South Star" or the "Company") (TSXV: STS) (OTCQB: STSBF) would like to cordially invite you to visit us at Booth #933 at the Vancouver Resource Investment Conference (VRIC) to be held at the Vancouver Convention Centre West (1055 Canada Place, Vancouver) on Tuesday May 17 Wednesday May 18, 2022.

Former Prime Minister of Canada Stephen Harper and Former President of Mexico Felipe Calderon are two of the marquee speakers at the 2022 Resource Investment Conference. The Vancouver Resource Investment Conference (VRIC) will host over 100 international keynote speakers covering the hottest topics in finance, economics and geopolitics on May 17th and 18th, 2022.

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ELECTRIC ROYALTIES PROVIDES DEVELOPMENT UPDATE ON ROYALTY PORTFOLIO

ELECTRIC ROYALTIES PROVIDES DEVELOPMENT UPDATE ON ROYALTY PORTFOLIO

Electric Royalties Ltd. (TSXV: ELEC) (OTCQB: ELECF) ("Electric Royalties" or the "Company") is pleased to provide an asset update on its current royalty portfolio.

Electric Royalties Ltd. Logo (CNW Group/Electric Royalties Ltd.)

Brendan Yurik , CEO of Electric Royalties , commented: "We are excited that our Graphmada graphite and Seymour Lake lithium royalty assets are nearing the completion of mineral resource upgrades. We've already had 17 development updates across 10 royalties in our portfolio thus far in 2022, funded at no cost to Electric Royalties. As we expand our royalty portfolio even further, the value added to our royalties is a key benefit that we offer our shareholders."

Highlights since the Company's previous development update on April 13, 2022 :

  • Graphmada Graphite Royalty – Greenwing Resources Ltd. (ASX: GW1) announced on April 13, 2022 that it has completed its 3,268-metre drill program in Madagascar comprising 69 diamond holes, with results recording significant intercepts of graphite mineralization. The drill program has significantly expanded the mineralization footprint of the Graphmada Mineral Resource. Greenwing expects to complete the update of Graphmada's Mineral Resources estimate in Q2 2022, while continuing analysis of the remaining drill samples. Greenwing also plans to assess the undertaking of further drilling to update resource confidence and test the mineralization laterally, in width and depth. Feasibility studies are ongoing to assess the restart and expansion of mining and processing at the Graphmada Mining Complex.

  • Seymour Lake Lithium Royalty – Green Technology Metals Limited (ASX: GT1) announced on April 12, 2022 the assay results for an additional six holes from its Phase 1 step-out drilling at the Seymour Lake Project's North Aubry deposit in Ontario, Canada . The Phase 1 drilling program was designed to evaluate potential along-strike and down-dip extensions of the North Aubry deposit that were open and untested. This inaugural program has been completed with 16 holes drilled over 5,826 metres. Green Technology Metals reported thick, high-grade extensional intercepts in April.

The Phase 1 assays returned to date (nine holes) indicate substantial potential upside to the existing Seymour Lake Mineral Resource estimate. Green Technology Metals expects the updated Mineral Resource estimate for Seymour Lake to incorporate all Phase 1 results including residual pending assays for seven holes, during Q2 2022. Phase 2 (Central Aubry zone) and Phase 3 (Pye prospect) drilling at Seymour Lake is underway with a total of eight holes over 1,201 metres drilled to date across both areas.

  • Cancet Lithium Royalty – Winsome Resources Limited (ASX: WR1) announced on April 21, 2022 that it has completed its drill program of 2,142 metres comprising 23 diamond holes at the Cancet Project in Quebec, Canada , designed to provide infill drilling on known high-grade lithium mineralization identified in previous exploration, as well as to test geological anomalies indicated through various geophysical methods including magnetic surveys. Winsome expects results from the drill program will provide evidence of the extension of the strike length of the lithium mineralization, and ultimately underpin its inaugural resource estimate and delivery of a scoping study, in turn supporting ongoing strategic partnership end-user discussions. Visible spodumene crystals were detected in the pegmatites and these samples have already been sent to the laboratory for assay to identify if lithium mineralization is present 1 . Initial results from the first batch of core samples are expected during May 2022 . In addition, Cancet plans to conduct ground stripping at the current site of known mineralization to expose more pegmatite, and channel sampling to inform detailed geological mapping of the known lithium mineralization. Findings from these activities will be used to generate further drill targets.

