Mr. Ian Peres reports

EVSX PROVIDES CORPORATE UPDATE

St-Georges Eco-Mining Corp. is providing a corporate update from its wholly owned battery processing subsidiary, EVSX Corp., with facilities located in Thorold, Ont.

"The start of full-scale operations has been cautious and measured, with our primary goal being the development of reliable, profitable and scalable operations that derisk the business and create long-term shareholder value. Given tight operating margins across the battery recycling industry, operational efficiency and optimization are critical. We have implemented numerous upgrades to the multichemistry line to reduce downtime and lower major operating costs, including labour and utilities. We now expect to ramp up towards full-scale operations and will continue evaluation and testing to pursue further efficiency gains," stated Ian C. Peres, president and chief executive officer of EVSX.

The multichemistry line modifications have focused on high-impact processing efficiency gains to minimize operating downtime and to reduce major operating costs, such as head count/labour costs and utilities, as follows:

• A new large-scale hopper, with automatic feed to a new conveyor system and a new dual shredder, has replaced the original front-end design, delivering a tenfold increase in throughput and materially enhancing profitability and scalability;
• A series of structural modifications and other changes to accommodate the increased material throughput handling;
• All motors across the multichemistry line continue to undergo regular inspection and evaluation, with the majority of motors now replaced or upgraded to promote stable and sustainable operations.

Attracting and retaining qualified talent has been a challenge in the region; however, the company is pleased to report that a solid, committed team has been secured with additional candidates on standby as full-scale operations ramp-up. The company continues to expand and develop solid relationships with local experts and businesses that have been providing outstanding and timely support.

The company is pleased to have Call2Recycle as a respected and supportive partner in its start-up with a three-year multichemistry battery supply contract intact. Further, all necessary city zoning and environmental compliance approvals (ECAs) to process all battery chemistries remain in place.

There is a full battery inventory at the Thorold plant ready to be processed as the company ramps up operations. So far, several truckloads of batteries were processed across chemistries, representing significant tonnage.

About EVSX Corp.

EVSX operates a state-of-the-art multichemistry battery processing line, with a capacity of 10,000 metric ton per year, which efficiently sorts and fully recovers critical battery metals, aluminium, steel, copper and other materials used in batteries, and repurposes the materials downstream back into the supply chain with nothing to landfill. EVSX holds relevant regulatory permits and a three-year battery supply agreement with its primary supplier and is continually expanding its battery supply partners.

The EVSX plant is ideally situated in Thorold, Ont. (Niagara), within one of the most populated hubs for battery collection, and is centrally located covering the largest automotive cluster in North America, including Ford, General Motors and Stellantis (formerly Fiat Chrysler Automobiles).

About St-Georges Eco-Mining Corp.

St-Georges develops new technologies and holds a diversified portfolio of assets and patent-pending intellectual property within several highly prospective subsidiaries, including: EVSX, a leading North American advanced battery processing and recycling initiative; St-Georges Metallurgy, with metallurgical R&D (research and development) and related IP (intellectual property), including processing and recovering high-grade lithium from spodumene; Iceland Resources, with high-grade gold exploration projects, including the flagship Thor project; H2SX, developing technology to convert methane into solid carbon and turquoise hydrogen; and Quebec exploration projects, including the Manicouagan and Julie nickel, copper and PGE (platinum group element) critical mineral projects on Quebec's North Shore, and the Notre-Dame niobium project in Lac St-Jean.