Manganese X Energy Corp. Reports Key Achievements and Outlines 2024 Strategies
MANGANESE X ENERGY CORP. REPORTS KEY ACHIEVEMENTS
AND OUTLINES 2024 STRATEGIES
Montreal, Quebec – January 17, 2024 – Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC)
(TRADEGATE: 9SC) (OTCQB: MNXXF) (the “Company” or “M anganese X ”) celebrates
significant milestones in 2023, marking notable progress for the Battery Hill manganese project
near Woodstock, New Brunswick.
The Company progresses towards becoming the first publicly traded mining company in Canada
and the US to commercialize high-purity EV-compliant manganese.
Martin Kepman, CEO of Manganese X, shares his future outlook: “As we navigate the dynamic
landscape of EV investments, the Canadian government's ambitious transition plan sets a
compelling stage. The infusion of $35 billion into significant EV battery production facilities further
underscores the industry's momentum. Research firm BloombergNEF's recognition of
manganese's pivotal role in EV battery cathode chemistries affirms our strategic focus.
“Looking ahead, the anticipated shortage of high-purity manganese by 2030 places Manganese
X at the forefront. We stand poised to address this challenge, positioning ourselves as a major
supplier to the burgeoning North American EV and energy storage supply chain. This aligns
seamlessly with our commitment to drive innovation and contribute significantly to the sustainable
evolution of the electric vehicle sector.”
2024 Strategies and Goals
Pilot Plant Project
• Complete pilot plant project in Q1, validating and optimizing patent -pending technology to
ensure the most cost -efficient and effective methods are utilized in the Battery Hill pre -
feasibility study
End User Verification
• Test EV-compliant, high-purity manganese samples for North American supply chain pre -
approval
Partnerships and Offtake Agreements
• Continue with Memorandum of Understanding (“MOU”) (see news release dated January
10, 2024), confirm with C4V, a US battery technology leader, that the Company’s HPMSM
meets specifications, and secure a binding offtake agreement
• Continue ongoing negotiations with potential customers for future HPMSM production
Environmental and Pre-Feasibility Related Studies
• Continue environmental, social/community, and geotechnical studies to support the
upcoming pre-feasibility study for the Battery Hill deposit
• Complete life cycle assessment studies for environmental impact assessment to assist with
project development decisions, highlight potential areas for improvements, and form an
essential component in negotiations with potential partners
Pre-Feasibility Study (“PFS”)
• Commence PFS in Q3 for the advancement and permitting of the Battery Hill deposit,
maintaining current strategy of fast-tracking the development of the deposit
Demonstration Plant
• Work towards financing of a larger capacity demonstration/processing plant in 2025
Highlights of 2023 Activities:
MOU with C4V
• Non-binding MOU with US battery technology leader C4V signed at the end of 2023
regarding a potential offtake deal . A sample is currently being prequalified by C4V for its
Gigafactory joint ventures.
Non-Provisional Patent Filing
• Filed for non -provisional patent protection on high -purity EV manganese technology -
provides full patent protection after acceptance, as well as allows the Company to license
its technology
Pilot Plant Progress
• Distributed HPMSM samples for EV-compliant testing
Advancements at Battery Hill
• Completed su cessful drill program and initiat ed environmental studies towards the pre -
feasibility stage
Membership in IMnI
• Joined the International Manganese Institute, contributing to the promotion of high -purity
manganese in EV battery chemistries
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: [email protected]
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 2024, 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 conting encies. 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 th e
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.