St-Georges Inks Licensing & Development Agreement for Lithium Processing Technology
St-Georges Inks Licensing & Development Agreement
for Lithium Processing Technology
-FOR IMMEDIATE RELEASE-
Montréal, December 1 , 20 20 – St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE:
85G1) is pleased to announce that it has signed a Binding Letter of Intent with Altair International (US-
OTC: ATAO) pursuant to which St-Georges has agreed to provide access to its patent pending lithium
processing technology for lithium-in-clay mineral deposits, and also agreed to jointly develop a patentable
electric vehicle battery recycling industrial process.
In return for the access to the lithium processing technology and as part of their contr ibution in the
development of patentable intellectual property in regard to EV Battery Rec ycling, Altair wi ll iss ue
2,000,000 common shares at signature of this Binding LOI. The company will also commit to 2
subsequent share issuance of 2 million shares each, the first at the filing of a joint p atent application in
regards to the battery recy cling R&D effort and the second at the start of a n Industrial Pil ot Plant
demonstrator of the battery rec ycling process. If all milestones are completed, a total of 6 million
common shares of Altair will be issued in favor of St-Georges.
Altair will also make a total of US $300,000 cash payment s to St -Georges. A first payment of US
$150,000 on or before A pril 1 st, 2021 and a second payment of US $150,000 on or before Augu st 1 st,
2021. Both companies will contribute equally to the battery recycling research & development effort and
to the design and construction of a battery recycling industrial pilot-plant circuit in St-Georges contracted
installations in Québec.
Royalties
On Altair Nevada Lithium Project
The Parties will establish a 5% royalty stream on the commercial output of the Nevada Property for the
whole mine life period. This royalty will be transferable at the discretion of St-Georges or its successors.
It will be opposable to any successors of Altair as a lien on the mining assets. St-Georges and Altair will
negotiate a right of first refusal in favor of Altair. The royalty, to be negotiated within the guidelines of
the “Royalty Formula”, will take the form of a Net Revenue Interest or Net Revenue Return (“NRR”).
Based on the location of the lithium-in-clay mineral project of Altair, 20% of the established NRR will be
assigned to Iconic Minerals (TSX -V: IC M) based on current active agreements between the two
companies.
On the Commercial Recycling of EV Batteries
The parties will establish a mutually beneficial pa rtnership royalty stream on the commercial
implementation and output of the battery rec ycling technology. The proportionate ownership will be
transferable at the discretion of St-Georges, Altair or its successors.
The parties agreed to enter into a lon g form De finitive Agreement on or be fore Febr uary 5, 2021 .
Definitive agreement will be subject to review by regulatory authorities.
The companies e xpect to i ssue additional information in the coming weeks regarding the joint battery
recycling technology development effort.
Vilhjalmur Thor Vilhjalmsson, St-Georges’ President & CEO commented: “(…) With the continued work
of our researc h and development team, it is a great pleasure to team up with Altai r to take this process
further. The SX team has been looking at alternative methods, including using our proprietary technology
in recycling EV batteries. We can see this as a n opportunity to further b roaden the scope of our
developments and welcome the partnership. This will also enable us to fin etune the Neva da operations
already in place with Iconic Minerals over the forthcoming years (…)”
Leonard Lovallo, President of Altair, commented that “We believe that the lithium extraction and
purification processes which St-Georges has developed have the potential to reshape the economics of the
lithium mining sector, and we are incredibly excited to have partnered with them on this endeavor. As the
demand and marketplace for lithium continues to expand with the ever -increasing popularity of EV
vehicles across the globe, the scope and applications of the technologies which we are partnering with St -
Georges on will only increase.”
Lithium Processing Technology Update
St-Georges technical team is now ready to initiate work aimed at optimizing the purification process of its
lithium process and recuperation technology. The objectives are to minimize chemical losses, optimize
total process recovery and optimizing the value of the byproducts. The company also intends to validate
multiple resources and assure the selectivity of lithium recovery works on different types of resources.
Multiple initiatives will be run in parallel with the company’s strategic partners and suppliers. This effort
should lead to a complete metallurgical simulation t o size and price equip ment. St-Georges is committed
to utilizing multiple labo ratories in parallel in order to protect intellectual proprietary processes and to
accelerate IP extension.
St-Georges contractors have complete d the preparation of a spodu mene concentrate sourced fr om a
Québec based mineral resources and the company is now ready to initial leaching tests in a p ilot plant
environment. The company is expecting material recently p repared from the Bonnie Claire Proj ect in
Nevada from its partner Iconic Minerals. The company expects to run a complete pilot mining processing
circuit on reception of the material . This next development ef fort should e stablish the recuperation and
purification parameters needed specifically for that project as well as th e final tweake d chemical recipe
for the resin used to coat the lithium balls used in the last recuperation and refining stage.
ON BEHALF OF THE BOARD OF DIRECTORS
“Vilhjalmur T. Vilhjalmsson”
VILHJALMUR THOR VILHJALMSSON
President & CEO
About St-Georges
St-Georges is dev eloping new technologies to solve some of the most common environmental problems in the
mining industry. The Company controls all the active mineral tenures in Iceland. It also explores for nick el & PGEs
on the Julie Nickel Project and the Manicougan Palla dium Project on the Québec’s North Shore. Headquartered in
Montreal, St-Georges’ stock is listed on the CSE under the s ymbol 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.