Consolidation Of Ownership For Lovelock Mine And Treasure Box Projects

VANCOUVER - Global Energy Metals Corporation (GEMC) has entered into a definitive binding agreement to consolidate 100% ownership of the Lovelock Mine and Treasure Box projects in Nevada, via a mineral claim purchase agreement with Nevada Sunrise Metals Corporation.

Mitchell Smith, President and CEO, said, “We are extremely pleased to have reached an agreement with Nevada Sunrise to consolidate 100% ownership of the Lovelock Mine and Treasure Box projects. The exceptional exploration findings to date demonstrate the exciting potential for copper, nickel and cobalt mineralization at a district scale in Nevada, a top tier mining jurisdiction. This transaction is a highly rational step for GEMC. By assuming full control of the Projects, GEMC will create a strong platform from which to develop and fund these battery mineral projects.”

Consolidating 100% ownership under GEMC provides the optimal structure to oversee the rapid development of the Projects by streamlining decision making and execution. The Transaction will simplify and de-risk the funding pathway for the Projects and will greatly enhance the Company’s ability to source capital from a wider pool of investors. Management believes that this in turn may potentially deliver enhanced returns as the Projects advance.