Manganese X Energy Corp. provides preliminary economic assessment  Battery Hill Manganese Mining Project update

Manganese X Energy Corp. has provided an update on its Battery Hill Manganese Project PEA, having recently commissioned a second market report geared mainly towards the North American markets and to be considered more accurate as it will reflect the changing market resulting from recent world events.

The report named “Market Outlook for High-Purity Manganese Products” will be produced within a few days and will be followed by the PEA in the near term. In addition to the Report’s focus on the North America market, it will include information on world markets. As a result of the Report, the PEA will be a more accurate reflection of the recent substantial price increase and will take into consideration the increase in demand for high-purity manganese products.

This Report, which assesses and computes new data applicable to economic analyses, is particularly relevant to the Company’s PEA, In addition, Wood PLC is adjusting the Company’s pit optimization to accommodate these new market demand forecasts and market pricing parameters.

Manganese X CEO Martin Kepman commented, “We are extremely excited to have the highly acclaimed Wood PLC conducting our PEA on the Battery Hill project located near Woodstock, New Brunswick, and we are also working very closely with our metallurgical team at Kemetco Research Inc. We anticipate this technical study will validate our new cost-saving metallurgical processes to economically produce a competitive, safe, sustainable, high grade, EV compliant manganese product. With the demand for the creation of a USA-Canada supply chain lessening the need for foreign imports, along with the continuing of EV and back up energy storage units utilizing manganese, we are very optimistic for the future.

He continued, “At one time, manganese was known as the “forgotten mineral” but these days, it’s certainly getting a lot of attention. The recent announcement of Stellantis’ $5 billion battery cell plant planned for Windsor, Ontario, is expected to increase interest in manganese. Also, on March 22nd, Tesla’s Elon Musk commented that there was “interesting potential for manganese”. We are all aware that Tesla has been exploring using more manganese in its battery cells.”


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