New Age Metals provides update on basic environmental studies for the River Valley Palladium project


July 13, 2021 – TheNewswire – Rockport, OntarioNew Age Metals Inc. (TSXV: NAM); (OTC: NMTLF); (FSE: P7J.F) (“NAM” or “Company”) is pleased to provide an update on ongoing basic environmental and archaeological studies on its 100% owned River Valley Palladium project, located 100 km east of Sudbury, in Ontario. These studies are being conducted by Story Environmental Inc. (SEI) of Haileybury, Ontario, and will serve as key components of the
Project Pre-Feasibility Study (PFS), as announced in a Company press release dated April 12, 2021.

Harry Barr, President and CEO of New Age Metals, said: “We are pleased with the progress to date on our environmental benchmark work at River Valley. By being proactive at this early stage of the project lifecycle, we will be more confident in our ability to execute future licensing efforts more effectively. We have been fortunate to collaborate with our local First Nations partners throughout these core programs, to ensure that we operate in a responsible and transparent manner throughout this important stage of project development.

Environmental referral program

The goal of the baseline environmental work is to support future permitting requirements for the River Valley Palladium project. Emphasis was placed on programs that will require multi-year seasonal data to support a federal impact assessment. The environmental baseline studies for the pre-feasibility study are expected to be completed in November and the reports are expected to be completed by December 2021, before the PFS is published in H2-2022.

Baseline studies, to support the development and authorization of the project, are underway in the following areas: archeology, surface water quality, hydrology and aquatic and terrestrial environments.

The first round of 2021 surface water quality sampling took place in May on the same network of sampling sites established in 2020. The water sampling program is designed to capture any variation spatial and temporal water quality in the water bodies and watercourses located in the project. area. A second round of sampling is planned for the summer on the same sampling sites under low flow conditions and a final 2021 sampling campaign will be carried out in the fall, under flow recovery conditions.

As part of the hydrology program in 2020, measurements of flows and water levels were obtained at the hydrological station located at the outlet of Pine Lake. In 2021, hydrological measurements were taken in May as part of the surface water quality sampling program. Additional flow and water level measurements will be taken this summer and fall, under various flow conditions, to aid in the development of a rating curve for this station.

A bathymetric survey and riparian habitat mapping of Pine Lake were completed as part of the Aquatic Activities Baseline Program. Additional community and fish habitat studies will be conducted this fall in Pine Lake, Platadium Pond and other selected water bodies in the project area. Data from this work will support ongoing engineering studies and project planning as well as future licensing activities.

For the terrestrial habitat component of the program, a desktop baseline study was conducted in May to inform the design of the 2021 baseline field study program. completed in 2021, incorporated surveys for species at risk in Ontario, including: Eastern Whip-poor-will, completed in May, and bats (i.e. May field studies also included vegetation surveys and in June, field studies included additional surveys of vegetation and breeding birds.

Other studies and archaeological assessment

In addition to the baseline studies described above, SEI was also selected by NAM to:
1) support the hydrogeological reference program by carrying out slug tests; 2) launch a groundwater quality monitoring program; and 3) conduct desktop atmospheric studies focused on defining the existing climatic and air quality conditions in the project area. The first phases of these additional studies will be completed in the summer and fall of 2021.

Finally, a Stage 2 archaeological assessment was completed by Horizon Archeology Inc. (under contract with SEI) in the Platadium Pond area and along the south shore of Pine Lake in May, following the 2020 Stage 1 Archaeological Assessment. Stages 1 and 2 Archaeological assessments will be reviewed by our First Nations partners and submitted to the appropriate department for review.

About River Valley

The River Valley Palladium project is located 100 km by road east of the city of Sudbury. The project area is linked to Sudbury by a network of all-season highways, roads and railways and is accessible year-round through the nearby hydroelectric and natural gas network. River Valley enjoys strong support from local communities, such as the village of River Valley, 20 km to the south.
A fully executed MOU is in place with a local First Nation. Basic environmental studies and engineering studies, to support the development of the project, pre-feasibility studies and obtaining permits are currently underway.

