Enerev5 Exploration Update

Toronto, Ontario--(Newsfile Corp. - December 13, 2022) - Enerev5 Metals Inc. (TSXV: ENEV) (OTCQB: ENEVF) (Enerev5 or the "Company") announces exploration plans for its "Barbara Bay" nickel, copper, cobalt project in Quebec that comprises about 33,200 hectares of contiguous claims.

The Barbara Bay property (Figure 1) is located 100 km northeast of Sept Iles, Quebec west of and adjacent to Lake Manitou. The property encompasses the entire contact of the Turtle Anorthosite Complex (TAC). Historic work by Soquem Inc. (Soquem) in the 1990s discovered outcrops of sulphide in anorthosite (see Figure 2) composed mainly of pyrrhotite and chalcopyrite and containing anomalous nickel (Ni), copper (Cu) and Cobalt (Co). Although the TAC was fully mapped (Figure 3), very little exploration has occurred at the contact which was considered by Soquem to be favorable for Ni-Cu-Co mineralization (1997).

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7332/147848_dcfe02e704d7f8a0_002.jpg
Figure 1 - Location map of Barbara Bay and Goals Met properties relative to Go Metals HSP Project.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7332/147848_dcfe02e704d7f8a0_002full.jpg

Drilling within the intrusion by Soquem was limited to a single drillhole which encountered a narrow zone of sulphide mineralization that returned 0.42% Ni, 0.17% Cu and 0.06% Co over 0.5 m. The drillhole did not intersect the contact and ended in a leucogabbro-norite at 197 m.

Subsequent airborne surveys in 1997/98 (see Figure 4) identified several conductors at or near the interpreted contact that do not appear to have been followed up. This vintage of survey is expected to be accurate to no better than 50-100 metres, enough resolution for staking purposes but not enough for a direct drilling program.

The Barbara Bay Property encircles the TAC which is about 250 km2 in size. This represents almost 60 km of favorable contact between the anorthosite and the surrounding gneissic and granitic country rocks. Enerev5 is preparing for a March 2023 airborne survey to identify conductive sulphide mineralization along the TAC contact for a follow-up drill program anticipated to be as early as summer 2023.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7332/147848_dcfe02e704d7f8a0_003.jpg
Figure 2 - Geology of Gaspe Peninsula, Quebec showing HSP and Turtle Anorthosite units.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7332/147848_dcfe02e704d7f8a0_003full.jpg

Steve Balch, one of the Vendors of the Barbara Bay property, is a qualified person within the meaning of NI 43-101 and is responsible for the technical information contained in this press release.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7332/147848_dcfe02e704d7f8a0_004.jpg

Figure 3 - Selective surface assays near the Turtle Anorthosite contact of the Barbara Bay project.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7332/147848_dcfe02e704d7f8a0_004full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7332/147848_img_550.jpg

Figure 4 - Selected conductive responses (yellow circles) near the Turtle Anorthosite contact of the Barbara Bay project.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7332/147848_img.jpg

About Enerev5 Metals Inc.

Enerev5 Metals Inc. (TSXV: ENEV) (OTCQB: ENEVF) is a Canadian resource company focusing on exploration and development potential related to energy metals such as nickel, copper, cobalt, and other strategic battery minerals, as well as other net zero related assets.

For more information on the Company, investors should review the Company's filings at www.sedar.com.

For additional information, please contact:

John F. O'Donnell
CEO and Chairman of the Board
Enerev5 Metals Inc.
Telephone: +1-647-966-3100
Website: www.enerev5metals.net

Forward-Looking Statements

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future activities and events or developments that the Company expects are forward-looking statements. .Such statements include those regarding the anticipated exploration activities on the Barbara Bay property. Although the Company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in forward-looking statements. These include market prices, exploitation, and exploration successes, continued availability of capital and financing, and general economic, market or business conditions, including the continuing effects of the COVID pandemic and the situation in Ukraine. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review registered filings at www.sedar.com or on its website at www.enerev5metals.net.

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

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/147848

info