Manganese X Energy Corp. Announces Significant Progress and Objectives for 2024

Rhea-AI Summary

Manganese X Energy Corp. presents a comprehensive corporate review, highlighting achievements and goals for 2024. The company focuses on refining EV specifications, forming partnerships with major OEMs, and advancing battery material manufacturing. Key milestones include progress at the Kemetco Research pilot plant, synthesis of manganese sulfate samples for CAM process testing, engagement with US accredited metallurgical lab for validation analysis, and upcoming drill program and Pre-Feasibility Study at Battery Hill Deposit.

Montreal, Quebec--(Newsfile Corp. - March 27, 2024) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC) (TRADEGATE: 9SC) (OTCQB: MNXXF) (the "Company" or "Manganese X") is pleased to present its comprehensive corporate review, highlighting achievements and forthcoming goals. The company anticipates advancing each project outlined below in 2024, as it continues its mission to become the first publicly traded mining company in Canada and the US to commercialize high-purity EV-compliant manganese.

Kemetco Research Inc:

• Manganese X celebrates significant milestones in refining and upgrading EV specifications, vital for EV cathode production, at its Kemetco Research pilot plant project in Richmond, BC.
• Additional samples are in production to meet potential demand.

Update on MOU C4V

• The synthesis of manganese sulfate samples for CAM process testing marks a pivotal step in potential partnerships with major OEMs and gigafactories
• Manganese X's recent Letter of Support to C4V underscores its commitment to bolster domestic supply chains and advance battery material manufacturing.

OEM Invitation

• An invitation has been extended for participation in OEM Suppliers Days, signaling prospective partnership opportunities for suppliers

Partnerships and Offtake Agreement

• The company is focused on confirming specifications with C4V, a leading US battery technology firm, and securing binding offtake agreements.
• Invitation letters have been dispatched to prospective OEMs and cell manufacturers, inviting them to pre-test Manganese X's samples

Third Party Validation

• In pursuit of transparency and credibility, Manganese X has engaged a US accredited metallurgical lab for independent validation analysis of its battery-grade manganese sulfate (HPMSM) ensuring adherence to quality standards

Drill Program

• A permit application has been made for a 12-15 diamond drill hole program expected to commence on the Battery Hill Deposit this spring. The program is designed to upgrade key areas of near surface, high grade mineralization to the Measured and Indicated Resource status prior to commencement of our Pre-Feasibility Study..

Pre-Feasibility Study ("PFS"):

• The company plans to initiate the PFS in Q3 to expedite the development and permitting of the Battery Hill deposit, maintaining its strategy of rapid progress.

Environmental and Pre-Feasibility Related Studies:

• Ongoing environmental, social/community, and geotechnical studies will support the forthcoming pre-feasibility study. Comprehensive life cycle assessment studies will guide project development decisions and facilitate negotiations with potential partners.

Martin Kepman, CEO of Manganese X Energy Corp., remarked, "We are incredibly proud of the strides we've made and the promising outlook for our projects in 2024. Our commitment to quality, innovation, and sustainable practices positions us favorably for continued growth and success in the burgeoning EV market."

About Manganese X Energy Corp.

Manganese X's mission is to advance its Battery Hill project into production, thereby becoming the first public actively traded manganese mining company in Canada and US to commercialize EV compliant high purity manganese, potentially supplying the North American supply chain. The Company intends on supplying value-added materials to the lithium-ion battery and other alternative energy industries, as well as striving to achieve new carbon-friendly more efficient methodologies, 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.

Martin Kepman
CEO and Director
Email: martin@kepman.com
Tel: 1-514-802-1814

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.

Cautionary Note Regarding Forward-Looking Statements:

This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operations and activities of Manganese X, are forward-looking statements. Forward-looking statements in this news release relate to the Company's goals and plans for 2024, including, among other items, its pilot plant project and PFS. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Manganese X, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. These risks, as well as others, are disclosed within the Company's filings on SEDAR+, which investors are encouraged to review prior to any transaction involving the securities of the Company. Readers should not place undue reliance on the forward-looking statements. Manganese X does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/203228

FAQ

What are the key achievements highlighted in Manganese X Energy Corp.'s corporate review?

The key achievements include refining EV specifications, forming partnerships with major OEMs, advancing battery material manufacturing, progress at the Kemetco Research pilot plant, synthesis of manganese sulfate samples for CAM process testing, engagement with US accredited metallurgical lab for validation analysis, and upcoming drill program and Pre-Feasibility Study at Battery Hill Deposit.

What is the significance of the synthesis of manganese sulfate samples for CAM process testing?

The synthesis marks a pivotal step in potential partnerships with major OEMs and gigafactories, showcasing Manganese X's commitment to bolster domestic supply chains and advance battery material manufacturing.

What is the purpose of the engagement with a US accredited metallurgical lab for independent validation analysis?

The engagement aims to ensure adherence to quality standards for Manganese X's battery-grade manganese sulfate (HPMSM) through third-party validation, enhancing transparency and credibility.

What is the focus of the upcoming drill program at Battery Hill Deposit?

The drill program is designed to upgrade key areas of near-surface, high-grade mineralization to the Measured and Indicated Resource status, supporting the Pre-Feasibility Study and rapid project development.

When does Manganese X Energy Corp. plan to initiate the Pre-Feasibility Study?

The company plans to initiate the Pre-Feasibility Study in Q3 to expedite the development and permitting of the Battery Hill deposit, maintaining its strategy of rapid progress.