Shareholders Report Updated Equity Interests in Battery Mineral Resources Corp. (Formerly Fusion Gold Ltd.)

Vancouver, British Columbia–(Newsfile Corp. – February 15, 2021) – January Vandale and David De Witt (the “Shareholders“) announce that, in connection with the previously announced qualifying transaction (as defined under Policy 2.4 of the TSXV) (the “Transaction“) of Fusion Gold Ltd. (“Fusion” or the “Company“) with Battery Mineral Resources Corp. (“Battery“), the Shareholders disposed of ownership, control and direction over an aggregate of 3,200,000 pre-Consolidation common shares in the capital of the Company (each, a “Share“) to Weston Energy, LLC, a controlling shareholder of the issuer resulting from the Transaction (the “Resulting Issuer“), requiring disclosure pursuant to the early warning requirements of applicable securities laws (the “Share Sale“). Subsequent to the Share Sale and immediately prior to the Transaction, the Company completed a consolidation of its common shares on a 2:1 basis (the “Consolidation“).

Immediately prior to completion of the Transaction and the Share Sale, Mr. De Witt owned, exercised control or direction over an aggregate of 1,015,000 Shares and Ms. Vandale owned, exercised control or direction over an aggregate of 3,035,000 Shares on a pre-Consolidation basis.

Upon completion of the Transaction, the Share Sale and the Consolidation, Mr. De Witt and Ms. Vandale own or exercise control over 207,500 Shares and 217,500 Shares, respectively, for a total of 425,000 Shares of a total of 134,376,856 issued and outstanding shares of the Resulting Issuer.

The Company understands that each of Mr. De Witt and Ms. Vandale may, from time to time and depending on market and other conditions and subject to the requirements of applicable securities laws, dispose or acquire additional Shares through market transactions, private agreements, treasury issuances, dividend reinvestment programs, exercise of options, convertible securities or otherwise (if and when granted), or may, subject to the requirements of applicable securities laws, sell all or some portion of the Shares they own or control (upon release of the securities from escrow, or otherwise in accordance with the terms of the escrow restrictions), or may continue to hold the Shares.

This news release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators, which also requires an early warning report to be filed with the applicable securities regulators containing additional information with respect to the foregoing matters. A copy of the early warning reports will be filed by Mr. De Witt and Ms. Vandale in accordance with applicable securities laws and will be available on the Company’s issuer profile on SEDAR at www.sedar.com. For further information and to obtain a copy of such report, please contact David DeWitt, Phone 604 628 1100.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/74554