Stockwatch

New Energy Metals Corp (2)
Symbol	ENRG
Shares Issued	28,450,767
Close 2023-02-22	C$ 0.43
Market Cap	C$ 12,233,830
Recent Sedar Documents

New Energy receives conditional TSX-V OK for Roslyn buy

2023-02-22 18:38 ET - News Release

Wei Subject: New Energy Metals Press Release Word Document File: '\\swfile\EmailIn\20230222 151521 Attachment 20230223 ENRG Conditional Approval Roslyn Property.docx' 1 2 NEW ENERGY METALS ANNOUNCES RECEIPT OF CONDITIONAL APPROVAL FOR THE ROSLYN PROPERTY Vancouver, British Columbia - (February 23, 2023) - New Energy Metals Corp. (TSXV: ENRG) (OTCPink: NEMCF) ("New Energy Metals" or the "Company") is pleased to announce that it has received conditional approval from the TSX Venture Exchange (the "TSXV") for its proposed acquisition of the Roslyn Lithium Property (the "Roslyn Property") as previously announced on December 6, 2022. The Company entered into an option agreement to acquire a 100% interest in the Roslyn Property comprised of 12 claims (254 cells) totaling approximately 5,100 hectares located 50 kilometers northeast of Nipigon, Northwestern Ontario. The Roslyn Property is located 20 km southeast of the Georgia Lake pegmatite field and 35 km southeast of where Rock Tech Lithium published a preliminary economic assessment supporting the indicated mineral resource of 10.6 Mt (million tonnes) grading 0.88% Li2O (lithium oxide) and an inferred mineral resource of 4.2 Mt grading 1% Li2O. In consideration for the acquisition, the Company will make aggregate cash payments of $2,300,000 over a period of 3 years, issue 1,430,000 common shares within 60 days of signing of the Agreement and issue an additional 800,000 common shares over a period of 2 years. The optionors will retain a 3% net smelter return (NSR) royalty on the property of which 0.5% can be repurchased by the Company for $1 million. Completion of the acquisition is subject to the satisfaction of conditions precedent including completion of all outstanding TSXV filing requirements and receipt of final TSXV approval. ON BEHALF OF THE BOARD OF DIRECTORS, New Energy Metals Corp. Rishi Kwatra CEO & Director #2710 - 200 Granville Street Vancouver, BC V6C 1S4, Canada Tel: 778.510.5757 www.new-enrg.com About New Energy Metals Corp. New Energy Metals Corp. is a Canadian-based resource company listed on the TSX Venture Exchange under the symbol "ENRG". The Company has an option to purchase a 100% interest in the Roslyn Lithium property, covering 5,100 hectares located 20 km southeast of the Georgia Lake Pegmatite Field and 35 km southeast of where Rock Tech Lithium just published a PEA supporting the indicated mineral resource of 10.6 Mt (million tonnes) grading 0.88% Li2O and an inferred mineral resource of 4.2 Mt grading 1.0% Li2O (https://www.rocktechlithium.com/news/georgia-lake-project:-pre-feasibility-study-published). The Company also has an option to purchase a 100% interest in the Troitsa Copper property covering approximately 7,000 hectares located in the Omineca Mining Division of British Columbia. 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. Forward Looking Statements This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities laws (collectively, "forward-looking statements"). Forward-looking statements in this news release relate to, among other things: receipt of approval from the TSX Venture Exchange for the Roslyn Agreement; acquiring an interest in the Troitsa Copper Property and Roslyn Lithium Property; and all other statements that are not historical facts, particularly statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance of the Company. Often, but not always, forward-looking statements can be identified through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook". Forward-looking statements contained in this news release are made based on reasonable estimates and assumptions made by management of the Company at the relevant time in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate and reasonable in the circumstances. Forward-looking statements contained in this news release are made as of the date of this news release and the Company will not update any such forward-looking statements as a result of new information or if management's beliefs, estimates, assumptions or opinions change, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are beyond the Company's control, which could cause actual results, performance, achievements and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include all factors outlined in the Company's publicly filed documents under the Company's profile on SEDAR at www.sedar.com. The Company cautions that the list of risk factors and uncertainties described in its publicly filed documents on SEDAR is not exhaustive and other factors could materially affect