The current mineral resource estimate was announced in a company press release dated January 15, 2019 and is based on metal prices significantly lower than today. At a cut-off grade of 0.35 g / t PdEq, the mineral resource consists of: 99 Mt grading 0.52 g / t Pd, 0.20 g / t Pt, 0.03 g / t Au and 0, 06% Cu, or 0.90 g / t PdEq in the measured and indicated classifications; and 52 Mt grading 0.31 g / t Pd, 0.15 g / t Pt, 0.04 g / t Au and 0.04% Cu, or 0.63 g / t PdEq in the inferred classification. The contents of the metals contained are 2.4 Moz Pd + Pt + Au or 2.9 Moz PdEq in the measured and indicated classifications and 0.8 Moz Pd + Pt + Au or 1.1 Moz PdEq in the presumed classification.

The results of the 2019 PEA for the River Valley Palladium project were announced in a press release dated June 27, 2019. The PEA describes a 20,000 t / day surface mining and processing plant producing an average of 119,000 t / day. ounces of PdEq per year on a mine. 14 year life. Using base metal prices of $ 1,200 / oz Pd, $ 1,050 / oz Pt and $ 3.25 / lb Cu, the PEA showed a pre-tax NPV5% of US $ 261 million and a pre-tax IRR of 13%. At a palladium price of + 20% of $ 1,440 / oz Pd, the NPV before taxes5% increases to $ 501 million and the pre-tax IRR to 19%. The current price of Pd is around $ 2,700 / oz Pd.

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 Elements division.

The PGM division includes the 100% owned, multi-million ounce district-wide River Valley project, one of the largest undeveloped Platinum Group metals projects in North America, located at 100 km from Sudbury, Ontario. The Company recently completed a preliminary economic assessment of the project and, a pre-feasibility study is expected to be completed by the end of the first half of 2022. In Alaska, the Company owns 100% of the Genesis PGM-Cu-Ni project.

The Lithium Division is one of the largest holders of mining claims in the Winnipeg River pegmatite field, where the company explores for hard rock lithium and various rare elements such as tantalum and rubidium. Plans for 2021 include drone geophysics on at least five of the company’s seven projects and an initial drilling program on the company’s Lithium Two project.

Our philosophy is to be a generator of projects with the objective of opting for our projects with major and junior mining companies up to production. The Company is actively seeking an option / joint venture partner for its Genesis PGM-Cu-Ni project accessible by road in Alaska and for all or part of our Lithium division in Manitoba.

Investors are encouraged to visit the New Age Metals website at www.newagemetals.com where they can review the company and its business activities. Any questions or comments can be addressed to This e-mail address is protected from spam. You need JavaScript enabled to view it. or Harry Barr at This e-mail address is protected from spam. You need JavaScript enabled to view it. or Cody Hunt at This e-mail address is protected from spam. You need JavaScript enabled to view it. or call 613 659 2773.

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Qualified people

The content herein that relates to exploration results and mineral resources for the River Valley Project is based on information compiled, reviewed or prepared by Dr. Bill Stone, Geologist, Consultant Geoscientist for New Age Metals. Dr. Stone is the Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical content of this press release.

On behalf of the board of directors

Harry Barr “

Harry g barr

President and CEO

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. Caution Regarding Forward-Looking Statements: This press release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. To this end, statements of historical fact may be regarded as forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “believe”, “anticipate”, “trust”, “have the intention “,” strategy “,” “plan”, “will”, “estimate”, “project”, “objective”, “target”, “outlook”, “optimistic” or similar expressions. These statements, by their nature, involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company’s ability and continued efforts to make timely and completely available adequate public information, complementary to or different regulatory and legal requirements and restrictions that may be imposed, and other factors that may be discussed in the documents filed by the Company on SEDAR (www.sedar.com ), including the most recent reports which identify material risk factors that could cause actual results to differ from those contained in forward-looking statements. The Company assumes no obligation to review or confirm analysts’ expectations or estimates or to publicly issue revisions to forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of events. unforeseen. Investors should not place undue reliance on forward-looking statements.


Margie D. Carlisle