Mr. Mitchell Smith reports

GLOBAL ENERGY METALS STRIKES DEAL WITH TERRA BALCANICA AND FULCRUM METALS GAINING EXPOSURE TO HIGHLY PROSPECTIVE GROUND FOR URANIUM DISCOVERY IN ATHABASCA BASIN, SASKATCHEWAN

Global Energy Metals Corp. has terminated its agreement with Fulcrum Metals PLC and struck a new deal with Terra Balcanica Resources Corp., securing compensation and a royalty over highly prospective uranium projects in Saskatchewan.

Full details of the transaction can be found on the company's website in a news release issued earlier in the day.

April 3, 2024: "Global Energy Metals Granted Uranium Royalty on Saskatchewan-Based Projects and Shares in Terra Balcanica; Terminates Agreement with Fulcrum Metals"

Highlights:

• Exposure to uranium, a new commodity to Global Energy's existing project, equity and royalty portfolio;
• Strategic equity position in Terra Balcanica, a publicly listed multicommodity company with a new focus on uranium exploration in the Athabasca basin;
• Historical work at the projects has demonstrated evidence of uranium mineralization along favourable structural trends with prospective target horizons based on electromagnetic conductors;
• Proximal to northern and southeastern edges of the basin in Northern Saskatchewan, a premium mining district and leading global source of high-grade uranium;
• Charlot-Neely is located within the emerging Uranium City district on the northwestern margin of the basin;
• Exploration expenditures by Terra totalling $3.25-million prior to the fourth anniversary of the option agreement will aim to determine the resource potential for the projects.

The agreement's termination marks a strategic move for Global Energy Metals, as it facilitated a new partnership between Fulcrum and Terra Balcanica Resources.

Under the option agreement between Terra and Fulcrum, Terra intends to acquire a 100-per-cent interest in Fulcrum's uranium projects.

In exchange for terminating the prior agreement with Fulcrum, Global Energy Metals will receive compensation equivalent to $150,000 in shares in Terra upon the option agreement's closing.

Additionally, Global Energy Metals will be granted a 0.5-per-cent net smelter return over the Saskatchewan-based project portfolio, covering 596.71 square kilometres of highly prospective ground for uranium discovery.

The project portfolio targets major northeast-southwest-trending structures along strike from historic uranium mines and projects.

Global Energy chief executive officer Mitchell Smith commented:

"We are excited to have attracted such a strong operational partner in Terra Balcanica to apply their technical and jurisdictional expertise to advance these North American uranium projects at such a pivotal time in this new nuclear era.

"Through this arrangement, we're excited to maintain exposure to these high-quality uranium assets through both the equity position in Terra and the NSR royalty over the portfolio.

"This will bolster Global Energy's existing project, royalty and equity portfolio to now include uranium and further demonstrates the company's ability to monetize assets for the benefit of shareholders."

Future exploration efforts, spearheaded by Terra, aim to assess the resource potential of the projects, building on initial exploration and evaluation conducted by Fulcrum in 2023.

Qualified person

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

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.

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