Montreal, Quebec--(Newsfile Corp. - October 30, 2026) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC) (TRADEGATE: 9SC) (OTCQB: MNXXF) ("Manganese X" or the "Company") is pleased to announce that it has entered into a collaborative research agreement dated August 18, 2026, with the National Research Council of Canada ("NRC"), E3 Lithium Ltd., NiVolt Technologies Inc., and POSCO America Corporation ("POSCO") to develop and demonstrate lithium-manganese-rich ("LMR") cathode materials using Canadian critical-mineral feedstocks, with Manganese X providing a 10-kilogram sample of high-purity manganese for research and testing.
High-purity manganese sulfate monohydrate ("HPMSM"), produced from Manganese X's Battery Hill manganese ore in Woodstock, New Brunswick, Canada, is being incorporated into advanced LMR cathode materials as part of a CA$632,111 collaborative Canadian research and development project led by the NRC.
The manganese deposits in the Woodstock area of New Brunswick, which include Battery Hill, collectively represent the largest manganese resource in North America.1
Kemetco Research Inc. supplied 10 kilograms of Manganese X's Battery Hill HPMSM for use in the collaborative research program. POSCO will conduct technical verification and performance assessment of the Canadian precursor and cathode materials at its R&D facilities.
The collaborative project brings together Canadian producers of manganese, lithium and nickel with the NRC's advanced cathode research capabilities and POSCO's technical validation expertise.
The NRC will integrate Canadian manganese, lithium and nickel feedstocks to produce precursor cathode active material ("pCAM"), cathode active material ("CAM") and coin cells. The resulting materials will then undergo the NRC's characterization and electrochemical performance testing, including evaluation of capacity retention and stability.
Manganese X CEO Martin Kepman stated, "Thanks to the NRC, Manganese X has the opportunity to participate in research assessing the use of Canadian critical-mineral feedstocks, including Battery Hill manganese, in lithium-manganese-rich cathode materials. The NRC was instrumental in organizing this collaborative research agreement among Manganese X, E3 Lithium, NiVolt Technologies, and POSCO."
POSCO is a major global industrial and materials organization with an expanding rechargeable-battery-materials business spanning raw materials, precursors, cathode materials and anode materials. Its battery-materials affiliate POSCO Future M has also announced development of lithium-manganese-rich cathode materials, making POSCO's technical evaluation highly relevant to the project and to the potential downstream validation of Battery Hill HPMSM.
Manganese X's contribution to the project is valued at approximately CA$116,325, while the NRC's contribution is approximately CA$155,500. The project, scheduled to be completed by March 31, 2027, is also supported through separate NRC funding arrangements applicable to eligible project participants.
LMR cathodes use a higher proportion of manganese, and less nickel and cobalt, than conventional high-nickel cathodes. POSCO Future M has announced that it has completed development of LMR cathode materials.2
An Integrated Canadian Battery Materials Supply Chain
The project is designed to demonstrate an integrated pathway from upstream Canadian critical-mineral production through midstream battery-material manufacturing:
Manganese X Energy - Battery Hill-derived high-purity manganese sulfate monohydrate; a Canadian mineral development company advancing its Battery Hill Manganese Project in New Brunswick, with the objective of producing battery-grade HPMSM for the North American battery supply chain.
E3 Lithium - Canadian battery-grade lithium carbonate; a Canadian lithium development company advancing its Clearwater Lithium Project in Alberta and focused on developing domestic lithium production and processing capabilities.
NiVolt Technologies - Canadian nickel sulfate; a Canadian battery-materials company focused on nickel processing and the development of domestic battery-material supply capabilities.
National Research Council of Canada (NRC) - LMR pCAM/CAM synthesis, materials characterization and electrochemical testing; Canada's largest federal research and development organization, providing advanced research capabilities in battery materials, chemistry and electrochemical technologies.
POSCO - Technical verification, performance assessment and industrial qualification activities; one of the world's leading industrial and battery-materials companies, with a global presence across advanced materials and battery supply chains and strong relationships with major global automotive OEMs.
The Company's proprietary HPMSM beneficiation and processing flowsheet for Battery Hill is specifically identified as Manganese X Background Intellectual Property under the agreement.
The scientific and technical information contained in this news release has been reviewed and approved by Perry MacKinnon, P. Geo., Vice President of Exploration of the Company, who is a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. As an officer of the Company, Perry MacKinnon is not independent of the Company.
1 Bryan C. Way, Geology and Geochemistry of Sedimentary Ferromanganese Ore Deposits, Woodstock, New Brunswick, Canada, M.Sc. thesis, University of New Brunswick, 2012, p. 1.
2 POSCO Newsroom, "POSCO Future M to lead entry-level and standard EV markets with LMR cathode materials," June 9, 2025, available at newsroom.posco.com.
On behalf of the Board of Directors of
MANGANESE X ENERGY CORP.
Martin Kepman
CEO and Director
Email: martin@kepman.com
Tel: 1-514-802-1814
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.
Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation. Forward-Looking Information in this news release includes, but is not limited to, information regarding: the timing, scope, funding and completion of the collaborative research program; the supply and suitability of Battery Hill-derived HPMSM for use in the program; the synthesis and testing of LMR pCAM, CAM and coin cells and the anticipated results of that testing; technical verification and performance assessment activities by POSCO; potential future commercial relationships, supply arrangements or offtake agreements; the advancement of the Battery Hill Manganese Project; and the Company's objective of becoming a supplier of battery-grade manganese products to the North American electric vehicle and energy-storage markets.
This Forward-Looking Information reflects assumptions that management considers reasonable as of the date hereof, including that each participant will perform its obligations under the collaborative research agreement and that the agreement will not be terminated or materially amended; that project funding, including funding under separate NRC arrangements, remains available; that the Company's HPMSM will be available in the required quantities and meet applicable specifications; that testing will proceed substantially as scheduled and produce reliable results capable of replication at larger scale; that the Company will have access to sufficient financing; and that there will be no material adverse change in market demand, commodity prices, trade measures or general economic and regulatory conditions.
Actual results may vary materially from the Forward-Looking Information. Material risk factors include: delay, change or early termination of the research program; withdrawal or non-performance by any participant; loss of project funding; unfavourable, inconclusive or non-reproducible testing results; coin-cell-scale results not being indicative of commercial-scale performance; the HPMSM supplied to the program having been prepared at laboratory scale and not being representative of material that could be produced at commercial scale; the Company not currently producing HPMSM on a commercial basis; the Company's materials failing to meet technical, performance or commercial requirements; LMR technology not achieving commercial adoption or being displaced by competing chemistries; no participant being obliged to enter into any future qualification, supply or offtake arrangement; the Company's ability to finance, permit and advance the Battery Hill Manganese Project, which has no producing operations; and changes in battery technology, commodity prices, foreign exchange rates and critical-mineral or trade policy. This list is not exhaustive; additional risks are described in the Company's filings under its profile on SEDAR+ at www.sedarplus.ca.
Statements concerning POSCO, POSCO Future M, the NRC, E3 Lithium and NiVolt Technologies are derived from publicly available or party-supplied information and have not been independently verified by the Company. Participation in the program is not an endorsement of the Company or its products.
Forward-Looking Information is not a guarantee of future performance and readers should not place undue reliance on it. The Forward-Looking Information contained in this news release is made as of the date hereof, and the Company undertakes no obligation to update it except as required by applicable securities laws.
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