Hollywood actors, professional athletes, and award-winning musicians alike have all relied on Don Saladino, coach and trainer of over 20 years, to reach their full potential in physical fitness. As an advisor to Cizzle Brands, Mr. Saladino will provide his insights, expertise, and access to his vast professional network for the commercialization and promotion of Cizzle Brands’ product lines at a global scale.

Cizzle Brands Corporation (Cboe Canada: CZZL) ( the ‘Company or ‘Cizzle Brands’) , is pleased to announce that Don Saladino, a renowned coach and fitness expert to many A-List celebrities, professional athletes, and award-winning musicians has been engaged as an advisor to Cizzle Brands to help guide the Company’s commercialization journey in the health and wellness space. Under his agreement with Cizzle Brands, Mr. Saladino will provide sales, marketing, and promotional support for Cizzle Brands’ offerings, including through his TikTok (165k followers) and Instagram (432k followers) social media channels.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250121943080/en/

Don Saladino’s one-minute Intro Reel video can be viewed on YouTube: https://www.youtube.com/watch?v=5L57AYEjZF4 (Photo: Business Wire)

Mr. Saladino has developed a reputation for training several A-List Hollywood stars, including Ryan Reynolds, Blake Lively, Anne Hathaway, John Krasinski, Emily Blunt, Liev Schreiber, Hugh Jackman and Joanna Gaines. In 2020, Mr. Saladino pivoted from running a brick-and-mortar gym in New York City to operating a global online fitness business which includes workout programs and challenges, an e-commerce portal for supplements, the Don Saladino App (available on the Apple App Store and Google Play), and yearly fitness retreats. Mr. Saladino has an extensive network of celebrity personalities to whom he will be supplying Cizzle Brands’ products throughout the course of their training programs.

Additionally, Mr. Saladino has received extensive media coverage. Magazines such as Men’s Health , Women’s Health , and Muscle & Fitness have cited Mr. Saladino as a fitness expert. Muscle & Fitness has also featured Mr. Saladino on its print magazine cover in March 2018, October 2021, and November 2023. Other publications have featured Mr. Saladino including People , US Weekly , Cosmo , and Shape . Additionally, Mr. Saladino has done live fitness demonstrations on The Golf Channel , The Today Show , Good Morning America , Page Six TV , People NOW , E News , Fox News , and WebMD .

More information about Don Saladino can be found on his website at the following link: https://donsaladino.com/

Cizzle Brands Chairman and Chief Executive Officer, John Celenza, commented, ‘We are keen to be working with Don, as he is one of the most recognized names in the fitness world with a highly engaged following, a well-earned reputation for generating results, and a broad network of highly influential executives. Cizzle Brands is only getting started with building out its presence in the world of health and wellness. With Don’s knowledge of what the world’s most elite athletes, entrepreneurs, and actors are demanding, we expect he will prove to be extraordinarily valuable to us as an advisor.’

Regarding his appointment as an advisor to Cizzle Brands, Don Saladino commented, ‘In today’s marketplace, very few companies truly have what it takes to formulate and produce athlete-grade products for training, nutrition, hydration, and overall wellness while also being appropriate for active people of all ages. The proven team behind Cizzle Brands has already demonstrated their ability to meet this standard with the recent successful launch of CWENCH Hydration which has already sold more than one million ready-to-drink units in less than a year on the market, with even more exciting offerings set to hit the market soon. As someone who personally incorporates Cizzle Brands’ products into nutrition regimes for myself, my wife, and our two children, I am honoured to be part of the Cizzle Brands team, and there are exciting times to be had for all of us in 2025!’

Cizzle Brands also announced the issuance of 455,645 common shares (the ‘Settlement Shares’) of the Company at a deemed price of $0.31 in settlement of $141,250 in debt. The Settlement Shares were issued to a provider who elected to receive part of their service fee in shares as opposed to cash. The Settlement Shares will be subject to a statutory hold period expiring four months and one day after the date of issuance pursuant to National Instrument 45-102 – Resale of Securities .

Celenza added: ‘I’ve always sought to have our key partners invested in our success, so I was pleased when one of our key professional advisers opted to receive part of their fee in equity. To me, it is one of the highest endorsements we’ve received to date.’

About Cizzle Brands Corporation

Cizzle Brands Corporation is elevating the game in health and wellness. Through extensive collaboration and testing with leading athletes and trainers across several elite sports, Cizzle Brands has launched two leading product lines in the sports nutrition category: (i) CWENCH Hydration, a better-for-you sports drink that is now carried in over 1,200 stores in Canada, the United States, and Europe; and (ii) Spoken Nutrition, a premium brand of athlete-grade nutraceuticals that carry the prestigious NSF Certified for Sport® qualification. All Cizzle Brands products are designed to help people achieve their best in both competitive sports and in living a healthy, vibrant, active lifestyle.

