Global Energy Metals 100% Acquires 100% Of Millennium Cobalt Project & Neighbouring Mt. Isa Cobalt Projects

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Tuesday, June 26, 2018

As the hunt for global cobalt supply continues to heat up, Global Energy Metals Corp. (TSX-Venture:GEMC) (OTCQB:GBLEF) threw their hat into the ring by announcing that they have entered into a binding agreement with Hammer Metals to acquire the balance of the interest in the Millennium Cobalt Project as well as the Mt. Dorothy Cobalt Project and the Cobalt Ridge Project (collectively the "Mt. Isa Projects"), such that it will hold 100% of both the Millennium Property and the Mt. Isa Projects. 

This accelerated acquisition of cobalt rich assets positions GEMC as the region's leading cobalt explorer/developer building a district-scale cobalt opportunity in Queensland Australia's Mt. Isa prolific mining jurisdiction. 

Mitchell Smith, President & CEO of Global Energy Metals, commented: "This combination creates one of the largest and most exciting exploration cobalt packages in Australia. Spurred by the recent drilling success and confidence in adding to the already significant cobalt tonnage at Millennium, we are pleased to announce this acquisition which furthers our long-term growth and value-building strategy. With this acquisition, we continue to consolidate multi-million tonne cobalt assets and maximize cobalt leverage for our shareholders. Upon completion, we plan to recommence exploration and expansion of the project with the intent to commission a current resource estimate for the projects as well as identify new opportunities in the cobalt rich district."

Shares of GEMC are even on the news in early-morning trading, however the day is still young. Shares of GEMC have had a rough 2018 thus far, so today’s news may make shareholders re-consider a position in the growing cobalt miner.

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