Global Energy partner begins drilling at Millennium

Mr. Mitchell Smith reports GLOBAL ENERGY METALS' PARTNER METAL BANK LTD. COMMENCES FULLY FUNDED DRILLING PROGRAM AT THE MILLENNIUM COPPER COBALT GRAPHITE GOLD PROJECT, AUSTRALIA Global Energy Metals Corp. partner further Ltd. (listed on the Australian Securities Exchange), as project operator, has commenced diamond drilling at the Millennium copper-cobalt-gold-graphite project as part of a $250,000 (Australian) Queensland-government-funded Collaborative Exploration Initiative (CEI) program. Global Energy is fully carried on exploration spend as part of Metal Bank's earn-in for 80 per cent of the Millennium project. Highlights: Diamond drilling program commenced targeting high-grade graphite extensions and metallurgical samples: Drilling and associated metallurgical work is partly funded by the Queensland government CEI $250,000 (Australian) grant; An additional mining lease application has been lodged adjacent to the current granted five mining leases: This new lease covers a gap zone of cobalt-copper-gold mineralization and peripheral graphite targets; Granting of the gap zone has the potential to positively impact the project economics and the prospect of moving the project to production; Global Energy is fully carried on exploration spend as part of Metal Bank's earn-in for 80 per cent of Millennium. This drilling targets high-grade, near-surface extensions to previously announced graphite results plus bulk metallurgical samples within and adjacent the JORC (Joint Ore Reserves Committee) 2012 mineral resource estimate (MRE) of 8.4 million tonnes at 0.09 per cent cobalt, 0.29 per cent copper and 0.12 gram per tonne gold for 1.23 per cent CuEq. Metal Bank has also submitted an application for an additional mining lease (ML) at Millennium to facilitate further exploration and operations for both cobalt/copper/gold and graphite resources. This application area consists of approximately 159 hectares, which encompass the southern granted leases and importantly includes the gap zone, a previously inaccessible 200-metre-by-200m area not included in the current MRE. Previous RC drilling of this gap zone in 2013 and 2014 demonstrated strong mineralization continuity on the Millennium trend, including downhole results of 23 metres at 0.48 per cent copper, 0.16 per cent cobalt and 0.16 gram per tonne gold from 16 metres (Q-001) and 13 metres at 0.53 per cent copper, 0.30 per cent cobalt and 0.24 gram per tonne gold from 40 metres (Q-014). The additional lease also encompasses an area farther to the west to cover potential extensions of graphite mineralization and to the east for operational infrastructure. Mitchell Smith, president, chief executive officer and a director of Global Energy Metals, commented, "This government- and partner-funded drill program operated by joint venture partner Metal Banks moves our Millennium project forward at no cost to Global Energy Metals and exemplifies our strategy of unlocking value from non-core yet significant assets for our shareholders and builds on our momentum to build investment exposure to those minerals critical to a new energy era." Metal Bank's chair, Ines Scotland, commented: "MBK has commenced the next phase of project development for Millennium aimed at further defining the graphite mineralization which sits on top of and adjacent to the copper-cobalt-gold resource. This graphite potential, along with the mine pit extension into the gap zone, will significantly increase the project's economics. "Millennium is an important critical minerals project in a readily accessible mining area near Cloncurry, Queensland, located due south of Harmony's recently approved $2.6-billion (Australian) Eva copper-gold development project and the proximal to Austral's Rocklands copper project, which is currently planned for restarting operations in mid-2027." The company looks forward to the results from the drilling program, expected in late January, and will keep shareholders informed as to the progress of the mining lease application in due course. Northwestern Queensland district graphite development Millennium is strategically located between other Northwestern Queensland graphite development projects which are currently undergoing consolidation. The Corella deposit is located 14 kilometres to the south (13.5 million tonnes at 9.5 per cent total graphitic carbon) and the Burke deposit is 107 kilometres due north (9.1 million tonnes at 14.4 per cent total graphitic carbon) of Millenium, both held by Lithium Energy; and the Mount Dromedary deposit (7.0 million tonnes at 14.5 per cent total graphitic carbon) held by Novonix is immediately adjacent to the Burke deposit. Millennium displays matching geology to the Corella deposit, with metamorphosed graphitic shales, slates and schists of the Milo beds within the Tommy Creek domain hosting both deposits. Both deposits are also proximal to mafic units and structural corridors, which are considered key factors for the development of high-quality, high-grade graphite mineralization. Metallurgical and electrochemical test work to date on these nearby deposits has returned high-grade concentrate with high graphite recoveries coincident with electrochemical test work indicative of material highly suitable for downstream graphite processing and integration into modern battery manufacturing and other technologies. Millennium -- next steps Graphite demand continues to grow in line with expansion in the electric vehicle (EV) lithium-ion battery sector, where graphite is the key raw material consumed in EV (electric vehicle) battery anodes (approximately 20 to 30 times the lithium content in a lithium battery). Despite some recent price pressure, the long-term outlook for natural, ex-China graphite remains strong. As the industry targets diversified supply, the focus shifts to more ESG-friendly (environmental, social and governance), secure sources of graphite production and processing. In line with this, Metal Bank, in full support by Global Energy Metals, is assessing the potential for further value to be unlocked from the Millennium project through developing the graphite potential over the coming months. This includes additional surface mapping and sampling, metallurgical testing to determine recovery, graphite flake size, sphericity and purity, including this current drill program to refine near-term scope for an exploration target and/or mineral resource. 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. Global Energy Metals recognizes that the proliferation and growth of the electrified economy in the coming decades are underpinned by the availability of battery metals, including cobalt, nickel, copper, lithium and other raw materials. To be part of the solution and respond to this electrification movement, Global Energy Metals has taken a consolidate, partner and invest approach and, in doing so, has assembled and is advancing a portfolio of strategically significant investments in battery metal resources. As demonstrated with the company's current copper, nickel and cobalt projects in Canada, Australia, Norway and the United States, Global Energy Metals is investing in, exploring and developing prospective, scalable assets in established mining and processing jurisdictions in close proximity to end-use markets. Global Energy Metals is targeting projects with low logistics and processing risks so that they can be fast-tracked to enter the supply chain in this cycle. The company is also collaborating with industry peers to strengthen its exposure to these critical commodities and the associated technologies required for a cleaner future. Securing exposure to these critical minerals powering the e-mobility revolution is a generational investment opportunity. Global Energy Metals believes now is the time to be part of this electrification movement. We seek Safe Harbor.