EMP METALS ANNOUNCES RESULTS OF LITHIUM PRELIMINARY RESOURCE ASSESSMENT

May 2, 2023

Vancouver, British Columbia, May 2, 2023 EMP Metals Corp. (CSE: EMPS) (OTCQB: EMPPF) (“EMP Metals” or the “Company”) is pleased to announce the results of Hub City Lithium Corp. (“Hub City Lithium”) National Instrument 43-101 Technical Report on the lithium brine potential and preliminary resource assessment (“Preliminary Assessment”) for the Mansur and Viewfield project areas. 

The Preliminary Assessment confirms an inferred lithium resource of 1.15 million tonnes of lithium carbonate equivalent (“LCE”) at a weighted average grade greater than 143 mg/l within Hub City Lithium’s Mansur and Viewfield project areas.  The Preliminary Assessment evaluates more than 300 wells within the region and evaluates 8 stacked zones of high lithium concentrations within the Duperow formation.

Importantly, the Preliminary Assessment also identifies an inferred resource of greater than 500,000 tonnes with concentrations above 198 mg/l with a cutoff grade of 140 mg/l applied.  Hub City Lithium remains focused on areas of highest economic potential which combine high reservoir capacity and high lithium concentrations to create a value density that is expected to optimize development economics.  Clearly, the Hub City Lithium projects are showing excellent value density, which combined with the relatively shallow 1,800m drill depths and no contamination from H2S or oil residue, is expected to improve project economics over the initial stages of development and during critical payout periods. 

“The reservoir quality and high lithium concentrations of up to 259 mg/l have created an unusually high value density within our project areas.  We certainly believe that this value density will lead to significant development advantages.  We are excited to now be working with Sproule to develop a Preliminary Economic Assessment and outline the capital and lifting cost advantages of this project,” commented Cam Taylor, ROK Resources CEO and Technical Manager of the project.

LCE: Lithium carbonate equivalent

Resource Details By Project Area

Mansur Project Area

  • Total inferred resource net to Hub City Lithium is 503,450 tonnes LCE
  • 10.0% Average effective porosity across 79.5 meters of net reservoir
  • Wymark B, (76.9 mg/l) Wymark C(148.0 mg/l) Wymark E(103.4 mg/l) have a blended weighted average concentration of 110.5 mg/l and a combined lithium in place of 244,850 tonnes LCE
  • Extended flow tests have confirmed high flow capability

Viewfield Project Area

  • Total inferred resource net to Hub City Lithium is 747,500 tonnes LCE
  • Viewfield concentrations ranged from 52.8 mg/l to 258.6 mg/l across 8 Duperow zones
  • 12.8% average effective porosity across 81.0 meters of net reservoir in all 8 zones
  • 6 zones have concentrations above 90 mg/l representing more than 80% of lithium in place
  • Weighted average of 6 zones blended is 152.7 mg/l with a lithium in place of 650,000 tonnes LCE
  • Porosities within the 6 zones range from14.0% to 20.4% over 60.4 meters of net reservoir
  • Value density of 14,476 tonnes LCE per square mile at 152.7 mg/l
  • Extended flow tests have confirmed high flow capability

Next Steps

A follow up vertical well at Viewfield will be drilled and tested no later than Q3 2023 to provide additional test data and to provide a water disposal well for future flow testing of horizontal wells.

Sproule Holdings Limited (“Sproule”) has been engaged to assist with a Preliminary Economic Assessment (“PEA”) on the Viewfield project area.  This PEA will provide an economic framework for an initial commercial development covering a 16 square mile block surrounding the initial test well. 

The initial phase of the PEA will only be evaluating a portion of Hub City Lithium’s land, specifically 4,100 hectares (10,000 acres) which represents approximately 5% of its land holdings.  Step by step expansion of the PEA into the offsetting land blocks will allow Hub City Lithium to expand its development program and the ultimate recoverable resource.

Selection of a direct lithium extraction (“DLE”) technology provider is underway with large samples currently being sent for testing by multiple prospective DLE technology providers.

Joint Venture

EMP Metals and ROK Resources Inc. (“ROK”) (TSXV: ROK) jointly own HCL, holder of 192,000 net acres (77,700 hectares) of mineral titles in Saskatchewan. EMP Metals has a seventy-five (75%) percent interest in HCL, with the balance owned by ROK.

Qualified Person

The scientific and technical content relating to the mineral resources presented in this news release has been reviewed and approved by Mr. Trevor Else, P. Geo., of Red Tree Exploration Inc. Mr. Else is independent of EMP Metals and a Qualified Person for the purposes of National Instrument 43-101. The Technical Report supporting this disclosure will be filed at www.sedar.com and available at www.empmetals.com within 45 days of this news release.

Quality Control and Quality Assurance 
Swab tests were performed by Red Hawk Well Servicing, with the use of a downhole mechanical swabbing string and associated surface equipment. Swabbing and ESP flow testing volumes were monitored Test Pro Energy Services.  The Company uses industry standard quality assurance and quality control protocols in carrying out its exploration activities.

About EMP Metals

EMP Metals is a Canadian-based exploration company focused on the acquisition and exploration of mineral projects with significant development potential. EMP, in partnership with ROK Resources, currently holds 192,000 net acres (77,700 hectares) of mineral titles in the Williston basin of Southern Saskatchewan.  For more information, please go to the Company’s website at www.empmetals.com

For more information, please contact:

Rob Gamley, President & CEO

rob@empmetals.com

Phone: 1-604-689-7422

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. EMP Metals cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond EMP Metals’ control. Such factors include, among other things: risks and uncertainties relating to EMP Metals’ limited operating history, ability to obtain sufficient financing to carry out its exploration and development objectives on its mineral properties, obtaining the necessary permits to carry out its activities and the need to comply with environmental and governmental regulations.  Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, EMP Metals undertakes no obligation to publicly update or revise forward-looking information.

The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.

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