Vancouver, B.C. – TheNewswire - September 16, 2024 – Bolt Metals Corp. (“Bolt” or the “Company”) (CSE: BOLT) (FRANKFURT: A2QEUB) (OTCQB: PCRCF) is pleased to announce that it has acquired through staking an additional 1,542 hectares of mineral claims contiguous to it recently acquired New Britain, high-grade antimony property, BC, Canada (“Property”) (see the Company’s press release dated September 9, 2024).

The expanded New Britain property is a total 2,035 hectares, expanded to the northeast, east, and southeast, covering interpreted trends of the main prospect, the regional geological units and structures, and anomalous stream sediment values from the B.C. geochemistry data base. The eastern portion of the property covers an anomalous stream sediment sample returning 99 parts per billion gold (ppb Au), ranked in the 95th percentile and above in the regional survey3.

3(sample ID: 082K771019, Lardeau (NTS 082K) Sample Reanalysis (ICP-MS), Geoscience BC Report 2013-04)

Global Antimony Supply Shock

On August 14, China announced export restrictions on antimony in the country’s latest move to restrict critical mineral shipments globally in the name of national security. Antimony is a critical input for the defense industry, particularly for armor-piercing ammunition, night vision goggles, infrared sensors, bullets, and precision optics, and the electronics industry, including semiconductors, cables, and batteries. This is the latest restriction after a series of export controls in 2023 on graphite, germanium, gallium, and rare earth processing technologies, raising alarms in the semiconductor, electric vehicle, and defense industries that rely on these materials.

China is the world’s leading producer of antimony, accounting for 48 percent of global production and 63 percent of U.S. antimony imports. The likelihood of antimony supply disruptions has now increased significantly, necessitating the United States to quickly secure antimony supply chains from non-Chinese sources.

(Centre for Strategic and International Studies, August 20, 2024 “China’s Antimony Export Restrictions: The Impact on U.S. National Security”)

New Britain Property

The Property comprises 2,035 hectares located approximately 40kms north, north-west of Kaslo, BC and is accessible by highway and forest service roads.

Development at New Britain in the early 1980s included extending a short adit excavated to evaluate a quartz vein within a 20-metre-wide shear zone that strikes north and dips subparallel to bedding. The rocks within the shear are altered to sericite schist. High silver, lead and antimony values occur with massive sulphides on the apex of drag-folds within the shear. Mineralization consists of galena and tetrahedrite within quartz-calcite veins. A chip sample across 0.6 metre of vein material assayed 2358 grams per tonne silver, 29.9 per cent lead, 10.4 per cent antimony and 9.7 grams per tonne gold1.

There are multiple antimony occurrences in the area, including the North Star prospect in Goat Range Park, and the West Ridge prospect at Eagle Plains Snowstorm property. Geological mapping and interpretation at Snowstorm, indicates a southeast-northwest tend in geology and structure, trending onto the New Britain property. The West Ridge prospect, located 4.7 kms to the northwest was developed in the late 1920’s, with a shallow shaft and a 150-metre adit. Assessment reports indicate mineralization of massive stibnite-galena in quartz veining assaying up to 16.1% antimony, 1.58% copper, 41.1% lead, and 1,539 g/t silver over a width of “at least 1 metre2.

Marketing Arrangements

The Company has engaged Fairfax Partners Inc. (“Fairfax”) for outreach services and social media marketing for a 1-month period commencing September 12, 2024. The Company will be charged a fee of C$15,000 with an option to continue on a month-to-month basis at a rate to be determined. Fairfax is arm's length to Bolt Metals, and to the Company's knowledge, Fairfax and its principals do not currently own any securities in the Company. Fairfax may though, from time to time, acquire and dispose of shares for investment purposes during the term of the agreement. The principal of Fairfax Partners Inc. is Daniel Southan-Dwyer of 1221 Bidwell Street, Vancouver, BC, V6B 0B1. Mr. Southan-Dwyer’s email is connect@fairfaxpartners.ca.

The Company has entered into a consulting services agreement dated September 10, 2024, with Walk the Street Capital Inc. ("WTS Capital"), pursuant to which WTS Capital will provide media content strategy, creation, and dissemination services. The services are anticipated to commence on September 12, 2024 and run for a period of 3 months. WTS Capital will be paid a one-time fee of C$35,000 by the Company. WTS Capital is arm's length to Bolt Metals, and to the Company's knowledge, WTS Capital and its principals do not currently own any securities in the Company. WTS may though, from time to time, acquire and dispose of shares for investment purposes during the term of the agreement. WTS Capital can be contacted at 405 Ridge Rd N, Ridgeway, Ontario L0S 1N0; Tel: (905) 321-1470; josh@walkthestreetcapital.com.

The Company has entered into a consulting services agreement dated September 10, 2024, with Aktiencheck.de AG ("Aktien") and its principal Stefan Lindam, pursuant to which Aktien will assist with an initial European marketing awareness program (the "Program"). The engagement includes up to 5 editorial write-ups, standalone email marketing campaign distribution of the editorial write-ups to opt-in email-addresses of active investors, targeted distribution of the editorial reports to active investors, distribution of the editorial write-ups via social media to active financial investors, and distribution of the editorial write-ups via the aktiencheck.de website. The Program is anticipated to commence on September 12, 2024 and will run for up to 3 months. The cost of the engagement is EUR 25,000. No shares or options were issued to Aktiencheck.de AG or its principal as part of this engagement. The principal of Aktiencheck.de AG is Stefan Lindam of Bahnhofstraße 6 56470 Bad Marienberg Deutschland. Mr. Lindam's email is stefan.lindam@aktiencheck.de and main contact number is +49 2661 9890020. Aktiencheck.de AG and its principal have no present interest, directly or indirectly, in the Company or its securities, and no right or intent to acquire such an interest.

Qualified Person

Mr. Garry Clark, P. Geo., a member of the Company's Board of Directors, a "Qualified Person" under NI 43-101, has reviewed the technical contents of this news release and has approved the disclosure of the technical information contained herein.

1 (BC Geological Survey - Assessment Report 8532; Donald W. Tully, P.Eng. for Paymaster Mines Inc.; September 15, 1980).

2 (BC Geological Survey - Assessment Report 16433; C. Geoffrey Spearing, B.SC. (Eng) and John Ostler, M.Sc., P.Geol. for Ambergate Explorations Inc.; October 15, 1987); and

2 (BC Geological Survey – Assessment Report 18136; C. Geoffrey Spearing, B.SC. (Eng) and John Ostler, M.Sc., P.Geol. for Ambergate Explorations Inc.; November 1, 1988

Bolt Metals Corp.

Branden Haynes – Director and CEO
(604) 817-1595
info@boltmetals.com

Reader Advisory

This news release may contain statements which constitute “forward‐looking information”. The words “may”, “potential”, “should”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect”, and similar expressions, are intended to identify such forward‐looking statements. Investors are cautioned that any such forward‐looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward‐looking statements. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

The Canadian Securities Exchange has not approved or disapproved this news release.