The Moment the Clean-Energy Boom Ran Into 'Drill, Baby, Drill' — WSJ

VANCOUVER, BC / ACCESS Newswire / July 4, 2025 / Battery X Metals Inc. (CSE:BATX)(OTCQB:BATXF)(FSE:5YW, WKN:A40X9W)("Battery X Metals" or the "Company") an energy transition resource exploration and technology company, announces that it has voluntarily relinquished four single-cell mining claims (the "Claims") associated with its gold and copper Belanger Project (the "Belanger Project"), located in the Red Lake Mining Division of northwestern Ontario.

The Claims, numbered 593858 through 593861, represent a total area of approximately 81.3 hectares (ha). As a result, the Belanger Project's total area has been reduced from approximately 2,214.9 ha to approximately 2,133.6 ha.

Following the decision to relinquish the Claims, the Belanger Project now comprises 105 contiguous, unpatented single-cell mining claims, covering approximately 2,133.6 ha. This strategic decision reflects the Company's ongoing efforts to optimize its asset portfolio and allocate capital toward higher-potential projects.

The Company applied for and has been granted an extension (the "Extension") of time by the Ontario Ministry of Energy and Mines, relating to exploration work on the Belanger Project. The Company also maintains a NI 43-101 Technical Report on the Belanger Project.

The Extension allows the Company additional flexibility to revisit exploration plans for the Belanger Project while it concentrates efforts on its battery metals initiatives as part of its broader strategic focus on building a 360° presence across the battery metals value chain. Under the Extension, the Company now has until April 18, 2026, to complete two years' worth of exploration expenditures on the property, totaling a minimum of $62,698. The original required expenditure of $31,349 was due by April 18, 2025.

The Company is currently undertaking a comprehensive review of its strategic options and budgetary priorities for the Belanger Project. This includes a measured evaluation of the project's long-term potential within the context of its evolving asset portfolio and forward-looking initiatives across the battery materials ecosystem.

Management remains committed to a disciplined, value-oriented approach to capital deployment and is considering strategic pathways for the Belanger Project. The Company will provide further updates as it determines the most appropriate path forward within its overall corporate and battery metals strategy.

About Battery X Metals Inc.

Battery X Metals (OTCQB:BATXF)(FSE:5YW, WKN:A40X9W) is an energy transition resource exploration and technology company committed to advancing domestic and critical battery metal resource exploration and developing next-generation proprietary technologies. Taking a diversified, 360° approach to the battery metals industry, the Company focuses on exploration, lifespan extension, and recycling of lithium-ion batteries and battery materials. For more information, visit batteryxmetals.com.

On Behalf of the Board of Directors

Massimo Bellini Bressi, Director

For further information, please contact:

Massimo Bellini Bressi

Chief Executive Officer

Email: mbellini@batteryxmetals.com

Tel: (604) 741-0444

Disclaimer for Forward-Looking Information

This news release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this release include statements regarding the Company's strategic decisions related to the Belanger Project, including the current decision to relinquish the Claims, the extension granted by the Ontario Ministry of Energy and Mines, planned exploration expenditures and timelines, the evaluation of strategic options for the Belanger Project, the Company's broader strategic focus on the battery metals value chain and the actions undertaken in furtherance of the Company's 360° strategy. Forward-looking statements reflect management's current beliefs, expectations, and assumptions based on available information as of the date of this release. However, these statements are subject to known and unknown risks, uncertainties, and other factors that could cause actual results, performance, or achievements to differ materially from those expressed or implied by such forward-looking statements. These risks include, but are not limited to, the risk that exploration or development plans for the Belanger Project may change or not materialize, and general economic, market, and regulatory conditions. Additional risks and uncertainties are discussed in the Company's filings on SEDAR+. The forward-looking statements in this news release are made as of the date hereof, and Battery X Metals disclaims any intention or obligation to update or revise such statements, except as required by law. Investors are cautioned not to place undue reliance on these forward-looking statements.

SOURCE: Battery X Metals

View the original press release on ACCESS Newswire