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BeMetals Identifies Compelling Copper Exploration Targets from Shallow Aircore Drilling Results at Pangeni Project in Zambia

October 6, 2021

Vancouver, British Columbia – BeMetals Corp. (TSXV: BMET, OTCQB: BMTLF, Frankfurt: 1OI.F) (the “Company” or “BeMetals”) is pleased to announce the results from a phase of some 4,350 metres of shallow aircore drilling recently completed at the Pangeni Copper Project (“Project” or the “Property”) in Zambia. This aircore program was designed to explore for extensions of copper mineralization discovered by the Company under thin Kalahari sand cover at several prospects, including the D Prospect, and to test several newly generated copper targets. The Pangeni Project is located in an area representing westerly extensions to the prolific Zambian Copperbelt.

HIGHLIGHTS OF THE 2021 PANGENI PROJECT AIRCORE PROGRAM

  • D-Prospect returns highest tenor aircore copper target in hole D7-04 on the Property to date of 3,183 parts per million (ppm) over 2 metres with 1 metre at 4,363ppm
  • Potential D-Prospect extension zone identified in aircore hole D3-15 of 1,217ppm copper over 3 metres with 1 metre at 1,344ppm some 1.4 kilometres southeast of previously drilled mineralization
  • Newly identified F – Target
  • Newly identified Q – Target some 3km southeast of the SW-Prospect

John Wilton, President and CEO of BeMetals stated, “We are encouraged with the results from the 2021 phase of shallow aircore drilling below the thin sand cover that has delivered a number of robust bedrock copper targets. These targets are potential extensions and/or potential vectors to higher-grade zones of copper mineralization we discovered in previous phases of drilling. In addition, a number of new standalone targets well situated geologically within the Property have been identified. To follow-up on these recent aircore results, we have commenced a program of approximately 1,400 metres of core drilling to test these compelling copper targets. We look forward to the results of the core drilling program that has the potential to both expand the footprint of the D-Prospect mineralization and test the exciting newly identified copper targets.

This exploration program continues to be jointly funded by BeMetals and Japan, Oil, Gas and Metals National Corporation (“JOGMEC”) that has allowed for acceleration of our exploration program. The Pangeni Project, together with our recently acquired Kazan Gold Project in Japan and ongoing exploration at the high-grade zinc-silver-gold-copper, South Mountain Project in Idaho, U.S.A., provides an excellent and building portfolio of projects with exciting growth potential for the Company.

2021 PANGENI PROJECT EXPLORATION AND AIRCORE PROGRAM

Early in June the Company commissioned New Resolution Geophysics (NRG™) to fly an Xcite™ helicopter-borne electromagnetic survey over the Property and the interpretation of this data was used to define targets through improved stratigraphic and structural mapping for subsequent aircore testing. The Company has successfully completed a program of 4,353 metres of shallow aircore drilling and returned a number of significant bedrock copper geochemical targets beneath the Kalahari sand cover. These new bedrock copper targets represent both potential extensions to prospects where the Company discovered copper mineralization in previous phases of exploration and newly identified standalone targets in interpreted favourable geological settings for the development of sediment hosted copper deposits.

Figure 1 illustrates the location of the D7-C1, D3-C2, F4-C1, and Q3-C1 targets within the Project area. It also indicates the range of maximum copper values for each aircore hole from the recently completed 2021 program in blue circles with results from the previous phases of aircore drilling in the red circles.

Figure 1: 2021 Aircore Drilling Results (Blue Circles) and Previous Aircore Results (Red Circles)

Figure 1: 2021 Aircore Drilling Results (Blue Circles) and Previous Aircore Results (Red Circles)

D-PROSPECT

Figure 2 shows details of the 2021 aircore results plotted on a simplified cover regolith map of the D-Prospect area. The circles and labels indicate the range of maximum bedrock copper results for each shallow aircore hole in relation to the Company’s previous core drilled copper intersections at this prospect (aircore holes: D2-C1, D2-C2 and D3-C1). The highly anomalous D7-04 aircore target is indicated as 3,183ppm copper over 2 metres with the supporting adjacent D7-4A aircore hole returning 1,802ppm copper over 2 metres. The wide spacing of the D2, D7 and D3 aircore lines should be noted at some 400 metres along the interpreted strike of the units indicating the significant footprint of the mineralization.

