New Energy Metals Provides Corporate Update

About this update from New Energy Metals Corp.

[{"type":"text","content":"New Energy Metals Provides Corporate UpdateVancouver, British Columbia--(Newsfile Corp. - December 2, 2019) - New Energy Metals Corp. (TSXV: ENRG) (OTC PINK: NEMCF) (\"New Energy Metals\" or the \"Company\") announces that it has completed a comprehensive review of its mineral claim portfolio, including the Company's option to acquire a 70% royalty-free interest in and to certain exploration and exploitation mineral concessions (the \"Option\") comprising the Carmen, Elvira, Gran Elbita and Nevenka projects (collectively, the \"Exploradora North Project\") located in the II and III Regions of Northern Chile.Following several attempts to renegotiate the original terms of the Option with the vendors of the Exploradora North Project, the board of directors of the Company (the \"Board\") has decided to relinquish the Option. The Option was formally terminated on Friday, November 29, 2019, and the Company will not be subject to any further obligations in respect of the Exploradora North Project. At present, the Board and management of the Company are evaluating several opportunities that could build the shareholder value the Company remains committed to creating. About the CompanyNew Energy Metals is focused on the exploration and development of energy metals in Chile. The Company's assets include several prospective cobalt projects in Chile's past producing San Juan cobalt district. On behalf of New Energy Metals Corp.César López, President & CEOT: 604.484-1232E: [email protected]: www.newenergymetals.caNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Cautionary Note Regarding Forward-Looking StatementsThis news release contains forward-looking statements and forward-looking information (collectively, \"forward-looking statements\") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no a...

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