MANGANESE X ENERGY REVIEWS 2021 AND LOOKS FORWARD TO 2022
Montreal, Quebec – (Newsfile Corp. – December 30,2021) – Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC) (TRADEGATE: 9SC) (OTCQB : MNXXF) (the “Company” or “MN”) is pleased to announce that 2021 was another year of significant growth for the Company, highlighted by the advancement of its Battery Hill manganese project located near Woodstock, New Brunswick.
Martin Kepman, CEO of Manganese X states,
- The manganese metal price has increased 100% during the year and has performed very well among the minor metal sectors.
- Experts are predicting that starting next year there will be a shortage of high purity manganese. This shortage will continue and by 2030 present production will only be fifth of the projected demand.
- Manganese X Energy Corp is poised to take advantage of this situation and to become a major supplier to North American EV and back-up energy storage requirements within the near future.
Manganese X Energy 2022 Strategies and Goals
- Successfully complete the Battery Hill project PEA and fast track directly into pre-feasibility or feasibility study.
- Pursue negotiations with a multi-national company to explore future development and sales of our value-added manganese materials to the North American markets
- Continue to aggressively advance the development of its Battery Hill manganese property and the innovative, cost-effective metallurgical process developed to produce high purity manganese products to the fast-growing North American lithium-ion battery market.
- JV partner Purebiotic Air Corp anticipates application for FDA Certification of products. Development of a pilot plant is envisioned. Upgrading of the HVAC patent disbursement unit is planned.
Highlights of 2021 Activities
Wood PLC selected to implement a Preliminary Economic Assessment (PEA) on our Battery Hill Project
- The Company selected Wood PLC to complete a Preliminary Economic Assessment (PEA) on our Battery Hill project located near Woodstock, New Brunswick. The PEA will evaluate the commercial viability of producing premium, high purity manganese products for the electric vehicle (EV) and back up energy storage sectors.
- The PEA is anticipated to be completed within 60 to 90 days. All early indications are positive, and we continue to be very optimistic for outstanding results.
- Martin Kepman, CEO of Manganese X Energy, stated “the Company could become a significant world player in the high purity manganese markets. The economic study has taken longer than we initially projected, but we have worked with and allowed Wood PLC and Kemetco Research adequate time to investigate all aspects of the PEA to ensure the project’s bottom line is fully maximized”.
Released our NI-43-101 Compliant Mineral Resource Estimate, in preparation of the PEA
Manganese X Energy retained Mercator Geological Services to complete the mineral resource estimate for the Battery Hill project.
- The large mineral resource base underlines the project’s potential to sustain long-term production.
- The mineral resource estimate was prepared in accordance with the CIM Definition Standards for Mineral Resources and Mineral Reserves (2014) and identified 34.86 million tonnes of measured and indicated mineral resources grading 6.42 % Mn, plus an additional 25.91 million tonnes of inferred mineral resources grading 6.66% Mn. The mineral resource estimate utilizes a 2.5% Mn cut-off grade that reflects total operating costs having “reasonable prospects for economic extraction.”
- Sensitivity analysis of the Battery Hill deposit to cut-off grade indicates 12.25 million tonnes of Measured and Indicated mineral resources at 8.77% Mn and 10.61 million tonnes of Inferred mineral resources grading 9.05% Mn utilizing a cut-off grade of 7% Mn.
Manganese X Energy continued to improve Battery Hill processing plans for scalable and cost-effective production of high-grade battery material critical for EV / Stored Energy Markets
- The phase 3 metallurgical work by Kemetco Research Inc. has led to a state-of-the-art processing technology with significant cost reductions in the production of high-grade battery material for EV and stored energy applications. This milestone was a critical part of completing the Company’s PEA, since cost-effective metallurgical processing is a key economic component of the project.
Manganese X Energy spun out LAB graphite assets to its shareholders through a new subsidiary known as Graphano Energy Ltd. under trading symbol GEL (TSX.V).
- Graphano commenced trading on Thursday September 30, 2021. The Lac Aux Bouleaux Graphite (“LAB”) Property consists of 14 mineral claims in one contiguous block totalling 738.12 hectares near the town of Mont Laurier in southern Québec.
Manganese X Energy subsidiary and JV partner Purebiotic Air Corp received positive updated data on Virginia State University testing on an important range of pathogens and biofilm, including Covid-19
- With these new studies and earlier research re-confirming the effectiveness of the PureBiotics technologies, VSU is adding additional testing sites to its continuing study. These tests will determine how economically viable the PureBiotics formulations are in eliminating the risk of infections, with the additional benefits of providing safer, cleaner and odour-free facilities.
- In testing against a wide group of chemical disinfectants currently used in hospitals, the PureBiotics formulations proved to be from 78 to 92 per cent more effective,
- The company will soon be announcing a series of registrations, certifications, and regulatory product applications of significant interest. The company is not making any express or implied claim that it has developed a COVID-19 air management solution at this time.
About Manganese X Energy
Manganese X’s mission is to advance its Battery Hill project into production, with the intent of supplying value-added materials to the lithium-ion battery and other alternative energy industries. The Company is also striving to achieve new environment-friendly more efficient methodologies, while processing manganese at a lower competitive cost. The company is the only publicly traded manganese company in North America moving rapidly toward commercialization of a manganese deposit.
Subsidiary Disruptive Battery Corp.’s mission is to develop an HVAC (heating, ventilation and air conditioning) air purification delivery system for cleaner and healthier air, aiming to mitigate COVID-19 and other contaminants on surfaces and in the air. For more information visit the website at www.manganesexenergycorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
CEO and Director
Cautionary Note Regarding Forward-Looking Information
Neither 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.
This news release contains “forward-looking information” including statements with respect to the future exploration performance of the Company. This forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company, expressed or implied by such forward-looking statements. These risks, as well as others, are disclosed within the Company’s filing on SEDAR, which investors are encouraged to review prior to any transaction involving the securities of the Company.
Forward-looking information contained herein is provided as of the date of this news release and the Company disclaims any obligation, other than as required by law, to update any forward-looking information for any reason. There can be no assurance that forward-looking information will prove to be accurate and the reader is cautioned not to place undue reliance on such forward-looking information. We seek safe harbour.