For more information about Cizzle Brands, please visit: https://www.cizzlebrands.com/

Notice Regarding Images and Links: This press release may contain images and/or links to outside web pages, which could play an important role in providing the full context of the news update being conveyed through this press release. Some news aggregation services may remove these images and/or links at their discretion. Therefore, readers are encouraged to access SEDAR+ or the News section of the Cizzle Brands Corporation website to view this press release containing all images and/or links as originally published.

On behalf of the Board of Directors of the Company,

Cizzle Brands Corporation

‘John Celenza’

John Celenza, Chairman and Chief Executive Officer

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This news release contains ‘forward-looking information’ which may include, but is not limited to, information with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, such as, but not limited to: new products of the Company and potential sales and distribution opportunities; the role of Mr. Saladino with Cizzle Brands; the supply of Cizzle Brands’ products through Mr. Saladino’s training programs; the building of Cizzle Brands’ presence in the world of health and wellness; and the value of Mr. Saladino as an advisor to Cizzle Brands. Such forward-looking information is often, but not always, identified by the use of words and phrases such as ‘plans’, ‘expects’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’, or ‘believes’ or variations (including negative variations) of such words and phrases, or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company.

Forward looking information involves known and unknown risks, uncertainties and other risk factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include risks related to increased competition and current global financial conditions, access and supply risks, reliance on key personnel, operational risks, regulatory risks, financing, capitalization and liquidity risks. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation, except as otherwise required by law, to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors change.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250121943080/en/

For further information, please contact:

Setti Coscarella
Head of Corporate Development
investors@cizzlebrands.com
1-844-588-2088

Strategic Focus on Nature-Based Carbon Credit Solutions
Through Hemp Carbon Standard

Proposed non-brokered private placement of up to 30,000,000 units
at $0.05 per unit for aggregate gross proceeds of up to $1,500,000

Hempalta Corp. (TSXV: HEMP) (‘Hempalta’ or the ‘Company’) today announced an enhanced strategic focus on nature-based carbon credit solutions. As part of this focus, the Company will transition its operations to prioritize premium hemp-derived carbon credits through its subsidiary, Hemp Carbon Standard Inc. (‘HCS’), while continuing to manage its intellectual property and product lines under Hempalta Processing Inc.

In addition, the Company announced a proposed non-brokered private placement of up to 30,000,000 units of the Company (‘Units‘) at a price of $0.05 per Unit for aggregate gross proceeds of up to $1,500,000 (the ‘Private Placement‘). Each Unit will consist of one common share (‘Common Share‘) and one-half of one common share purchase warrant, with each full warrant (‘Warrant‘) being exercisable to purchase one Common Share at a price of $0.10 for two years from the date of issuance.

Highlights of Enhanced Focus on Carbon Credit Business

Hemp Carbon Standard

• A wholly owned subsidiary dedicated to developing and managing the scientific methodologies, farmer onboarding, and validation frameworks for hemp-based carbon credits. HCS plans to ensure transparency and integrity in measuring, verifying, and issuing high-quality credits that meet global market demand.

Hempalta Processing Inc.

Non-Brokered Private Placement

The Company intends to complete the Private Placement pursuant to available prospectus exemptions. The use of proceeds from the Private Placement is dependent on the final amount raised and will be used to: scale the HCS platform, to market carbon credits to corporate buyers, for general working capital and to pay the expenses of the Private Placement.

The Company may pay finders’ fees to eligible finders, in accordance with applicable securities laws and the policies of the TSX Venture Exchange (‘TSXV‘). The Private Placement is subject to approval of the TSXV, and all securities issued under the Private Placement will be subject to statutory hold periods expiring four months and one day from the date of issuance.

Comments from Management

‘Placing a direct strategic focus on our carbon credit business marks an important evolution for our company,’ said Darren Bondar, President and CEO of Hempalta. ‘The $1.5 million private placement at $0.05 per Unit offers investors an opportunity to support the next phase of our journey. We’re excited to focus on the scalable, low-capital potential of carbon credit solutions, while continuing to nurture our established product lines through Hempalta Processing Inc. This strategy aligns with global sustainability goals and positions us to capitalize on the growing market for nature-based climate solutions.’

Strategic Rationale

With global demand rising for verifiable carbon offset solutions, Hempalta is uniquely positioned to leverage industrial hemp’s carbon sequestration potential. Going forward the Company aims to:

1. Provide Credible Carbon Credits: Aligning HCS with recognized standards, third-party verifiers, and remote sensing technology to realize maximum benefits of hemp-based offsets.
2. Expand Farmer Participation: Incentivizing regenerative industrial hemp cultivation through robust revenue-sharing models tied to carbon credit issuance.
3. Enhance Stakeholder Value: Focusing on generating high-margin, recurring carbon credit sales, which are intended to drive long-term growth.