Also indicated is the D-Prospect’s southeastern extension target some 1.4km from previous intersected mineralization as defined by aircore target D3-15 of 1,217ppm copper over 3 metres and supported by the adjacent D3-15B hole with 434ppm copper over 2 metres. Over much of these two D-Prospect targets the cover of the Kalahari sand is less than approximately 25 metres in thickness (See Tables 1 and 2 for details of these aircore holes).

Figure 2: D-Prospect Regolith Cover Map, 2021 Aircore Drilling Results as ppm Copper (Blue Circles with hole number, ppm Cu), Previous Aircore Results (Red Circles with ppm Cu) and Previous Drilled Core Hole Copper Intersections.

Figure 2: D-Prospect Regolith Cover Map, 2021 Aircore Drilling Results as ppm Copper (Blue Circles with hole number, ppm Cu), Previous Aircore Results (Red Circles with ppm Cu) and Previous Drilled Core Hole Copper Intersections.

NEWLY IDENTIFIED AND DEFINED COPPER TARGETS

The 2021 aircore program has also identified and defined several new standalone copper targets for core drill testing. The F-Target represents a geological well-positioned bedrock copper geochemical anomaly with potentially several kilometres in strike. This anomaly is best indicated at the F4-C1 target where aircore holes F4-2A, F4-02 and F4-2B returned bedrock samples of 717 over 3 metres with 1,113 over 1 metre, 782 over 4 metres with 1,052 over 1 metre and 893 ppm copper over 1 metre respectively as adjacent holes over some 200 metres of lateral extent. The Q3-C1 Target, situated some 4km to the southeast of the SW-Prospect, has been defined by aircore holes Q3-09 and Q3-12 with 884 over 1 metre and 502ppm over 1 metre copper respectively. The centre of this target is mapped by aircore holes Q3-02 and Q3-03 with 1,260 over 3 metres with 2,146 over 1 metre and 982 over 5 metres with 1,545ppm over 1 metre copper respectively that were completed in the 2020 exploration program.

Table 1: 2021 Aircore Program Selected Hole Results

Aircore Hole ID From (m) To (m) Sample Interval (m) Copper (ppm) Kalahari Sand Thickness
D7-04 27 28 1 4,363 -
D7-04 28 29 1 2,004 26
D7-4A 25 26 1 1,672 -
D7-4A 26 27 1 1,932 24
D3-15 36 37 1 1,266 -
D3-15 37 38 1 1,344 -
D3-15 38 39 1 1,041 34
D3-15B 27 28 1 447 -
D3-15B 28 29 1 422 25
F4-2A 27 28 1 508 -
F4-2A 28 29 1 531 -
F4-2A 29 30 1 1,113 26
F4-02 20 21 1 586 -
F4-02 21 22 1 580 -
F4-02 22 23 1 913 -
F4-02 23 24 1 1,051 20
F4-2B 26 27 1 893 23
Q3-09 70 71 1 884 69
Q3-12 62 63 1 502 60
Q3-02* 59 60 1 2,146 -
Q3-02 60 61 1 558 -
Q3-02 61 62 1 1,077 56
Q3-03* 56 57 1 753 -
Q3-03 57 58 1 824 -
Q3-03 58 59 1 977 -
Q3-03 59 60 1 1,545 -
Q3-03 60 61 1 814 56
*Results from 2020 Aircore Program Previously Reported  

Note: Sample widths are drilled lengths as true widths are unknown at this time. The aircore drilling is intended to sample the bedrock and saprolite material at the base of the Kalahari sand cover only and holes are stopped generally between 3-5m of this contact.

QUALITY ASSURANCE AND QUALITY CONTROL

On September 15, 2021, an independent laboratory, Intertek Genalysis of Australia, provided results from a set of samples from the 2021 aircore program. These results were determined using multi-acid, near total digest, and analysed by Inductively Coupled Plasma (“ICP”) Optical (Atomic) Emission Spectrometry (“OES”). The sampling was conducted with a robust sampling protocol based upon sequential 1 metre samples that included the appropriate insertion of standard reference material, duplicates, and blanks into the sample stream in the field.

Field operations and management have been provided by Remote Exploration Services (“RES”) an independent geological consulting and contracting company. The aircore drilling was conducted by Blurock Mining Services, of Kitwe, Zambia. Details of the sampling protocol were provided in BeMetals news release “BeMetals Returns Positive Results From Phase 1 Aircore Drilling Program At Pangeni Copper Project,” dated November 15, 2018, available on www.bemetalscorp.com and SEDAR.

