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Battery Mineral Resources Provides Update on Ontario Portfolio

-- Battery Mineral Resources' (BMR.V) portfolio of four exploration projects in northeastern Ontario warrant additional exploration of "numerous" priority targets, the company said on Friday.

The four projects -- McAra, Gowganda, Shining Tree and Wilder, are situated west of the historic silver-cobalt mining town of Cobalt and north of the city of Sudbury and is known as the Cobalt Embayment.

All four projects require additional drilling to better define resources. Furthermore, additional follow-up of other silver-cobalt targets is needed at Shining Tree and, due to its proximity to the Juby gold deposit to the west, re-assessment and targeting for gold will be a priority, Battery said. At Wilder, the company is targeting contact-style silver-cobalt mineralization in the central portion of the property.

According to a statement, the Cobalt Embayment hosts over 70 silver-cobalt deposits that have collectively produced 525 million ounces of silver and 50 million pounds of cobalt from high grade veins in the Cobalt, Gowganda and Elk Lake mining camps.

"The company's investment to date in acquiring and exploring has identified a new cobalt resource and numerous high priority targets. Given the current focus on precious and critical minerals, further exploration of the Ontario assets represents an opportunity to generate additional value. We have received various expressions of interest on these properties from several third parties, and BMR will continue to review alternatives to maximize value to our shareholders," said chief executive Laz Nikeas.

Battery Mineral Resources shares closed down $0.005, to $0.175 on Thursday on the TSX Venture Exchange.

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