Montreal, Quebec--(Newsfile Corp. - April 8, 2025) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC) (OTCQB: MNXXF) ("Manganese X" or the "Company") is pleased to announce the final results of its recently completed Battery Hill pre-feasibility manganese diamond drilling program, marking a key milestone before commencing its Pre-Feasibility Study ("PFS").
Manganese X CEO Martin Kepman said, "The Pre-Feasibility Study is a strategic step in advancing mine permitting, de-risking the project, and guiding forward planning. Our latest drill program, along with upcoming community engagement and environmental and geotechnical studies, plays a key role in this process."
He added, "Given Canada's recent focus on sourcing its own critical minerals, such as manganese, the Battery Hill project is on track to accomplish this and, therefore, is positioned to play a crucial role in the North American supply chain."
Assays from 12 drill holes totaling 1,393 metres have been received, bringing total drilling at the Company's 100%-owned Battery Hill project near Woodstock, New Brunswick, to 104 drill holes totaling approximately 17,000 metres since 2016.
The program focused on infill and expansion drilling to upgrade inferred resources to measured and indicated categories, supporting the upcoming PFS. Significant resource increases are anticipated, driven by the newly discovered Moody Northwest Zone and the extended Sharpe Farm Zone, which returned mineralization up to 72.6 metres (238 ft) in core thickness.
A new National Instrument ("NI 43-101") compliant mineral resource estimate by Mercator Geosciences is underway. Figure 1 presents a drill plan map illustrating the 12 Fall 2024 drill sites at the Moody Hill and Sharpe Farm sectors, along with the previous 92 test holes.
The Company's Vice President of Exploration, Perry MacKinnon, stated, "Drilling has now defined the Battery Hill orebody with high confidence, with most resources classified as measured and indicated - an essential step for future conversion to proven and probable reserves during economic evaluation."
Drilling Results
Assays have been received from all 12 drill holes spanning 1,393 metres in the Moody Hill and Sharpe Farm sectors. The results confirm strong mineralization in key areas:
Key Highlights (See Full Results in Table 1)
SF24-96: 12.5m @ 13.62% MnO from 41.5m and 13.3m @ 14.9% MnO
SF24-98: 72.6m @ 11.29% MnO from 11m, including 42.1m @ 13.3% MnO
SF24-99: 32m @ 15.7% MnO from 5m
SF24-101: 16m @ 13% MnO from 8m, and 51.5m @ 12.57% MnO from 136m
SF24-102: 24.2m @ 9.3% MnO from 6.8m, 16.8m @ 10.89% MnO from 53.4m, and 35.6m @ 14.6% MnO from 87.2m
SF24-103: 32m @ 11.6% MnO from 27m
SF24-105: 20.2m @ 11.2% MnO from 81m
Manganese X remains committed to becoming the first publicly traded mining company in Canada and the U.S. to commercialize high-purity, EV-compliant manganese.
TABLE 1
Moody Northwest Zone
SF24-94
9.4 metres of 14.8% MnO starting at 94.8 metres.
SF24-95
No significant results. This cut off the new Moody Northwest mineralization to the south.
SF24-96
12.5 metres of 12.62% MnO starting at 41.5 metres, plus 13.3 metres of 14.92% MnO starting at 78 metres, plus 19.7 metres of 10.6% MnO starting at 106.3 metres, including 11 metres of 13.48% MnO.
SF24-97
No significant results. This cut off the new Moody Northwest mineralization to the north.
Sharpe Farm West Zone
SF24-98
72.6 metres of 11.29% MnO starting at 11 metres, including 41.2 metres of 13.3%
SF24-99
32 metres of 15.72% MnO starting at 5 metres, 10.4 metres of 9.26% MnO starting at 40.6 metres, and 28.1 metres of 9.63% MnO starting at 69.9 metres.
SF24-100
No significant intercepts. Positioned 25 m behind SF24-99
SF24-101
16 metres of 13% MnO starting at 8 metres, and 51.5 metres of 12.57% MnO starting at 136 metres.
Sharpe Farm East Zone
SF24-102
24.2 metres of 9.3% MnO starting at 6.8 metres, and 29.2 metres of 8.61% MnO starting at 41 metres, including 16.8 metres of 10.89% MnO, plus 15.6 metres of 14.6% MnO starting at 87.2 metres.
SF24-103
32 metres of 11.6% MnO starting at 5.5 metres starting at 27 metres.
SF24-104
Lost hole. No sampling
SF24-105
20.2 metres of 11.42% MnO starting at 81 metres
All drill holes were inclined at -45 degrees, with true thickness estimated at 65-80% of the reported core length.
Core logging and sampling followed industry-standard protocols, including a QA/QC program with Certified Standards, blanks, and duplicates, comprising 5% of total samples. Sample intervals averaged 2 metres.
Initial half-core samples were collected by Company personnel and sent to the Actlabs prep lab in Fredericton, New Brunswick, before being forwarded to Actlabs in Ancaster, Ontario, for XRF-Fusion Whole Rock Analysis (Code 4C). Actlabs is an accredited laboratory.
This news release has been reviewed and approved by Perry MacKinnon, P. Geo., Vice President of Exploration for Manganese X and a Qualified Person under NI 43-101 guidelines for mineral project disclosure.
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 the 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.
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 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 2025, commencement of the PFS and related studies, potentially upgrading inferred resources to measured and indicated categories, completion of a new NI 43-101 compliant mineral resource estimate, and advancement of the Battery Hill project and merits thereof. 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 contingencies. 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 the 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.
