15 November 2023

Technology Minerals Plc 

("Technology Minerals" or the "Company") 

Initial Knockeen Dike Swarm Assay Results Received from Leinster Lithium Project, Ireland

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 completed the inaugural first phase of drilling on its Knockeen Lithium Pegmatite Project in SE County Carlow, Ireland.

Focussing on a Lithium-Caesium-Tantalum (LCT) pegmatite dike swarm, the first nine holes were completed in late October for a total of 2,022m. All nine holes successfully intersected lithium bearing Lithium LCT Pegmatites. Samples were submitted to ALS Laboratories in County Galway and analysed using the specific ME-MS89L Lithium Pegmatite analytical suite which are now reported. The project is progressing under an ongoing and successful option agreement between GBML and Technology Minerals which is being operated by GBML.

Key Highlights:

• Drilling has confirmed and further defined a swarm of pegmatite dikes within host granites to reveal a new, structurally controlled LCT pegmatite system of significance;

• 24 intervals of lithium bearing spodumene pegmatites were intersected across the nine holes drilled and show that the pegmatites are all broadly parallel with a strike of NE-SW;

• The spodumene pegmatites range in width between 0.10m up to 0.63m (true width) with the highest values grading up to 2.57% Li₂O in Intercept 15 in Hole 23-1597-06;

• Values grading over 1% Li₂O were recorded in five of the nine holes drilled (Hole 23-1597-01, Hole 23-1597-02, Hole 23-1597-06, Hole 23-1597-07 and Hole 23-1597-09) with a sixth hole (Hole 23-1597-03) just shy of the 1% mark reporting a 0.96% Li₂O intersect; and

• The project area is situated within the same tectonic zone and along strike to Blackstairs Lithium (Ganfeng / ILC joint venture) Avalonia Project.

Alex Stanbury, CEO of Technology Minerals said: "We are pleased to announce the successful confirmation of lithium mineralisation at Knockeen following the inaugural phase of exploration drilling. This milestone underscores our commitment, from the initial stages of surface mapping and sampling, towards realising the full potential of Leinster. Moving forward, we eagerly anticipate advancing the project in collaboration with our partners GBML."

Michael Murphy, CEO of Global Battery Metals, underscored the importance of these initial assays, stating: "Until now, Knockeen has been defined by surface mapping and sampling, along with its strategic location within the East Carlow Deformation Zone and close proximity to Ganfeng and ILC's exploration activity. Our expressed goal to confirm lithium mineralization in our first round of exploration drilling has been achieved, and hitting consistent, near-surface lithium intersects in a brand-new area has the entire team very excited. We've done our homework, including years of geological data collection and hands-on exploration to assess Leinster's lithium potential, and we're taking additional cues and clues from our first round drilling to further evolve our exploration strategy. In this case, we plan to make calculated, district scale moves. We've drilled into fingertips and intend to follow these fingers to a wider body."

Assay Results Interpretations and Next Steps

The drilling program defined a swarm of pegmatite dikes across the Knockeen zone with all holes (23- 1597-01 to 09) intersecting lithium bearing spodumene pegmatites, seven of which reported multiple intersections. The drill holes were focused in three areas north-east (holes 1-4), central (holes 5-6) and south-west (holes 7-9). The drilled extension of the pegmatite dyke swarm is 500m on strike and extends about 200m vertically. The target area is still open in all directions and also at depth and these aspects will be the focus for the next stage of exploration activities.

Initial interpretation of the pegmatite dike intercepts show that the pegmatites are all broadly parallel with a strike of NE-SW with some minor degrees of inflection across the drilled strike length. The pegmatites are all dipping to the north west with slightly variable dips of between 35-50 degrees. The spodumene pegmatites range in width between 0.10m up to 0.63m (true width) with the best individual sample interval grading up to 2.57% Li₂O in Pegmatite 15 (Sample AES65298) in Hole 23-1597-06.

Figure 1: Knockeen Drilling 2023 drill collar locations

This first phase of Knockeen drilling has been key in setting the scene to establish the geometry and nature of the pegmatites in an entirely new area where there is no surface outcrop, no historical drilling and a single short historical trench. The placing of the target area within the bounds of the interpreted East Carlow Deformation Zone is a key factor in developing the prospect further. Detailed structural and petrological studies will now commence at both the regional and drill core scale to interpret the structural regime of emplacement of the spodumene pegmatites and to determine the geometric model to guide the next phase of drilling. This work has already commenced with the creation of a 3D exploration model in Leapfrog utilising the several thousands of structural readings collected from the orientated drill core.

Technology Minerals and GBML also intend to invite additional industry experts in the field of LCT pegmatites and structural geology interpretation to view the drill core at its core shed to help place all of the information collected to date in a detailed structural and lithological framework of the SE Leinster Massif. This will help develop strategies for further exploration work on both this license as well as the rest of the Technology Minerals and GBML's license holdings.

Sampling and Chain of Custody

All holes were drilled by diamond coring at HQ drill core size (63.5mm diameter). The drill core retrieved from the core barrel was continuously measured for exact orientation by the driller using a Reflex EZ-Trac Single Shot down-hole core orientation tool on the drill rig. Once back at the core shed detailed structural measurements could then be measured in the drill core 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.

Logging and sampling of the holes took place at the GBML's core shed and all samples were run through a tightly controlled chain of custody and rigid QA/QC sampling process which included regular insertion of certified reference materials including standards, blanks and sample duplicates. All samples were submitted to ALS Laboratories in County Galway and analysed using the specific ME-MS89L Lithium Pegmatite analytical suite offered by the laboratory.

Table 1: Table of results for pegmatite intervals intersected in the drilling

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 nearby Blackstairs Lithium's Avalonia Project (297 km² joint venture between Ganfeng Lithium Co. Ltd. and International Lithium Corp.). All of GBML's license holdings are located within or along the important East Carlow Deformation Zone, which is interpreted to control the emplacement of an existing LCT pegmatite field at the Blackstairs Mountains.

With first phase drilling concluded at Knockeen, Technology Minerals and GBML have succeeded in identifying a new and structurally controlled LCT pegmatite system of significance, importantly recording 24 intervals of lithium bearing spodumene pegmatites intersected across nine holes drilled. The spodumene pegmatites range in width between 0.10m up to 0.63m (true width) with the highest values grading up to 2.57% Li₂O. No drilling has ever been carried out at the Knockeen Prospect previously and intersecting lithium bearing pegmatites in all of the holes drilled so far is considered a major technical success for Technology Minerals and GBML. Prior surface exploration activities by the project team 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 lithium.

Image 1: Spodumene pegmatite in drill core DDH 23-1597-01

(PEG-01[part of]; 34.59-34.94. Sample AES65107 reporting intercept

apparent thickness of 0.36m \ True thickness 0.05m @ 2.95% Li2O)

Image 2: Spodumene pegmatite in drill core DDH 23-1597-02

(PEG-04; 31.46-31.85. Sample AES65136 reporting 0.39m @ 1.59% Li2O)

Image 3: Spodumene pegmatite in drill core DDH 23-1597-09

(PEG-22; 65.73-66.14m. Sample AES62536 reporting 0.36m @ 1.18% Li2O)

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 license holders must comply with all of the relevant legislation. Technology Minerals and GBML is pleased to confirm that they adhere 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. TM1'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.

Image 4: Drill site 23-21597-07

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 Technology Minerals and, 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 and Technology Minerals 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 meters 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 and Technology Minerals are 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.