Next Steps & Corporate Outlook

The Company believes these efforts can facilitate a transition beneficial for existing shareholders, aligning them with an evolving revenue model that taps into nature-based carbon credits.

Investor Updates

You can stay updated on Hempalta’s operating developments and investor announcements by subscribing to the mailing list on the Investor Relations website page. An updated version of the Company presentation is also available on the website.

About Hempalta

Hempalta Corp. (TSXV: HEMP) is a nature-based carbon credit provider utilizing industrial hemp’s potential to sequester carbon. Through its subsidiary Hemp Carbon Standard Inc. (HCS), the Company develops methodologies and supports farmers in monetizing regenerative farming practices. In addition to HCS, through its subsidiary Hempalta Processing Inc., the Company retains its established hemp-based product lines for licensing, supporting a balanced portfolio that addresses modern sustainability needs.

Learn more at www.hempalta.com or contact Investor Relations at invest@hempalta.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Forward-Looking Information

This news release contains statements and information that, to the extent that they are not historical fact, may constitute ‘forward-looking information’ within the meaning of applicable securities legislation. Forward-looking information is typically, but not always, identified by the use of words such as ‘will’, ‘expected’, ‘plans’, ‘aims’, ‘intends’ and similar words, including negatives thereof, or other similar expressions concerning matters that are not historical facts. Forward-looking information in this news release includes, but is not limited to, statements regarding: the enhancement of the strategic focus on the nature-based carbon credit solutions; the transition of the Company’s operations to prioritize premium hemp-derived carbon credits through its subsidiary HCS; the Company’s plans and intentions with respect to the proposed operations of HCS, including its aims to provide credible carbon credits, expand farmer participation and enhance stakeholder value, and the expected benefits and results thereof; the Company’s plans and intentions with respect to the proposed operations of Hempalta Processing Inc., including the offering of key product lines for licensing, the ceasing of active processing operations and the marketing and sale of pre-processed products, and the expected benefits and results thereof; the Private Placement, including the proposed use of proceeds thereof; and the Company’s pursual of strategic partnerships, the marketing of its turnkey hemp production facility and processing equipment, and the entertaining of licensing proposals to advance its product lines. Such forward-looking information is based on various assumptions and factors that may prove to be incorrect, including, but not limited to, factors and assumptions with respect to: the ability of the Company to successfully implement its strategic plans and initiatives and the expected benefits therefrom; the anticipated benefits of the business of HCS; the anticipated benefits from marketing the processing equipment; the ability of farms and sites currently signed up by HCS to grow hemp; the Private Placement and the ability of the Company to raise the anticipated proceeds under the Private Placement; the Company using the proceeds of the Private Placement as currently anticipated; required regulatory approvals; the ability of the Company to effect its proposed strategy and business plans; and the ability of HCS to sell carbon removal credits through the Voluntary Credit Market. Although the Company believes that the assumptions and factors on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that it will prove to be correct or that any of the events anticipated by such forward-looking information will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom. Actual results may vary from those currently anticipated due to a number of factors and risks including, but not limited to: the risk that the Company will not be able to effect the proposed focus on the carbon credit business as anticipated or at all, and the risk that the carbon credit business will not yield benefits as anticipated or at all; regulatory requirements, including any requirements of the TSXV; the risk that the Company will not be able to effect the sale of the processing equipment and the risk that the sale will not yield the benefits as anticipated or at all; delays in obtaining or failure to obtain required regulatory approvals for the Private Placement; the risk that the Private Placement will not be completed as anticipated or at all, including inability to raise proceeds under the Private Placement; the inability of the Company to utilize the anticipated proceeds of the Private Placement as anticipated; risks associated with general economic conditions; conditions in the carbon credit markets; adverse industry events; the risk that the Company will not be able to successfully market the hemp production facility and processing equipment, and if done successfully, the risk that the benefits therefrom will not be as anticipated; delays or changes in the Company’s plans with respect to HCS and Hempalta Processing Inc.; the risk that farms and sites currently signed up by HCS will not grow or be able to grow industrial hemp as anticipated or at all; the risk that HCS may not be able to sell carbon removal credits as anticipated or at all; adverse weather conditions affecting the growth of hemp; future legislative, tax and regulatory developments; and the ability of management to execute its business strategy, objectives and plans. The forward-looking information included in this news release is made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise, except as required by applicable law.

