New Age Metals Prepares its Platinum Group Metals Division to Launch

Core Insights - New Age Metals Inc. (NAM) is focusing on its Platinum Group Metals (PGM) division, particularly the River Valley Palladium Project in Ontario and the Genesis PGM-Cu-Ni Project in Alaska, as part of its strategy to develop critical and precious metal projects in North America [1][3][23] PGM Division Overview - The PGM division is a core part of NAM's strategy, with significant updates on its flagship projects and a positive market outlook for PGMs [1][17] - The River Valley Palladium Project is one of Canada's largest undeveloped primary PGM deposits, with a compliant Mineral Resource of approximately 2.3 million ounces in the Measured and Indicated classifications and 1.6 million ounces in the Inferred classification [3][4] River Valley Palladium Project - The River Valley Project is 100% owned by NAM and is currently in the development stage, having completed a Preliminary Economic Assessment (PEA) in 2023 [4][6] - The 2023 PEA outlines a smaller, higher-grade operation with lower capital expenditures and a smaller environmental footprint compared to the 2019 PEA [6] - Comprehensive environmental baseline studies are ongoing, involving local Indigenous communities, to support future permitting [6][10] - NAM is planning additional drilling programs to convert Inferred to Indicated Mineral Resources and expand the Mineral Resource base [8][9] Genesis PGM-Cu-Ni Project - The Genesis Project is an earlier-stage exploration project located in Alaska, with 100% ownership by NAM [11][12] - Surface exploration has identified significant PGM mineralization, with grades up to 2.4 g/t for palladium and platinum, and nickel-copper sulfide mineralization with samples up to 0.96% Ni and 0.58% Cu [12][13] - NAM is actively seeking a joint venture partner to advance the Genesis Project, allowing the company to focus on the River Valley Project while benefiting from exploration successes at Genesis [13][31] Market Outlook for PGMs - The market outlook for PGMs is positive, driven by constrained supply and evolving demand, particularly in the automotive sector and emerging technologies like hydrogen fuel cells [17][20] - Global PGM supply is concentrated, with South Africa and Russia being major suppliers, leading to supply risks and historical market deficits [17][20] - Tighter emissions regulations are maintaining high demand for PGMs in exhaust after-treatment systems, with expectations for continued growth in the hydrogen economy [20] Government Support and Investment - There is unprecedented government support for critical metals exploration and development, with significant investments announced by both Canadian and U.S. governments [21]