TSX-V: BMET   CDN$ 0.11 OTCQB: BMTLF   US$ 0.08 Gold:   US$ 2329.63/oz Copper:   US$ 4.62/lb

BeMetals Commences 2023 Drilling in Japan and Mobilises Second Rig

February 15, 2023

Vancouver, British Columbia – BeMetals Corp. (TSXV: BMET, OTCQB: BMTLF, Frankfurt: 1OI.F) (the “Company” or “BeMetals”) is pleased to announce commencement of the 2023 field season with a new 2,000 metre diamond drilling program at the wholly owned Kato Gold Project (“Kato” or the “Property”) in Hokkaido, Japan. This year’s drilling campaign will focus on further extending the Seta and Kamitake vein zones of gold mineralization by testing their grade continuity along strike and at depth, towards the southeast of the Property.

HIGHLIGHTS:

  • The 2023 exploration program has commenced and is focused on further extending the gold mineralization of the Seta and Kamitake veins through drilling, with the objective to scope the resource target potential at Kato
  • The known footprint of Kato gold mineralization has now been drilled over 560 metres along strike with several new drilled intersections made during the 2022 drilling campaign (See Figure 1).
  • Energold Drilling is shipping a second SDS C1500 drilling rig to Japan and it is expected to arrive in early Q2 2023, to accelerate drilling at Kato, and later in the year, initiate drilling at the historical Todoroki Gold-Silver Mine Project.
  • Pioneer Exploration, geophysical consultants, completed a high-resolution airborne drone magnetic survey at the Company’s Tashiro Project in Kyushu, Japan on the 4th of February, 2023.

John Wilton, President and CEO of BeMetals stated, “Based on the success of last year’s exploration program where we intersected 560 metres along strike of Seta Vein gold mineralization, we are very excited to have commenced this year’s drilling campaign at our Kato Project in Japan. Over the coming months we intend to further test the Seta and Kamitake gold veins, along strike and scope their grade continuity at depth. We are also looking forward to adding a second rig to accelerate our drilling rate from early next quarter.

Furthermore, by mid-year we are planning to commence, an initial 1,000 metre drilling program for our Todoroki Gold-Silver Project in southwestern Hokkaido. Thanks to the hard work of our field team in Japan, we have an early start to this year’s exploration activities and intend to maintain this momentum to provide for increased exploration results and related news flow throughout the year.”

2023 EXPLORATION PROGRAM UPDATE IN JAPAN

The Company’s field team has completed snow clearing, re-established access, and have commenced the 2023 drilling ahead of schedule. Based on the success of the 2022 drilling campaign (See Company press release dated January 11, 2023), BeMetals has budgeted to drill an initial 2,000 metre phase of work by approximately mid-2023 for the Kato Project and assay results will be released as they become available. Additionally, an initial 1,000 metres of drilling is planned for the Todoroki Gold-Silver Project and this should commence by mid-year. (See Figure 3 for locations of Kato and Todoroki).

Figure 1 is a simplified geological map of the Kato Project drilling area and illustrates that both the Seta and Kamitake Vein Zones are open along strike to the southeast. These mineralized veins are trending towards an area where significant-grade outcrop rock chip samples were taken in the Seta River valley. (See Figure 1).

The objective for this year’s Kato campaign is to scope out the potential for a mineral resource by yearend. With two rigs operational by mid-year, BeMetals will ramp-up its drilling, resulting in increased news flow from the ongoing programs.

At the Todoroki Gold-Silver Project (“Todoroki Gold-Silver Mine” or “Todoroki”), phases of rock chip and cut channel sampling along with geological mapping were completed in 2022. This data has been integrated with data from the historical Todoroki Gold-Silver Mine and has generated some robust targets for drill testing from mid-2023. The primary objective for this year’s drilling a Todoroki is to test for extensions to the extensive vein swarm. (See Figure 2 below).

At the Tashiro Project in Kyushu, the Company contracted Pioneer Exploration Consultants who recently completed a high resolution airborne drone magnetic survey of the area. This data will be processed and combined with existing geological data to generate drill targets.

Figure 1: Location Map of Holes KT22-11 to KT22-15 at Kato Gold Project

Location Map of Holes KT22-11 to KT22-15 at Kato Gold Project

Note: Results of the historical rock chip sampling have been previously reported reported, and are detailed in the Company’s technical report entitled, “Kato Gold Project Japan NI 43-101 Technical Report” with an effective date of July 13, 2021. 

Figure 2: Simplified Geological Map of Todoroki Gold Project with Sample Locations

Simplified Geological Map of Todoroki Gold Project with Sample Locations

Figure 3: Project Locations Map in Japan

Project Locations Map in Japan

PANGENI PROJECT UPDATE IN ZAMBIA
BeMetals has agreed to a time extension of certain obligations in its option agreement with Copper Cross Zambia for the Pangeni Copper Project. The obligations (as further detailed in the Company’s filed financial statements) required in February 2023 have been extended to June 2023. The Company is expecting analytical results from 2022 drilling shortly and is working with its exploration partners to plan the 2023 exploration program.

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 established itself in the gold sector with the acquisition of a portfolio of wholly owned exploration projects in Japan. BeMetals is also progressing its tier-one targeted, Pangeni Copper Exploration Project in the prolific Zambian Copperbelt with co-funding investor the Japanese state agency JOGMEC (“Japan Organization for Metals and Energy Security”). 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 exceptional value in the mining sector, over many decades, through the discovery, construction and operation of mines around the world.

QUALIFIED PERSON STATEMENT

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.

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: 604-928-2797
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 Kazan Projects in Japan and the Pangeni Project in Zambia, 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 agreement for 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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