Green Battery Minerals Inc. announce that the Company has entered into an option agreement with Volt Carbon Technologies Inc. (TSX-V: VCT) (“Volt” or “Volt Carbon”) enabling Volt Carbon to acquire a 5% interest in the Berkwood Graphite Project (“Berkwood”) by funding $150,000 in exploration before December 31, 2024 and making a one-time cash payment of $1,500,000 on or before December 31, 2025.
Tom Yingling, President and CEO of Green commented: “We are pleased to continue working with Volt Carbon technologies. We first announced working with Volt on May 16th, 2023 See news release May 16th, 2023 “Green Battery Minerals Strengthen ESG Credentials through Successful Air Separation Test of Its Graphite.” Since that announcement Volt has informed Green Battery that they have created lithium-ion batteries with materials from the Berkwood graphite project using Volt’s proprietary graphite processing technology. Volt has informed Green Battery that they have been able to do so without needing any water, chemicals, or reagents, to produce significantly greener, cleaner, and more environmentally friendly batteries. Auto manufacturers and battery producers are looking for a clean North American-based supply chain of battery minerals. One of the primary uses for graphite is that it is used as the anode material in lithium-ion batteries. Currently, there is only one producing graphite mine in North America. Numerous more graphite mines will be needed to keep up with the Electric Vehicle (EV) demand that is forecasted. The current mineral resource at Green Batteries Berkwood Graphite Project includes in-pit constrained resource totalling 1,755,300 tonnes of indicated resources at 17.00 % Cgr and 1,526,400 tonnes in inferred resources at 16.39 % Cgr. With plans to expand this current mineral resource Green Battery hopes to help satisfy some of that demand.”
About the Berkwood Property Option Agreement
Under the terms of the agreement signed June 10th, 2024, Green will grant Volt an option to acquire a 5% interest in the Berkwood Graphite Project. Volt has agreed to spend $150,000 on exploring the Berkwood Graphite Project before December 31, 2024. As part of the agreement, Green will issue Volt 4,000,000 shares of the Company in tranches as certain milestones are met and all shares to be issued will be issued with a four month plus one day hold period. To exercise the option to acquire 5% of the Berkwood Graphite Project, Volt will be required to make a cash payment to Green of $1,500,000 on or before December 31, 2025. This 5% interest can be repurchased from Volt for a payment of $1,800,000 at any time.
The terms of the agreement remains subject to the approval of the TSX Venture Exchange, including the issuance of the common shares. Any shares to be issue will be issued with the required 4 month plus one day hold period.
About the Berkwood Graphite Project
The Berkwood Graphite Project is located within the jurisdiction of Quebec, in the Manicouagan Regional County Municipality, three hours driving time from the city of Baie-Comeau. Easy access is provided via a major secondary road and numerous tertiary and forest roads that traverse the property.
The Zone 1 resource lies 8 km southwest of Nouveau Monde’s deposit which has a $3.5 billion NPV on it. The Companies Zone 1 resource, and that of Nouveau Monde, share many similar geological characteristics, with the Zone 1 resource being of exceptionally high grade and coarse flake size by global standards. Recently Nouveau Monde successfully announced a $150 million-dollar financing and offtake agreements with both General Motors and Panasonic.
The current mineral resource at the Berkwood Graphite Project includes in-pit constrained resource totalling 1,755,300 tonnes of indicated resources at 17.00 % Cgr and 1,526,400 tonnes in inferred resources at 16.39 % Cgr.
Table 2: In-pit Resource at Lac Gueret South Project (rounded numbers)
Current Resources (as of June 17, 2019)
| Minerals Resources Category | Tonnage (Mt) | Grade (% Cgr) | Cgr (t) | Cut off |
| Indicated | 1.76 | 17.0 | 299,200 | 6.81% |
| Inferred | 1.53 | 16.4 | 250,200 | 6.81% |
The mineral resource estimates above are described in the technical report entitled, NI 43-101 Technical Report Mineral Resource Estimate on the Lac Gueret South Graphite Property, Quebec, Canada. With an Effective date of June 30, 2019, by Edward Lyons, PGeo., Florent Baril, ing., and Claude Duplessis, ing.
Link to Report:
https://wp-greenbatteryminerals-2023.s3.ca-central-1.amazonaws.com/media/2023/09/ReportFINAL_compressed.pdf
QAQC Comments: All samples were collected by typical field methods according to CIM best practices, selected samples were collected by representative rock chips into numbered samples bags, a CRM sample was inserted at a ratio of 1 sample in 20 to the sample batch, field duplicates were additionally collected to confirm the outcrop geochemistry. All samples were submitted to SGS laboratories, results are currently pending.
About the Company: Green Battery Minerals is managed by a team with over 150 years collectively with a proven track record of not just finding numerous mines but building and operating them too. The Green Battery Mineral management team’s most recent success is discovering the Berkwood graphite resource in Northern Quebec. Green Battery Mineral owns this asset 100 percent, and the Company’s shareholders will benefit from this asset as the demand for Graphite for electric vehicles increases significantly.
On Behalf of the Board of Directors
Green Battery Minerals lnc.
‘Thomas Yingling’
President, CEO & Director
