Summer Sampling Program Returns High-Grade Nickel Sulphide, Copper, And Cobalt Assays - Werner Lake Project

High-Tech Metals Limited (ASX: HTM) (High-Tech, or the Company) is pleased to announce significant results have been achieved through the Ni-Cu-Co geochemical assessment of 209 rock samples collected during the 2023 field season at Werner Lake Project (Werner Lake, or the Project) located in northwestern Ontario.

HIGHLIGHTS

High-grade nickel sulphide (greater than 1% Ni) rock chips at Werner Lake, which has predominately been explored for cobalt and copper, also returned high grade samples including 6.22% Cu and >1% Co.

Three surface samples exceeded grades of 1% Ni (exceeded upper detection limit) - over-limit assays of these samples are pending.

Additionally, more than 12 samples exceeded grades of 1% cobalt or 1% copper (exceeded upper detection limit) including individual sample results of:

• Sample F0015125 - 6.22% Cu and 0.5% Co;
• Sample F0015010 - 3.48% Cu and >1% Ni;
• Sample F0014501 - >1% Co and 0.2% Cu; and,
• Sample F0015073 - >1% Ni and 0.8% Cu.

The discovery of the nickel sulphide potential will now be prioritised and targeted for the upcoming HTM drilling program scheduled to begin towards the end of September.

The HTM field team collected 209 rock samples over the course of June and July, and coupled with results from the spring ground magnetic survey, has greatly assisted in delineating the Ni-Cu- Co drill targets.

These results support the systematic exploration approach that High-Tech is taking in unlocking value at Werner Lake and has encouraged the Company to explore further Nickel sulphide potential in the area.

The old Gordon Lake Mine is located 3.5 km to the East of Werner Lake, which produced 1,370,285 tons averaging 0.92% Ni and 0.47% Cu1 and has existing reserves of 170,420 tonnes averaging 0.85% Ni and 0.35% Cu¹. To the west of Werner Lake is the Norpax Deposit that has a historic resource of 1,010,000 tonnes 1.2% Ni and 0.5% Cu².

HTM is looking forward to building upon its current Mineral Resources Estimate (MRE) at Werner Lake which currently total 720,000 lbs @ 0.51% Co & 0.24% Cu³.

The results are extremely encouraging for Werner Lake and confirm the Cu-Co potential of the Project, as well as the discovery of high-grade nickel sulphide at surface. With 209 samples taken as part of the program, twelve samples exceeded grades of more than 1% cobalt or 1% copper and three samples returned results greater than 1% Ni. These over-limit samples are being re- assayed with results pending.

Targeted lithologies included intrusive mafic and ultramafic rocks with variable amounts of sulphide (pyrite, pyrrhotite, pentlandite, and chalcopyrite) including some semi-massive concentrations.

Samples were analysed for precious metals by fire assay and inductively coupled plasma- atomic emission spectrometry (ICP-AES) finish, base metals by ICP-mass spectrometry (ICP-MS) and for copper over-limit by ICP finish. The analysis was aimed at identifying areas of interest for further geological assessment for (but not limited to) Co-Ni-Cu mineralisation.

Sonu Cheema, Executive Director commented:

"The rock sampling program covered an area of approximately 6km2 within our overall project area which covers approximately 20 km2. The confirmation of additional high-grade cobalt and copper at surface was fantastic, however, the discovery of high-grade nickel sulphides at surface was exceptional and now transforms Werner Lake into a highly prospective Ni-Cu-Co project.

We are excited about the drilling program planned for the coming weeks, which includes the ’Drill-ready‘ targets identified through the rock sampling program and including the hunt for nickel sulphides. These results validate the systematic approach that the High-Tech exploration team has undertaken.”

The Company is actively evaluating numerous new project possibilities near Werner Lake. It is consistently conducting thorough internal assessments of projects that align with the Company's goal of specializing in battery metals. Of special interest are ventures that enhance the Company's involvement in the recently discovered nickel potential of Werner Lake.

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