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Bolt Metals Corp (3)
Symbol BOLT
Shares Issued 31,381,412
Close 2024-12-10 C$ 0.235
Market Cap C$ 7,374,632
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Bolt Metals talks up global supply chain concerns

2024-12-10 18:29 ET - News Release

Mr. Branden Haynes reports

BOLT METALS WELL POSITIONED FOR CRITICAL MINERALS CRISIS, AMID CHINA'S EXPORT BAN

Bolt Metals Corp. has provided an update on China's recent announcement banning exports of gallium, germanium and antimony to the United States. This strategic move, paired with September, 2024, export restrictions, has exacerbated global concerns over supply chain stability for these indispensable materials.

China is the world's leading producer of antimony, accounting for 48 per cent of global production and 63 per cent of U.S. antimony imports. The United States has no domestic antimony production and severely limited stockpiles. Since antimony export restrictions were imposed in September, 2024, antimony shipments from China dropped 97 per cent while prices rose 200 per cent.

Antimony, a mineral vital for defence systems, renewable energy storage and high-tech manufacturing has become the latest flashpoint in the resource security landscape. Industry experts warn that this trend could severely impact U.S. national defence readiness and the development of advanced technologies unless alternative sources are secured.

"As geopolitical dynamics shift, securing stable and ethical supplies of critical materials is paramount," said Branden Haynes, chief executive officer of Bolt Metals. "China's policy underscores the West's overreliance on single-source suppliers and the urgent need for long-term solutions."

Bolt Metals is uniquely positioned to address these challenges with several prospective projects focused on critical minerals, including the promising New Britain antimony property in British Columbia.

New Britain property

The New Britain property comprises 2,035 hectares located approximately 40 kilometres north, northwest of Kaslo, B.C., and is accessible by highway and forest service roads.

Development at New Britain in the early 1980s included extending a short adit excavated to evaluate a quartz vein within a 20-metre-wide shear zone that strikes north and dips subparallel to bedding. The rocks within the shear are altered to sericite schist. High silver, lead and antimony values occur with massive sulphides on the apex of drag-folds within the shear. Mineralization consists of galena and tetrahedrite within quartz-calcite veins. A chip sample across 0.6 metre of vein material assayed 2358 grams per tonne silver, 29.9 per cent lead, 10.4 per cent antimony and 9.7 grams per tonne gold.

There are multiple antimony occurrences in the area, including the North Star prospect in Goat Range Park, and the West Ridge prospect at Eagle Plains Snowstorm property. Geological mapping and interpretation at Snowstorm indicate a southeast-northwest tend in geology and structure, trending onto the New Britain property. The West Ridge prospect, located 4.7 km to the northwest, was developed in the late 1920s, with a shallow shaft and a 150-metre adit. Assessment reports indicate mineralization of massive stibnite-galena in quartz veining assaying up to 16.1 per cent antimony, 1.58 per cent copper, 41.1 per cent lead and 1,539 grams per tonne silver over a width of at least one metre.

Qualified person

Garry Clark, PGeo, a member of the company's board of directors, a qualified person under National Instrument 43-101, has reviewed the technical contents of this news release and has approved the disclosure of the technical information contained herein.

About Bolt Metals Corp.

Bolt Metals is a North American mineral acquisition and exploration company focused on the development of quality precious and base metal properties that are drill-ready with high-upside and expansion potential. Based in Vancouver, B.C., Bolt's portfolio of strategic properties provides target-rich diversification and also include Soap Gulch, a copper sedex project in Montana, and Switchback, a copper-silver project located in British Columbia. Bolt trades on the Canadian Securities Exchange under the symbol BOLT, the OTCQB Exchange under the symbol PCRFC and in Germany under the WKN A3D8AK.

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