Vancouver, British Columbia, December 28, 2023 – Neotech Metals Corp. (CSE: NTMC | OTC: NTMFF | FRA: V690) (“Neotech” or “Company”) wishes to clarify certain technical disclosure relating to its TREO Property contained in its news releases dated November 9, 2023, December 1, 2023, and December 12, 2023 (collectively, the “News Releases“), in its 2023 investor presentation (“Investor Presentation“), and on its website (“Website“) as a result of a review by the British Columbia Securities Commission.
The Company has made reference in the Investor Presentation, Website, and the News Releases to Defense Metals’ Wicheeda Property and to the preliminary economic assessment (“PEA“) conducted in respect thereof. The Wicheeda Property is adjacent to the Company’s TREO Property; however, the Company wishes to reiterate that the proximity of the Wicheeda Property to the TREO Property does not mean the properties share similar mineralization attributes, nor that any mineral resources or mineral reserves that may be contained in the Wicheeda Property are indicative of any mineralization at the TREO Property. The Company notes that the Companion Policy to National Instrument 43 – 101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) states that an issuer should clearly distinguish between information from an adjacent property and its own property.
The Company also disclosed on its Website and the Investor Presentation reported figures from the PEA conducted in respect of the Wicheeda Property. The Company retracts this disclosure in its entirety.
The Investor Presentation, Website, and news release dated December 12, 2023, also disclose certain exploration results. Pursuant to NI 43-101, the disclosure of such results is to be accompanied by the information required by Sections 3.2 and 3.3 of NI 43-101, particularly with regard to the data verification and quality assurance / quality control procedures applied in relation to exploration data. Following is a description of the data verification and quality assurance / quality control procedures applied in respect of the exploration results previously disclosed by the Company.
K.J. Zaka, P.Geo., a consultant of the Company and a “Qualified Person” as defined in NI 43-101, visited the TREO Property on October 17, 2023. Mr. Glazier, a geologist and the CEO of Neotech, accompanied Mr. Zaka and gave a tour of the general layout of the TREO Property, visited several outcrops, and demonstrated how he and the Company’s contractors conducted the Fall 2023 exploration program that consisted of soil, stream sediments, and rock sampling.
Historical exploration work areas with significant reported mineralization showings or carbonatite outcrops were not visited as they were not readily available due to time constraints. No drill cores from 2010 and 2011 drilling were available for examination as previous operators removed them from sites.
Mr. Zaka visited the sample storage facility in a barn in Prince George’s suburb, where samples collected in the Fall of 2023 were securely stored. He photographed the stored samples and took notes of security procedures for storing and shipping them to Actlabs in Kamloops, B.C. for geochemical analysis.
A logistical report describing the Fall 2023 sampling program by the Company’s contractor, Anomalous Exploration Limited (AE), was also made available to Mr. Ike Osman, a consultant of the Company and a “Qualified Person” as defined in NI 43-101.
Geologist Ellen Hunter-Perkin and staff completed the geochemical sampling under the supervision of a professional geologist, Trever Tamburri (P.Geo, P.Eng.).
For quality assurance (QA) and quality control (QC), rare earth element certified reference materials (CRMs) were purchased from the Canadian Laboratories by Neotech, including CDNRE-1201 and CDN-RE-1202. The blank samples were barren coarse quartz samples obtained from a nearby quarry. Before shipping to the lab, the blanks and standards were randomly inserted into the sample stream for soil, sediment, and rock samples. All samples were securely stored in rice bags at camp before being driven to Revelstoke, where a local shipping company transported them to Actlabs in Kamloops. The samples will be prepared and analyzed at the lab with a 4-LITHO package.
The labs referenced above do not have any relationship with the Company apart from a commercial relationship for the provision of laboratory services.
The scientific and technical information contained in this news release has been reviewed and approved by Mr. Ike Osmani, P.Geo., a consultant of the Company, who is a “Qualified Person” as defined in NI 43-101.
About Neotech Metals Corp.
The Company is a mineral exploration company based in Vancouver, B.C., which owns 40 rare earth mineral claims comprising the TREO Property, located in Northern, British Columbia. Canada. The Company also holds options on the EBB nickel-cobalt property located in British Columbia, Canada and 22 mining claims comprising the Thor REE Project, a mid-stage exploration property located in the eastern Mojave Desert Region, approximately 119 kilometers south of Las Vegas.
For More Information please contact:
Reagan Glazier, Chief Executive Officer
Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “will”, “will be” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are from those expressed or implied by such forward-looking statements or forward-looking information subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different, including receipt of all necessary regulatory approvals. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, 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. Accordingly, readers should not place undue reliance on forward- looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
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