Volta Metals completes initial drilling at Springer

Mr. Kerem Usenmez reports VOLTA COMPLETES INITIAL DRILLING AT SPRINGER REE PROJECT IN ONTARIO Volta Metals Ltd. has completed its 1,638-metre, four-borehole diamond drill program at the Springer rare-earth and gallium deposit, located outside of Sturgeon Falls, Ont., Canada (Table 1). The aim of the program was fourfold: to test for extensions of the Springer rare-earth element (REE) deposit at depth and along strike; to provide near-surface confirmatory drilling to enable an update of the historic (2012) Rare Earth Metals Inc. National Instrument 43-101 mineral resource estimate; to confirm the presence of gallium mineralization and to provide fresh sample material for continuing metallurgical testwork. All holes intersected multiple thick zones of syenite (fenitized) -- carbonatite breccias (up to 125 metres downhole thickness) and carbonatite bodies (up to 20 m downhole thickness), and were drilled deeper than originally planned, ending within the mineralized system. Samples have been delivered to Activation Laboratories in North Bay, Ont., for geochemical assay, and results will be released upon receipt. Details Borehole SL25-23 was designed to confirm the presence of anomalous gallium oxide mineralization intersected in historical borehole SL11-03. Borehole SL25-26 tested for potential southward expansion of the REE mineralization outside of the historic resource shell. Finally, two near-vertical boreholes (DDH SL25-24 and 25) tested the carbonatite complex at depth in order to verify the vertical continuity of the mineralization and to test for extensions below the REE mineralization boundary used for the historic NI 43-101 resource estimate (historic NI 43-101 mineral resource estimate for total rare-earth oxides (TREO) of 4.167 million tonnes (Mt) at 1.073 per cent TREO indicated and 12.73 Mt at 1.119 per cent TREO in the inferred resource category at a cut-off grade of 0.9 per cent TREO -- Daigle P., May 4, 2012, Technical Report and Resource Estimate of the Lavergne-Springer REE Project, Ontario, Canada, Tetra Tech Wardrop). The company's technical adviser, Dr. Fred Breaks, commented: "The initial observation of the core suggests the presence of a very large, intact carbonatite system with the present drilling situated within in a potassic fenite breccia zone intruded by high-grade REE-rich dolomitic carbonatite dikes. The breccia zones typically occur above an intact carbonatite pipe (Elliot et al., 2018). Ensuing work will undertake lithological and mineralogical characterization of the REE-mineralized, fenite breccia-carbonatite system." About the Springer rare-earth and gallium project The 2012 resource estimate presented for the Springer rare-earth project is historic in nature. Volta Metals' qualified person has not completed sufficient work to confirm the results of the historical resource. Volta Metals does not treat this as a current mineral resource but considers it relevant as a guide to future exploration and includes it for reference purposes only. The historic resource was estimated by Tetra Tech Inc. in 2012. The block model and mineral resource for the Springer rare-earth project is classified as having both indicated and inferred mineral resources based on the number of drill holes, drill hole spacing and sample data populations used in the estimation of the blocks. The mineral resource estimate for the deposit, at 0.9 TREO per cent cut-off, is an indicated resource of 4.2 Mt at 1.14 per cent TREO, 0.02 per cent ThO2 with approximately 6 per cent of the TREO being made up of heavy rare-earth oxides (HREO); and an inferred resource of 12.7 Mt at 1.17 per cent TREO, 0.01 per cent ThO2 with approximately 4 per cent of the TREO being made up of HREOs. The 2012 mineral resource, based on 22 diamond drill holes, was estimated by ordinary kriging interpolation on uncapped grades for all 15 REOs and thorium dioxide. The TREO per cent is a sum of the 15 individual interpolations of the REOs. No recoveries have been applied to the interpolated estimates. The 2012 resource estimate categories are not compliant with the current CIM (Canadian Institute of Mining) definition standards. No other resource estimates have been undertaken since the 2012 Terta Tech Wardrop report. Further drilling will be required by Volta Minerals to verify the historic estimate as a current mineral resource. QA/QC (quality assurance/quality control) protocol Volta implemented a strict QA/QC protocol in processing all rock samples collected from the diamond core samples obtained from the Springer REE property. The protocol included inserting reference materials, in this case, high-concentration and low-concentration certified OREAS rare-earth elements standards, blanks and drill core duplicates, to validate the accuracy and precision of the assay results. All collected rock core samples were put in cut, placed in sturdy plastic bags and zip tied shut while under the supervision of a professional geologist. Sample bags were then put in rice bags and kept secure before being sent by road transport to Activation Laboratories Ltd. in North Bay, Ont. Qualified person The technical content of this news release has been reviewed and approved by Andrew Tims, PGeo, who is an independent qualified person (QP) as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. The QP and the company have not completed sufficient work to verify the historical information on the Springer deposit and it is considered as historic, particularly regarding historical exploration and government geological work. About Volta Metals Ltd. Volta Metals is a mineral exploration company based in Toronto, Ont., focused on rare earths, gallium, lithium, cesium and tantalum. It owns, has optioned and is currently exploring a critical minerals portfolio of rare earths, gallium, lithium, cesium and tantalum projects in Ontario, one of the world's most prolific and emerging hard-rock critical mineral districts. We seek Safe Harbor.