New Age Metals Resources Receives Buy Recommendation from Fundamental Research - Video Available on Investmentpitch.com

Vancouver, British Columbia--(Newsfile Corp. - September 22, 2017) - Today's buy recommendation comes from Fundamental Research Corp. Analyst Sid Rajeev gives New Age Metals (TSXV: NAM) (OTCQB: PAWEF) (FSE: P7J1) a buy rating and a fair value estimate of $0.49 per share, a premium of 600% to the $0.07 price on September 11th, the day the report was issued. New Age Metals, previously named Pacific North West Capital, is advancing its River Valley PGM Project to a Preliminary Economic Assessment.

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The 100% owned River Valley PGM Project is located in the Sudbury Mining District, 100 kilometres east of Sudbury. It is currently Canada's largest primary undeveloped PGM deposit with Measured + Indicated resources of 91 million tonnes grading 0.84 grams per tonne combined palladium, platinum, and gold, 0.06% copper and 0.02% nickel, containing 3.9 million ounces of palladium equivalent.

The company is currently pursuing a 16,500-foot drill program to confirm and expand the newly discovered high-grade near surface resource on the northern portion of the project.

Subsequent to the Fundamental Report, the company released drill results, including a drill hole in the Dana North zone which encountered 2.45 grams per tonne palladium, platinum, and gold over 28 metres, including 7.12 grams per tonne over 3 metres, and 4.06 grams per tonne over 6 metres, with a second zone of 3.30 grams per tonne palladium, platinum, and gold over 4 metres.

HoleMeterage
(metres)
Interval
(metres)
Palladium
(gpt)
Platinum
(gpt)
Gold
(gpt)
3E
(gpt)
Copper
%
Nickel
%









T3-17-044 to 32281.770.570.112.450.110.02









Including4 to 735.321.550.267.120.150.03









Including24 to 3062.930.960.174.060.200.04









2nd zone37 to 4142.350.830.133.300.190.04

 

Harry Barr, Chairman and CEO stated: "Drill results have confirmed continued PGM mineralization in the footwall to the main River Valley contact, where the current measured and indicated resources have been proven. At present the PGM mineralization has been extended for approximately 140 metres east of the previous known mineralization into the footwall of the identified resources. PGM mineralization in the Pine Zone has now been shown to extend to at least 300 metres below surface. With continued drilling success, other new targets could extend along the 16 kilometres of strike and at depth that have not been previously explored."

Palladium has been one of the best performing commodities in recent times as prices were up 96%, from US$500 per ounce at the end of 2015, to the current price of US$980 per ounce. The U.S. imports approximately 1.38 million ounces of platinum, or 92% of its demand, and 1.92 million ounces of palladium, or 86% of its demand, every year, which indicates the importance of PGM projects in North America.

The strong increase in palladium prices has been a result of the global supply deficit, which is forecast to continue. The primary driver of this supply deficit is its use in auto catalysts, which grew at 5.3% per annum from 2010 to 2017, currently accounting for 77% of the demand in 2017.

The company also has a portfolio of five hard-rock lithium projects in Canada, which the company intends to advance through joint ventures.

The shares are trading at $0.07, well below Fundamental's fair value price of $0.49, and with 68.4 million shares outstanding, the company is capitalized at $4.8 million.

For more information please visit the company's website www.newagemetals.com, contact Harry Barr, Chairman & CEO, at 613-659-2773 or email info@newagemetals.com.

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