Navy Metals Provides Key Floor at Its West Gore Antimony Property, Indicators Binding LOI to Purchase Extra Claims

Vancouver, British Columbia–(ACN Newswire – October 24, 2024) – Navy Metals Corp. (CSE: MILI) (OTC Pink: MILIF) (FSE: QN90) (the “Firm” or “Navy”) pronounces it has signed a binding LOI to amass additional claims surrounding its West Gore Antimony Undertaking (“West Gore” or the “Undertaking”) to consolidate the mineralized space. West Gore is a brownfield challenge with previous manufacturing, historic high-grade drill outcomes embody 7.07 metres of 10.6 gpt gold and three.4% antimony. Throughout a interval of manufacturing, it was Canada’s most distinguished antimony mine.

West Gore consists of 4 Exploration Licenses comprising 585 hectares positioned in Hants County, Nova Scotia, Canada, and the newly acquired floor provides 388 hectares to the quick northwest of the Undertaking, comprising the steadiness of the West Gore antimony-gold mineralized system and its historic mine workings. The Firm has a three-year possibility to amass a 100% curiosity within the licenses for $235,000 unfold over the time period and the sellers will obtain a 3% Web Smelter Royalty (“NSR”) with customary buy-back provisions. It’s anticipated the Firm will announce the Definitive Settlement inside ten days.

The historic West Gore mines have a mining historical past courting again to 1883 and have been a big supply of antimony in the course of the First World Conflict, most of which was shipped to England. Whole manufacturing of gold and antimony between 1883 and 1917, the final recorded yr of manufacturing, stays unknown. Nevertheless, between 1914 and 1917 alone, almost 32,000 metric tons have been mined yielding over 7,000 metric tons of antimony focus grading 46% antimony. The full quantity of gold recovered as much as 1917 was estimated to be almost 6,900 ounces. Other than minor exploration work within the Nineteen Sixties, the Eighties, and once more over the previous few years, the West Gore system stays primarily unexplored.

With the acquisition of the brand new claims the Firm has gained full protection over the complete mineralized system together with all of the historic mine workings and identified antimony-gold occurrences with further floor alongside development in each instructions as exhibited in Map 1 beneath. This in flip allows the Firm to method this antimony-gold system in its entirety to unlock future worth. All related information are within the means of being compiled into an built-in digital database, with exploration plans to comply with.

Map 1: West Gore Undertaking Claims

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Antimony-gold mineralization at West Gore is hosted in graphitic and sulfide-bearing slates of the decrease items of the Cambrian-age Halifax Formation that have been deformed right into a northeast-trending, upright, closed syncline and metamorphosed to greenschist facies in the course of the regional Acadian orogeny. Mineralization happens as stibnite, native antimony, aurostibnite, and antimony-gold alloys and oxides. Whereas the fold belt strikes northeast-southwest, mineralized buildings development northwest-southeast.

The technical contents of this launch have been reviewed and accepted by Avrom E. Howard, MSc, PGeo, geological guide to Navy Metals and a certified particular person as outlined by Nationwide Instrument 43-101.

Investor Relations Engagement

On October 23, 2024, the Firm engaged Clarkham Capital (“Clarkham”) to supply investor relations companies with a concentrate on the German inventory market and the German-speaking funding neighborhood in help of the corporate itemizing on the Frankfurt Inventory Change (the “Clarkham Settlement”). Pursuant to the phrases of the Clarkham Settlement, Clarkham will, amongst different gadgets, present the Firm with advertising companies, which incorporates social media administration, content material creation, distribution, digital advertising, together with, however not restricted to, the preparation of articles and coverages on a number of monetary platforms and newsletters, and translation and distribution of press releases in Germany and every other advertising companies as agreed upon by the Firm and Clarkham (the “Providers“). The Clarkham Settlement has a time period of two (2) months and is anticipated to start on or about October 24, 2024. The Firm will make a one-time fee to Clarkham of EUR 200,000 (CAD$298,340), as consideration for the Providers. Sebastian Korbach will likely be offering the Providers to the Firm on behalf of Clarkham and could also be contacted at +44-20-38839398 or cc@clarkham.com, or Flat 285, 61 Praed Avenue, London, UK W2 1ns. The Firm won’t difficulty any securities to Clarkham as compensation. Each Clarkham and Sebastian Korbach are arm’s size to the Firm and would not have any curiosity, direct or oblique, within the Firm or its securities nor have they got any proper to amass such an curiosity.

About Navy Metals Corp.

The Firm is a British Columbia-based mineral exploration firm that’s primarily engaged within the acquisition, exploration and growth of mineral properties with a concentrate on antimony.

ON BEHALF OF THE BOARD OF DIRECTORS

This information launch accommodates “forward-looking info”. Typically, however not at all times, forward-looking statements could be recognized by means of phrases akin to “plans”, “expects”, “is predicted”, “finances”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (together with damaging variations) of such phrases and phrases, or state that sure actions, occasions or outcomes “might”, “may”, “would”, “may” or “will” be taken, happen or be achieved. Ahead-Trying info on this information launch consists of statements associated to the completion of the acquisition of the Goal by Navy, in addition to future plans for exploration actions, and assumptions associated to the continuation of the worldwide demand for antimony. Quite a lot of elements, together with identified and unknown dangers, lots of that are past our management, may trigger precise outcomes to vary materially from the forward-looking info on this information launch. These embody entry right into a definitive settlement in respect of the Acquisition, assembly the circumstances to shut the Acquisition, geopolitical developments associated to the availability of antimony, the continued use of antimony and availability of alternate options, availability of capital and labour in respect of the properties which might be the topics of this information launch, the outcomes of any future exploration actions, which can’t be assured, and such different elements as might influence each the Acquisition and any future actions in respect of the properties held by the Goal. Extra threat elements may also be discovered within the Firm’s public filings underneath the Firm’s SEDAR+ profile at www.sedarplus.ca. Ahead-Trying statements contained herein are made as of the date of this information launch and the Firm disclaims any obligation to replace any forward-looking statements, whether or not on account of new info, future occasions or outcomes or in any other case. There could be no assurance that forward-looking statements will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such statements. The Firm undertakes no obligation to replace ahead trying statements if circumstances, administration’s estimates or opinions ought to change, besides as required by securities laws. Accordingly, the reader is cautioned to not place undue reliance on forward-looking statements.

The Canadian Securities Change has neither accepted nor disapproved the knowledge contained herein and doesn’t settle for accountability for the adequacy or accuracy of this information launch.