Mr. Mitchell Smith reports

GLOBAL ENERGY METALS REPORTS COMMENCEMENT OF DRILLING AT THE RANA NICKEL-COPPER-COBALT PROJECT IN NORWAY

Global Energy Metals Corp.'s strategic partner, Kingsrose Mining Ltd., has commenced core drilling at the Rana nickel-copper-cobalt sulphide project in Nordland county, Norway.

A total of 5,000 metres are planned with the aim of testing along strike from known mineralization, targeting highly conductive zones identified in geophysical surveys that have the potential to host massive sulphide nickel-copper-cobalt mineralization and facilitating future downhole electromagnetic geophysical surveys to generate additional targets.

Highlights:

• Drilling has commenced at the Bruvann mine area, initially targeting along strike and downdip extensions to mineralization inferred from interpretation of historical drilling results.
• The ground-based magnetotelluric (MT) and fixed-loop electromagnetic (FLEM) surveys at Bruvann have been completed and 3-D data inversions are being interpreted to generate further drill targets.
• Newexco consultants in Australia have been engaged to assist with interpretation of the FLEM and MT data given their experience with similar nickel sulphide exploration projects, including the Nova Bollinger project in the Albany-Fraser orogen in Western Australia.
• A ground-based MT survey is in progress at the Ranbogen prospect to generate drill targets where multiple outcropping zones of sulphide mineralization returned greater than 1 per cent nickel in rock-chip sampling (see Australian Securities Exchange announcement dated Jan. 18, 2023), for drill testing later in the drill program.
• Airborne magnetotelluric geophysical data acquisition is complete and data inversion is in progress. These results will help guide further exploration over the rest of the intrusion.
• A detailed drone-based magnetic survey has commenced over the Bruvann and Ranbogen prospect areas.

Mitchell Smith, chief executive officer and director of Global Energy, commented: "I am pleased that our strategy of attracting well-financed, technically skilled partners on a project level is once again affording our shareholders exploration upside on an important battery metals project at such a pivotal time as the world transitions towards new energy systems requiring key metals such as nickel, copper and cobalt that make up the Rana project. We're excited to see Rana drilled by Kingsrose and look forward to reporting findings in the near future."

Andrew Tunningley, Kingsrose's head of exploration, commented: "We have rapidly acquired an extensive and multifaceted geophysical data set which is a key component in unlocking the exploration potential at Rana. With the drill rig now on site, our priority is to test along strike from known mineralization at the Bruvann mine whilst we generate additional drill targets from the geophysical data. The entire basal part of the intrusion is considered prospective for discrete zones of massive sulphide mineralization, and the combined geophysics and drilling are a key step in understanding where mineralization may be concentrated."

Qualified person

Paul Sarjeant, PGeo, a director and shareholder, is the qualified person for this release as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Global Energy Metals Corp.

Global Energy Metals offers investment exposure to the growing rechargeable battery and electric vehicle market by building a diversified global portfolio of exploration and growth-stage battery mineral assets.

Global Energy Metals recognizes that the proliferation and growth of the electrified economy in the coming decades is underpinned by the availability of battery metals, including cobalt, nickel, copper, lithium and other raw materials. To be part of the solution and respond to this electrification movement, Global Energy Metals has taken a consolidate/partner/invest approach and, in doing so, has assembled and is advancing a portfolio of strategically significant investments in battery metal resources.

As demonstrated with the company's current copper, nickel and cobalt projects in Canada, Australia, Norway and the United States, Global Energy Metals is investing in, exploring and developing prospective, scalable assets in established mining and processing jurisdictions in close proximity to end-use markets. Global Energy Metals is targeting projects with low logistics and processing risks so that they can be fast-tracked to enter the supply chain in this cycle. The company is also collaborating with industry peers to strengthen its exposure to these critical commodities and the associated technologies required for a cleaner future.

Securing exposure to these critical minerals powering the e-mobility revolution is a generational investment opportunity. Global Energy Metals believes now is the time to be part of this electrification movement.

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