American Manganese Reports its Artillery Peak Project’s Most Significant Milestones

American Manganese Inc.(TSXV:AMY) reported on the progress of its Artillery peak project over the past 16 months. The Company discussed its most significant milestones from the project. It also announced that it is in discussion with three companies about possible strategic partnerships.

These include:

• May 17, 2012: Tetra Tech Wardrop delivered positive NI 43-101 preliminary feasibility study. Utilizing the CPM expected price forecast the IRR is 19.95%; NPV at 8% discount is $402.9 million and a payback of 4.6 years. Capital costs are $477 million and operating costs over the first 6 years are $0.956/lb at a grade of 3.13% Mn and average cost of $1.015/lb over the life of the mine (represents 16% of the total resources) at a grade of 2.46% Mn. Production of metal over the first 20 years is 999,449 tonnes (2.19 billion lbs).
• March 14, 2012: The International Bureau at the World Intellectual Property Organization based in Geneva, Switzerland published the Company’s Advanced Hydrometallurgical Process Application Patent.
• February 15, 2012: Kachan & Co reports that American Manganese’s hydrometallurgical process to be a promising means of recovering low-grade manganese.

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