Montreal, Quebec--(Newsfile Corp. - February 5, 2025) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC) (TRADEGATE: 9SC) (OTCQB: MNXXF) ("Manganese X" or the "Company") is proud to announce significant progress on its Battery Hill manganese project near Woodstock, New Brunswick. The Company is on track to become the first publicly traded mining company in Canada and the US to commercialize high-purity, EV-compliant manganese.
Major Milestones
CEO Martin Kepman outlined the Company's strategic vision, emphasizing a pivotal $2,000,000 investment from Mr. Eric Sprott, who has subscribed to 57,142,857 Subscription Receipts. Subject to shareholder approval of the Control Person Resolution at the February 28, 2025 AGM and the final acceptance of the TSX Venture Exchange, this investment positions Mr. Sprott as a Control Person of Manganese X.
"This investment has received widespread support from shareholders and the public," Kepman stated. "We are inspired to welcome Mr. Eric Sprott to the Manganese X family. His expertise and significant investment enhance our financial stability, accelerate progress on the upcoming pre-feasibility study (PFS), and open doors to licensing and technology opportunities."
Looking ahead, Kepman added, "The anticipated shortage of high-purity manganese by 2030 positions us as a leader in supplying North America's EV and energy storage markets. Our efforts are driving innovation and advancing the sustainable evolution of the electric vehicle industry."
2025 Strategies and Goals
Pre-Feasibility Study (PFS)
Initiate the PFS in Q2 to fast-track development and permitting of the Battery Hill deposit.
Conduct environmental, social, community, and geotechnical studies to support the PFS.
Complete life-cycle assessments to guide environmentally responsible decisions.
Continue discussions and provide updates to First Nations in the project area.
Partnerships and Offtake Agreements
Continue pre-qualification confirmations with C4V, a US battery technology leader, that HPMSM meets specifications. In connection with signed non-binding MOU and leading to potential offtake agreement.
Secure additional non-binding offtake agreements and continue discussions with potential customers.
Non-Provisional Patent Filing
- Advance to successful completion of non-provisional patent protection for high-purity manganese technology to secure licensing opportunities and full patent protection.
Pilot Plant Validation
- Complete and refine Q1 validation of patent-pending technology for cost-effective
production.
End-User Testing
- Provide high-purity manganese samples for North American supply chain pre-approval.
Demonstration Plant Financing
- Secure funding for a larger-capacity demonstration/processing plant.
2024 Highlights
MOU with C4V
- Signed a non-binding MOU with C4V for a potential offtake agreement, with samples undergoing Gigafactory prequalification. Successfully completed phase one of three pre-qualification processes.
Patent Progress
- Filed for non-provisional patent protection, paving the way for licensing opportunities.
Pilot Plant Success
- Distributed HPMSM samples for EV-compliant testing.
Battery Hill Advancements
- Completed a successful drill program and initiated environmental studies to advance the pre-feasibility stage.
By leveraging strategic partnerships, innovative technology, and sustainable practices, Manganese X is positioned to address the growing demand for high-purity manganese in North America's EV and energy storage markets.
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 2025, 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/239663
SOURCE: Manganese X Energy Corp.
