ManganeseX Energy Announces PEA Explains Positive Results and How ManganeseX Leadership Stays Bullish

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Martin Kepman, Manganese Futurist and CEO of Manganese X Energy, also commented on the unique extraction process that Project Manganese X justifies the market price premium.

Saint Laurent, May 20, 2022 (GLOBE NEWSWIRE) —

Martin Kepman – PEA, CEO of Manganese Says, is Manganese X’s most important milestone to date and will be the first listed company in Canada and the United States to commercialize high-purity electric vehicle (EV) quality compliant manganese. Become a pioneer. ..

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Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC) (OTCQB: MNXXF) (“Manganese X”, “MN”or “society”) We are very pleased to announce positive results from an independent preliminary economic assessment (“PEA”) for the fully owned Battery Hill Project (“Project”) near Woodstock, New Brunswick. PEA is an independent engineering services group with extensive experience in mining and mineral processing, Wood Canada Ltd. Created by (“Wood”).

The entire PEA report is now available in:

https://news.manganesexenergycorp.com/manganese-x-energy-announces-positive-pea-for-its-battery-hill-project-after-tax-npv-10-of-486m-us-and-irr- of-25_269363.html

PEA Highlights:

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CEO Report

Martin Kepman, CEO of Manganese X, said:

Our Battery Hill mineral resources have the potential to be the most striking manganese property in North America and have some attributes that are attractive for development and commercialization. Battery Hill has strong economics, strong value indicators, and a short payback period with relatively low capital investment.

PEA is Manganese X’s most important milestone to date and pioneer in becoming the first listed company in Canada and the United States to commercialize high-purity electric vehicle (EV) quality compliant manganese. “

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Martin Kepman of Manganese Futurist also commented on the unique extraction process that Project Manganese X justifies the market price premium.

“We are committed to developing companies beyond PEA and are currently in discussions with many stakeholders involved in battery chemistry and the EV revolution,” said Martin Kepman.

Get to know Manganese X Energy Corp.

Manganese X’s mission is to put the Battery Hill project into production with the goal of supplying value-added materials to the lithium-ion battery and other alternative energy industries. We are also striving to realize new environmentally friendly and more efficient methodologies while processing manganese at a lower competitive cost. The company is the only listed manganese company in North America that is rapidly moving towards the commercialization of manganese deposits.

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The mission of Subsidiary Disruptive Battery Corp. is to purify HVAC (heating, ventilation, air conditioning) air for cleaner and healthier air with the aim of reducing COVID-19 and other contaminants on the surface and in the air. It is to develop a delivery system. For more information, please visit the following website: www.manganesexenergycorp.com..

Download PEA report using QRCODE

Download PEA Report by ManganeseX Energy

On behalf of the board of directors

MANGANESE XENERGY CORP.

Martin Kepman

CEO and director

Email: martin@kepman.com

Tel: 1-514-802-1814

Notes on future prospects:

This press release contains certain information that may constitute “Forecast Information” under applicable Canadian province securities law. Future outlook information includes PEA’s statements related to net present value, future production, future development and commercialization, cash cost estimates, proposed mining plans and methods, cash flow forecasts, and HPMSM. Results are included, but not limited to. Recovery, permit timing and environmental assessment, ability to obtain surface rights at reasonable cost, realization of mineral resource estimates, capital and operating cost estimates, mining project and life estimates, by target time Feasibility and effectiveness of Manganese X’s unique extraction process, including the ability to obtain permits, timing and estimated future production, exploration costs, potential benefits and alternatives, and the ability to produce superior manganese products. , And suitability for use in battery manufacturing. Readers should not place undue reliance on forward-looking statements.

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Forward-looking statements include known and unknown risks, uncertainties, and other factors, and Manganese X’s actual results, performance, or outcomes are expressed or implied by forward-looking statements. It can differ significantly from future results, performance, or outcomes. PEA results are estimates and are based on some assumptions. If any of these assumptions are incorrect, the expected results can change significantly. There is no guarantee that the project will go into production. Factors that can affect results include, among others: The actual result of the development activity. Project delay; unable to raise the funds needed to complete development. General business, economic, competition, political and social uncertainties. The future price of HPMSM or the cost of the project will vary significantly and can make commercialization uneconomical. Availability of alternative manganese sources or alternatives; actual manganese recovery; economic assessment conclusions; project parameters will change as plans continue to improve. Accidents, labor disputes, availability and productivity of skilled workers, and other risks of the mining industry. Political instability, terrorism, riots or war. Obtaining government approval, required permits, or delays in completing development or construction activities. Estimates of mineral resources associated with the project may prove inaccurate for some reason. Additional but currently unexpected work may be required to reach the feasibility stage. Even if a project goes into production, there is no guarantee that the business will be profitable. Risks associated with the interpretation of Gross Metal Loyalty (“GMR”) set forth in our Option Agreement (“Option Agreement”) with Globex Mining Enterprises Inc. dated April 22, 2016. Potential challenges that we and other parties may face regarding the interpretation of GMR terms, (ii) determination of reference prices used to evaluate the metals and products produced from the project, and (iii) GMR. The stage of metal processing and production in the value chain of the deliverables in the production facility where will be paid. All of these can have a significant impact on the GMR decisions that a company pays. Option contracts are not covered. It is the result of a proceeding so far, and therefore no court or arbitrator’s investigation or decision has been made regarding the particular interpretation of the option contract.

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Manganese X has sought to identify important factors that may cause actual actions, events, or outcomes to differ materially from those described in the forward-looking statements, but the actions, events, or outcomes are expected. Estimated or intended. Forward-looking statements contained herein have been prepared as of the date of this news release, and Manganese X will use forward-looking statements as a result of new information, future events, results, etc., unless applicable. We are not obligated to update the description regarding. Securities law.

Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined by the TSX Venture Exchange) is responsible for the validity or accuracy of this release.

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