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. NEWSWIRES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237917

(TheNewswire)

Coquitlam, BC TheNewswire – January 21, 2025 – Grid Battery Metals Inc. (the ‘Company’ or ‘Grid’) ( TSXV: CELL, OTCQB: EVKRF FRA: W47 ) is pleased to announce the results of its fall 2024 reverse circulation drilling program on the Company’s claim block at Silver Peak, Clayton Valley, Esmeralda County, Nevada.  This strategic land package, covering approximately 2,300 acres (930 ha), directly adjoins the western portion of lithium producer Albemarle’s (NYSE: ALB) evaporation ponds and is nearby Century Lithium Corp.’s (TSXV: LCE) (OTCQB: CYDVF) proposed 5,430-acre Angel Island Lithium Mine, which recently released a Positive Feasibility Study detailing a 40-year mine life and an after-tax NPV8 of $3.01 billion .

Drilling Image from the Clayton Valley Lithium Project

Click Image To View Full Size

Mr. Tim Fernback, Company President and CEO comments ‘Now that we have the results of the fall 2024 exploration program at our Clayton Valley Lithium Project, we are excited about the next steps of further testing the lithium content of the claystones and brine in the southern part of the claim which is near the Silver Peak Lithium Mine. This area holds the greatest promise as a lithium deposit for our company at Clayton Valley. One of the stated goals of the fall drilling program was to test the depth of the accumulated lithium brine and claystones on our property which was completed.  With this knowledge, we can propose a significant follow-on exploration program that will work towards an eventual maiden resource calculation and NI# 43-101 Preliminary Economic Assessment. We remain very excited about this opportunity in Nevada for our company and shareholders.’

Summary of the 2024 Fall Exploration Program at Clayton Valley

Grid Battery Metals completed a five-hole drill program in late October 2024, and assay results have since been returned.  A total of 4735 feet were drilled to test for economic lithium clay and lithium brines with the Company landholdings located 1.2 miles northeast of Silver Peak, Nevada. Figure 1 shows the locations of the completed 2024 and 2021 holes.

The ingredients for lithium deposition including basin bounding faults, tuffaceous sediments, and geothermal waters are present on the Grid claims (Figure 2).  Geologically, the property lies above a north trending fault graben on the west side of Clayton Valley called the Goat Island Graben. The surface is composed of alluvium, dunes, and playa sediments. Hot-spring related travertine, sinter, and tufa deposits occur on the west edge of the graben andare thought to represent upwelling and lithium bearing geothermal water from the deeper Clayton Valley basins to the east.

Tuffaceous sediments (including sinter and travertine), and alluvial gravels with anomalous lithium were encountered in nearly every hole.  Water temperatures were elevated in all holes with a peak temperature of 85˚C in RCV-05.  The presence of sinter and travertine in the holes suggests that hot-springs sediments covered a much broader area than the mapped exposures indicate.

Table 1 is a summary of assay results. Water assays were collected in 500 ml plastic bottles every 20 feet and sent to ALS Global where they were weighed, filtered, acidified, and analyzed by ICP-AP.  Cutting samples were collected every 5 feet and sent to Bureau Veritas in Reno for analysis. Samples were processed, weighed and air-dried.  Samples were crushed to 70% passing 10 mesh in a 250 g split.  The analysis was by multi-acid digest with ICP-MS/ES finish. QA/QC standards, blanks, and field duplicates were inserted approximately every 20 samples.

Lithium concentrations in water samples were determined in all holes. The best drill-cutting intercept occurs in RCV-04 in tuffaceous sediments between 80 and 250 feet with an average of 298 ppm Li that includes grades to 741 ppm and is worthy of further exploration . Published low-grade clay-hosted lithium assays are approximately 800-850 ppm.  While lithium assays generally diminish to the north, there is still untested property to the south to explore for shallow, but higher-grade lithium which is of considerable interest to the Grid Exploration Team.

The anticipated thickness of the sediments above Cambrian basement (1500-1800 feet) in the Goat Island Graben appears thinned by the presence of basalt with an unknown thickness that may occur along the length of the Graben. However, this ‘flow’ may lie on top of older sediments within the graben, G. and could potentially act as an ideal aquitard for lithium brines (Figure 2). Seismic survey lines would help to establish the basalt depth and plan for deeper drill targets. Grid Battery Metals will consider its exploration options for 2025 with a primary focus on the southern area of the claim block which returned the highest lithium drill results for the Company.

