RECHARGE RESOURCES CLOSES THE ACQUISITION OF BRUSSELS CREEK

Vancouver, BC, Canada, May 12, 2022 (GLOBE NEWSWIRE) — Reload resources ltd. (RR : CSE) (SLLTF: OTC) (SL5: Frankfurt) (“Recharge” or the “Company”) announces that, further to the press release dated March 21, 2022, it has completed the acquisition of a 100% interest in the gold-copper-palladium property of the Brussels Creek project, located in the Kamloops mining district, in British Columbia (the “Property”). Prior to this change, Recharge had acquired a 60% interest in the property.

Recharge acquired the right, title and remaining 40% interest in the property in consideration for Recharge paying $75,000 and issuing 2,500,000 common shares in the capital of the Company. Interest earned is subject to a 2% net smelter royalty payable to the option buyer. One percent of the royalty can be purchased for $1 million, exercisable at any time no later than the expiration of one year from the start of commercial production on the property. No further work commitment is required under the initial agreement.

On the Brussels stream Pproject

The property is an early-stage exploration property, located approximately 24 kilometers west of Kamloops, British Columbia, and is immediately adjacent to New Gold’s New Afton mine. The property consists of 17 claims (66 cells) covering 1,350.43 hectares. The geological setting of the property is very similar to that of New Afton, a silica-saturated copper-gold alkaline porphyry type deposit, as well as the Highland Valley, Mount Polly, Kemess and Galore Creek deposits. Recent field observations have noted the presence of a substantial body of mineralized quartz-feldspar porphyry intruding the overlying Nicola Group volcanics. Historical sampling and mapping on the property, in 1983 and 1984, located a large anomalous zone (200 meters by 400 meters) with gold values ​​up to 3.5 grams per tonne. Grab samples taken from the property in 2019 include values ​​of 10.1 g/t Au (with 0.7 g/t palladium) and 11.5 g/t Au.

In 2020, Syber began exploration work on the property and completed an airborne magnetometric survey over the entire property, a lidar and orthophotographic survey, as well as a week of prospecting and mapping. Interpretation of the geophysical survey identified six areas of interest, showing potential for the structural complexities and potassic alteration that are common features of this style of porphyry copper-gold deposit. Le Mare (later renamed Recharge Resources) retained Healex Consulting of Nanaimo, British Columbia, to write a National Instrument 43-101 compliant technical report on the property. This report is available on SEDAR.

Shares issued under the agreement are subject to a four-month hold period upon issuance.

On Reload Resources

Recharge Resources is a Canadian-based mineral exploration company focused on exploring for and developing the production of high-value battery metals to create green, renewable energy to meet the demands of the growing market for electric vehicles and fuel cell vehicles.

On behalf of the Board of Directors,

David Greenway

David Greenway, CEO

For more information, please contact:

Recharge Resources Ltd.
Mr. Joel Warawa
Phone: 778-588-5473
E-mail: [email protected]
Website: recharge-ressources.com

Disclaimer for forward-looking information

Certain statements in this release are forward-looking statements, which reflect management’s expectations regarding Recharge’s intention to continue to identify potential transactions and make certain changes and applications to the business. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or intentions regarding the future. These statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they occur, what benefits Recharge will derive therefrom. These forward-looking statements reflect management’s current beliefs and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including Recharge’s inability to identify transactions with satisfactory or non-satisfactory terms. and the results of exploration or examination of properties that Recharge acquires. These forward-looking statements are made as of the date of this press release, and Recharge undertakes no obligation to update these forward-looking statements, or to update the reasons why actual results differ from those projected in the forward-looking statements, except in accordance with applicable securities laws.

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