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New Age Metals Dramatically Increases Land Holdings for its Lithium Division in the Winnipeg River Pegmatite Field

Press Release

August 30, 2022,Rockport, Ontario – New Age Metals Inc. (TSX.V: NAM; OTCQB: NMTLF; FSE: P7J.F) (“NAM” or the “Company”) in conjunction with its partner Mineral Resources Ltd. is pleased to announce that it has increased its land position in the highly prospective Winnipeg River Pegmatite Field from 11,620 to 21,611 hectares adding 8984 new hectares, (90 square kilometers) through claim staking.

Newly acquired properties:

  • Bird River Lithium claim block with 17 claims (3114 ha) hosting the Lac du Bonnet Pegmatite Group and the Shatford Lake Pegmatite Group.
  • 20 claims (4101 ha) to the East and West of Lithium One which hosts the extension of the Greer Lake Pegmatite Group.
  • 8 claims (1769 ha) added to its existing Lithman East property hosting the Birse Lake Pegmatite Group.
  • New Age Metals is the largest claimholder in the Winnipeg River Pegmatite Field with 11 properties totalling 21,611 ha.

The expanded land position, identified from historical data compilation and review incorporates prospective trends and pegmatite groups with the potential to host lithium, cesium, and tantalum bearing pegmatites. The newly acquired land holdings are contiguous with existing claims as seen in Figure 1. The Company’s $1.8 million dollar exploration budget for 2022 includes geophysics and prospecting over portions of these new holdings.

Figure 1:New Age Metals Claims Map

New Age Metals is the largest claimholder in the Winnipeg River Pegmatite Field with 11 properties totalling 21,611 ha. The Winnipeg River Pegmatite Field is host to numerous Lithium-rich Pegmatites in addition to the world-class Tanco Pegmatite, a highly fractionated lithium-cesium-tantalum (LCT) type pegmatite that has been mined at the Tanco Mine as an underground operation since 1969 for tantalum, cesium, and lithium.

About NAM

New Age Metals is a junior mineral exploration and development company focused on the discovery, exploration, and development of green metal projects in North America. The Company has two divisions: a Platinum Group Metals division and a Lithium/Rare Element division.

The PGM Division includes the 100% owned, multi-million-ounce, district scale River Valley Project, one of North America’s largest undeveloped Platinum Group Metals Projects, situated 100 km by road east of Sudbury, Ontario. The Company completed a positive Preliminary Economic Assessment on the Project in 2019 and, is fully financed to complete a Pre-Feasibility Study on the Project in Q3-2022. In addition to River Valley, the Company owns 100% of the Genesis PGM-Cu-Ni Project in Alaska and is working towards securing a option/ joint venture partner to help develop this road accessible drill ready project.

The Lithium Division is one of the largest mineral claim holders in the Winnipeg River Pegmatite Field, where the Company is exploring for hard rock lithium and various rare elements such as tantalum and rubidium. Further Exploration plans for 2022 include continued mapping/sampling field program following up on prospective trends outlined in the magnetic data, a maiden drill program on the Lithium One Project, and phase two drill program at Lithium Two Project. The company has a partnership with Mineral Resource Limited (MRL, ASX: MIN), one of the top 5 global lithium producers to explore and develop the Company’s lithium project portfolio. The 2022 budget for the Company’s Lithium Division is $1.8 million.

Our philosophy is to be a project generator with the objective of optioning our projects with major and junior mining companies through to production. The Company is actively seeking an option/ joint venture partner for its road-accessible Genesis PGM-Cu-Ni project in Alaska.

Investors are invited to visit the New Age Metals website at www.newagemetals.com where they can review the company and its corporate activities. Any questions or comments can be directed to [email protected] or Harry Barr at [email protected] or Farid Mammadov at [email protected]  or call 613 659 2773.

Qualified Person

The technical information in this news release has been reviewed and approved by Lynde Guillaume (Senior Geologist, Axiom Exploration Ltd.), a Qualified Person, and a Professional Geoscientist (P.Geo) who is a registered member of the ‘Engineer and Geosciences of Manitoba’ (no. 47952).

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If you have not done so already, we encourage you to sign up on our website (www.newagemetals.com) to receive our updated news.

On behalf of the Board of Directors

“Harry Barr”

Harry G. Barr

Chairman and CEO

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