SX:CC - EVSX Commercial Batteries Recycling & Nickel Metal Smelting Operation Update

(TheNewswire)

Montréal - TheNewswire - March 18, 2022 - St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) is pleased to provide a status update on some of itsmetallurgical development initiatives.

EVSX’s management has worked on a complete strategicreview of its research & development initiatives related tocritical minerals production and recovery. A completed hydrogenproduction strategy is being developed with synergies to St-GeorgesEco-Mining initiatives and opportunities for decarbonizationinitiatives globally. In addition to the hydrogen initiative, the newstrategic plan is articulated around the creation of three centers ofexcellence: nickel, lithium, and fertilizers. These centers ofexcellence will leverage industries already in place and operatingthat can be clients and/or suppliers for EVSX. The deliverables andthe objectives of the current feasibility study have been augmented toreflect this new reality.

Battery Recycling & Metals Recovery

The initial location proposed for the Company’s firstcommercial showcase plant in Baie-Comeau has been eliminated. Themunicipality is working at a fast pace with management to secure anoption on two sites that will be part of the independentconsultants’ final report. These sites come in at a fraction of thecosts of the original proposed site, are better suited for the changein the portion of the process related to metal recovery, and stillallow the Company to initiate the commercial operations of its firstshowcase plant on schedule.

The Company is developing aninnovative and industry-disrupting method to produce ready-to-sellnickel ingots from the processing of any type of nickel-cadmiumbatteries.

EVSX is currently reviewing the front-end operationsthat result in the recovery of aluminum, steel, copper, and carbon,with the objective to cover operational costs at this stage, leavingthe Company with a black mass of nickel, cobalt, and cadmium for whichsize and recovery data was disclosed in a previous press releasedisseminated by the Company on January 13, 2022, and titled“ EVSX Nickel-CadmiumBattery Recycling Results”. See Press Release: https://webfiles.thecse.com/SX_Press_Release_-_January_13_2022_-_EVSX_Nickel-Cadmium_Battery_Recycling_Results.pdf?ePe2BnjG0F0iCz5fatl6jgZdBnUJt1H5

Discussions are underway to secure multi-year access tolarge quantities of nickel-cadmium batteries and work through thecurrent multi-year backlog of this type of battery currently held instorage.

The feasibility study also coverslithium-iron-phosphate (LiFePO 4 ) battery recycling and recovery. It is expected at thispoint that the original commercial showcase plant will be using asimilar process to convert these batteries into black mass. However,the recovery of these metals will be done at a separate location wherethe Company expects to deploy its lithium center of excellence.

Partners, as well as potential clients and suppliers,are in discussion with management for this initiative. Locations inSaguenay (Ville de La Baie, QC), Contrecoeur (QC), and Hamilton (ON)are being reviewed as potential sites for these operations and are notcovered by the current feasibility study.

A cost-benefit analysis for alternate locations for thenickel-cadmium operations is also being conducted by the independentfirm doing the feasibility study allowing additional flexibility forthe Company and maximizing resource deployment.

EV Batteries Recycling and MetalRecovery

No significant amount of spent EV batteries will beavailable on the market in the short term. This was stated in thepreliminary report related to the feasibility study in June 2021 andconfirmed by data obtained from various sources like aggregators,other recyclers, battery manufacturers, and carmakers over the lastten months of interaction.

The EV strategy of the Company is unchanged. TheCompany will continue to process these batteries in batches as theybecome available and process the limited quantities at its contractedpilot plant in Val-des-Sources, QC. The now fully commissioned plantshould be sufficient for the current volume available and will allowthe Company to showcase its capability to industrial partners andclients.

New Provisional Patent and IP Strategy

Four new intellectual property categories should resultin the generation of a series of new provisional patents. Some areexpected to be filed this month.

The categories cover these topics:

• Nickel-Cadmium battery regeneration;

• LiFe battery regeneration;

• Nickel recovery smelting;

• Battery carbon recovery.

Other Metallurgical ProcessesInitiatives

A series of tests of the lithium recovery process fromrefractory material like zinnwaldite is planned for the next quarter of2022. The source of the material is permitted and located in Quebec.Management believes that unlocking this source of lithium could createan interesting source of royalties for the Company in thefuture.

Spodumene concentrate is being processed at theCompany’s contracted pilot plant in Val-des-Sources, QC. Resultsfrom this initiative will be communicated to the public in the comingmonths.

The lithium-in-clay process is also being completed,with a final report expected by the end of Q2 2022.

“(…) St-Georges is still a smalloperation working within the restrictions that come with a limitedbudget (…) over the years this has forced management to be flexibleand to constantly be on the look-out for on-the-fly adjustments to itsbusiness initiates while keeping an open-minded approach topartnership. (…) we are now experiencing the benefits of this leanculture. The goal is to put a product out in the short term that willbe in high demand, like the nickel ingot expected to be produced withthe new “cold smoked” process out of the nickel-cadmium batteries(…) our centers of excellence should be seen as optimized greenurban mines, taking chemical and mineral by-products of our partnersto reduce our operational costs, generating value-added products outof garbage, and limiting transport costs and lag time. (…) Thecurrent challenges created by the world economic situation, thetransition to a decarbonized economy, the scarcity of workforce, andthe constant delays in transportation and supply chain intensiveoperations have brought the world to us (…) we’ve been configuredto shine in this context. (…)” said FrankDumas, COO of the Company.

ON BEHALF OF THE BOARD OF DIRECTORS

“FrankDumas”

FRANK DUMAS

Director & COO

About St-Georges Eco-Mining Corp.

St-Georges develops new technologies to solve some of the most common environmental problems in the mining sector, including maximizing metal recovery and full circle EVbattery recycling. The Company explores for nickel & PGEs on theJulie Nickel Project and the ManicouganPalladium Project on Quebec's North Shore and has multiple explorationprojects in Iceland, including the Thor GoldProject. Headquartered in Montreal, St-Georges' stock is listed on theCSE under the symbol SX and trades on theFrankfurt Stock Exchange under the symbol 85G1 and on the OTCQBVenture Market for early stage and developingU.S. and international companies. Companies are current in theirreporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

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