Figure 1: Grid Battery Metals property with drill hole locations, faults, and hot-spring related rocks

Click Image To View Full Size

Figure 2: Interpretive north facing cross-section showing extended hot-springs rocks and basalt. Section is located between RCV-01 and RCV-05

Click Image To View Full Size

Table1: Summary of Results

Click Image To View Full Size

Mr. Steven McMillin, P.G. Company Qualified Person, states ‘For a follow-up program consisting of shallow holes less than 600 feet could rapidly test for higher grade lithium to the south of RCV-04. For a deeper test beneath basalt, an active seismic test line should be considered to identify the basalt thickness and hopefully the graben bottom. Drilled lithologies, particularly basalt, will help calibrate the seismic results. If the results indicate there is a lower package of sediments, then more lines to the south RCV-04 and possibly over holes drilled to the north could be conducted. Magnetotelluric results in conjunction of the seismic results can be reinterpreted. From this, a much better geologic model can be constructed to plan deeper drill holes’.

Mr. McMillin continues ‘There is a possibility of a deeper section of sediments below the basalt in the Goat Island Graben. Basalt could be an excellent aquitard for lithium brines.’

Assays

Cutting samples were sent to Bureau Veritas (‘BV’) laboratory in Reno. Samples were processed, weighed and air-dried. The air drying was recommended by  Applied Hydrologic of Reno because normal drying temperatures in a lab may volatilize lithium. Unfortunately, additional time was added to sample processing. After weighing, samples were crushed to 70% passing 10 mesh in a 250 g split. The analysis was by multi-acid digest with ICP-MS/ES finish.

Water samples were delivered to the ALS Global laboratory in Elko. The water samples were kept in a cooler with ice until delivery. Samples were logged in, filtered, and acidified. The analysis was done by ICP instrumentation.

Geology Logging

Lithology samples were captured every 5 feet using a strainer and placed into 20-compartment plastic chip trays for geologic logging. Chip logging into an Excel spreadsheet was conducted during night and day shifts.  and lithology, structure, alteration, and mineralization were logged into separate worksheets.

Drillhole Geology

The geology of all holes drilled is summarized in Table 1. Material drilled includes lacustrine alluvial sediments, and basalt Common features encountered in nearly every hole include:

• Thin recent alluvium cover of approximately 20 feet.

• Clay and travertine/sinter intervals to approximately 400 feet from the surface.

• Basalt from approximately 400 feet with an unknown total thickness. The exceptions

are RCV-06 and RCV-08 where no basalt was drilled.

• Groundwater temperatures of 85̊-120̊ F. RCV-05 ended with 180˚ F water.

• Evidence of active hydrothermal alteration at multiple elevations in multiple

lithologies.

• Water flows of up to 220 gallons per minute.

Alteration in tuffaceous units consists of distinct greenish or gray clays.

Qualified Person

Mr. Steven McMillin, P.G. is an independent qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical information contained within this news release.

About Grid Battery Metals Inc. www.gridbatterymetals.com .

Grid Battery Metals Inc. is a Canadian based exploration company whose primary listing is on the TSX Venture Exchange.  The Company’s maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.

About Texas Springs Property

The Company owns a 100% interest in the Texas Spring Property which consists of mineral lode claims located in Elko County, Nevada. The Property is in the Granite Range southeast of Jackpot, Nevada, about 73 km north-northeast of Wells, Nevada. The target is a lithium clay deposit in volcanic tuff and tuffaceous sediments of the Humbolt Formation. A Phase 1 exploration program at the Texas Springs Property (Fall 2023) yielded average lithium grades of 2010 ppm, applying a 1,000 ppm cut-off, and up to  5,610 ppm Lithium .

The Texas Spring property adjoins the southern border of the Nevada North Lithium Project – owned by Surge Battery Metals Inc. (‘Surge’) (TSXV: NILI, OTC: NILIF) and comprised of 725 mineral claims.  Surge’s first round of drilling identified strongly mineralized lithium bearing clays. The average lithium content within all near surface clay zones intersected in the 2022 drilling program, applying a 1000 ppm cut-off, was 3254 ppm. (Press release March 29, 2023 ).  More recent results have shown higher grade lithium up to 8070 ppm on this property after initial drilling (Press release September 12, 2023 ). Our exploration results are on-trend with these results.

About Clayton Valley Lithium Project

The Company owns a 100% interest in 113 lithium lode and placer claims covering over 930 hectares in Clayton Valley. Clayton Valley is a down-dropped closed basin formed by the Miocene age Great Basin extension and is still active due to movement along the Walker Lane structural zone.  As a result, the basin has preserved multiple layers of lithium bearing volcanic ash, resulting from multiple eruptive events over the past 6 million years including eruptions from the 700,000-year-old Long Valley Caldera system and related events.  These ash layers are thought to contribute to the lithium brines extracted by Albemarle and are also likely involved in the formation of the exposed lithium rich clay deposits on the east side of Clayton Valley.

About the Volt Canyon Lithium Property

The Company owns a 100% interest in 80 placer claims covering approximately 635 hectares of alluvial sediments and clays located 122 km northeast of Tonopah, Nevada.

