Megawatt Plans Seasonal Field Work at Tyr Including Phase 1 Drilling

Rhea-AI Summary

Megawatt Lithium and Battery Metals Corp. (OTC PINK: WALRF) has announced a seasonal exploration program for its Tyr Silver Project in New South Wales, Australia, effective March 29, 2018. The program includes data review, geochemical sampling, magnetometer surveys, and high-priority drilling. Historical records indicate significant silver occurrences in the area, with the Ecuador deposit showing 4710ppm silver and Torny Mine at 1420ppm silver. CEO David Thornley-Hall expressed optimism about the program’s contribution to understanding the project’s potential.

Positive

• Approval of a seasonal exploration program for the Tyr Silver Project.
• Historical silver occurrences include the Ecuador deposit with 4710ppm silver.
• Planned activities: data review, geochemical sampling, and drilling of high-priority targets.

Negative

• None.

VANCOUVER, BC, April 29, 2021 /PRNewswire/ - Megawatt Lithium and Battery Metals Corp. (CSE: MEGA) (FSE: WR20) (OTC PINK: WALRF) (the "Company" or "Megawatt") is pleased to announce that it has approved a seasonal exploration program for its Tyr Silver Project in New South Wales, Australia. The tenement covers 100 units over an area of 299km2 and was granted effective on the 29th of March 2018 for a period of five (5) years as a prospective tenure with a large number of known mineral occurrences and historical mining for commodities; silver, tin, arsenic, lead, zinc and tungsten.

The Program will consist of the following components:

1. continuation of data review and database construction
2. continued geochemistry, rock chip sampling and mapping
3. ground based geophysical magnetometer survey
4. drilling of high priority targets.

The planning and execution of drill target generation and identification and subsequent exploration drilling program should be completed, with drillholes sampled and analyzed to appropriate depths as to adequately understand the geology, geochemistry and stratigraphy of the area. The exploration area contains a significant amount of silver occurrences which strikes north-west containing major occurrences such as the Ecuador deposit consisting of 4710ppm silver and Torny Mine consisting of 1420ppm silver from historic exploration records.

David Thornley-Hall, CEO of Megawatt, comments: "We look forward to reviewing the results of our field program at Tyr. The data modelling will bring us one step closer to a more broad understanding of this prospective project."

Qualified Person

Mr. Geoffrey Reed (MAusMM (CP)) (MAIG), Consultant for the Company, is a qualified person as defined by National Instrument 43-101 – Standards of Disclosure or Mineral Projects and has reviewed the scientific and technical information in this press release.

About MegaWatt Lithium and Battery Metals Corp.

MegaWatt is a British Columbia based company involved in the acquisition and exploration of mineral properties in Canada. The Company holds a 100% undivided interest, subject to a 1.5% NSR on all base, rare earth elements and precious metals, in the Cobalt Hill Property, consisting of eight mineral claims covering an area of approximately 1,727.43 hectares located in the Trail Creek Mining Division in the Province of British Columbia, Canada.

Additionally, the Company has acquired a 60% interest in a company that indirectly holds a 100% interest (subject to a 2% NSR) in two prospective silver-zinc projects in Australia, being the Tyr Silver Project and the Century South Silver-Zinc Project (see press release dated August 13, 2020), an indirect 100% interest (subject to a 1% NSR) ina dn to certain mining tenements in Northern Territory and New South Wales, Australia prospective for nickel-cobalt-scandium and rare earths and a 100% interest (subject to a 2% NSR) in and to the Route 381 Lithium Property, comprised of 40 mineral claims located in James Bay Territory, north of Matagami in the Province of Quebec, covering 2,126 hectares (see press release dated February 3, 2021).

Investors can learn more about the Company and team at https://megawattmetals.com.

The CSE does not accept responsibility for the adequacy or accuracy of this release.

This press release includes "forward-looking information" that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements may include but are not limited to, statements relating to the trading of the Company's common shares on the Exchange and the Company's use of proceeds and are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward- looking statements. Such forward-looking statements represent management's best judgment based on information currently available. No securities regulatory authority has either approved or disapproved of the contents of this news release.

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SOURCE MegaWatt Lithium and Battery Metals Corp.

FAQ

What is the purpose of the Tyr Silver Project exploration program?

The exploration program aims to enhance understanding of the geology and mineral potential of the Tyr Silver Project through various activities, including data collection and drilling.

What significant historical findings are associated with the Tyr Silver Project?

The project has notable historical silver occurrences, such as the Ecuador deposit with 4710ppm silver and the Torny Mine at 1420ppm silver.

When was the Tyr Silver Project tenement granted?

The tenement for the Tyr Silver Project was granted on March 29, 2018, for a five-year period.

What are the key components of the upcoming exploration program at Tyr?

The key components include data review, geochemistry, rock chip sampling, geophysical surveys, and drilling of high-priority targets.

What is the stock symbol for Megawatt Lithium and Battery Metals Corp.?

The stock symbol for Megawatt Lithium and Battery Metals Corp. is WALRF.