Green Light Metals Files Technical Reports for the Reef, Bend, and Kalium Canyon Properties

March 08, 2022 2:00 PM EST | Source: Green Light Metals Inc.

Medford, Wisconsin--(Newsfile Corp. - March 8, 2022) - Green Light Metals Inc. ("Green Light" or the "Company") is pleased to announce that it has filed three independent technical reports in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") for each of its Reef gold-copper property, Bend copper-gold property, and Kalium Canyon gold property. The technical reports are available under Green Light's issuer profile at www.SEDAR.com.

Reef Gold-Copper Property
The Company has filed a technical report titled "An Evaluation of the Reef Gold-Copper Deposit, Marathon County, Wisconsin, USA" with an effective date of February 11, 2022 (the "Reef Property Technical Report"). The Reef Property Technical Report was prepared by Jeffrey S. Lynott and Theodore A. DeMatties, each of whom is a "qualified person" as such term is defined in NI 43-101, who have reviewed and approved the technical and scientific information presented herein as accurate and has approved this news release.

Bend Copper-Gold Property
The Company has filed a technical report titled "An Evaluation of the Bend Volcanogenic Massive Sulfide (VMS) Deposit, Taylor County, Wisconsin, U.S.A.", with an effective date of March 3, 2022 (the "Bend Property Technical Report"). The Bend Property Technical Report was prepared by Theodore A. DeMatties, a "qualified person" as such term is defined in NI 43-101, who has reviewed and approved the technical and scientific information presented herein as accurate and has approved this news release.

Kalium Canyon Gold Property
The Company has filed a technical report titled "Kalium Canyon, Goldfield Quadrangle, Esmeralda County, Nevada, United States of America" with an effective date of January 12, 2022 (the "Kalium Canyon Property Technical Report"). The Kalium Canyon Property Technical Report was prepared by Peter Bittenbender, a "qualified person" as such term is defined in NI 43-101, who has reviewed and approved the technical and scientific information presented herein as accurate and has approved this news release.

The acquisition of the Kalium Canyon Property is subject to the consummation of the Company's previously announced amalgamation with Can-America Minerals Inc. ("Can-America") that is described in its news release date December 16, 2021, a copy of which is available under Green Light's issuer profile at www.SEDAR.com.

ABOUT GREEN LIGHT
Green Light's mission is to expand known mineral resources and make new discoveries on one of North America's most prolific yet underexplored volcanogenic massive sulfide ("VMS") greenstone belts - the Penokean Volcanic Belt (the "Belt") in Wisconsin, USA. The Belt's deposits are rich in the clean energy metals copper and zinc, as well as gold, that are required to power the imminent green, low carbon economy. The Company's strategy is to capitalize on its first mover advantage to consolidate, secure, and drill dominant land positions.

Green Light is committed to operating in a responsible and sustainable manner that benefits our local communities, bolsters national security, and assists in building and securing crucial US supply chains, all while protecting the environment. The Company has established an ESG Committee and is fully committed to transparency, accountability, environmental stewardship, safety and community engagement.

The Company's key assets on the Belt are the Reef gold-copper and Bend copper-gold properties, each of which contains known historical resources with the potential for expansion. In addition, upon consummation of the amalgamation with Can-America, the Company will control two additional prospective properties in Wisconsin - Lobo and Black. Outside of Wisconsin, the Company will control the Kalium Canyon property, an exciting epithermal gold prospect located in the Walker Lane District of Nevada, upon consummation of the amalgamation with Can-America.

Green Light is currently a private reporting issuer. In the coming months, the Company intends to complete the proposed amalgamation with Can-America and concurrently list the resulting issuer's common shares for trading on the TSX Venture Exchange.

For further information, please contact:

Dan Colton
President & CEO, Director
(612) 839-8286
dancolton@greenlightmetals.com

David Carew
CFO and Corporate Secretary
(416) 786-4867
dave@greenlightmetals.com


Cautionary Statements

Certain statements contained in this news release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "intend", "may", "will", "expect", and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current beliefs or assumptions as to the outcome and timing of such future events. In particular, this news release contains forward-looking information relating to the proposed transaction with Can-America (the "Proposed Transaction") and associated transactions, including statements regarding the terms and conditions of the Proposed Transaction\. Although the Company and Can-America believe in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company and Can-America can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risk that the parties will not proceed with the Proposed Transaction and associated transactions, the ultimate terms of the Proposed Transaction and associated transactions differing from those that currently are contemplated, and the Proposed Transaction and associated transactions not being successfully completed for any reason (including the failure to obtain the required shareholder and regulatory approvals or clearances). The statements in this press release are made as of the date of this release. The Company and Can-America undertake no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, Can-America, their securities, or their respective financial or operating results (as applicable).

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon.

This press release is not an offer of the securities for sale in the United States. The securities may not be offered or sold in the United States absent registration or an available exemption from the registration requirements of the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") and applicable U.S. state securities laws. Green Light will not make any public offering of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Neither the TSX Venture Exchange, Inc. nor its Regulation Services Provider (as that term is defined in the polices of the TSX Venture Exchange) has in any way passed upon the merits of the Proposed Transaction and associated transactions and neither of the foregoing entities has in any way approved or disapproved of the contents of this press release.

Neither the TSX Venture Exchange, Inc. nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/115989

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