TORONTO, ON / ACCESS Newswire / February 27, 2025 / Electric Metals (USA) Limited ("EML" or the "Company") (TSXV:EML)(OTCQB:EMUSF) is proud to announce positive interim results in its Preliminary Economic Assessment (PEA) for the Emily Manganese Project in Minnesota. The PEA is a pivotal step in securing a domestic supply of high-purity manganese vital for the United States' national security, energy infrastructure, and the electrification of everything. The PEA is being conducted by Forte Dynamics, Inc. (Forte), a United States-based mining and engineering consulting firm, in accordance with US and Canadian securities requirements [1].
In May 2024, Electric Metals announced that Forte had completed an NI 43-101 compliant Mineral Resource Estimate for its Emily Manganese Project in Minnesota (Table 1), confirming it as the highest-grade manganese resource in North America (April 9, 2024).
Drill core samples from both potential ore and waste zones were sent to RESPEC Engineering, a U.S.-based laboratory, for geotechnical testing. These tests, conducted in a controlled laboratory setting, were aimed at determining the most suitable mining method and optimal stope dimensions for underground mining. The results confirmed that underground mining is the most effective approach for the future extraction of manganese minerals from the Emily manganese deposit.
Using this geotechnical data, Forte selected underhand cut-and-fill underground mining as the optimal approach. This method is frequently employed for large and small underground mining operations, principally for its ability to selectively mine higher-grade ore deposits with variable geometries and dip. The method involves mining ore in horizontal slices and subsequently filling the voids with paste or cemented backfill material to allow additional extraction. While it is a more costly technique than some alternatives, its advantages include it being extremely selective by targeting high ore extraction, low ore dilution, and the ability to reuse waste rock or tailings as backfill, thereby reducing the surface area of the operation.
Based on a 10% Mn cut-off grade, Forte completed a detailed design of two representative mining levels-an upper zone and a lower zone-using this method. By comparing the designed mineralized zones to the estimated resources on these levels, Forte determined that approximately 88% of the estimated resources are mineable and recoverable, representing about 89% of the contained manganese. Forte also reports that additional analysis may further refine these figures and improve cost-recovery-cutoff parameters.
The figures below represent an isometric view of the Emily Manganese Deposit and mine design looking northeast in cross-section and isometric view.
Figure 1: Isometric view Emily Project (looking northeast, not to scale)
Figure 2: Representative Cross Section of Emily Project (looking northeast, not to scale)
Brian Savage, CEO, Electric Metals, commented "We are very pleased with the approach and work performed by Forte on our PEA, and specifically on identifying a viable underground mining approach for the Emily manganese deposit. We are especially pleased with the ability to extract approximately 88% of the estimated resources and about 89% of the contained manganese using the overhand cut-and-fill mining method. While we are only at the PEA level of studies, we are extremely encouraged by these preliminary results."
Next Steps: Advancing Towards Feasibility Following the completion of the PEA, expected in Q2 2025, Electric Metals will advance to a Pre-Feasibility Study, further refining economic projections and optimizing mine development strategies. Additional metallurgical testing and engineering evaluations will lay the groundwork for a processing facility designed to produce battery-grade high-purity manganese sulfate monohydrate (HPMSM) and other premium manganese products, enhancing domestic supply chain security for the EV battery sector.
Qualified Person The scientific and technical data contained in this news release was reviewed and approved by Donald Hulse, a Mining Engineer and Director of Mining Resources of Forte Dynamics, Inc., who is a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Electric Metals (USA) Limited Electric Metals (USA) Limited (TSXV:EML)(OTCQB:EMUSF) is a US-based mineral development company with manganese and silver projects geared to supporting the transition to clean energy. The Company's principal asset is the Emily Manganese Project in Minnesota, the highest-grade manganese deposit in North America, which has been the subject of considerable technical studies, including National Instrument 43-101 Technical Reports - Resource Estimates. The Company's mission in Minnesota is to become a domestic US producer of high-value, high-purity manganese metal and chemical products to supply the North American electric vehicle battery, technology and industrial markets. With manganese playing a critical and prominent role in lithium-ion battery formulations, and with no current domestic supply or active mines for manganese in North America, the development of the Emily Manganese Project represents a significant opportunity for America, the State of Minnesota and for the Company's shareholders.
For further information, please contact: Electric Metals (USA) Limited Brian Savage CEO & Director (303) 656-9197
Forward-Looking Information This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions.
Such statements in this news release include, without limitation: the ability to produce battery-grade high-purity manganese sulfate monohydrate (HPMSM) and other high-grade manganese products from the Emily manganese deposit; conduct a scoping study, Preliminary Economic Assessment and Pre-Feasibility Study to evaluate the overall feasibility and design parameters; development of processing plant; other metallurgical test work, and planned or potential developments in ongoing work by Electric Metals.
These statements address future events and conditions and so involve inherent risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such risks include, but are not limited to, the failure to obtain all necessary stock exchange and regulatory approvals. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, updated conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.
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.
[1] United States Securities and Exchange Commission S-K 1300 and Canadian National Instrument 43-101.
[2] Notes associated with Table 1 were reported in the April 9, 2024 Electric Metals (USA) Limited press release.
