Mr. Mitchell Smith reports

GLOBAL ENERGY METALS JV PARTNER KINGSROSE MINING REPORTS DIAMOND DRILLING CONFIRMS PRESENCE OF HIGH-GRADE MASSIVE SULPHIDE NICKEL-COPPER-COBALT MINERALISATION AT BRUVANN, RANA NICKEL PROJECT, NORWAY

Global Energy Metals Corp. has released analytical results from the first two diamond drill holes at the Bruvann prospect, Rana project, Norway. Results include the interception of high-grade massive sulphide nickel-copper-cobalt mineralization in hole 23BRU001 and a broad zone of disseminated sulphide mineralization in hole 23BRU003.

Highlights

• 2.5 metres at 1.00 per cent Ni (nickel), 0.14 per cent Cu (copper) and 0.08 per cent Co (cobalt) from 172.91 metres (hole 23BRU001), including 1.0 metre at 1.94 per cent Ni, 0.18 per cent Cu and 0.18 per cent Co from 173.91 metres.
  • This intercept is located 20 metres southwest and along strike from an historical massive sulphide drill intercept, located 70 metres south of the inferred position of historical underground workings.
• 50.0 metres at 0.43 per cent Ni, 0.10 per cent Cu and 0.02 per cent Co from 470.6 metres (Hole 23BRU003).
  • This intercept is located 20 metres down dip from broad zones of mineralization identified in historical drilling and underground mining, which is open and undrilled to the west and down dip.
• Drill hole 23BRU002 was abandoned at 245.9 metres and before reaching the intended target due to excessive deviation.

* All intercepts are reported as down hole lengths and not true thicknesses.

Mitchell Smith, chief executive officer and director, commented: "We are pleased to report results from initial diamond drill work, including the interception of massive sulphide nickel-copper-cobalt mineralization at Bruvann, one of the key targets of the exploration program at the Rana project in Norway.

"Drilling results confirm that mineralization at Bruvann remains open along strike from existing mine infrastructure with encouraging high-grade nickel sulphides with substantial widths of mineralization.

"We look forward to updating shareholders on further diamond drilling being conducted and funded by Kingsrose at the project as they continue to test a number of targets identified by the recent geophysical and geological studies."

Discussion of results

For further details regarding the Rana project and the analytical results for the first two holes totalling 776 metres of the planned 5,000-metre drill program, including significant results from these holes along with images and maps, please refer to Kingsrose's Sept. 4, 2023, Australian Securities Exchange announcement on Kingsrose's website.

Results are discussed herein, where both holes were designed to test along strike from known mineralization whilst also providing stations to conduct down hole EM surveys. These holes were drilled prior to completion of the ground-based geophysical surveys and were based on geological interpretation from existing mapping and historical drill data. The results will be used to further inform the geophysical data interpretations and generation of follow up drill targets.

Hole 23BRU001

Drill hole 23BRU001 was designed to test an area 20 metres southwest and along strike from a high-grade mineralized zone identified from a review of historical drill data, adjacent to underground mine infrastructure where there is no recorded historical mining activity. The hole intercepted disseminated pyrrhotite-chalcopyrite mineralization hosted in norite from 162.4 metres, with a one-metre thick cross-cutting vein type massive sulphide zone within a raft of gneiss wall rock from 173.9 metres. Vein hosted massive sulphide mineralization comprises pyrrhotite, pentlandite, chalcopyrite and a rare silver coloured, metallic mineral tentatively identified as skutterudite (nickel, cobalt and arsenic-bearing sulphide).

The mineralized zone intercepted in 23BRU001 remains open to the east, west and down dip, and a down hole electromagnetic survey of the hole identified a strong off-hole conductor along strike to the west.

Hole 23BRU003

Drill hole 23BRU003 was designed to test an area along strike and down plunge from mineralization identified from a review of historical drill data at the western extent of the Bruvann mine. The hole intercepted disseminated, blebby and net-textured pyrrhotite-chalcopyrite mineralization from 470.6 metres. This mineralization is hosted within peridotite and is located where expected based on the geological interpretation and provides an important vector for future drill planning. The mineralized zone is cross-cut by rare, millimetre-scale sulphide veinlets composed of pyrrhotite and pentlandite.

A combination of ground-based EM and downhole EM data from this hole identified an off-hole, mid-time anomaly over 200 metres to the west and along strike from the mineralized zone intercepted in 23BRU003.

Additionally, Kingsrose has been selected for the first cohort of the BHP Xplor exploration accelerator program which commenced in January, 2023.

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 and invest" approach and in doing so has assembled and are 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, scaleable 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.

We seek Safe Harbor.