About the British Columbia Copper Project

The Company acquired a 100% interest in 17 mineral claims comprising 27,525 hectares (approximately 275 km 2 ) located in North Central British Columbia, that has conditional approval by the TSX Venture Exchange at the time of this news release. The region is host to numerous operating mines, good infrastructure including experienced exploration and supporting services.  Prominent among early discoveries in the Omineca region include the nearby Lustdust/Stardust Copper – Gold deposit; the Kwanika Copper – Gold deposit and the Lorraine Copper deposit (all of which are owned by ( NorthWest Copper Corp. ( TSXV: NWST ) ).

The Company’s claims are also located between Centerra Gold Inc.’s ( TSX: CG, NYSE: CGAU ) prominent Copper/Gold assets, the Kemess North project and the operating Mount Milligan mine, which has produced over 1.8 million ounces of gold and 742 million pounds of copper (Technical Report on the Mount Milligan Mine, November 7, 2022, Borntrager. B, et al.).

On Behalf of the Board of Directors

‘Tim Fernback’

Tim Fernback, President & CEO

Contact Information:

Email: info@gridbatterymetals.com

Phone: 604- 428-5690

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. It should be noted that results from any adjacent property(s) are not an indication of what may be found on the Company’s property(s).

Copyright (c) 2025 TheNewswire – All rights reserved.

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) (‘Forum’ or the ‘Company’) announces drill results for the Qavvik anomaly, its second basement hosted deposit located within Forum’s 100% owned Aberdeen Project. This highly successful program intersected a 296-metre-wide zone of uranium mineralization with grades up to 8.2% U3O8 in a newly identified lense and resulted in more than 20 assays with grades greater than 1% U3O8. Mineralization is open to the northeast and southwest, and the shallow depths along with the thick overall uranium intercepts demonstrates the open pit potential of this deposit. With multiple drill targets on the property, the Aberdeen project has the potential to unfold into a generational uranium district. (Figure 1).

HIGHLIGHTS

• QAV24-001 intersected a 296 m wide zone of uranium mineralization consisting of numerous discreet lenses from 36 m to 332 m, and QAV24-002 intersected over 190 m of discreet mineralized lenses from 192 m to 384 m. On the Qavvik Grid, uranium mineralization has been intersected over a 150 metre northeast-southwest trend and is open for extension of the deposit.

• The highest mineralization intervals from QAV24-001 are as follows:

• 1.49% U3O8 over 3.30 m (171.9 – 175.2 m)
  • Max. of 8.17% U3O8 over 0.5 m at 172.0 m

• 1.99% U3O8 over 0.3 m (205.3 – 205.6 m)

• 0.82% U3O8 over 4.9 m (291.4 – 296.3 m)
  • Max. grade of 7.92% U3O8 over 0.1 m at 292.3 m

• 0.64% U3O8 over 2.7 m (317.1 – 319.8 m)
  • Including 1.22% U3O8 over 1.4 m at 318.1 m
  • Max. grade of 6.3% U3O8 over 0.2 m at 318.8 m

• The highest mineralization intervals from QAV24-002 are as follows:

• 0.40% U3O8 over 3.5 m from 192.9 to 196.4 m including:
  • 1.69% U3O8 over 0.6 m at 195.9 m
  • Max. grade of 2.44% U3O8 over 0.2 m at 196.2 m

• 0.66% U3O8 over 1.7 m from 197.0 to 198.7 m including:
  • Max. grade of 3.08% U3O8 over 0.2 m at 197.4 m

Rick Mazur, CEO, commented, ‘These exceptional results from our Qavvik deposit are in line with what we believe to exist in the Thelon Basin – basement and unconformity contact type deposits with the same size potential as the Athabasca Basin. With Tatiggaq only 5 km from Orano’s 127 million pound Kiggavik uranium deposit and Qavvik demonstrating the potential for an economic resource, we believe that we are building a new tier one uranium district. The unconformity style alteration of the Thelon sandstone and basement rocks that has been observed at our Ned, Ayra and Loki drill targets provides even more growth potential for the project.’

Dr. Rebecca Hunter, Forum’s VP, Exploration, stated, ‘Going into 2024, it was our first opportunity as a company to showcase the size and grade potential of the Qavvik deposit. Our objective to drill at a shallower angle in order to intersect multiple lenses was highly successful both in terms of grade and size. The thick intersection in our first drill hole of several hundred metres of uranium mineralization is quite prolific. In addition, the high grades demonstrate tremendous potential for increasing the resource at Qavvik. We are very encouraged by these results and look forward to conducting more infill and expansion drilling at Qavvik.’

