Exploration Update & Management Reorganization
Exploration Update & Management Reorganisation
-FOR IMMEDIATE RELEASE-
Montréal, September 13, 2021 – St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE:
85G1) is pleased to provide an update on its multiple exploration initiatives currently underway on three
of its mineral projects focusing on energy metals and gold and located in Iceland and on the Québec
North-Shore.
Thor Gold Drilling Report
The first of 22 planned drill holes ranging from 125 to 500 meters in depth is underway on the Thor Gold
Project in Iceland. Drilling targets will allow for infill drilling and twin drilling of some of the historical
holes to allow a NI 4 3-101 resource estimate and for the future definition of the gold deposit . This
campaign is fully funded and should stretch over the next three months for a total of 4,060 meters.
Picture 1. Drill Rig on Thor Gold Project
The first of two core drill rigs has been moved on-site at Thor. Currently , three holes have been
completed for a total of 478 meters. As with many drill programs, the drilling at Thor has som e issues
that are being resolved.
The first hole, TH 1, was abandoned at 84 meters due to poor recovery and issues with drilling methods.
Hole 1 appeared to end in mineralization, but recoveries were very poor towards the end of the hole.
Hole TH 1B offset TH 1 by three meters and redrilled the same sequence. Although this hole was able to
reach 110 meters, the recovery remained poor through what was perceived to be the target zone at about
80 meters. Dr illing continued to 110 meters, where the core rods became stuck and suffered a complete
recovery loss. The hole was terminated in a second altered and possibly mineralized zone. The team
suspected from recent mapping and historical drilling that at least two an d possibly three zones of gold-
bearing alteration may be present as mineralized zones that are either parallel or in repeating fabric of
veins opened up along a sigmoidal curve.
Hole TH 2 has just finished at a targeted depth of 184 meters. This hole intersected two zones of
alteration with quartz-adularia veining and clay alteration. This appears to confirm the potential for
additional mineralization within the Thor trend.
Samples have been submitted to the ALS assay laboratory in Ireland, and results are awaited.
Julie Nickel Project Drilling Report
Drilling is ongoing on the Julie Project. 5 holes have been completed so far on the first drilling phase for a
total that is now exceeding 2,500 meters.
The first four holes consist of deeper holes configured to accommodate a significant down hole
geophysical effort that is to be completed in mid-September.
Hole 5, which was not part of th is effort, will need to be red rilled as Hole 5B when the Company restarts
drilling later this fall after the pause taken during the big game hunting season. The drilling encountered
problems after drilling over 500 meters of length while in a significant fault. Solutions are being studied
in order to twin drill this hole using technologies and mate rial that would s ecure the hole integrity and
allow the Company to complete drilling of its expected 650 meters plus length.
The drill rig has been moved in the vicinity of the Bastien showing located about 400 meters west-south-
west of the Julie Trench #1. The area had two Phase 2 holes planned that will be initiated today and could
be completed before the hunting season break.
Manicouagan Palladium Project Exploration Report
Surface exploration consisting of mapping , trenching, and sampling via differ ent methods, including an
important channel cutting and sampling program, is underway. Vegetation and glacial till overlying much
of the are a coupled with lack of access and a few lakes provide some extraordinary issues to overcome.
Trenching is focused on the geophysical targets first identified by aerial geophysics and then followed up
by Beep Mat on the gro und. Landing sites for the helicop ter are being prepared for each trench area.
Several of the new trenches have uncovered similar massive sulfide zones previously targeted at the Bob
Showing. These new find s will be targeted wi thin the 10,000 meters shallow drill program that is set to
start this month.
In parallel, the systematic cutting and logging of the historical cores at our contractor locations in Ville de
La Baie are ongoing. The Company expects to send a significant number of samples to the ALS labs for
analysis over the coming weeks.
Management Reorganisation
Certain concerns with manageme nt were raised as the Company dep loys its mineral processing
technology and negotiates with governments, interested third -party p otential commercial partners , and
puts in place an Annual Infor mation Form (AIF) Prospectus.
Conflicts of interest r elated to other business es and personal holdings have put Mr. Gary Johnson, a
director and long -time collaborator of St -Georges, in a particular position that nee ded to be remediated.
Mr. Johnson has resigned from his board position, and the board of St-Georges has accepted his departure
effective immediately. Gary will act as an a dvisor in the future on initiatives related to nickel-copper
metallurgical processes that are not in conflict with St-Georges’ imminent start of industrial operations.
Frank Dumas, COO and Director of S t-Georges Eco-Mining, said, “Gary’s influence on the board of
directors will be sorely missed. To date, we have kept him siloed from activities that may cause a conflict
of interest, which is not a situation that could continue ad infinitum. We look forwar d to working with
Gary on special initiatives, and he will always have a place on our team .”
A similar dynamic, together with the evolution of the new m andate of Mr. Paul Pelosi Jr. withi n EVSX,
has now required him to step do wn as an officer and director . Paul will be taking the role of
Environmental Advisor to the Board of St -Georges. As the Company ramps u p its lobbying activities in
the USA over the n ext few quarters, management believes that this change in the management an d
directorship structures will allow its main resource more freedom of operations.
Frank Dumas, COO and Director of St -Georges Eco-Mining, said, “ Paul is a tremendous asset to our
team, and we did not want to lose him due to the appearance of political infl uence. Moving him t o the
position of Environmental Advisor opens up more opportu nities to capitalize on Paul’s strengths for the
entire St-Georges operation.”
The technical information contained in this report in regard to the Julie & Manicouagan Projects
has been reviewed by Roger Ouellet. P. Geo, an independent qualified person as per NI 43-101. The
technical in formation contained in t his report in regards to Icela nd has been reviewed by Herb
Duerr, P.Geo, a qualified person as per NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
“Herb Duerr”
HERB DUERR
President & CEO
About St-Georges Eco-Mining Corp.
St-Georges is developing n ew technologies to solve s ome of the most common environmental prob lems in the mining industry.
The Company controls all the active miner al tenu res in Icel and. It also explores for nic kel on the Jul ie Nickel Project & the
Manicouagan Palladium Project on Q uebec’s North Shore . Headquartered in Montreal, St-Georges’ stock is li sted on the CSE
under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy
of the contents of this release.