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 Strategies 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
martin@kepman.com
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.
