Electric Metals Limited Announces Grant of Deferred Share Units

WILMINGTON, DE / ACCESS Newswire / October 1, 2026 / Electric Metals (USA) Limited ("Electric Metals" or the "Company") (TSXV:EML,OTC:EMUS)(OTCQB:EMUS) announces that it has granted an aggregate of 631,630 Deferred Share Units ("DSUs") to non-executive members of its Board of Directors on September 30, 2026.

The DSUs were granted under the Company's Omnibus Equity Incentive Plan, which shareholders approved on September 4, 2025, as subsequently amended and restated to reflect compliance with applicable U.S. tax and Delaware corporate law requirements. They were granted to the Company's non-executive directors in respect of directors' fees relating to the calendar quarter ended September 30, 2026. The grant of DSUs is intended to align the interests of the Company's non-executive directors with those of its shareholders.

About Electric Metals (USA) Limited

Electric Metals (USA) Limited (TSXV:EML,OTC:EMUS)(OTCQB:EMUS) is a U.S.-domiciled critical minerals and advanced materials company developing the North Star Manganese Project to establish a fully domestic U.S. supply of high-purity manganese products for battery, defense, infrastructure, technology, and industrial markets.

The Company's principal asset is the Emily manganese deposit in Minnesota, the highest-grade manganese deposit in North America. The North Star Manganese Project is a 100% U.S. domestic project comprising a manganese mine in Emily, Minnesota, and a U.S.-based processing facility designed to produce high-purity manganese sulfate monohydrate (HPMSM) and electrolytic manganese metal (EMM). The project has been the subject of extensive technical work, including a Preliminary Economic Assessment prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Electric Metals' mission is to strengthen America's critical mineral independence by developing a secure domestic supply of high-purity manganese chemical and metal products for North American electric vehicle and energy storage batteries, defense applications, critical infrastructure, specialty alloys, advanced technologies, and industrial uses.

With manganese playing an increasingly important role in lithium-ion battery formulations and no current domestic U.S. production of manganese ore, HPMSM, or EMM, the North Star Manganese Project represents a strategic opportunity to reduce dependence on foreign supply chains and support U.S. industrial, energy, and national security priorities.

For further information, please contact:

Electric Metals (USA) Limited
Brian Savage
CEO & Director
(303) 656-9197

Forward-Looking Information

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by words such as "believes," "expects," "plans," "intends," "may," "will," "could," "estimates," "anticipates," "projects," "targets," "potential," and similar expressions, and the negative of such expressions.

Forward-looking information in this news release includes, but is not limited to, statements regarding: the Company's mission and strategy to establish a fully domestic U.S. supply of high-purity manganese sulfate monohydrate ("HPMSM"), electrolytic manganese metal ("EMM"), and other high-purity manganese chemical and metal products; the advancement, development, permitting, financing, construction, and potential future operation of the North Star Manganese Project, including associated mining and processing facilities in the United States; and the intended alignment of the interests of the Company's directors with those of shareholders through the grant of deferred share units under the Company's equity incentive plans.

Forward-looking information is based on management's reasonable assumptions, estimates, analysis, and opinions as of the date of this news release, including, without limitation, assumptions regarding: the availability of financing on reasonable terms; the receipt of required permits, approvals, and authorizations; commodity prices; exchange rates; the availability and cost of power, reagents, labor, equipment, materials, and infrastructure; and the Company's ability to execute its business strategy and advance its projects in a timely manner.

Forward-looking information involves known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. These risks include, but are not limited to: risks inherent in mineral exploration and development; risks related to permitting, engineering, construction, commissioning, ramp-up, metallurgical performance, processing, and infrastructure; inflationary pressures affecting capital and operating costs; supply chain disruptions and the availability of critical equipment and materials; changes in laws, regulations, government policies, incentives, tariffs, or programs affecting U.S.-domiciled issuers or domestic critical minerals projects and battery supply chains; the ability to secure financing on acceptable terms, offtake arrangements, strategic partnerships, or government support; commodity price and foreign exchange volatility; and general economic, market, and geopolitical conditions.

This news release references a Preliminary Economic Assessment ("PEA") for the North Star Manganese Project. Readers are cautioned that the PEA is preliminary in nature, includes Indicated and Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be classified as Mineral Reserves, and there is no certainty that the PEA will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that could cause results to differ from those anticipated, estimated, or intended. Readers are cautioned not to place undue reliance on forward-looking information.

All forward-looking information in this news release is qualified in its entirety by this cautionary statement. The Company disclaims any obligation to update or revise any forward-looking information, except as required by applicable law.

SOURCE: Electric Metals (USA) Limited