QAVVIK DRILL PROGRAM – INFILL AND EXPANSION

The Qavvik anomaly, hosts Forum’s second deposit on the Aberdeen Project. The Aberdeen Project land package consists of approximately 95,000 ha or 950 square kilometres (365 square miles) of mineral claims in the Thelon Basin, located approximately 100 km west of Baker Lake. Qavvik is an 800mx800m gravity low 15 km west of the Tatiggaq deposit, which is adjacent to the 127 million pound Kiggavik project held by Orano/Denison/UEC*. The mineralization is hosted in steep-dipping structures as well as along flat-lying foliation planes within the host rock. The area has been tested by 28 historical holes by Cameco from 2009 to 2012. These holes were largely drilled on 25 to 50 m centres at an orientation of -85 degrees to the southeast. Another nine short holes drilled in the late 70’s, early 80’s by Marline Oil and Anaconda intersected alteration but no uranium.

Forum completed two drill holes into the Qavvik anomaly in 2024 totaling 835 m (Table 1). The objective of QAV24-001 was to drill at a shallower angle in a more optimal direction to crosscut multiple lenses rather than the historical holes that drilled steeply along the mineralized lenses. The objective of QAV24-002 was to intersect and extend the main lower lense intersected in historical drilling. Both these tests were successful and will guide the expansion targeting in 2025. The structural setting of Qavvik is still being interpreted but the main controls on mineralization appear to be east-northeast subsidiary faults, and potentially a northeast fault that transects the area. The mineralization is open throughout the anomaly but in particular, to the northeast and southwest along these fertile east-northeast trending fault zones.

QAV24-001 intersected mineralization over 296 m and the heart of this intercept includes over 0.12% U3O8 over 162.4 m from 170.0 to 332.4 m. Over 20 intercepts with greater than 1% U3O8 were identified in the drill hole and show the grade and size potential of this mineralized area. High-grade intercepts of 8.17% U3O8 over 0.5 m at 172.0 m, 7.92% U3O8 over 0.1 m at 292.3 m and 6.30% U3O8 over 0.2 m at 318.8 m are the highest grade intercepts intersected at Qavvik to date from all the historical drilling. Table 2 outlines the mineralized intercepts intersected in QAV24-001 and QAV24-002. Figure 2 is a plan map showing the 2024 drill holes and the gravity anomaly that is being tested. Figure 3 is a simplified cross section of QAV24-001 showing the extent of mineralization and the main geological units. Figure 4 is a core photograph of the high-grade lense intersected in QAV24-001.

Table 1 2024 Drill Hole Data for Qavvik Zone drill holes. UTM datum WGS84 Zone 14N.

Table 2 U₃O₈ assay results for QAV24-001 and QAV24-002 (0.01% cutoff).

Figure 1 Property map with the locations of the 2024 diamond drilling program on the Aberdeen Project. The drilling reported is within the Qavvik area.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/237915_50ca35b254ec68d5_003full.jpg

Figure 2 The location of the 2024 Qavvik drilling on the gravity anomaly, the faint dots are the historical holes drilled by Cameco. The main faults are outlined in the dashed lines and the preliminary outline of the known mineralization is in pink.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/237915_50ca35b254ec68d5_004full.jpg

Figure 3 QAV24-001 cross-section showing the main lithologies and the uranium assay intercepts.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/237915_50ca35b254ec68d5_005full.jpg

Figure 4 Core photo of the 0.5 m mineralized lense that intersected 8.2% U3O8 at 172.0 to 172.5 m.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/237915_50ca35b254ec68d5_006full.jpg

QUALITY ASSURANCE AND QUALITY CONTROL (QA/QC)

Forum implemented a robust QA/QC program for its 2024 drill program, expanding upon the program used in 2023. This sampling program was used in the resampling program as well. The 2024 QA/QC program utilized control samples comprising certified reference materials (CRMs), duplicates, and blank samples. CRMs were used to monitor laboratory accuracy in the analysis of mineralized and non-mineralized samples, duplicate samples were used to monitor analytical precision and repeatability at the preparation and analytical stages, and blank samples were used to monitor for cross contamination during preparation and analytical stages.

Control samples were inserted every 10^th sample, alternating between blank, duplicate, and uranium CRM. Duplicate samples alternated between field, coarse, and pulp duplicates. Three low grade uranium CRMs were alternated between: BL-4a (0.1248% U), DH-1a (0.2629% U), and BL-2a (0.426% U). A high-grade uranium CRM (BL-5; 7.09% U) was inserted into the sample sequence when counts exceeded 10,000 cps. Blanks and duplicates were inserted at a rate of 1-in-20 in non-mineralized holes. For mineralized holes, blanks, duplicates, and uranium CRMs were inserted at a rate of 1-in-30.

