17 October 2023

Technology Minerals Plc 

("Technology Minerals" or the "Company") 

Completion of Detailed Remote Sensing and Structural Study of Knockeen Dike Swarm and Leinster Lithium Project Area

Study Identifies 2nd Major Shear Zone and 25 Additional Exploration Targets as Company Confirms Set of Eight Initial Drill Hole Assays to be Reported

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce that Global Battery Metals Ltd ("GBML"), (TSXV: GBML; OTCQB: REZZF; Frankfurt: REZ) has provided an update regarding the completion of a structural remote sensing study of the Leinster Lithium District, with 25 new exploration targets identified by local structural geology expert, Dr. Francis Murphy of Murphy Geological Services ("MGS").

A first-of-its-kind study for this region, Technology Minerals and GBML believe this study - in association with the ongoing development of a 3D model for the geometry of the dike swarm and associated structures being drilled at Knockeen PLA 1597 (PLA 1597) will help guide additional near-term vein identification and drilling efforts, while supporting further project-wide lithium exploration and target generation.

PLA 1597 is progressing under an ongoing and successful option agreement between GBML and Technology Minerals which is being operated by GBML.

Key Highlights:

·    Drilling continuing as per plan at the Lithium-Cesium-Tantalum (LCT) pegmatite dike swarm at Knockeen Prospect with drill holes 1-8 completed for a total of 1,597m with assays pending and drill hole 9 currently in progress.

·    Comprehensive regional structural synthesis has now been completed for the whole of the Leinster pegmatite belt with detailed focus on the northern and southern block of licences.

·    Structural controls and the spatial location of the key East Carlow Deformation Zone (ECDZ) and associated splay structures have now been identified and shown to cross several key parts of the northern and southern block of licences.

·    Accurate definition of key structural corridors through the five main target areas at Aghavannagh, Scurlocks, Sorrell, Knocknaboley and Tonygarrow now confirms the genetic association of these structures with the mineralisation discovered to date, as well as extends the corridors for further exploration targeting.

·    A major NE-SW trending regional splay of the ECDZ, termed the North Wexford Deformation Zone (NWDZ) which has been historically mapped in the area, has now been confirmed and demarcated across areas of PLA 1597.

·    In total, 25 distinct follow-up structural targets have been identified, including four additional targets on PLA 1597 and 21 new targets on the northern licence block all based on the holistic geological, structural, geophysical and geochemical studies. These areas will be prioritised over the coming months.

Remote Sensing Structural Study

GBML defined a 6,000 km² study area covering the northern and southern license blocks, including the Knockeen Prospect lithium drill programme area. Structural analysis work included utilising Sentinel-2 satellite imagery which provides a substantial resolution increase that more than doubles that of other satellites. This work was combined with other GIS datasets including the Geological Survey of Ireland (GSI) Tellus Aeromagnetic data; detailed GSI bedrock mapping data, historical regional GSI geochemistry as well as in-house company GBML-LRH prospecting and lithogeochemistry data.

The results of the combined study have confirmed key structural features across the Leinster Massif which are interpreted to be associated with mineralising fluid flow key to the anatectic model for the localisation and emplacement of the lithium bearing pegmatites. The primary East Carlow Deformation Zone (ECDZ) is shown to transect several of the northern block licenses and in particular the Tonygarrow and Aghavannagh targets. Interpreted splays from this structure pass across several other licenses and in particular through the Scurlocks, Sorrell and Knocknaboley target areas. The work has also provided extensions of all of these structural corridors which can now become part of a focused ground exploration programme.

On the southern block a historic, partially mapped structural feature passing along PLA 1597 has now been confirmed through this study. It can now be interpreted as a significant structural splay off the primary East Carlow Deformation Zone and passes south of the Blackstairs Granite Pluton. This feature has been termed the North Wexford Deformation Zone (NWDZ) and provides a second highly prospective trend for the focus for ground exploration activities. Several target areas have already been identified for detailed prospecting and mapping.

Knockeen Drilling Programme

To date, eight drill holes have been completed (DDH-23-1597-01 - DDH-23-1597-08) for a total of 1,761m, with a ninth drill hole (DDH 23-1597-09) currently in progress (estimated final depth of 250m). Multiple phases of pegmatite and importantly the lithium bearing spodumene pegmatites have been intersected in all of the holes so far. Logging and sampling of the holes is in progress with some of the sampled intervals currently at the laboratory with others still being processed. All of the data and results of the initial eight drill holes will be synthesised and reported together, allowing for a full, proper and considered interpretation of the intersections and providing for a more holistic view of the dike swarm's geometry.

Detailed structural data is being collected from the drill core by using state of the art Reflex EZ-Trac Single Shot down-hole core orientation tool on the drill rig.  Once back at the core logging facilities, the orientated core from the drill rig is then logged for its structural components with an IMDEX STRUCTURAL-IQ™ Solution tool as part of the core logging process. This approach means that the pegmatites and their exact orientations can be positioned with all of the other structural components relating to the emplacement of the pegmatite dike swarm. So far, over 5,000 structural elements have been recorded to be imported into Seequents's 3D modelling software package, LeapFrog. This will help to better visualise the detailed structural regime and kinematics of the pegmatite dikes in the area being drilled, as well as the geometry of the various phases of pegmatites. Petrographic analysis of samples of lithologies, mineralisation and alteration from within the drill core is also in progress to help interpret the metallogenetic development of the mineralizing system.

