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

Dalmacia is in the southern portion of the Punitaqui area about 6 kilometers south of the Punitaqui copper processing plant. The Dalmacia target has underground mining access, partially delineated mineralized zones and is targeted as a potential new source of ore feed to the Punitaqui ore concentration plant. Highlights: At Dalmacia, a total of 6,504 meters in 33 holes have been completed and drilling continues.

New assay results include the following drillholes: DS-21-08: 102 meters ("m") grading 1.41 percent copper ("% Cu") including 78m at 1.67% Cu and 16m at 3.52% Cu; DS-21-11: 24m at 1.04% Cu including 6m at 1.95% Cu; DS-21-12: 11m at 0.82% Cu; DS-21-13: 18m at 1.61% Cu and 12m at 2.13% Cu; DS-21-14: 15m at 1.16% Cu and 9m at 1.53% Cu; DS-21-16: 8m at 5.29% Cu and 8m at 3.53% Cu. Four diamond drills in operation at Punitaqui ­ two drills at Dalmacia and two drills at Cinabrio Norte (a potential extension of the Cinabrio orebody). At San Andres, the Phase 1 program resulted in the completion of 8,156m of drilling in 38 holes.

All samples have been dispatched for analysis with assay results pending for the final six holes. An update of the 3D geological model is being completed which will be followed by a resource estimate by JDS Energy and Mining. A sample of previously published results include the following drillholes: SAS-21-03: 11m at 1.39% Cu; SAS-21-04: 16.7m at 1.37% Cu; SAS-21-14: 12.8m at 1.44% Cu; SAS-21-21: 13m at 0.96% Cu; SAS-21-27: 11m at 2.16% Cu; SAS-21-29: 16m at 1.49% Cu.

Punitaqui Copper Mine: Punitaqui is a former producing copper mine located in the Coquimbo region of Chile with an eight-plus year operating history within which up to 25 million pounds of copper in concentrate were produced annually. Punitaqui was acquired by BMR via a private placement equity financing closed on July 13, 2021. BMR began developing the project immediately by initiating a drilling program, operating and environmental permit modifications and engineering studies with the intention of restarting copper production in 2022.

Dalmacia Drill Program: The Dalmacia target is in the southern portion of the Punitaqui area about 6 kilometers south of the Punitaqui processing plant. The first drilling occurred in 1993-1994 when 49 reverse circulation ("RC") holes totaling 9,972m were completed. Historic exploration drilling at Dalmacia North has been completed at a grid spacing of 25m x 25m, and 15m x 15m at Dalmacia South.

Prior to the 2021 program, 229 drill holes (98 RC holes and 131 diamond core holes) had been drilled for a total of 53,294m. The geological setting of the Dalmacia target is different from the Cinabrio orebody which is located 20 kilometers to the north. Dalmacia is situated within a roof-pendant of volcanic rocks, with minor calcareous intercalations of Middle to Upper Jurassic age.

This volcano-sedimentary complex is intruded by younger aged granites located in a reverse fault.