06:20:15 EDT Fri 10 May 2024
Enter Symbol
or Name
USA
CA



Electric Metals (USA) Ltd
Symbol EML
Shares Issued 144,712,683
Close 2024-02-01 C$ 0.185
Market Cap C$ 26,771,846
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Electric Metals appoints Savage as president, CEO

2024-02-01 13:44 ET - News Release

Mr. Oliver Lennox-King reports

ELECTRIC METALS (USA) LIMITED ANNOUNCES APPOINTMENT OF CHIEF EXECUTIVE OFFICER

Electric Metals (USA) Ltd. has appointed Brian Savage to the position of president and chief executive officer, effective today. Mr. Savage replaces Gary Lewis, who has resigned all positions with the company. The board thanks Mr. Lewis for his service to the company and wishes him well in his future endeavours.

The main goal for Mr. Savage is to further the evaluation and advancement of the Emily manganese project in central Minnesota and to transition the project from a resource to an operating mine and high-purity manganese processing plant. Mr. Savage is eminently suited to this role. An American citizen and resident of Colorado, he holds an MSc in mineral economics and a BSc in mining engineering from the Colorado School of Mines.

Mr. Savage has a long history of identifying, building, transforming and growing businesses in the mining and metal industry. His most recent project has been the formation of a joint venture to restart the shipping of manganese from the Kisenge mine facility in the Democratic Republic of the Congo.

Mr. Savage has a wealth of experience in exploration, development, production and project financing. He has spent years developing mining projects in various countries, including Kazakhstan, Russia, Guinea and the Democratic Republic of the Congo, as well as a number of operations in the United States. He has worked with a large range of stakeholders, including property owners, local communities, governmental and international entities, and shareholders.

Mr. Savage stated: "I am thrilled to join Electric Metals. We believe the Emily manganese project represents the highest-grade manganese deposit in North America and offers an exciting opportunity to develop high-value high-purity manganese products for the electric vehicle and energy storage sector, filling a crucial gap in the U.S. market."

The board of Electric Metals is confident that Mr. Savage has the right experience to advance the Emily manganese deposit from a geologic, technical, economic and environmental viewpoint while maintaining a stewardship that is in the best interest of all stakeholders. During the last year, the company has expended great effort in exploration drilling with the aim to further quantify the Emily deposit. In the near future, the company expects to be able to announce an updated mineral resource and the results of the continuing metallurgical laboratory research testing of the ability of Electric Metals to produce battery-grade, high-purity manganese sulphate monohydrate (HPMSM) and other high-grade manganese products from the Emily manganese project.

About Electric Metals (USA) Ltd.

Electric Metals is a U.S.-based mineral development company with manganese and silver projects geared to supporting the transition to clean energy. The company's principal asset is the Emily manganese project in Minnesota, which has been the subject of considerable technical studies, including a National Instrument 43-101 technical report resource estimate, with over $26-million (U.S.) invested to date. The company's mission in Minnesota is to become a domestic U.S. producer of high-purity, high-value manganese metal and chemical products for supply to U.S. energy, technology and industrial markets. With manganese playing a critical and prominent role in lithium-ion battery formulations and with no current domestic supply or active mines for manganese in North America, the development of the Emily manganese project represents a significant opportunity for America, the state of Minnesota and for the company's shareholders.

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