Battery Mineral Resources Corp. announced encouraging drill core assay results from the ongoing 2021 exploration and infill drill program focused on extensions of the Cinabrio orebody, the Dalmacia target and San Andres targets within the Punitaqui mine complex ("Punitaqui") in Chile. Punitaqui is slated for resumption of copper concentrate production in Q4-2022.

The Cinabrio Norte target represents a potential northern extension of the main Cinabrio mine orebody, which historically was the primary source of ore feed to the Punitaqui copper ore concentration plant for eight-plus years. With the phase 1 drill programs at San Andres and Dalmacia completed, the drilling focus has shifted to Cinabrio Norte with three diamond drills in operation. The Cinabrio Norte phase 1 drill testing will follow-up on a limited number of historic drillholes that targeted the northern extension of the Cinabrio orebody.

The historic exploration drilling confirmed that the favorable targeted stratigraphic unit ("TSU") that hosts the copper mineralization within the Cinabrio orebody extends to the north. The TSU has been mapped along a north-south strike from the mine. Importantly, the Cinabrio Norte target is only 110m north of the Cinabrio underground workings on level 200m.

Historic hole CNS-20-01, drilled in 2020 by the prior operators, was drilled completely within the TSU resulting in multiple mineralized intercepts and, most importantly, confirmed the presence of TSU for over 200m of strike length with significant copper sulphide mineralization (CNS-20-01: 48m at 0.64% Cu, 3m at 0.47% Cu and 6m at 0.45% Cu). The current drilling is planned as a series of step-out holes to test the TSU 400m along strike (north-south) to a depth below surface ("down-dip") of 330m. To date, 29 holes have been completed totaling 6,192m.

Significant visual copper mineralization has been recorded in 17 of the first 29 holes. This program has been expanded to 48 holes totaling 9,000m. Complete assay results were recently received for 18 holes: CNN-21-01 to CNN-21-12 as well as CNN-22-01, 02,04, 05, 06, 07 and 09.

These initial step-out drillhole results have largely confirmed the strike extent, down- dip extent and thickness of the TSU and also verified that it hosts significant copper sulphide mineralization.