its results. New factors emerge from time to time, and it is not possible for the Company to consider all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement. PDF Document File: Attachment 20230223 ENRG Conditional Approval Roslyn Property.pdf NEW ENERGY METALS ANNOUNCES RECEIPT OF CONDITIONAL APPROVAL FOR THE ROSLYN PROPERTY Vancouver, British Columbia (February 23, 2023) New Energy Metals Corp. (TSXV: ENRG) (OTCPink: NEMCF) ("New Energy Metals" or the "Company") is pleased to announce that it has received conditional approval from the TSX Venture Exchange (the "TSXV") for its proposed acquisition of the Roslyn Lithium Property (the "Roslyn Property") as previously announced on December 6, 2022. The Company entered into an option agreement to acquire a 100% interest in the Roslyn Property comprised of 12 claims (254 cells) totaling approximately 5,100 hectares located 50 kilometers northeast of Nipigon, Northwestern Ontario. The Roslyn Property is located 20 km southeast of the Georgia Lake pegmatite field and 35 km southeast of where Rock Tech Lithium published a preliminary economic assessment supporting the indicated mineral resource of 10.6 Mt (million tonnes) grading 0.88% Li2O (lithium oxide) and an inferred mineral resource of 4.2 Mt grading 1% Li2O. In consideration for the acquisition, the Company will make aggregate cash payments of $2,300,000 over a period of 3 years, issue 1,430,000 common shares within 60 days of signing of the Agreement and issue an additional 800,000 common shares over a period of 2 years. The optionors will retain a 3% net smelter return (NSR) royalty on the property of which 0.5% can be repurchased by the Company for $1 million. Completion of the acquisition is subject to the satisfaction of conditions precedent including completion of all outstanding TSXV filing requirements and receipt of final TSXV approval. ON BEHALF OF THE BOARD OF DIRECTORS, New Energy Metals Corp. Rishi Kwatra CEO & Director #2710 200 Granville Street Vancouver, BC V6C 1S4, Canada Tel: 778.510.5757 www.new-enrg.com About New Energy Metals Corp. New Energy Metals Corp. is a Canadian-based resource company listed on the TSX Venture Exchange under the symbol "ENRG". The Company has an option to purchase a 100% interest in the Roslyn Lithium property, covering 5,100 hectares located 20 km southeast of the Georgia Lake Pegmatite Field and 35 km southeast of where Rock Tech Lithium just published a PEA supporting the indicated mineral resource of 10.6 Mt (million tonnes) grading 0.88% Li2O and an inferred mineral resource of 4.2 Mt grading 1.0% Li2O (https://www.rocktechlithium.com/news/georgia-lake-project:-pre- feasibility-study-published). The Company also has an option to purchase a 100% interest in the Troitsa Copper property covering approximately 7,000 hectares located in the Omineca Mining Division of British Columbia. 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. Forward Looking Statements This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities laws (collectively, "forward-looking statements"). Forward-looking statements in this news release relate to, among other things: receipt of approval from the TSX Venture Exchange for the Roslyn Agreement; acquiring an interest in the Troitsa Copper Property and Roslyn Lithium Property; and all other statements that are not historical facts, particularly statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance of the Company. Often, but not always, forward-looking statements can be identified through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook". Forward-looking statements contained in this news release are made based on reasonable estimates and assumptions made by management of the Company at the relevant time in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate and reasonable in the circumstances. Forward-looking statements contained in this news release are made as of the date of this news release and the Company will not update any such forward-looking statements as a result of new information or if management's beliefs, estimates, assumptions or opinions change, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are beyond the Company's control, which could cause actual results, performance, achievements and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include all factors outlined in the Company's publicly filed documents under the Company's profile on SEDAR at www.sedar.com. The Company cautions that the list of risk factors and uncertainties described in its publicly filed documents on SEDAR is not exhaustive and other factors could materially affect its results. New factors emerge from time to time, and it is not possible for the Company to consider all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement. 2