PRESS RELEASE
Battery X Metals Announces Commencement of Exploration Program on Precious Metal and Critical Mineral Property in Red Lake, Ontario
VANCOUVER, British Columbia – April 4, 2024 – Battery X Metals Inc. (CSE:BATX) (OTCQB:BATXF) (FSE:R0W, WKN:A3EMJB) ("Battery X Metals" or the "Company") is pleased to announce it has commenced an exploration program at its Belanger Project in Ontario. The Belanger Project's known gold and copper assets align perfectly with the current market dynamics where both gold and copper are experiencing significant demand — gold as a resilient investment asset and copper as a critical component in the electric vehicle (EV) battery and renewable energy sectors.
Belanger Property Location
The Belanger Project, located in one of Canada’s most prolific gold mining districts, Red Lake, Ontario, is historically known for significant findings of gold, becomes even more pivotal in light of recent developments in the gold market. On April 3, 2024, the price of gold reached a new record high of USD $2,320 per ounce, representing a 25% increase in the last 6 months, capturing the attention of investors worldwide and underscoring the strategic value of Battery X Metals' exploration efforts.
The recent surge in gold prices has sparked a lively debate among investors about the opportune moment to invest in this precious metal. According to a recent report, the allure of gold's steady value increase is undeniable.1 This context highlights the strategic importance of Battery X Metals' exploration work, as the discovery of new gold deposits could offer fresh opportunities in a market hungry for this precious metal.
Furthermore, as the world grapples with the demands of the clean energy transition, the role of critical minerals like copper has never been more pronounced. The International Energy Agency (IEA) underscores this, noting that "demand for critical minerals more than doubles by 2030" in scenarios aiming for net-zero emissions by 2050.1 Battery X Metals' exploration initiatives at the Belanger Project are a direct response to this call for action, aiming to secure vital resources for the future.
The exploration team, set to start fieldwork imminently, will delve into mapping and sampling the property, building on the historical evidence of its mineralization. In addition to targeting historic trenches for channel sampling, the exploration plan includes extensive prospecting, mapping, and sampling efforts.
Corporate Awareness Provider Update
Further to the Company's news release dated February 22, 2024, that it has engaged certain investor relations providers, the Company notes that these services have not yet commenced.
1 CBS News
2 IEA 50
About Battery X Metals Inc.
Battery X Metals Inc. (CSE:BATX) (OTCQB:BATXF) (FSE:R0W, WKN:A3EMJB) is focused on the exploration and acquisition of critical mineral and precious metal property assets in North America, and the development of battery recycling technology to support the growing demand for sustainable and environmentally friendly energy solutions. The Company’s 100% owned Y Lithium Project is situated in Northern Saskatchewan and the Company also holds ownership of the Belanger Project, a precious metal and critical mineral property located in one of Canada’s most prolific gold mining districts, Red Lake, Ontario. Additionally, the Company’s wholly-owned subsidiary, Battery X Recycling Technologies Inc., is dedicated to developing innovative technologies to recover high-value battery metals and facilitating urban mining from end-of-life lithium-ion batteries.
On Behalf of the Board of Directors
Mark Brezer, Director
For further information, please contact:
Mark Brezer
Chief Executive Officer
Email: mbrezer@batteryxmetals.com
Tel: (604) 741-0444
Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release).
Forward-Looking Information
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the closing of the transaction, expected benefits of the transaction, dates related to the signing of the definitive agreement and closing of the transaction, and ability to enter into agreements with Executives and Key Personnel.
In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, the assumption that the Company will be able to enter into and close a definitive agreement related to the transaction, obtain all approvals thereof necessary to close, and receive expected benefits and achieve anticipated integration post-transaction.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
