Electric Metals (USA) Limited Receives Expanded Mineral Resource Estimate for the Emily Manganese Project, Minnesota. The Highest-grade Manganese Deposit in North America - Seite 2

Further details supporting the geological model and the resource model estimation procedure will be available in an NI 43‐101 Technical Report disclosing the results of the Resource Estimate which will be posted under the Company's profile at www.sedar.com within 45 days.

Brian Savage, CEO, Electric Metals, commented "We're thrilled to announce the expanded Mineral Resource Estimate for our Emily Manganese Project in Minnesota, solidifying our position as a key player in North America's manganese market. This significant increase in both Indicated and Inferred Resources underscores our dedication to maximizing the potential of the deposit. Our next objectives include conducting further drilling to progress these resources into a mineable reserve and conducting additional metallurgical testing to refine and optimize the flow sheet."

Results of the current Mineral Resource Estimate (Table 1) are as follows:

Table 1: NSM Emily Classified Mineral Resource Estimate (k metric tonnes)

Foto: Accesswire

Notes:

1. CIM Definition Standards (2014) were used for reporting the Mineral Resource Estimate.
2. The effective date of the estimate is December 31, 2023.
3. The Qualified Persons associated with this Mineral Resource Estimate are:
   • Ms. Amanda Irons, CPG & Senior Resource Geologist, Forte Dynamics,
   • Mr. Donald H. Hulse, PE & Director of Mining Resources, Forte Dynamics, and
   • Dr. Deepak Malhotra, SME-RM & Director of Metallurgy, Forte Dynamics.
4. All resources were considered potentially extractable via underground mining scenarios.
5. A three-dimensional geological model was produced in LeapFrog Geo.
6. The Emily Iron Formation (Peif) is separated into six subunits (Peif1-Peif5, and Peif1r), with zones in four subunits (Peif1-3, Peif1r) used the Resource Estimate.
7. Mineralization occurred in two domains withing Peif 1 and Peif 3 which were estimated as separate domains using 3 dimensional cutoff shells based on 10% Mn to segregate as high-grade and low-grade populations.
8. A total of 730 specific gravity measurements were taken, and specific gravity was estimated on Peif subunits, averaging 2.88 for low-grade and 3.11 for high-grade.
9. Resource estimation used a 4m x 2m x 1.5m, orthogonal, non-rotated block model using LeapFrog Edge software.
10. Grade estimates use inverse distance to the second power (ID2), within each domain.
11. Capping was applied per Peif subunit by high and low grade domains, with Peif1-1r HG at 47% Mn and 36% Fe, Peif1-1r LG at 16% Mn and 36% Fe, Peif2 at 20% Mn and 36% Fe, Peif3 HG at 30% Mn and 50% Fe, and Peif3 LG at 16% Mn and 50% Fe.
12. For the high-grade combined Mn domains, a distance limit of 80 meters was used to classify indicated and inferred material. Indicated and inferred for the combined low-grade domains uses an average distance limit of 100 meters.
13. For potential economic extraction, the mineral resource reported was limited to an area with a Mn grade greater than 5% and thickness greater than 4 meters, representing the minimum thickness assumed for effective mining.
14. Manganese recovery was estimated at 95%, based on the current metallurgical tests.
15. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
16. The quantity and grade, or quality is an estimate and is rounded. Quantities may not sum due to rounding.

Figure 1 represents the recent drilling campaigns and property boundary.