American Manganese Inc. (“American Manganese” or “AMI” or the “Company”), (TSX.V: AMY; OTC US: AMYZF; FSE: 2AM) wishes to correct an error in its news release dated September 13, 2016 and to clarify certain statements.
In Phase 2 testing of the Company’s proprietary hydro-metallurgical process to recycle lithium-ion batteries, precipitation tests on leached cobalt/lithium cathode material recovered up to 60% of the lithium present. The prior news release incorrectly stated the percentage as being 55%.
Moreover, the 60% figure refers only to initial single pass sequential cobalt/lithium precipitation tests. Kemetco Research Inc. expects lithium recovery of up to 90% with “lock cycle” tests (which are commonly used in potash metallurgy), whereby the recovery process is repeated multiple times. “Simply put in layman’s terms,” says Larry Reaugh, President and CEO of the Company, “you can keep repeating the cycle until you squeeze out every last bit of lithium that is possible. It’s a closed system that easily allows one to run the process again and again until almost all the desired lithium has been extracted. There will always be small losses in the system, but based on established processes, a high rate of recovery is achievable.”
About Kemetco Research Inc.
Kemetco Research Inc. is a privately owned contract research and development company specializing in extractive metallurgy, chemical processing and specialty chemical analysis. It was formed after the acquisition of the industrial process division of B.C. Research, which had been in operation for over 60 years as a research and development contractor in British Columbia.
About American Manganese Inc.
American Manganese Inc. is a diversified specialty and critical metal company focused on capitalizing on its patented intellectual property through low cost production or recovery of electrolytic manganese products throughout the world, and recycling of spent electric vehicle lithium ion rechargeable batteries.
Interest in the Company’s patented process has adjusted the focus of American Manganese Inc. toward the examination of applying its patented technology for other purposes and materials. American Manganese Inc. aims to capitalize on its patented technology and proprietary know-how to become an industry leader in the recycling of spent electric vehicle lithium ion batteries having cathode chemistries such as: Lithium-Cobalt, Lithium-Cobalt-Nickel-Manganese, and Lithium-Manganese (Please see the Company’s March 31, 2016 press release for further details).
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh
President and Chief Executive Officer