RecycLiCo Battery Materials Demonstration Plant Testing Achieves Over 99% Leach Extraction of Lithium, Nickel, Cobalt, and Manganese from Lithium-ion Battery Production Scrap

RecycLiCo Battery Materials Demonstration Plant Testing Achieves Over 99% Leach Extraction of Lithium, Nickel, Cobalt, and Manganese from Lithium-ion Battery Production Scrap

American Manganese Inc (TSXV:AMY)(OTCQB:AMYZF)(FSE:2AM) ("Company"), doing business as RecycLiCo Battery Materials, a pioneer in advanced lithium-ion battery recycling and upcycling, and its R&D partner Kemetco Research Inc. ("Kemetco"), are pleased to announce that the leach section of its technology defining demonstration plant project has achieved over 99% extraction of lithium, nickel, cobalt, and manganese from lithium-ion battery production scrap

During the demonstration plant's leach stage testing, various operating parameters were investigated to determine the optimal conditions and collect data for ongoing commercial plant design and planning. Analysis of a range of leach data showed that the successful extraction results were achieved.

"I'm thrilled with the limits we have been able to push during this pivotal step of our demonstration plant project as it is core to our patented process and a limiting factor that defines the commercial design capacity," commented Zarko Meseldzija, CTO and Director of American Manganese. "The demonstration plant's growing number of achievements provides reliable technical data for third-party due diligence and checks many boxes regarding efficiency, capacity, and practicality that engages discussions regarding bespoke commercialization plans and influences successful commercial partnerships."

To date, the demonstration plant has leached a few metric tons worth of lithium-ion battery production scrap, the primary source of recyclable materials. The scrap material comes from losses in the battery cell manufacturing process due to incompliant quality. According to Benchmark Mineral Intelligence, battery scrap will account for 78% of the pool of recyclable materials in 2025 and remain a significant recyclable source beyond 2030.

Mr. Meseldzija added, "Given the scrap's intrinsic value, it can be viewed as a resource instead of waste material, and the battery manufacturers will ultimately dictate the supply of their scrap steams. However, with the increasing value and shortage of battery materials, battery manufacturers have a stronger incentive to recycle in-house. Integrating our patented process alongside battery production scrap sources could enable battery manufacturers to build an internal closed-loop supply chain that recovers scrap materials and introduces upcycled material back into battery re-manufacturing."

About American Manganese Inc.

American Manganese Inc, doing business as RecycLiCo Battery Materials, is a battery materials company focused on recycling and upcycling lithium-ion battery waste. With minimal processing steps and up to 100% extraction of lithium, cobalt, nickel, and manganese, the patented, closed-loop hydrometallurgical process creates valuable lithium-ion battery materials for direct integration into the re-manufacturing of new lithium-ion batteries.

About Kemetco Research Inc.

Kemetco Research is a private sector integrated science, technology, and innovation company. Their Contract Sciences operation provides laboratory analysis and testing, field work, bench scale studies, pilot plant investigations, consulting services, applied research and development for both industry and government. Their clients range from start-up companies developing new technologies through to large multinational corporations with proven processes.

Kemetco provides scientific expertise in the fields of Specialty Analytical Chemistry, Chemical Process and Extractive Metallurgy. Because Kemetco carries out research in many different fields, it can offer a broader range of backgrounds and expertise than most laboratories.

For more information, please contact:
Investor Services
Telephone: 778-574-4444
Email: InvestorServices@amymn.com

www.americanmanganeseinc.com
www.recyclico.com

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. This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.

SOURCE: American Manganese Inc.



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Highlights

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Placement

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The New Shares will be issued under the Company's existing placement capacity under ASX Listing Rules 7.1. The Placement is not underwritten.

Barrenjoey Markets Pty Limited and Canaccord Genuity (Australia) Limited acted as Joint Lead Managers and Bookrunners to the Placement. Morgans Corporate Limited is acting as Co-Manager to the Placement.

Share Purchase Plan

In addition to the Placement, the Company will offer all eligible existing shareholders with a registered address in Australia or New Zealand who were holders of Lake shares at 7:00pm (AEDT) on Monday, 11 March 2024 ("Record Date") ("Eligible Shareholders"), the opportunity to apply for new Lake shares, at the same issue price and same terms and conditions as the Placement. The issue price will be $0.07 per share.

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Lake intends to apply for a waiver under ASX Listing Rule 7.1 as a consequence of the issue price of shares under the SPP being less than 80% of the 5-day VWAP prior to the date of this announcement. If the ASX does not grant this waiver, the SPP will not be exempt from the Company's placement capacity calculation, and therefore the SPP may require shareholder approval at an EGM. If so, the indicative timetable below will be affected accordingly.

To view the Indicative Timetable, please visit:
https://abnnewswire.net/lnk/QQ3Q2A63

To view the Investor Presentation, please visit:
https://www.abnnewswire.net/lnk/2YU47J1E



About Lake Resources NL:

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina among three other projects covering 220,000 ha.

This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.



Source:
Lake Resources NL

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