South Star Battery Metals Announces Extension of Gain and Option Agreement for Graphite Project in Coosa County, Alabama

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VANCOUVER, BC, December 2, 2021 / PRNewswire / – South Star Battery Metals Corp. (“South Star” or the “Company”) (TSXV: STS) (OTCQB: STSBF), is pleased to announce that all parties have agreed to extend the exclusivity, due diligence and Term of the Agreement up to December 10e, 2021. Negotiations are progressing well and all parties look forward to making further announcements in the near term, if necessary. As previously announced (see November 3, 2021 press release), the Company has entered into a binding acquisition and option agreement (agreement) for the Ceylon Graphite Project (“Project”) in Alabama with Hexagon Energy Materials Limited (“Hexagon”) (ASX: HXG) and US Critical Minerals LLC (“USCM”), a private exploration company incorporated in United States. Under the Agreement, South Star will be entitled to win up to 75% of the Project. The transaction is subject to the final approval of the TSX Venture Exchange (the “TSXV “).

ABOUT SOUTH STAR BATTERY METALS CORP

South Star Battery Metals Corp. is a Canadian developer of battery metals projects focused on the selective acquisition and development of short-term production projects in the Americas. South Star’s Santa Cruz Graphite project, located in southern Bahia, Brazil is the first in a series of industrial metals and battery projects that will go into production. Brazil is the second largest graphite producing region in the world with over 80 years of continuous mining. Santa Cruz has surface mineralization in friable materials, and large-scale successful pilot plant tests (> 30 t) have been carried out. Test results show that about 65% of the Cg concentrate is +80 mesh with good recoveries and 95-99% Cg. With excellent infrastructure and logistics, South Star is pursuing its development plan towards production of phase 1 scheduled for the fourth quarter of 2022, pending financing. South Star trades on the TSX Venture Exchange under the symbol STS and on the OTCQB under the symbol STSBF.

South Star is committed to a corporate culture, project execution plan and safe operations that meet the highest standards of ESG principles based on transparency, stakeholder engagement , continuing education and management. For more information, please visit the company’s website at http://www.southstarbatterymetals.com.

This press release has been reviewed and approved by Richard Pearce, PE, a “Qualified Person” under National Instrument 43-101 and President and Chief Executive Officer of South Star Battery Metals.

On behalf of the Council,

Sir. Richard pearce
Chief Executive Officer

For more information, please contact:

CHF Capital Markets (RI Canada)
Cathy Hume, CEO
Telephone: +1 416-868-1079 ext 251
E-mail: [email protected]

RBMG – RB Milestone Group LLC (IR US)
Trevor Brucato, General manager
E-mail: [email protected]

Sir. Dave mcmillan
President
E-mail: [email protected]

Twitter: https://twitter.com/southstarbm
Facebook: https://www.facebook.com/southstarbatterymetals
LinkedIn: https://www.linkedin.com/company/southstarbatterymetals/
YouTube: South Star Battery Metals – YouTube

CAUTION

Neither 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 press release.

This press release and the updated technical report contain references to inferred resources. The report is preliminary in nature and includes Inferred Mineral Resources that are considered too geologically speculative for economic considerations to be applied to them that would allow them to be classified as Mineral Reserves.

FORWARD-LOOKING INFORMATION

The information contained in this document contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information based on management’s assumptions, forecasts of future results and estimates of amounts not yet determinable. All statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements”.

Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in forward-looking statements, including, without limitation: inability to secure adequate funding on a timely basis and on acceptable terms; risks associated with the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks associated with maintaining stock market quotes; risks associated with environmental regulations and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; uncertainty of profitability; risks and uncertainties associated with the interpretation of drilling results, geology, grade and continuity of mineral deposits; risks associated with the inherent uncertainty of production and cost estimates and the potential for unanticipated costs and expenses; the results of pre-feasibility and feasibility studies, and the possibility that future exploration, development or mining results may not meet the Company’s expectations; risks associated with fluctuations in commodity prices; and other risks and uncertainties relating to the outlook, properties and operations of the Company detailed elsewhere in the Company’s disclosure file. If one or more of these risks and uncertainties materialize, or if the underlying assumptions prove to be incorrect, actual results could differ materially from those described in forward-looking statements. Investors are cautioned against assigning undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company’s expectations or projections.

SOURCE South Star Battery Metals Corp.

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