Powered by Cobalt … Driven by Demand Global Energy Metals Announces Royalty Sale on Strategic Battery Metal Portfolio for Meaningful Stake in Electric Royalties

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Vancouver, BC / TheNewswire / July 23, 2020 / Global Energy Sun Tower

Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (“Global 128 West Pender St. Vancouver, Energy Metals”, the “Company” and/or "GEMC") is pleased to BC announce that as part of the Company’s porOolio opPmizaPon strategy it has V6B 1R8 entered into a definiPve purchase agreement (the “Purchase Agreement”) to T +1.604.688.4219 TwiGer @EnergyMetals sell a porOolio of royalty interests to Electric RoyalPes Ltd. (TSXV:ELEC) (“Electric RoyalPes” and/or “ERL”) on the Millennium Cobalt Project, the Mt. Dorothy Cobalt Project and the Cobalt Ridge Project (the “Royalty PorOolio”) located in Queensland, Australia.

President & CEO, Mitchell Smith commented:

“The closing of this royalty transac1on and major endorsement by this new electric-metals royalty company underpins another step in the company’s strategy to create value from its strategic ba<ery mineral por=olio.”

“Through the meaningful stake in Electric Royal1es, Global Energy will have added exposure to the strong and diversified energy mineral asset royalty por=olio that ERL holds in lithium, vanadium, manganese, cobalt, and graphite, as well as the added benefit of like-minded corporate objec1ves and growth mandate in a strong cri1cal minerals and clean energy price environ- ment.”

Ini8al Royalty

Pursuant to the terms of the agreement announced on February 27, 2020, in consideraPon for a 0.5% gross metal royalty (the “Royalty”) on Millennium and the Mount Isa Projects, Electric RoyalPes will issue to Global Energy Metals 1.15 million shares (the “ConsideraPon Shares”) in Electric RoyalPes and make a CAD $150,000 cash payment. The ConsideraPon shares will be escrowed and have a staged vesPng period over eighteen months.

Addi8onal Royal8es Op8on

Electric RoyalPes, has also been granted a call opPon (“First OpPon”), exercisable at any Pme, for a period of two years from the EffecPve Date, to acquire a 0.5% royalty on the Net Smelter Returns from the Millennium Cobalt Project (the “Millennium NSR”), by paying C$500,000 to Global, payable up to 25% in shares of ERL, at ERL’s elecPon.

TSX.V GEMC


www.globalenergymetals.com

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Upon exercise of the First OpPon, ERL will have a call opPon, exercisable on the earlier of: (i) the third anniversary of the Closing Date and (ii) six months from the date that a preliminary economic analysis or similar study on the Millennium Project is provided to ERL, to increase the Millennium NSR by a further 1%, by paying C$1,000,000 to Global, payable up to 25% in shares of ERL, at the elecPon of ERL.

ABOUT ELECTRIC ROYALTIES LTD.

Electric RoyalPes is a royalty company established to take advantage of the demand for a wide range of commodiPes (lithium, vanadium, manganese, Pn, graphite, cobalt, nickel & copper) that will benefit from the drive toward electrificaPon (cars, rechargeable baGeries, large scale energy storage, renewable energy generaPon and other applicaPons).

Electric vehicle sales, baGery producPon capacity and renewable energy generaPon are slated to increase significantly over the next several years and with it, the demand for these targeted commodiPes. This creates a unique opportunity to invest in and acquire royalPes over the mines and projects that will supply the materials needed to feed the electric revoluPon.

Electric RoyalPes has a porOolio of 8 royalPes, with a further 3 royalPes under definiPve agreement with closing subject to fulfillment of customary condiPons including regulatory approvals. Electric RoyalPes plans to focus predominantly on acquiring royalPes on advanced stage and operaPng projects to build a diversified porOolio located in jurisdicPons with low geopoliPcal risk.

Qualified Person

Mr. Paul Sarjeant, P. Geo. and Director, is the qualified person for this release as defined by NaPonal Instrument 43-101 - Standards of Disclosure for Mineral Projects and has reviewed and verified the technical informaPon contained herein.

(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)

Global Energy Metals provides investors and partners with exposure to the immediate need for metals criPcal to the new energy economy by building a diversified global porOolio of cobalt and baGery metals rich projects in top- Per mining jurisdicPons with exploraPon & development upside to become a supply chain soluPon to safe and reliable cobalt for downstream partners. Global Energy Metals holds 100% of the Millennium Cobalt Project and two neighbouring discovery stage exploraPon-stage cobalt assets in Mt. Isa, Australia. It also currently owns 70% of the Werner Lake Cobalt Mine in Ontario, Canada and has entered into an agreement to acquire an 85% interest in two cobalt-nickel-copper exploraPon projects in Nevada, 150km East of the Tesla Gigafactory.

For Further Information:

Global Energy Metals CorporaPon #1501-128 West Pender Street Vancouver, BC, V6B 1R8 Email: [email protected]

t. + 1 (604) 688-4219 extensions 236/237 TwiGer: @EnergyMetals

Cautionary Statement on Forward-Looking Information:

Certain information in this release may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with regulatory approvals and timelines. Although Global Energy Metals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward- looking statements. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change. For more information on Global Energy and the risks and challenges of their businesses, investors should review the filings that are available at www.sedar.com.

Neither 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 release.

We seek safe harbour.