Mr. Mitchell Smith reports

GLOBAL ENERGY METALS PROVIDES TECHNICAL UPDATE ON NEVADA-BASED LOVELOCK AND TREASURE BOX COPPER-NICKEL-COBALT PROJECTS AND FILES NI 43-101 TECHNICAL REPORT

Global Energy Metals Corp. has provided an update on its Lovelock mine and Treasure Box projects and has filed a technical report in accordance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. The report is available on SEDAR+ and the company's website.

The report represents an important milestone for the company as it provides a comprehensive and independent evaluation of the projects. The report is effective as of Nov. 28, 2023, and follows the successful negotiation and closing of the consolidation of 100-per-cent ownership in the projects. Global Energy holding 100-per-cent ownership of the projects simplifies decision-making and provides the optimal structure to oversee the rapid exploration and development of key United States-based battery minerals projects at a time when securing future supply of critical minerals required for a North American battery supply chain is a top priority.

Mitchell Smith, Global Energy Metals' chief executive officer and director, said:

"The report represents a significant step forward for Global Energy Metals providing valuable information for our shareholders and investors and underscores the significant potential of the projects. We will now evaluate and compare a broad selection of options for the purpose of maximizing value and realize the potential, as demonstrated by the report, the projects have in the growing North American battery metals market.

"Global Energy Metals Corp. retained Trevor Mills of Dahrouge Geological Consulting USA Ltd. to prepare an independent technical report on the projects, located in Pershing county and Churchill county, Nevada, U.S."

The Lovelock mine property consists of 27 contiguous unpatented lode mining claims in Pershing county, Nevada, and 63 unpatented lode mining claims in Churchill county, Nevada, covering approximately 1,813 acres. The Treasure Box property consists of 76 contiguous unpatented lode mining claims in Churchill county, Nevada, covering approximately 1,561 acres.

This technical report has been prepared in compliance with regulatory disclosure and reporting requirements as outlined in Canadian National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, companion policy NI 43-101CP and Form 43-101F1 -- Technical Report. The qualified person responsible for this report is Mr. Mills, PG, SME-RM, a principal geologist with Dahrouge Geological Consulting USA.

The purpose of this report was to provide a review of Global Energy's Lovelock cobalt mine and Treasure Box projects located in Nevada, U.S. The report is being used to consider, evaluate and compare options for the purpose of identifying opportunities to maximize the value for Global Energy shareholders. The report is part of Global Energy's strategic review to summarize the previous exploration conducted on the property and provide recommendations for future work.

Interpretation and conclusions

Work conducted to date by Global Energy has successfully advanced understanding of the geology and mineralization at both the Lovelock cobalt mine property and the Treasure Box property. A combination of sampling programs, geophysical studies and a drilling program have provided successful results that confirm historical mineralization and confirm work by recent owners of the properties. Underground mapping and sampling identified N40E and N75W structural controls and postmineral faulting at the Lovelock cobalt mine. Results of a limited drilling program in 2022 indicate a nine-to-16-metre-thick zone of cobalt-nickel-copper mineralization in the hangingwall of the N40E fault that corresponds to a chargeability high identified in a 2018 direct current/induced polarization resistivity survey. Geophysical magnetic surveys of the Lovelock cobalt mine property were able to partially distinguish major lithologies, correlate linear magnetic features with mapped surface faults and potentially identify alteration within the mafic lithologies.

Magnetic surveys at the Treasure Box property have successfully identified several faults within mafic HMC rocks that are interpreted to continue under the overlying rhyolitic extrusive rocks. Numerous magnetic-high anomalies also correlate with previously identified soil anomalies for base and precious metals (gold, silver, zinc, copper). A mineralized oxide zone has been partially delineated with trenching, surface sampling and drill holes. Many faults interpreted from the magnetic surveys correspond to mapped surface faults highlighting the effectiveness of the method. Machine learning using geophysical data and remote sensing multispectral imagery was used to correlate clustered data to known geology and improve geological contacts and generate prospective targets. A ground truthing sampling program of these targets returned positive results.

The successful results using geophysical methods encourage further utilization. Additional IP surveys and/or controlled-source audio magnetotellurics/magnetotellurics (CSAMT/MT) hybrid-source audio-magnetotellurics (HSAMT) can be considered to provide further definition of geological features. Ground truthing of features via detailed geological mapping is encouraged. Gross geological units have been defined; however, understanding the details of the mineralized units will require quality geological mapping of lithology and alteration. Systematic rock and soil sampling will also provide important data to combine with mapping and new geophysical surveys to further understanding of mineralization on the property.

Positive exploration results at both properties continue to indicate the potential at each location and follow-up work should be planned. Positive exploration results at each property to date suggest the potential to advance the extent of known mineralization. Known mineralization trends are also present within the patented claims near each property and may represent extensions of mineralization within Global Energy's holdings.

The author concludes that the Lovelock cobalt mine property and the Treasure Box property are properties of merit and warrant continued exploration.

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 is advancing a portfolio of strategically significant investments in battery metal resources.

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