Alex Stanbury, CEO of Technology Minerals said: "We are pleased to report promising outcomes from our collaborative Leinster exploration project with GBML. The insights acquired through this study will help to advance the project and increase our understanding of the full lithium potential at the site, while also shedding light on additional exploration opportunities within the region."

"GBML will continue to utilize impact players and proven industry experts that can maximize shareholder interests and dramatically increase the potential for mineralized zone discovery," said Michael Murphy, CEO of Global Battery Metals. "The structural analysis included in this report will help us to not only understand and advance our big-picture lithium district potential, but also highlight more immediate opportunity spots of interest. Top-notch structural interpretation is key to unlocking long-term target development and drilling success. I'm also pleased to report that the team is opting to release initial assay results from our first eight holes to date, pending completion of lab analysis. We now have a much stronger picture of the dike swarm and lithium mineralization potential."

Field work will be planned to develop and enhance the structural models including ground verification of the geometry and kinematics of the major and second order faults and shears identified from the satellite imaging. This will tie in with the structural work being completed on the drill core at Knockeen.

About the Leinster Lithium Project

Located south of Dublin in the counties of Wicklow and South Carlow, the Leinster Lithium Project consists of 16 prospecting license areas covering approximately 525 km² situated along strike to the joint Ganfeng Lithium / International Lithium Corporation Blackstairs Lithium Project. The ongoing drill programme at Knockeen has been approved under the government's detailed "appropriate assessment screening" process for up to 10 drill holes for a total of approximately 2,000m.

With initial drilling underway, Technology Minerals and GBML has succeeded in intersecting multiple dikes within the host granites to reveal a structurally controlled LCT pegmatite system, which importantly includes the lithium mineral spodumene within the pegmatites. The drill cores continue to be logged, sampled and dispatched for analysis at ALS Laboratories and pending results reporting. No drilling has ever been carried out at the Knockeen Prospect previously, and intersecting potential lithium bearing pegmatites in all of the holes drilled so far is considered a major technical success for the Company. Prior surface exploration activities identified and confirmed expansive surface boulder trains of lithium pegmatite lithologies in a number of areas across the property, with recent assay results of 66 rock samples analysed by ALS Laboratories earlier this year returning Li2O% lithium contents ranging up to 3.75 % Li2O / 17,410 ppm Li.

Responsibility to the Environment

All mineral exploration activities in Ireland take place under the auspices of the GSRO, a division within the Government Department of the Environment, Communications & Climate Change. Exploration is governed under the framework of both Irish and EU legislation that has been implemented to ensure that the environment is protected during exploratory work. Prospecting licence holders must comply with all of the relevant legislation. GMBL adheres to the highest standards of good practice in relation to its ongoing exploration activities having completed a detailed GSRO "Appropriate Assessment" process prior to commencement which was reviewed, approved and signed off by the appropriate oversight authorities. GBML's Directors understand that social license is key to unlocking positive exploration outcomes by following low impact / low sound / low disturbance exploration program best practice for environmental sensitivity.

Competent Person

All scientific and technical information in this announcement has been prepared under the supervision of and reviewed and approved by EurGeol Vaughan Williams, M.Sc., P.Geo., (Principal of Aurum Exploration Services currently providing exploration services to GBML and to LRH Resources Limited ("LRH")), a "qualified person" within the meaning of National Instrument 43-101.

Quality Assurance/Quality Control

Quality Assurance/Quality Control of drill core samples and associated assay results are monitored by GBML through a quality assurance/quality control ("QA/QC") protocol which includes the insertion of blind standard reference materials, blanks, and duplicates at regular intervals. Core is drilled in HQ core diameter and each 3 metres of core recovered is orientated by the drilling contractor on completion of each run drilled. Drill core is laid out in strong core boxes and transported by Company geologists from the drill rig to GBML's secure logging facility. Drill core is then logged using an established logging procedure capturing detailed lithological data as well as measuring all structural elements using a Reflex IQ Logger for accurate orientation of all contacts and structures. The core is marked up for sampling and sawn on site using a diamond core saw. Half core samples are then bagged and secured using plastic cable ties and the samples are then securely transported to ALS Laboratory ("ALS") facilities in County Galway, Republic of Ireland. Samples are analysed for lithium as well as multi- elemental trace elements using the specific LCT pegmatite analytical suite ME-MS89L offered by ALS.  ALS also performs its own internal QA/QC procedures to assure the accuracy and integrity of results.  GBML is unaware of any drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data referred to herein.

Enquiries

Technology Minerals Plc 

Technology Minerals is developing the UK's first listed, sustainable circular economy for battery metals, using cutting-edge technology to recycle, recover, and re-use battery technologies for a renewable energy future. Technology Minerals is focused on extracting raw materials required for Li-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers. With the increasing global demand for battery metals to supply electrification, the group will explore and recycle metals from spent batteries. Further information on Technology Minerals is available at www.technologyminerals.co.uk  

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 to 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, the Company's exploration plans at the Leinster Lithium Project, including the drill program and results therefrom. 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 complete exploration work, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions, and the receipt of any required 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 for a more complete discussion of such risk factors and their potential effects, publicly available at SEDAR+, the Canadian Securities Administrators' national system that all market participants use for filings and disclosure, at  www.sedarplus.ca. 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.