Global Battery Metals Reports High Grade Lithium Assays Returned; Surface Samples Up to 3.75% Li2O From NW Leinster Lithium Project

Highlights Include:

• Of the 66 total surface samples analyzed, assay results show that 47 returned grades above 1% Li₂O - with grades as high as 3.75% and 3.63% (source: ALS Laboratories, Loughrea, Ireland)
• Knockeen and Carriglead Prospects are reported at:
  • Knockeen: Out of a total of 56 samples, 41 samples graded above 1% Li₂O, of which 20 graded above 2% Li₂O and of which two graded above 3% Li₂O (Sample AES 63003 (3.63% Li₂O) and Sample AES 63033 (3.75% Li₂O))
  • Carriglead: out of a total of 10 samples, six samples graded above 1% Li₂O, of which one sample analysed above 2% Li₂O (Sample AES63504 (2.09% Li₂O))
• The program of intensive prospecting has consolidated the extent of the spodumene pegmatite boulder train at surface and significantly enhanced the resolution of the dispersion zone
• The known extent of the boulder train is now over 1km in length from NE to SW, 0.5km from NW to SE and is still open in all directions at Knockeen

Vancouver, British Columbia--(Newsfile Corp. - January 18, 2023) - Global Battery Metals Ltd. (TSXV: GBML) (OTCQB: REZZF) (FSE: REZ) (the "Company" or "GBML"), a critical mineral exploration company focused on growth-oriented lithium and other battery metal projects, announces initial field exploration assay results (see Table 1) from its North-West Leinster Lithium Project (the "Property" or the "Project"), focused primarily on Prospecting Licence Area ("PLA") 1597 in Ireland.

Sampling Program Highlights

Table 1: Highlight results from the prospecting program (December 2022)
* Li₂O % = Li ppm % (x 2.153)

A full list of comprehensive results can be found in Appendix 1.

"The high-grade assay results from our most recent surface sampling program are extremely encouraging and reassure our early diligence in the Project," said Michael Murphy, Chief Executive Officer of GBML. "The strong concentration of confirmed lithium-bearing pegmatites is helping the team target the source and plan a strong drilling campaign to test the limits of the Property. We look forward to receiving our overburden assay results."

Field Exploration Program Update

PLA 1597 forms part of the Company's Property exploration block, which is operated under an exclusive Option and Earn-in agreement with Technology Minerals Plc, the first-listed UK company focused on creating a sustainable circular economy for battery metals, and its wholly owned subsidiary LRH Resources Limited ("LRH").

The current phase of detailed exploration work is centred on an area where a forty-year-old historical company report¹ described a trench excavated at Knockeen Townlands on PLA 1597 (Figure 1) which, uncovered in bedrock, exposed a 1.8m wide spodumene-bearing pegmatite vein. However no detailed laboratory assays or geological maps of the trench were reported at that time. Historical prospecting around the trench also reported the occurrence of up to 10 large boulders of spodumene bearing pegmatite at surface.

The current exploration program carried out under LRH management by Aurum Exploration Services Limited included an initial reconnaissance visit in July 2022 totalling six samples. This was followed by a more detailed prospecting and lithogeochemical survey on two areas at Knockeen and Carriglead Townlands in December 2022 and totalling 66 samples (Figure 1 and Table 2).

Table 2: Results from reconnaissance prospecting (July 2022 and December 2022)

Preliminary Reconnaissance July 2022

Two areas at Knockeen and Carriglead Townlands were targeted with an initial reconnaissance visit in July 2022, during which six samples - four at Knockeen and two at Carriglead - were collected. Analytical results confirmed the presence of the historically reported spodumene pegmatite boulder train and returned very significant grades of Li₂O in all the samples. These results have been reported previously but are reproduced here for continuity (Table 3).

Table 3: Results from reconnaissance prospecting (July 2022)
* Li₂O % = Li ppm % (x 2.153)

December 2022 Detailed Prospecting and Lithogeochemistry

In December 2022 an extensive prospecting and lithogeochemistry survey was completed covering the two areas identified during the reconnaissance program. A total of 56 samples were collected at Knockeen and 10 at Carriglead. The results were highly encouraging with coherent boulder trains of spodumene bearing lithium pegmatites mapped out across the prospects. The highlight sample results are shown in Table 1 and the full results are appended in Appendix 1 to this release in Tables and 4 and 5 with associated maps showing the locations in Figures 2 (Knockeen) and Figures 3 (Carriglead) below.

Figure 1: Location of the Knockeen and Carriglead target areas PL 1597 showing sample locations

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/7080/151682_fb825e2064587838_001full.jpg

Figure 2: Location of samples and assay results from the Knockeen target area

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https://images.newsfilecorp.com/files/7080/151682_fb825e2064587838_002full.jpg

Figure 3: Location of samples and assay results from the Carriglead target area

To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/7080/151682_fb825e2064587838_003full.jpg

Photo 1: Spodumene pegmatite samples from Knockeen and Carriglead

To view an enhanced version of Photo 1, please visit:
https://images.newsfilecorp.com/files/7080/151682_fb825e2064587838_004full.jpg

Please see the Company's NW Leinster Project Overview for additional program details, in addition to the latest version of the Company's Investor Presentation available for download from the GBML website (www.gbml.ca).

Qualified Person

All scientific and technical information in this announcement has been prepared under the supervision of and reviewed and approved by EuroGeol Vaughan Williams M.Sc. P.Geo., Principal of Aurum Exploration Services, who currently provides exploration services to GBML and LRH, and who is a "qualified person" within the meaning of National Instrument 43-101. Vaughan Williams is also company secretary of LRH.

About Global Battery Metals Ltd.

GBML is an international mineral exploration and development company with a focus on metals that comprise and support the rapid evolution to battery power. GBML currently maintains economic interests in four battery metal projects: (1) an option to acquire up to a 90% in the North-West Leinster lithium property in Ireland; (2) a 100% interest in the Lithium King property in Utah; (3) an option to acquire up to a 100% interest in the La Poile lithium project in Newfoundland; and (4) a 55% stake in Peru-based Lara copper property, which has over 10,000 metres of drilling. As previously disclosed, Minsur S.A., a Peruvian mining company, entered into an option agreement with GBML and Lara Exploration Ltd. to acquire the Lara copper property for staged payments of USD$5.75 million. GBML will retain a 0.75% net smelter royalty. GBML's common shares are listed on the TSX Venture Exchange (TSXV: GBML); Frankfurt Stock Exchange (FSE: REZ); and are quoted on the OTC Markets (OTCQB: REZZF).

Global Battery Metals Ltd.
Michael Murphy BA, MBA, MSc., ICD
President & CEO
T: 604-649-2350
E: MM@gbml.ca
W: www.gbml.ca

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 Statement Regarding "Forward-Looking" Information

This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operations and activities of the Company, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the Company's exploration plans at the North-West Leinster Lithium Property, assay results and the impact therefrom. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to complete proposed exploration work given the global COVID-19 pandemic, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Readers are urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects. The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

Appendix 1: Analytical Results

Table 4: Results from follow up prospecting at Knockeen (December 2022)
* Li₂O % = Li ppm % (x 2.153)

Table 5: Results from follow up prospecting at Carriglead (December 2022)
* Li₂O % = Li ppm % (x 2.153)

¹ Report titled "1975-76 - Discovery of Spodumene Pegmatite Float" by Irish Base Metals Limited

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/151682