Intercept Of Copper From Dalmacia Target At The Punitaqui Mine

VANCOUVER - Battery Mineral Resources Corp. reported encouraging drill core assay results from the recently completed Phase 1 exploration and in-fill drill program at the Dalmacia target of the Punitaqui mine complex ('Punitaqui") in Chile. Drilling continues at the Cinabrio Norte target where two diamond drills are in operation. The Punitaqui mine is slated for resumption of copper concentrate production in mid to late-2022.

The Dalmacia target is located in the southern portion of the Punitaqui area about six kilometers (km) south of the Punitaqui copper processing plant. The Dalmacia target has underground mining access, partially delineated mineralized zones and is targeted as a potential new source of ore feed to the Punitaqui plant.

Battery Vice President of Exploration, Peter Doyle, said,  "These drilling results further confirm the presence of high-grade copper mineralization at Dalmacia North. Overall, the 2021-2022 Dalmacia North assay results are far better than expected. The current drilling has greatly enhanced our understanding of the structural controls of the copper mineralization at Dalmacia North. The ongoing re-interpretation of historic and current drilling as a series of cross-sectional views is being collated into an updated 3D geological model which will form the basis for a resource estimate. This enhanced geological understanding will then be applied to future infill and step-out drilling over the 1,000m of strike length at Dalmacia that remains untested during the 2021-2022 phase 1 program.”

Battery CEO Martin Kostuik adds, "We are very pleased with the progress of the Dalmacia drill program which is shaping up to give Dalmacia a strong potential to be a significant contributor to the future of the Punitaqui mine. Continued results like these as we move forward towards the updated resource statement and planned restart of our former producing Punitaqui copper mine in Chile will give our investors an opportunity to participate in a potentially significant re-rating in BMR's valuation as we transition from development to operations and positive cash flow. We look forward to providing further exciting updates from the progression of the Punitaqui project."