Montréal – May 17, 2021 – St-Georges Eco-Mining Corp. (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1), an up-and-coming leader in green energy metals exploration, green technologies, and battery recycling, is pleased to provide an update on the development of the Thor Gold exploration project in Iceland and disclose some significant changes in the advancement of the proposed battery recycling plant project in Baie-Comeau.
Thor Project Development
St-Georges’ management in Iceland is pleased to report that a first batch of samples from its resampling effort should arrive in Ireland by this Friday, where they will be assayed at ALS Laboratories’ facilities. The Company has been actively planning, budgeting, and initiating permitting, for a drilling campaign that is expected to be on par with the exploration campaigns previously announced for the Company’s Québec projects. Relogging and scanning with the XRF device for additional trace element data from the historical core now in St-Georges’ possession is still underway. This work coupled with detailed geology and structural analysis will occupy our team of geologists for another month. It is expected that by the end of the field season, the team will have collected and processed more than 5,000 samples that will be assayed by ALS in Ireland.
Early results will guide the first phase of the major drilling efforts to be initiated on or around July 15, 2021.
Proposed Battery Recycling Plant Advancements
The Company received important information pertaining to the development of the proposed battery recycling plant last week. The Company received information regarding the necessity to conduct an environmental impact public hearing (Bureau d’audiences publiques sur l’environnement or BAPE) for the project. The Company is now aware that the first two phases of construction will not require public audiences. It is not expected, at this point, that it will require any form of exemptions to be obtained by the government. This represents an acceleration of the pace of the project’s future growth by a factor of years.
Consequently, the options agreements announced on April 19 must be adjusted. The activity permitting process will now solely be conducted with the local authorities. Due to these anticipated changes, further adjustments and certain representations and warranties will require additional time to complete. The parties understand that time is of the essence and both sides are working diligently to complete and execute these agreements.
Lithium Extraction Process Update
The Company had previously disclosed that it had sourced a pilot-sized industrial electrolysis unit to add to its pilot plant operation. EVSX has since found an existing pilot plant for this item with experienced personnel. The Company will pursue full-sized equipment once methodology and specifications have been developed from the pilot plant work. Over the last month, EVSX has expeditiously organized many strategic partners to fulfill the challenges of lithium recycling and production from a variety of batteries. This research is being coordinated with many organizations, with the Key Performance Indicators being divided amongst different groups based on their core strengths.
ON BEHALF OF THE BOARD OF DIRECTORS
President & CEO
St-Georges is developing new technologies to solve some of the most common environmental problems in the mining industry. The Company controls all the active mineral tenures in Iceland. It also explores for nickel & PGEs on the Julie Nickel Project and the Manicougan Palladium Project on the Québec’s North Shore. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.