Electric Metals Announces Continuity of Manganese Mineralization and Further High-Grade Intercepts up to 48.6% Mn (62.7% MnO) from Drilling at the Emily Manganese Project, Minnesota, USA

Drilling highlights from the most recent drill core assays¹:

• 33.9 metres of 17.93% Mn (23.2% MnO) from 58.2m including 5.39m of 42.5% Mn (54.9% MnO) from 62.9m
• 30.1 metres of 18.2% Mn (23.5% MnO) from 106.1m including 3.05m of 48.6% Mn (62.7% MnO) from 109.12m
• 13.0 meters of 18.9% Mn (24.4% MnO) from 119.6m 30.5 meters

These holes extend previously drilled manganese along-trend and at depth.

TORONTO, ON / ACCESSWIRE / July 13, 2023 / Electric Metals (USA) Limited ("EML" or the "Company") (TSXV:EML)(OTCQB:EMUSF) is pleased to announce recent assay results of the current drill program at the high-grade Emily Manganese Project ("Emily Project"), Minnesota, USA. The Emily Project is located in the Cuyuna Iron Range of central Minnesota, USA, an area with a rich mining history and support from established local infrastructure, a skilled mining workforce and abundant power and gas.

Results reported from the first two drill holes (refer to announcement dated 27th June 2023) included substantial thicknesses of more than 40% manganese. Data from the next four drill holes, which are summarized in this news release, confirm that similar high-grade manganese extends both along-trend and to depth.

EML is currently drill testing the deposit to provide high-grade manganese feedstock as part of an effort to determine the viability of a potential, future mine operation, and to produce chemicals for the lithium-ion battery market. The United States is 100% reliant on imported manganese, including manganese chemicals used for standard and lithium-ion batteries. EML's goal is to be able to secure approvals to process Emily manganese and provide manganese chemicals to support future growth of electric vehicle production and energy storage infrastructure.

Assay results of samples from four diamond drill holes NSM 23003, NSM 23004, NSM 23005 and NSM 23006 have been received. Each drill hole intersected intervals of high-grade manganese oxide mineralization (manganite and pyrolusite, plus iron mineralization) with manganese contents of more than 17% Mn in many of the averaged intervals. High-grade zones with more than 40% Mn are conspicuous. Data is summarized in Table 1 overleaf.

The four drill holes are located in Figure 1 and a cross section showing the geology and assayed intervals are shown in Figure 2. At this east portion of the deposit high-grade zones of plus 40% manganese extend for at least 150 meters down dip with well mineralized rock extending to at least 250 meters. Importantly, the high-grade manganese zones correlate well with high-grade manganese grades intersected in drill holes NSM 23001A and NSM 23002A (Figure 1) which were located about 100m west of the cross section in Figure 2 and returned 32.1 metres of 17.67% Mn from 106m including 5.3m of 43.18% Mn from 109.6m in NSM 23001A and 34.9 metres of 21.05% Mn from 59.9m, including 5.3m of 44.66% Mn from 66.8m in NSM 23002A. A review of these results is provided in the Company's news release dated 27^th June 2023.

Representative high-grade drill core (shown in Figure 3) is dominated by the dark grey to black manganese oxide minerals manganite (MnO(OH)) and pyrolusite (MnO2). The results continue to show that sulphides are not present in the high-grade manganese rock and importantly sulfur, copper, nickel, zinc, lead and arsenic contents are negligible.

Table 1. Average assay data for drill holes 23003, 23004, 23005 and 23006 at the Emily Manganese Project².

Drill core samples from additional, recently completed drill holes located along trend to the west of this reported drilling have been forwarded for assaying and results from these are expected during coming weeks. Drilling is continuing to step westward at approximately 100-meter collar spacing and EML expects that this stage of drill work will be completed in late July.

Figure 1. Location of drill holes NSM 23003, NSM 23004, NSM 23005 and NSM 23006 showing the project area, manganese host rock (Emily Iron Formation) and the location of cross section in Figure 2. Data for drill holes NSM 23001A and NSM 23002A were reported in a previous update.

Figure 2. Cross section A-B (refer Figure 1) showing drill hole traces of NSM 23003, NSM 23004, NSM 23005 and NSM 23006.

Figure 3. Metallic sheen on high-grade manganese oxides in drill hole NSM 23003. This interval forms a portion of a 5.39-meter-wide drill intersection (17.7 feet) between 62.88 and 68.28 meters which averaged 44.5% Mn (57.5% MnO).

EML, operating under its wholly owned Minnesotan subsidiary, North Star Manganese Inc, plans to drill approximately 30 holes in the current drill program and is anticipating completion of this stage of work in late summer 2023.

Forte Dynamics Inc, Lakewood CO have commenced evaluation of sampling procedures, drilling and assay data and will complete a resource estimate for an expanded Emily Manganese deposit when final drill results have been received. An NI43-101 Technical Report, Resource Estimate is expected to be completed in 2023.

Gary Lewis, Group CEO of Electric Metals commented on the progress at Emily: "Exploration at Emily continues to go from strength to strength as the extent of the deposit appears to grow with each drill hole completed. Our technical team continues to be impressed by the exceptional manganese grade and continuity of this unique deposit."

"And with unprecedented growth and investment in downstream battery applications, particularly in EVs, markets are finally taking notice of the importance of manganese-based cathode chemistries".

"The location and apparent continuity of the very high manganese grades at Emily, along trend and at depth, are important to help EML complete the process to assess the viability of this deposit and the opportunity to supply the domestic USA market with battery grade manganese products."

EML is also pleased to announce the launch of its new website, which can be found at www.electricmetals.com.

Qualified Person

The scientific and technical data contained in this news release was reviewed and approved by Ian James Pringle PhD, who is a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

¹ Intervals shown are drilled widths.
² Assaying undertaken by ALS (Reno, NV) included a 23-element suite (ME-XRF21). High manganese samples (>25% Mn) were re-assayed using ME ICP81.

About Electric Metals (USA) Limited

Electric Metals (USA) Limited (TSXV: EML) (OTCQB: EMUSF) is a U.S.-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, which has been the subject of considerable technical studies, including a National Instrument 43-101 Technical Report - Resource Estimate, with over US$26 million invested to date. The Company's mission in Minnesota is to become a domestic U.S. producer of high-purity, high-value manganese metal and chemical products for supply to U.S. energy, 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. In addition, the Company owns and operates the Corcoran Silver-Gold Project and the Belmont Silver Project in Nevada, with the former also having been the subject of a National Instrument 43-101 Technical Report - Resource Estimate.

Neither the 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.

For further Information please contact:
Gary Lewis, Group CEO & Director: (647) 846 5299 - gl@electricmetals.com

Caution Regarding Forward-Looking Information

Certain statements contained in this news release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on EML's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this news release contains forward-looking information relating to, among other things, the development of the Company's projects. Those assumptions and factors are based on information currently available to EML. Although such statements are based on reasonable assumptions of EML's management, there can be no assurance that any conclusions or forecasts will prove to be accurate.

While EML considers these statements to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include market risks and the demand for securities of the Company, risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global financial conditions, access and supply risks, reliance on key personnel, operational risks, and regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks.

The forward-looking information contained in this news release is made as of the date hereof, and EML is not obligated, and does not undertake, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

SOURCE: Electric Metals (USA) Limited