Mr. Michael Murphy reports

GLOBAL BATTERY METALS PROVIDES LA POILE LITHIUM PROJECT UPDATE; ANNOUNCES 2023 FIELD RECONNAISSANCE IN NEWFOUNDLAND TO BEGIN IN JULY

Global Battery Metals Ltd. has provided an update on its La Poile lithium project in Newfoundland.

Global Battery Metals announces the start of 2023 field reconnaissance at the La Poile property is set to commence later this month. The La Poile property consists of 320 claims encompassing approximately 80 square kilometres in southwestern Newfoundland, approximately 35 km from the Golden Hope property jointly held by Sokoman Minerals Corp. and Benton Resources Inc. The alliance recently announced intersecting 1.22 per cent Li2O (lithium oxide) over 13.37 metres at the Killick zone.

Initial exploration of the La Poile project began in 2022 with a focus on an area of siliciclastic sediments known for its high lithium values in till samples. During a preliminary late-season prospecting survey, several pegmatite dikes were discovered and sampled, but were not found to be lithium (Li)-bearing. While limited, the overall prospecting efforts within licence No. 33417m were successful in identifying at least one occurrence of a potential pegmatite dike swarm. Another area of interest was located to the far north, within licence No. 33415m.

This summer's more comprehensive program will allow Global Battery's team to spend adequate time revisiting existing prospects, and gathering key geological information about the mineralogy, host rocks and structure. The findings will guide the subsequent steps of the exploration program, including the identification of priority areas for further exploration.

The area's granitic rock from the Paleozoic era is part of a larger Appalachian-Caledonian belt that extends from the Ireland and the United Kingdom, through Newfoundland, and into the eastern United States. Included in this suture zone are the important lithium deposits held by Ganfeng Lithium/International Lithium Corp.'s Blackstairs lithium project in Ireland, as well as by Piedmont Lithium Inc. in the Carolinas, United States.

On Nov. 8, 2021, the company entered into a property option agreement with Kevin Keats and Allan Keats (together, the optionors) to acquire up to a 100-per-cent interest in the La Poile lithium project in Newfoundland (see Nov. 16, 2021, press release). Pursuant to the agreement, the company may acquire up to a 100-per-cent interest in the property by meeting certain milestones, and making certain staged cash payments and share issuances to the optionors.

Consideration to acquire a 51-per-cent, 75-per-cent and 100-per-cent interest in the property is shown in the associated table.

The TSX Venture Exchange has accepted the agreement, as amended on Jan. 28, 2022, when the issue price per Global Battery Metals common share was determined to be 21 cents, in accordance with the policies of the exchange.

About Global Battery Metals Ltd.

Global Battery Metals is an international mineral exploration and development company with a focus on lithium and other metals that comprise and support the rapid evolution to battery power. Global Battery Metals currently maintains economic interests in four battery metal projects: (1) an option to acquire up to a 90-per-cent interest in the Leinster lithium property and drill program currently under way in Ireland; (2) a 100-per-cent interest in the drill-ready Lithium King property in Utah; (3) an option to acquire up to a 100-per-cent interest in the La Poile lithium project in Newfoundland; and (4) a 55-per-cent stake in Peru-based Lara copper property, which has over 10,000 metres of drilling. As previously disclosed, Minsur SA, a Peruvian mining company, entered into an option agreement with the company and Lara Exploration Ltd. to acquire the Lara copper property for staged payments of $5.75-million (U.S.). The company will retain a 0.75-per-cent net smelter royalty.

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