In addition to Forum’s QA/QC program, SRC Geoanalytical Laboratories (SRC) conducted an independent QA/QC program, and its laboratory repeats, non-radioactive laboratory standards (BSL18, BSM, BSH, DCB01), and radioactive lab standards (BL2A, BL4A, BL5, and SRCU02) were monitored and tracked by Forum staff.

For the resampling program the original sample intervals were identified from markers that still were present on the core boxes and quarter split samples were obtained from the remaining half split core that remained in the core boxes. The core was weathered and broken down in places due to the strong clay content in much of the mineralized intervals but it did not appear that any core was missing and it was in otherwise good condition.

ASSAYING AND ANALYTICAL PROCEDURES

Composite, Spot, and Assay samples were shipped to the ISO/IEC 17025: 2005 accredited SRC Geoanalytical Laboratories in Saskatoon for sample preparation and analysis.

Non-mineralized systematic and spot samples are dried, crushed, and pulverized for analysis by the ICP-MS Exploration Package for sandstone and basement (codes ICP-MS1 and ICP-MS2 respectively). This analytical package consists of three separate analyses of inductively coupled plasma – mass spectrometry (ICP-MS) and inductively coupled plasma – optical emission spectrometry (ICP-OES) on the partial and total digestions of an aliquot of sample pulp material. Partial digestion is completed via nitric and hydrochloric acids and total digestion is completed via hydrofluoric, nitric, and perchloric acids. The SRC implements several instrumental and analytical quality control procedures for this analytical package. Instrumental checks comprise two calibration checks and two calibration standards. Analytical quality control consists of one blank, two reference materials, and one pulp replicate (duplicate) in each group of 40 samples.

Samples with radioactivity over 500 CPS and indicated as assay samples were analysed using the ICP-MS Exploration Package (ICP-MS), ICP-OES (ICP1), and U₃O₈ Assay (U₃O₈ wt% Assay). The sample preparation procedures for ICP-MS and ICP1 are the same, and the U₃O₈ wt% assay uses an aliquot of sample pulp digested in hydrochloric and nitric acid followed by ICP-OES finish. This method is capable of detecting as low as 0.001 weight percent (wt%) U₃O₈. All Assay samples were also analysed for gold by fire assay using aqua regia with ICP-OES finish.

Boron analysis was conducted on all sample types and is completed by fusing an aliquot of sample pulp in a mixture of Na₂O₂ and NaCO₃, followed by ICP-OES. The SRC inserts a blank, an in-house reference material, and a replicate sample with each batch for analytical quality control and uses a 1000 ppm B commercial certified solution for equipment calibration.

DOWNHOLE RADIOMETRIC PROBING METHOD

Of the 30 holes completed in 2024,18 were successfully radiometrically logged using a 2GHF-1000 Triple Gamma downhole probe sourced from Terraplus in Ontario, Canada. The probe measures natural gamma radiation every 10 cm along the length of the drill hole. The total count NaI, which reports in count per second, may not be directly or uniformly related to uranium grades and are only an indication of the presence of radioactive minerals.

*Source: The Kiggavik deposit is held by Orano (66.2%), Denison (16.9%) and Uranium Energy Corp. (16.9%). Kiggavik mineral resources are 127.3 million pounds Indicated mineral resource grading 0.55% U3O8 and 5.4 million pounds Inferred mineral resource grading 0.33% U3O8 as reported on the Denison Mines Ltd. Corporate Presentation dated November 2024, p. 23 on their website and the Orano 2023 Activities Report converted from tonnes U to pounds U3O8 and from %U to %U3O8. Cut-off grades and other assumptions, parameters and methods used to estimate resources are unknown. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and the issuer is not treating the historical estimate as current mineral resources or mineral reserves.

Rebecca Hunter, Ph.D., P.Geo., Forum’s Vice President of Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.

ABOUT Forum Energy Metals

Forum Energy Metals Corp.(TSXV: FMC) (OTCQB: FDCFF) is focused on the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. In addition, Forum holds a diversified energy metal portfolio of copper, nickel, and cobalt projects in Saskatchewan and Idaho. For further information: https://www.forumenergymetals.com.

This press release contains forward-looking statements. Forward-Looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Forward-Looking information is subject to known and unknown risks, uncertainties and other factors that may cause Forum’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include but are not limited to: uncertainties related to the historical data, the work expenditure commitments; the ability to raise sufficient capital to fund future exploration or development programs; changes in economic conditions or financial markets; changes commodity prices, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or an inability to obtain permits required in connection with maintaining or advancing its exploration projects.

ON BEHALF OF THE BOARD OF DIRECTORS

Richard J. Mazur, P.Geo.
President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237915