News Release Global Battery Metals Announces Financing

Vancouver, British Columbia--(Newsfile Corp. - October 21, 2020) -  Global Battery Metals Ltd. (TSXV: GMBL) (FSE: REZ) (OTCQB: REZZF) (the "Company" or "GBML") announces the terms of a non-brokered private placement (the "Offering") of up to 5 million units (the "Units") at a price of $0.10 per Unit for gross proceeds of up to $500,000. Each Unit will be comprised of one common share of the Company ("Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one additional Common Share at a price of $0.15 per share for a period of two years from the date of issuance.

The net proceeds of the Offering are expected to be used for project evaluation and general working capital. The Offering is subject to the acceptance of the TSX-V, and securities issued pursuant to the Offering will be subject to a statutory four-month and one day hold period. Finder's fees may be payable to eligible finders on all or a portion of the Offering.

About GBML Battery Metals Ltd.

GBML is a mineral exploration company with a focus on metals that make up and support the rapid evolution to battery power. GBML's common shares are listed on the TSX Venture Exchange, OTCBB and Frankfurt. GBML currently has two projects: (1) an option to acquire up to 90 per cent of the North-West Leinster lithium property in Ireland, and (2) a 55-per-cent 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 property for staged payments of $5.75 million (U.S.). GBML will retain a 0.75-per-cent net smelter royalty. Please see the press release of July 28, 2020, for more information.

Michael Murphy BA, MBA, MSc., ICD
President & CEO
E: MM@gbml.ca

Cautionary Note Regarding Forward-Looking Information

This press release contains forward-looking information within the meaning of the applicable Canadian securities legislation. Forward-looking information in this press release includes, but is not limited to, statements about the Offering generally, the anticipated closing and successful completion of the Offering, the use of proceeds received therefrom, receipt of applicable regulatory approvals including the conditional approval of the TSX-V, and the Company's assets. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. In certain cases, forward-looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, impacts arising from the global disruption caused by the Covid-19 coronavirus outbreak, fluctuations in general macroeconomic conditions; receipt of applicable regulatory approvals including TSX-V conditional approval of the Offering, availability of financing, the potential for gold and/or lithium at any of the Company's properties, the prospective nature of any claims comprising the Company's property interests, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, uncertainty of sample results, timing and results of future exploration, and the availability of financing. Please refer to the Company's MD&A for the year ended April 30, 2020 and other disclosure documents filed under its profile on SEDAR for other risks that could materially affect the Company. These and other factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking information. The Company does not undertake to update any forward-looking information that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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