Global Energy Metals Secures Significant Endorsement of Australian Projects through Non-Dilutive Financing from Sale of Royalties to Electric Royalties Ltd.

President & CEO, Mitchell Smith commented:

"This commitment by Electric Royalties is a significant endorsement of the Millennium and Mount Isa projects by a mine finance firm focused on minerals core to the new energy economy. This royalty sales provides Global Energy Metals with an attractive form of financing and short term investments equal to our market cap through the spin-out of a small royalty on a portion of our Australian projects. It also provides an option to fund future development at Millennium in a non-dilutive manner to the company and create an opportunity for cross marketing promotion with a strong royalty partner."

Electric Royalties CEO & Director, Brendan Yurik said:

"We are pleased to have the opportunity to collaborate with Global Energy Metals on the development of the Millennium and Mount Isa Projects and the royalties will be an excellent addition to our diversified portfolio of battery mineral royalties. The acquisition of this package is consistent with Electric Royalties' objective in establishing a new royalty company with the potential to add considerable value for its shareholders. As this represents our first cobalt royalties we are extremely encouraged by the potential Millennium has in becoming a source of critical material needed to feed the electric revolution."

Initial Royalty

Pursuant to the terms of the LOI, in consideration for a 0.5% gross metal royalty (the "Royalty") on Millennium and the Mount Isa Projects, Electric Royalties will issue to Global Energy Metals 1.15 million shares (the "Consideration Shares") in Electric Royalties and make a CAD $150,000 cash payment on the date of completion of the Transaction as mutually agreed to by the parties (the "Closing Date"). The Consideration shares will be escrowed and have a staged vesting period over eighteen months.

Additional Royalties Option

ERL, will also be granted a call option ("First Option"), exercisable at any time, for a period of two years from the Effective Date, to acquire a 0.5% royalty on the Net Smelter Returns from the Millennium Cobalt Project (the "Millennium NSR"), by paying C$500,000 to Global, payable up to 25% in shares of ERL, at ERL's election.

Upon exercise of the First Option, ERL will have a call option, exercisable on the earlier of: (i) the third anniversary of the Closing Date and (ii) six months from the date that a preliminary economic analysis or similar study on the Millennium Project is provided to ERL, to increase the Millennium NSR by a further 1%, by paying C$1,000,000 to Global, payable up to 25% in shares of ERL, at the election of ERL.

Completion of the NSR Sale is subject to the satisfaction of certain closing conditions.

ABOUT ELECTRIC ROYALTIES LTD.

Electric Royalties is a royalty company set to take advantage of the demand for a wide range of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel & copper) that will benefit from the drive to electrification (cars, rechargeable batteries, large scale energy storage, renewable energy generation and other applications).

Electric vehicle, battery production capacity and renewable energy generation is slated to increase significantly over the next several years and with it the demand for target commodities. This creates a unique opportunity to invest in and acquire royalties over the mines and projects that will supply the materials needed to feed the electric revolution

Electric Royalties currently has a portfolio of 6 royalties under binding letter of intent and plans to focus predominantly on acquiring royalties on advanced stage projects as well as operating projects to build a diversified portfolio located in jurisdictions with low geopolitical risk.

(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)

Global Energy Metals provides investors and partners with exposure to the immediate need for metals critical to the new energy economy by building a diversified global portfolio of cobalt and battery metals rich projects in top-tier mining jurisdictions with exploration & development upside to become a supply chain solution to safe and reliable cobalt for downstream partners. Global Energy Metals holds 100% of the Millennium Cobalt Project and two neighbouring discovery stage exploration-stage cobalt assets in Mt. Isa, Australia. It also currently owns 70% of the Werner Lake Cobalt Mine in Ontario, Canada and has entered into an agreement to acquire an 85% interest in two cobalt-nickel-copper exploration projects in Nevada, 150km East of the Tesla Gigafactory.

For Further Information:

Global Energy Metals Corp.

#1501-128 West Pender Street

Vancouver, BC, V6B 1R8

Email: info@globalenergymetals.com

t. + 1 (604) 688-4219 extensions 236/237

Twitter: @EnergyMetals

Cautionary Statement on Forward-Looking Information:

Certain information in this release may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with regulatory approvals and timelines. Although Global Energy Metals believes the expectations expressed in such forward-looking 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 forward-looking statements. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. For more information on Global Energy and the risks and challenges of their businesses, investors should review the filings that are available at www.sedar.com.

Neither 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.

We seek safe harbour.

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