Manganese X Energy Corp. Announces Quarterly Update
Montréal, Québec--(Newsfile Corp. - July 22, 2019) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (TRADEGATE: 9SC2) (OTC Pink: SNCGF) ("Manganese X" or the "Company") is pleased to present a quarterly review and update of our projects, goals and accomplishments. We are very encouraged and look forward moving forward on our projects listed below during the third quarter. Kemetco Research Inc:
As previously announced, Manganese X Energy in collaboration with Kemetco Research Inc. was able to produce manganese sulfate with a purity exceeding 99.6% and with very low levels of base and alkali metals. The Company and Kemetco Research Inc. are moving forward with the purification process and are currently outlining the next phase of the project aimed at producing high-purity (>99.9%) battery-grade manganese compounds for use in different types of battery chemistries (e.g. Li-ion and alkaline).We look forward in accelerating our Kemetco Research Inc. project in August due to previous scheduling commitments by Kemetco Research Inc.
Disruptive Battery Corp.
Manganese X has formed a standalone subsidiary within the parent company called Disruptive Battery Corp for the purposes of accelerating a manganese thesis as it relates to fuel cells. With the intent to advance the movement of manganese for greener power production and penetrating the EV market. Our intentions are to network and promote a manganese based solution for lithium- ion batteries. Manganese X is assessing potential participation, or possible partnership in business and academia and are pursuing various opportunities
Battery Hill Property (New Brunswick):
We are planning a fall drill program to complete a NI-43-101 resource estimate with the intention of upgrading our current classification of mineralization. The program will focus on near surface, higher grade areas of the deposit such as the Moody Hill sector
Mountain Spring Oil and Gas Limited (MSOG):
Having been advised of an extension to July 11 in acquiring their anticipated oil and gas property located in Western Canada, Manganese is awaiting news from MSOG.
This established cash bearing oil and gas property located in Western Canada has complete infrastructure on all of the existing and future production and is under a closed production contract. Manganese X presently owns 15 % of MSOG and has an option of increasing ownership with an additional 10% interest, upon MSOG completing its current acquisition and with Manganese X board approval.
The Company's strategy is to leverage the potential cash flow from dividends generated by its interest in MSOG's oil and gas production wells, to advance the Battery Hill manganese, Peter Lake copper-nickel-cobalt and Lac Aux Bouleaux (LAB) Graphite projects, as well as other potential opportunities.
Peter Lake Copper Nickel Project (Quebec):
We are pleased to announce the completion of an extensive exploration program which started May 15th. We have just completed evaluating priority surface anomalies (induced polarization (IP), copper-nickel-cobalt soil anomalies and indicated extensions of the known North and South occurrences) through detailed prospecting and geologic surveys in which several drill targets have been identified. We have applied for permits and upon acceptance of permits we will proceed with trenching and dynamiting. This initial work will be quickly followed by a significant drill program,(if results are positive)
Lac Aux Bouleaux (LAB) Graphite Property (Québec):
On July 11th 2019 Manganese X announced that it has entered into an agreement to acquire 100% beneficial interest in Lac Aux Bouleax Graphite property (LAB Graphite Property) in Quebec. The Property consists of 14 mineral claims in one contiguous block totaling 738.12 hectares near the town of Mont-Laurier, on NTS 31J05 in southern Québec. The transaction is subject to TSX approval.
Strategic Location
The LAB Graphite Property lies contiguous to the south of TIMCAL's Lac des Iles graphite mine in Quebec which has the production capacity of 25,000 tonnes of graphite annually. There are several graphite showings and past producing mines in its vicinity. Graphite is commonly found in the Grenville Province rocks throughout this region and has been commercially mined from a number of deposits located between Mount Laurier in the north to the Ottawa River in the south. The Company has completed an updated NI 43-101 technical report July 8th 2019 which describes historical exploration work on the property and will be filed on Sedar. Manganese X intends to begin an exploration program or possible JV within the next couple of months (details to follow)
The preparation of the technical information in this news release of Battery Hill, Peter Lake Cu-Ni-Co ,Lac Aux Bouleaux (LAB) Graphite Property and update of the Kemetco Research Inc metallurgical project has been reviewed and approved by Roger Dahn, P. Geo. Roger Dahn is a Qualified Person as defined by National Instrument 43-101.
Manganese's X mission is to acquire and advance high potential manganese mining prospects located in North America with the intent of supplying value added materials to the lithium ion battery and other alternative energy industries. In addition our company is striving to achieve new methodologies emanating from environmentally geographically ethical and 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 of
MANGANESE X ENERGY CORP.
Martin Kepman
CEO and Director
Email: martin@kepman.com
Tel: 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.
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