Electric Metals Files NI 43-101 Preliminary Economic Assessment for the North Star Manganese Project on SEDAR+

Results Underscore Robust Economics and a U.S. Manganese Ore to HPMSM Pathway

TORONTO, ON / ACCESS Newswire / October 6, 2025 / Electric Metals (USA) Limited ("EML" or the "Company") (TSXV:EML)(OTCQB:EMUSF) announces it has filed on SEDAR+ the National Instrument 43-101 Preliminary Economic Assessment ("PEA") for its North Star Manganese Project (NSMP), a 100% domestic U.S. project, comprising a manganese mine in Emily, Minnesota, and a high-purity manganese sulfate monohydrate (HPMSM) chemical plant in the U.S. Prepared by Forte Dynamics, Inc., the PEA represents a significant milestone in the Company's strategy to deliver 100% U.S.-sourced high-purity manganese chemical and metal products to power the electrification of everything. The PEA has an effective date of August 15, 2025, and an issue date of September 30, 2025.

PEA At-a-Glance: After-tax NPV(10%) US$1.39B; IRR 43.5%; Initial CapEx US$474.8M.

The full NI 43-101 PEA is available under Electric Metals (USA) Limited on SEDAR+. This filing follows the Company's news release dated August 26, 2025, which summarized the PEA results. The filed NI 43-101 Technical Report provides the underlying assumptions, parameters, and risks that form the basis of the PEA and should be read in conjunction with that earlier disclosure.

The Indicated and Inferred Mineral Resources used in the PEA operational and financial models are presented in Table 1.

Table 1: NSM Emily Classified Mineral Resource Estimate

Foto: Accesswire

Top 10 Takeaways from the PEA

1. PEA filed on SEDAR+ (milestone achieved).

2. NSMP integrates an underground mine at Emily, Minnesota with a U.S. HPMSM chemical plant (site under evaluation).

3. Strong after-tax economics. NPV(10%) US$1.39B and IRR 43.5% at base assumptions.

4. Initial capital scoped to enable underground development, surface infrastructure, and HPMSM production, including contingencies.

5. Life-of-Mine operating expenditures itemized across mining, processing, transportation, and G&A to support HPMSM economics.

6. Indicated and Inferred Resources underpin the mine plan; further work is defined to de-risk and potentially grow the mineral inventory.

7. Underhand cut-and-fill mining method selected for geometry and selectivity.

8. Metallurgical test work supports battery-grade HPMSM; a pre-feasibility study optimization will finalize the flowsheet and unit costs.