Global Battery Metals Announces Minsur's Termination of its Option to Acquire the Lara Copper Project, Peru
Vancouver - Global Battery Metals Ltd. (the "Company" or "GBML") (TSXV: GBML; OTCQB: REZZF; Frankfurt: REZ), an international critical mineral exploration company focused on growth-oriented lithium, copper and battery metal projects, announces that it has been notified by Minsur S.A. ("Minsur") of its intention to relinquish its option to acquire the Company's 55%-owned Lara Copper Project in southern Peru. The Laura Copper Project was subject to an Option and Royalty Agreement entered into in July, 2020 with Lara Exploration Ltd. ("LRA"), through their Minas Dixon subsidiary, for the sale of the Lara Copper Project to Minsur.
The Lara Copper Project comprises mineral rights covering a partly defined copper-molybdenum porphyry deposit, located in the Laramate Province of the Ayacucho Department, approximately 40km inland from the town of Palpa on the Panamerican Highway. To date 9,850 metres of diamond and reverse circulation drilling have been completed, outlining a mineralized footprint of 2,000 metres east to west and between 500 metres and 800 metres north to south
Additional details on the Lara Project can also be found on GBML's website at https://gbml.ca/projects/lara-property.
Management of GBML is working its partners to determine next steps for the project.
About Global Battery Metals Ltd.
GBML is an international mineral exploration and development company with a focus on lithium, copper and other metals that comprise and support the rapid evolution to battery power. GBML currently maintains economic interests in two battery metal projects: (1) a 100% interest in the Lithium King Property in Utah; and (2) a 55% stake in Peru-based Lara Copper Property, which has over 10,000 metres of drilling.. GBML's common shares are listed on the Exchange (TSXV: GBML); Frankfurt Stock Exchange (FSE: REZ); and are quoted on the OTC Markets (OTCQB: REZZF).
Global Battery Metals Ltd.
Michael Murphy BA, MBA, MSc., ICD
President & CEO
T: 604-428-6128
E: MM@gbml.ca
W: www.gbml.ca
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.
Cautionary Statement Regarding "Forward-Looking" Information
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operations and activities of the Company, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, among other things, exploration plans for the Company's various projects. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to obtain required shareholder and regulatory approvals. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Readers are urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects. The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
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