Table 2: 2021 Aircore Program Selected Hole Results, Hole ID, Azimuth, Dip, End of Hole Depth, Collar co-ordinates

Aircore Hole ID Azimuth Degree Dip Degree End of hole Depth (m) UTM_X UTM_Y Elevation
D7-04 Vertical -90 29 177549 8601553 1314
D7-4A Vertical -90 27 177646 8601502 1304
D3-15 Vertical -90 39 179148 8601021 1249
D3-15B Vertical -90 30 179260 8600964 1242
F4-2A Vertical -90 30 174964 8601003 1314
F4-02 Vertical -90 24 174883 8601077 1290
F4-2B Vertical -90 27 174823 8601142 1309
Q3-09 Vertical -90 71 172890 8584552 1164
Q3-12 Vertical -90 64 173108 8583998 1155
Q3-02 Vertical -90 64 173036 8584357 1159
Q3-03 Vertical -90 61 173077 8584280 1162

ABOUT THE PANGENI COPPER PROJECT

The Pangeni Project is located on the western extension of the Zambian Copperbelt, within the Lufilian Arc, underlain by Katangan Supergroup metasediments situated unconformably on basement schists and gneisses, which are covered by a thin veneer of Kalahari sands. The open pit Sentinel Copper Mine is operated by First Quantum Minerals Ltd. some 130 kilometres to the northeast of the Pangeni Project (See Figure 3). A number of major international mining companies have identified this region of the Zambian Copperbelt to be prospective for the discovery of tier one copper mines and are also conducting extensive exploration work in this area. The Pangeni Project property is geologically prospective for the following deposit types; Basement-hosted Cu (analogues: the Lumwana Deposit, Nyungu Prospect), Sediment-hosted stratiform Cu-Co (analogues: Nchanga, Konkola, Nkana, and Mufulira Deposits), other Domes Region Deposits e.g. Sentinel, and Kansanshi and DRC Copperbelt Deposits e.g. Lonshi, Frontier, Kamoa-Kakula).

Figure 3: Regional Location of the Pangeni Copper Exploration Project

Figure 3: Regional Location of the Pangeni Copper Exploration Project

ABOUT BEMETALS CORP.

BeMetals is a precious and base metals exploration and development company focused on becoming a leading metal producer through the acquisition of quality exploration, development and potentially production stage projects. The Company has recently established itself in the gold sector with the acquisition of certain wholly owned exploration projects in Japan. BeMetals is also progressing both its advanced high-grade, zinc-silver-gold-copper polymetallic underground exploration at the South Mountain Project in Idaho through a preliminary economic assessment, and its tier-one targeted, Pangeni Copper Exploration Project in Zambia.  Guiding and leading BeMetals’ growth strategy is a strong board and management team, founders and significant shareholders of the Company, who have an extensive proven record of delivering considerable value in the mining sector through the discovery, construction and operation of mines around the world.

The technical information in this news release for BeMetals has been reviewed and approved by John Wilton, CGeol FGS, CEO and President of BeMetals, and a “Qualified Person” as defined under National Instrument 43-101.1

ON BEHALF OF BEMETALS CORP.

“John Wilton”
John Wilton
President, CEO and Director

For further information about BeMetals please visit our website at bemetalscorp.com and sign-up to our email list to receive timely updates, or contact:

Derek Iwanaka
Vice President, Investor Relations & Corporate Development
Telephone: 604-609-6141
Email:    diwanaka@bemetalscorp.com

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 news release

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking statements" and “forward looking information” (as defined under applicable securities laws), based on management’s best estimates, assumptions and current expectations. Such statements include but are not limited to, statements with respect to future exploration, development and advancement of the South Mountain Project, the Pangeni project and the Japan properties, and the acquisition of additional base and/or precious metal projects.  Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts", "anticipates", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur.  These statements should not be read as guarantees of future performance or results.  Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied by such statements, including but not limited to: the actual results of exploration activities, the availability of financing and/or cash flow to fund the current and future plans and expenditures, the ability of the Company to satisfy the conditions of the option agreements for the South Mountain Project and/or the Pangeni Project, and changes in the world commodity markets or equity markets. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, 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. The forward-looking statements and forward looking information are made as of the date hereof and are qualified in their entirety by this cautionary statement.  The Company disclaims any obligation to revise or update any such factors or to publicly announce the result of any revisions to any forward-looking statements or forward looking information contained herein to reflect future results, events or developments, except as require by law. Accordingly, readers should not place undue reliance on forward-looking statements and information. Please refer to the Company’s most recent filings under its profile at www.sedar.com for further information respecting the risks affecting the Company and its business.

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