Electric Metals Announces Continuity of High-Grade Manganese Mineralization From Step-Out Drilling With Grades Up to 49.20% Mn (63.53% MnO) at the Emily Manganese Project, Minnesota

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Electric Metals (USA) Limited announces high-grade manganese assay results from drilling at the Emily Manganese Project in Minnesota, USA. The results show up to 49.2% Mn in individual samples and confirm the extension of high manganese grades towards the west. Step-out drilling to the west has been completed and results are expected in the coming weeks. The high-grade manganese in the eastern portion of the deposit is thinner. The current drilling program has been completed and resource estimation will be completed in late 2023.

Positive

• Assay results show up to 49.2% Mn in individual samples
• Extension of high manganese grades towards the west confirmed
• Step-out drilling to the west completed, results expected in coming weeks

Negative

• High-grade manganese in the eastern portion of the deposit is thinner
• Resource estimation to be completed in late 2023

Assay results from drilling to the west of the deposit contain some of the highest manganese grades intersected to date with up to 49.2% Mn in individual samples, including¹:

• 40.07% Mn (51.74% MnO) over 11.92 meters from 85.59 meters; and
• 39.01% Mn (50.37% MnO) over 6.86 meters from 128.7 meters

Drilling along the eastern part of the deposit also intersected high-grade manganese intervals, including:

• 34.65% Mn (44.74% MnO) over 1.52 meters from 104.55 meters; and
• 32.45% Mn (41.90% MnO) over 2.04 meters from 72.09 meters

Results from completed step-out drilling to the west are expected in coming weeks

TORONTO, ON / ACCESSWIRE / August 24, 2023 / Electric Metals (USA) Limited ("EML" or the "Company") (TSXV:EML)(OTCQB:EMUSF) is pleased to announce assay results from core drilling at the high-grade Emily Manganese Project ("Emily Project"), Minnesota, USA.

Previously reported results from the first six drill holes of the current program (refer announcements dated 27^th June 2023 and 13^th July 2023) included substantial thicknesses of more than 40% manganese. Data from the nine drill holes summarized in this news release, confirm that similar high manganese grades extend along-trend towards the west, are of comparable thickness, and are open at depth.

Drilling has intersected intervals of high-grade manganese oxide mineralization (manganite) with manganese contents of more than 35% Mn in five holes and widespread intersections with more than 40% manganese. Data is summarized in Table 1.

This drill program has shown that the high-grade manganese extends to at least 100 meters west of previous Company drilling and has yet to be closed at depth or along trend (refer drill holes 23042 and 23043, Figures 1 and 2, Table 1). Step-out drilling at approximately 100-meter drill collar spacing for approximately 800 meters has been completed to the west of holes 23042 and 23043 and assays from these thirteen holes are expected in coming weeks.

High-grade manganese in the eastern portion of the deposit is thinner (refer holes 23007, 23008 and 23013, Figure 3). This appears to be close to the eastern extent of significant manganese mineralization and drilling in the last stages of the current program has focused along the western strike of the mineralized horizons.

Five holes to the east of the deposit (23009, 23011, 23012, 23017 and 23018) did not intersect significant mineralization and these have defined the eastern extent of the deposit (Figure 1).

Representative high-grade drill core (Figure 4) is dominated by the dark grey to black manganese oxide mineral manganite (MnO(OH)). Intervals with manganese over 30% Mn are typically lower in Si02 than mineralization with less manganese. For example, typical high-grade manganese drill core (drill hole 23042, Figure 4) has 41.9% Mn and 6.74% SiO2 (sample H798558) whereas the sample immediately above this contains 27.8% Mn and 28.2% SiO2 (sample H798557). Notably, and typical of the deposit, both of these samples have negligible sulphur, lead, zinc or copper (all less than 0.01%).

Table 1. Average assay data for drill holes 23007-18, 23042 and 23043 at the Emily Manganese Project².

Figure 1. Location of drill holes 23007, 23008, 23013, 23042 and 23043 showing the project area, manganese host rock (Emily Iron Formation) and the location of cross sections in Figures 2 and 3.

Figure 2. Cross section C-D (refer Figure 1) showing drill hole traces of 23042 and 23043, with manganese contents in assayed intervals and geology.

Figure 3. Cross section A-B (refer Figure 1) showing drill hole traces of 23007, 23008 and 23013 with 2011 -2012 drill holes AC-02-11 and AC-04-12. Drill traces show manganese contents in assayed intervals.

Figure 4. Manganese oxide high-grade intersection in drill hole 23042. Sample H798558 between 131.98-133.50 meters in 23042 contains 41.9% Mn.

Drill core samples from recently completed drill holes located along trend to the west of the reported results have been forwarded for assaying and data from these are expected during coming weeks.

The current drilling program has finished, and the drill rig demobilized in early August, with a total of 4,160 meters of drilling completed. Drill core logging and sampling is continuing on site and the last drill samples are expected to be forwarded to the laboratory in early September.

Gary Lewis, Group CEO of Electric Metals commented on the progress at Emily: "We are excited to learn that the thickness and grades of manganese appears to extend, and possibly increase, as assays are reported from holes to the west of the deposit. Drilling has targeted the shallow end of the north-dipping mineralization and if the new step-out holes continue to contain high-grades like these then EML may have a substantially larger and higher-grade deposit than previously reported. We look forward to reporting on new assays as they are received from the lab."

"Although drilling of the current program has been completed and the drill rig demobilized, geologists remain on site finalizing logging and sampling and preparing an updated geology model. Resource estimation has commenced and will be completed in late 2023 when all assay results are at hand."

"With operational equipment removed, site reclamation work has commenced, with drill pads and temporary roads being reclaimed, and hydroseeding being applied in areas requiring regrowth. A substantial portion of the area already shows substantial regrowth without any assistance. During the reclamation period, environmental consultants, Barr Engineering, will continue to monitor the site activities, with periodic on-site reviews by the Minnesota Department of Natural Resources."

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.

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.

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.

SOURCE: Electric Metals (USA) Limited

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