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Montréal, Québec--(Newsfile Corp. - January 14, 2021) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (OTC Pink: MNXXF) ("Manganese X" or the "Company") is pleased to announce favorable metallurgical results from the Battery Hill Phase Two program, that demonstrate even greater efficiency and improved economics.
Manganese X CEO Martin Kepman stated, "The news keeps getting better in the processing of the Battery Hill manganese ore. Recovery rates are impressive and the applied process for purification has been refined to achieve greater efficiency and improved economics. Manganese continues to be spotlighted as a greener and more ethically friendly metal that could replace cobalt. We are making excellent progress towards our goal of producing ultra high-purity battery-grade manganese products for the growing electric vehicle and energy storage sectors."
Manganese X, together with Kemetco Research Inc. ("Kemetco"), are completing the ongoing test work to develop a commercially viable flow sheet to produce battery-grade manganese products using the sustainable and ethical North American mineralization at the Battery Hill property located near Woodstock, New Brunswick, Canada.
In Phase One, using a series of bench-scale leach, purification, and crystallization processes, Kemetco successfully produced a high purity manganese sulphate product with a purity of up to 99.95%. This has been considered a transformational achievement, demonstrating the Company's Battery Hill mineralization can be compliant and suitable for battery manufacturing use in electric vehicles, energy storage systems and other high-tech applications.
Phase Two of Kemetco's overall testing consisted of the development of a more efficient, workable extraction process and flow sheet for the generation of high-grade manganese sulphate. The most recent bench-scale tests consisted of defining suitable unit operations for leach extraction, solid-liquid separation, primary purification, and crystallisation upgrading
Kemetco notes the most recent results are highly significant and very encouraging as they provide a potential route to eliminate a major step in the purification process that would result in major cost benefits as well as an increase in purification efficiency. Significant results include:
The significant achievement of an overall recovery rate of 85%;
Eliminating purification processes that will significantly reduce overall costs;
Improved purification results with extremely low levels of base and alkali metal contaminants;
Enhanced Opportunities for commercialization
Test work is continuing with Kemetco. Manganese X looks forward to the final completion and reporting related to the Phase Two program, which is expected within the next two to four weeks. Upon completion, Manganese X will expediate work programs to support the Company's planned PEA (Preliminary Economic Assessment).
The Company is also pleased to announce that it has approved the grant of 800,000 stock options to purchase common shares of the Company to consultants of the Company. The options were issued with an exercise price of $0.25 per common share. The options granted to the Company's directors and consultants have a term of three (3) years with vesting immediately. The issuance of the options is subject to all necessary approvals by the TSX Venture Exchange.
All securities issued are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation.
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Manganese's X mission is to acquire and advance high potential manganese mining prospects located in North America with the intent of supplying value added materials to the lithium ion battery and other alternative energy industries. In addition our company is striving to achieve new methodologies emanating from environmentally and geographically ethical and friendly green/zero emissions technologies, while processing manganese at a lower competitive cost. For more information visit the website at www.manganesexenergycorp.com
On behalf of the Board of Directors of
MANGANESE X ENERGY CORP.
CEO and Director
Cautionary Note Regarding Forward-Looking Statements:
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 harbor.
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