American Manganese Inc.: Tesla's Gigafactory Sparks New Interest for Secure Lithium Ion Battery Raw Material Sources
Larry W. Reaugh, President and Chief Executive Officer of American Manganese
Inc. ("American Manganese" or the "Company"), (TSX
VENTURE:AMY)(PINKSHEETS:AMYZF)(FRANKFURT:2AM), says that: "The recent (February
26, 2014) announcement by Tesla Motors of the imminent construction of a Lithium
Ion Battery Gigafactory has raised the bar for electric vehicle production."
Initial production from the Gigafactory is scheduled for 2017, and full
production scheduled for 2020. At full capacity, the facility would manufacture
as many lithium ion batteries as the 2013 total world production.
Arizona, Nevada, New Mexico, and Texas are vying to host the manufacturing
facility. Arizona has been most aggressive thus far, as proposed bill 2123 in
the state legislature would legalize direct sales of Tesla electric cars within
the state. Tucson Arizona (Pima County) has submitted a formal proposal to Tesla
to become the host site. Another communication from Mohave County Economic
Development to Tesla referred to the Company's Artillery Peak Manganese Project
as an additional incentive to locate in Mohave County.
American Manganese has a patented hydrometallurgical process for the commercial
production of Electrolytic Manganese Metal (EMM), Electrolytic Manganese Dioxide
(EMD), and Chemical Manganese Dioxide (CMD) from manganese resources. EMD and
CMD are used in dry cell and rechargeable batteries.
Lithium Manganese Dioxide (LMD), or spinel, rechargeable batteries are currently
being used in the Chevy Volt and Nissan Leaf electric vehicles. The Company
successfully produced rechargeable lithium ion battery prototypes utilizing high
purity CMD from their Artillery Peak manganese resource in late 2012. CMD
eliminates the use of expensive electroplating cells and high electricity costs.
Mr. Reaugh concludes by saying that: "It is my belief that Tesla's project is
concrete evidence of the growth and viability of the electric car market,
resulting in greater demand for lithium ion batteries. The need for secure metal
feed stocks used to make these batteries; such as Manganese, Cobalt, Lithium,
Carbon, and others; will correspondingly increase to meet the soaring electric
About American Manganese Inc.
American Manganese Inc. is a diversified specialty and critical metal Company
focusing on potentially becoming the lowest cost producer of electrolytic
manganese products from its Arizona Manganese Project.
This release has been reviewed by Michael MacLeod, P. Eng., a qualified person
pursuant to National Instrument 43-101.
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh, President and Chief Executive Officer
The TSX-Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release. This news release may contain certain
"Forward-Looking Statements" within the meaning of Section 21E of the United
States Securities Exchange Act of 1934, as amended. All statements, other than
statements of historical fact, included herein are forward-looking statements
that involve various risks and uncertainties. There can be no assurance that
such statements will prove to be accurate, and actual results and future events
could differ materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from the Company's
expectations are disclosed in the Company's documents filed from time to time
with the TSX-Venture Exchange, the British Columbia Securities Commission and
the US Securities and Exchange Commission.
FOR FURTHER INFORMATION PLEASE CONTACT:
American Manganese Inc.
Larry W. Reaugh
President and Chief Executive Officer