Ms. Neha Tally reports

ST-GEORGES REPORTS PROGRESS ON LITHIUM PILOT & METALLURGICAL INITIATIVES

St-Georges Eco-Mining Corp. and its wholly owned subsidiary, St-Georges Metallurgy Corp., has provided a corporate update on its lithium production pilot plant and other metallurgical initiatives.

Over the past months, the company and its partners carefully evaluated potential spodumene suppliers from across Canada. Several suitors expressed interest in providing concentrate. The consortium of partners, Coalia, LiOH Corp., and St-Georges Metallurgy Corp. (SXM), has now received a first shipment of approximately five tons of Canadian-sourced spodumene concentrate. Initial work and testing is under way, with the received material already processed through the alpha-to-beta transformation stage. Regular updates on the program's results will be provided as they become available.

" (...) The SX lithium technology will bring significant advancements to lithium metallurgy through several key improvements over traditional processes. It enables high lithium purity and recovery, reduces the quantity of residues generated, minimizes water, acid and reagent consumption, and produces valuable byproducts such as alumina and nitrogen-based fertilizers. Together, these improvements provide strong economic potential, allowing the process to operate at lower costs than Chinese alternatives. The ongoing pilot project will provide data to support a feasibility study to be initiated by March, 2027, which will include a detailed capex and opex analysis to confirm the technology's position as one of the most sustainable and cost-effective solutions in the industry (...)," commented Mathieu Boudreau, project manager at Coalia.

Other metallurgical initiatives

SXM continues to advance two nickel-focused projects, supported by grant applications submitted in collaboration with several partners, including a leading Tier 1 metallurgical process provider. Key contributors to these initiatives include Coalia and Montreal-based IGS.

In parallel, preparations are under way for the comprehensive extraction of valuable minerals through metallurgical processing of previously collected bulk samples from the Julie and Manicouagan critical minerals projects. Processing work is expected to begin before the end of the year.

Additionally, through its wholly owned subsidiary Iceland Resources Ehf, the company is collaborating with a geothermal energy producer in Iceland. Initial testing of supplied material has reported grades from approximately 67 grams per tonne AuEq (gold equivalent) to approximately 437 g/t AuEq or greater than 14 gold-equivalent ounces per ton. Over 200 kilograms of this material have been successfully imported into Canada for extraction and separation testing, which will inform continuing initiatives aimed at setting a regular operation.

Extension of warrants validity

The company also announces that it is extending the validity of certain warrants currently active with original expiry dates in November and December, 2025:

Warrants issued on Nov. 1, 2022 (2.85 million):

Original terms:   exercise price 29 cents for a period of 36 months following the closing date

New terms:  exercise price 29 cents for a period of 60 months following the closing date; new expiry date is Nov. 1, 2027

Warrants issued on Nov. 18, 2022 (3.6 million):

Original terms:  exercise price 29 cents for a period of 36 months following the closing date

New terms:  exercise price 29 cents for a period of 60 months following the closing date; new expiry date is Nov. 18, 2027

Warrants issued on Dec. 30, 2022 (five million):

Original terms:  exercise price 50 cents for a period of 36 months following the closing date

New terms:  exercise price 50 cents for a period of 60 months following the closing date; new expiry date is Dec. 30, 2027

Warrants issued on Nov. 23, 2023 (14,259,260):

Original terms:  exercise price 17.5 cents for a period of 24 months following the closing date

New terms:  exercise price 17.5 cents for a period of 60 months following the closing date; new expiry date is Nov. 23, 2028

Warrants issued on Dec. 20, 2023 (7,703,700):

Original terms:  exercise price 17.5 cents for a period of 24 months following the closing date

New terms:  exercise price 17.5 cents for a period of 60 months following the closing date; new expiry date is Dec. 20, 2028

About the lithium pilot plant partnership overview

The lithium pilot plant is designed to produce lithium nitrate and potentially lithium hydroxide, along with various byproducts generated through St-Georges' proprietary processing technology. The facility is operated by Coalia, a leading Quebec-based research centre, at its own premises. Under the current agreement, LiOH Corp., in contributing financially to the initiative and in return, holds a limited five-year exclusivity course on the technology, allowing it to collaborate in testing and to share all data generated during the pilot operations. All intellectual property and resulting data remain the property of St-Georges Metallurgy Corp. (SXM) and may be utilized by the company and its subsidiaries to build their own commercial plants; however, no additional licences will be granted to third parties while the pilot phase is active. A feasibility study, drawing from the pilot's results, is expected to be initiated before March 31, 2027. Upon completion, LiOH will have the option to extend its limited exclusivity for an additional five years if it initiates the building of a commercial plant. The feasibility results will enable SXM to design and construct a commercial-scale facility, after which new technology licences may be considered for other partners.

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 initiative; St Georges Metallurgy, with metallurgical R&D (research and development) and related IP, 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 (CSM) projects on Quebec's North Shore, and Notre-Dame niobium project in Lac St Jean.