Manganese X Energy 2017 Year in Review Milestones, Solid Growth, Technical Insights, 2018 Strategies and Goals
Manganese X Energy 2017 Year in Review
Milestones, Solid Growth, Technical Insights, 2018 Strategies and Goals
Montreal, Quebec--(Newsfile Corp. - December 19, 2017) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2)
(TRADEGATE: 9SC2) (OTC Pink: SNCGF) (the "Company") is pleased to
announce
that 2017 was the year
of significant
growth for the Company encompassing project advancements at its Battery Hill
Woodstock New Brunswick property, as well as
strategic corporate financing and the building of a dynamic and experienced team to lead the Company forward.
The Company is
continuing with its
aggressive pursuit of acquiring assets to yield positive cash flows which will enable
Manganese X Energy the opportunity to finance additional projects as well as continue to develop its Battery Hill property in
2018. This will also enable the Company to potentially bring the Battery Hill project closer to fruition with the intent of supplying
value added manganese materials to the fast growing North American lithium ion battery market for electric vehicles (EV) and
other alternative energy markets.
Martin Kepman, CEO of Manganese X Energy commented, "I am extremely pleased with our progress in 2017 and proud of
each member of the Manganese X Energy Team. During the year, we remained focused in on potentially developing
Manganese X Energy assets to deliver diversified value added manganese materials to the North American Markets. I would
like to thank each and every one of our shareholders and our amazing team for their dedication and support during 2017. We
expect 2018 to be the year of significant advancement for Manganese X Energy and an elevated presence amongst our peers."
Highlights of 2017 Activities
The formation of a Technical and Marketing Advisory Board focusing on the lithium ion battery market consisting of Ms.
Jessica Dahn, Mr. Jay Richardson and Mr. Peter W. Godbehere. The objective of the Technical and Marketing Advisory
Board is to guide and assist the Company's Board of Directors and management with various opportunities related to the
use of novel technologies to produce more environmentally friendly products.
Completed initial
tranche of the previously disclosed non-brokered private placement financing (the "Financing")
consisting of 4,387,000 units ("Units") at a price of $0.15 per Unit for gross proceeds of $658,050.00 and 2,106,667 "flow-
through" shares ("FT Shares") at a price of $0.15 per FT Shares for gross proceeds of $316,000.05.
Completed the final tranche of the previously disclosed non-brokered private placement financing (the "Financing"). This
tranche consisted of 3,000,000 "flow-through" shares ("FT Shares") at a price of $0.15 per FT Shares for gross proceeds
of $450,000.00 and thus has completed the two Company's recent $1.45 million oversubscribed financing.
Dr. Luisa Moreno appointed to its Board of Directors.
Received from Kingston Process Metallurgy ("KPM") the results of the concept study and final recommendations. The
Company retained KPM with the mandate to conduct an electrolytic manganese dioxide (EMD) concept study. The
Company reviewed
the results of the concept study and investigated
a range of
technical processing options to enhance
and maximize the value added product potential of our manganese ore property located in Houlton, Woodstock, New
Brunswick, Canada
New drill results from the spring drill program on the Battery Hill Deposit at its Houlton Woodstock manganese property
located in Carleton County, 5 km NW of Woodstock, New Brunswick. The drill program consisted of 9 holes totalling 1599
meters on the Sharpe Farm and Moody Hill areas of the deposit where previous drilling in 2016 intersected MnO grades
such as 16.73% over 32.85m (107.8 feet) and 13.87% over 52.6m (172.5 feet) (news release dated Feb 14, 2017). The
Sharpe Farm and Moody Hill areas reference historical occurrences with numerous surface workings. Historical, non-NI-
43-101 compliant tonnage and grade calculations (from Sidwell, 1957) for the two occurrences are reported as 7,257,000
tons of 9% Mn and 9,071,847 tons at 9.5% Mn (such figures are quoted historical values are not compliant with CIMM or
equivalent guidelines and are not to be relied upon see Historical Occurrences
Manganese X Energy Corp. received the results from a series of diagnostic leaching tests conducted by two of Canada's
renowned process research laboratories, in its pursuit of developing a value added manganese product to furnish the
North American Li-ion battery market. The kinetics of the leaching process appeared very favourable to high levels of
manganese extraction of up to 96% with a short contact time, without the need of a reducing agent, while the solubility of
iron and other alkali metals remains low which could simplify downstream processing requirements
The commissioning of a mineral resource estimate and technical report in accordance with National Instrument NI43-101
on its Battery Hill manganese deposit by Mercator Geological Services Limited (Mercator) of Dartmouth Nova Scotia, a
geological firm with broad experience in NI-43-101 Technical Reporting and resource estimation. The project consists of
two phases, an initial technical study of Battery Hill in particular to examine Manganese's confirmation drilling programs
consisting of 25 holes totalling 5188 meters prior to preparing the Phase II mineral resource estimate and accompanying
NI 43-101 report
Manganese X Energy Corp has entered into a confidentiality agreement with the University of Minnesota
ESAF 920
contract #12655 C with the intent to further develop
state of the art manganese extraction
technologies, methodologies
and efficient cost effective innovations
Manganese X
Energy
2018 Strateg
ies and
Goals
Finance projects from upcoming (pending) asset/positive cash flow business ventures
Continue in its endeavours to pursue the development of its manganese property and to develop innovative cost effective
competitive value added manganese materials to the fast growing North American lithium ion battery market for electric
vehicles (EV) and other alternative energy markets as well as other related industries.
Pursue potential negotiations with a multi-national worldwide Company to explore future development and sales of our
value added
manganese materials to the
North American Markets
Continue with OTC application in preparation to become eligible for the depository and book-entry services of The
Depository Trust Company (DTC).
First phase of NI-43-101 project has been completed by Mercator Geological Services Limited (Mercator) of Dartmouth
Nova Scotia and anticipate expected results with recommendations in early 2018. At that time commence
recommendations on phase two of its mineral resource estimate and technical report in accordance with National
Instrument 43-101
Continue metallurgical research and
analysis with the University of Minnesota, as well
as international geological
companies, labs and the National Research Council of Canada
About Manganese X Energy
Manganese X Energy's mission is to acquire and advance high potential manganese prospects located in North America
with the intent of supplying value added materials to the lithium ion battery and other alternative energy industries as well as
the steel industry. In addition our company is striving to achieve new methodologies emanating from environmentally friendly
green/zero emissions, 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
Martin Kepman
CEO and Director
1-514-802-1814
Cautionary Note Regarding Forward-Looking Statements:
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.
This news release contains "forward-looking information" including statements with respect to the future exploration performance
of the Company. This forward-looking information involves known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Company to be materially different from any future results,
performance or achievements of the Company, expressed or implied by such forward-looking statements. These risks, as well
as others, are disclosed within the Company's filing on SEDAR, which investors are encouraged to review prior to any
transaction involving the securities of the Company. Forward-looking information contained herein is provided as of the date of
this news release and the Company disclaims any obligation, other than as required by law, to update any forward-looking
information for any reason. There can be no assurance that forward-looking information will prove to be accurate and the reader
is cautioned not to place undue reliance on such forward-looking information.