  • Yalbra Graphite Royalty – Buxton Resources Limited (ASX: BUX) announced on May 5, 2022 that a program of works has been submitted to the Government of Western Australia's Department of Mines, Industry Regulation and Safety for approval to undertake an infill drilling program at the Yalbra graphite deposit, Gascoyne Region, Western Australia with a goal to delineate Indicated Resources at this high-grade deposit. The drilling program will commence subject to approval of the program of works and drill rig availability. The combination of improving market conditions, promising results from metallurgical work (ongoing) and project terrain which is highly amenable to siting a mining operation, positions the Yalbra Project for subsequent advancement through feasibility studies and permitting.

David Gaunt , P.Geo., a qualified person who is not independent of Electric Royalties, has reviewed and approved the technical information in this release.

On Behalf of the Board of Directors,
Brendan Yurik
CEO

1 See Winsome Resources' press releases dated March 29, 2022 and March 31, 2022.

About Electric Royalties Ltd .

Electric Royalties is a royalty company established to take advantage of the demand for a wide range of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper) that will benefit from the drive toward electrification of a variety of consumer products: cars, rechargeable batteries, large scale energy storage, renewable energy generation and other applications.

Electric vehicle sales, battery production capacity and renewable energy generation are slated to increase significantly over the next several years and with it, the demand for these targeted commodities. This creates a unique opportunity to invest in and acquire royalties over the mines and projects that will supply the materials needed to fuel the electric revolution.

Electric Royalties has a growing portfolio of 18 royalties, including one royalty that currently generates revenue. The Company is focused predominantly on acquiring royalties on advanced stage and operating projects to build a diversified portfolio located in jurisdictions with low geopolitical risk, which offers investors exposure to the clean energy transition via the underlying commodities required to rebuild the global infrastructure over the next several decades towards a decarbonized global economy.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor any other regulatory body or securities exchange platform, accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements Regarding Forward-Looking Information and Other Company Information

This news release includes forward-looking information and forward-looking statements (collectively, "forward-looking information") with respect to the Company within the meaning of Canadian securities laws. This news release includes information regarding other companies and projects owned by such other companies in which the Company holds a royalty interest, based on previously disclosed public information disclosed by those companies and the Company is not responsible for the accuracy of that information, and that all information provided herein is subject to this Cautionary Statement Regarding Forward-Looking Information and Other Company Information. Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. This information represents predictions and actual events or results may differ materially. Forward-looking information may relate to the Company's future outlook and anticipated events and may include statements regarding the financial results, future financial position, expected growth of cash flows, business strategy, budgets, projected costs, projected capital expenditures, taxes, plans, objectives, industry trends and growth opportunities of the Company and the projects in which it holds royalty interests.

While management considers these assumptions to be reasonable, based on information available, they may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or these projects to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving the renewable energy industry; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the mining industry generally, the Covid-19 pandemic, recent market volatility, income tax and regulatory matters; the ability of the Company or the owners of these projects to implement their business strategies including expansion plans; competition; currency and interest rate fluctuations, and the other risks.

The reader is referred to the Company's most recent filings on SEDAR as well as other information filed with the OTC Markets for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the Company's profile page at www.sedar.com and at otcmarkets.com.

SOURCE Electric Royalties Ltd.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2022/11/c3580.html

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/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION TO THE UNITED STATES /

All amounts in Canadian dollars unless otherwise stated

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