St. Georges Eco-Mining Corp - SXOOF stock

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OTC Symbol: SXOOF | OTC Tier: OTCQB | Related ticker symbols: SCE:SX

Introduction

St-Georges develops new technologies to solve some of the most common environmental problems in the mining sector, including maximizing metal recovery results and full-circle EV battery recycling. The Company explores for nickel & PGEs on the Julie Nickel Project and the Manicouagan Palladium Project on Quebec's North Shore and has multiple exploration projects in Iceland, including the Thor Gold Project.

Headquartered in Montreal, St-Georges' stock is listed on the CSE under the symbol SX and trades on the OTCQB under the Symbol SXOOF, and on the Frankfurt Stock Exchange under the symbol 85G1.

Company Operations

St-Georges Eco-Mining Corp. creates and develops new technologies that solve a milestone of common mining sector problems, including optimizing full circle electric-vehicle (EV) battery recycling and metal recovery. It explores nickel and (PGEs) in Julie Nickel and Manicougan projects. The company achieves its exploration and production goals by focusing on its numerous acquired mineral-rich projects. Its Iceland projects include Oxnadalur, Thormodsdalur, and Vopnafjordur. Vopnafjordur is located to the northeast of Iceland and sits on approximately 598.5 square kilometers. Oxnadalur occupies roughly 1017.7 km2 and is situated in northern Iceland, where calderas contain rhyolite and low-temperature zeolite alteration.

The Julie Project

The Julie Critical and Strategic Minerals Project is located along the north shores of Quebec, the mining-friendly province, and covers approximately 3, 047 hectares. The project is suitably positioned near Baie-Comeau, the deep-sea port town, and is conveniently accessible through gravel and logging roads. The property plays a vital role in the development of the company’s battery recycling plant in Baie-Comeau.

The first mapping of the area was conducted between 1968 and 1970 by Franconi et al. (RG162, RG163, and DPV127). Julie experienced its first major exploration when SOQUEM did a substantial exploration campaign of 34,700 km2. The procedure incorporated Lake Sediment Geochemistry, airborne radiometric, and a geological survey. The first Copper and nickel deposits were later discovered here in 1996. Subsequent geological surveys and research by several institutions followed in 1998, 2000, 2001, 2002, and 2004. St. Georges privately acquired the project in 2007.

The Manicouagan Project

Also located northwest of Baie-Comeau, Manicouagan Critical and Strategic Minerals Project is composed of 115 claims covering 61 km2. The asset can easily be accessed by air through Camp Helene either from Gagnonville’s paved airstrip or Baie-Comeau.

The first geological mapping of the area was overseen by Low (1897) of the Geological Survey of Canada (GSC) on the brink of the 20^th century. The Mouchalagne Zone was discovered in 1997 via the Quebec Ministry of Natural Resources (MRNQ) mapping of the lake Vallard area. Copper, nickel, and platinum group elements (platinum, palladium, rhodium, and ruthenium) sum up the principal exploration targets of the site. A survey done in 2006 by Manicouagan Minerals Inc. indicated numerous correlative anomalies in copper, cobalt, chromium, and nickel, suggesting the presence of ultramafic rocks. St-Georges Eco-Mining acquired 100 percent of the Manicouagan Nickel-Copper-PGE project on January 27, 2020.

Le Royal Lithium

The company announced the acquisition of the Le Royal Lithium project on October 12, 2016. The trigger was pulled after due diligence. The report highlights the property included the presence of spodumene, the regional environment had the potential for larger discoveries, and most lithium present in the sample was contained in Lepidolite. It is composed of 5 mining claims and is located in Quebec.

Subsidiaries

EVSX

EVSX Corp., a wholly owned subsidiary of St-Georges Eco-Mining, develops closed-looped solutions to extract all of the value of used domestic, commercial, and electric vehicles (EV) batteries. We have developed processes that allow us to target niche battery chemistries in a profitable way.

H2SX

H2SX’s microwave plasma technology transforms organic waste, synth gas, natural gas, and other hydrocarbons into environmentally-friendly hydrogen and battery-grade carbon without the need for water. H2SX unlocks hydrogen’s real economic and environmental value.

Iceland Resources

Iceland Resources is a junior exploration company located in Iceland. With a focus on gold, silver, and energy metals, St-Georges owns multiple mineral exploration licenses in the country and an extensive database of geochemical sampling, geologic mapping and detailed drilling programs. This historic work provides immense potential for eco-mining with additional potential in geothermal operations for in-situ productions, tailings processing, and hydrothermal effluents.

Wholly-owned subsidiary, Iceland Resources EHF has secured surface and mineral rights from private landowners for the Elbow Creek Project. According to the terms of the agreement, the company has granted the landowners a 2.5% Net Smelter Return (NSR) royalties, with the option to repurchase 1.3% of it for US$1.3 million within 90 days after completing a final feasibility study on the Project. Any additional payments made to the landowners before production will be credited towards future royalty payments, except for the partial buyback option. Additionally, the company will incur a cost of US$50,000 within 60 days for access to the Project, as part of the requirements.

St-Georges Metallurgy

St-Georges Metallurgy Corp., a wholly-owned subsidiary of St-Georges Eco-Mining Corp., manages all metallurgical research and development, joint ventures, and strategic partnerships, as well as holding all mineral processing intellectual property. SXM continues to evolve new solutions to assist and disrupt conventional mining practices accomplished through a flexible approach allowing for the rapid deployment and scaling of projects.

Spin Out

The company's board of directors has given the green light to a strategic reorganization of its assets, involving a restructuring move. This plan entails distributing the common shares of its subsidiary, St-Georges Iceland Ltd., which holds full ownership of Iceland Resources EHF, to the company's shareholders. The specific share ratio for this distribution is yet to be determined, and the ultimate goal is to have St-Georges Iceland Ltd. listed on the Canadian Securities Exchange. This Spin-Out initiative will enable the company to maintain its focus on the Canadian market.

The decision to pursue this Spin-Out was driven by the company's recent achievements in demonstrating significant gold prospectivity within the Thor Project, in addition to the substantial unexplored potential for gold mineralization within the Elbow Creek Project. From the company's perspective, the Spin-Out represents the most effective approach to unlock the value associated with the Icelandic assets, particularly their gold-related potential. Upon completion, the company will retain ownership of up to 19.9% of the SX Iceland Shares that are issued and outstanding.

Company News

On June 29, 2022, the company announced the presence of several new pegmatites on its Notre-Dame Project in Québec, after three weeks of fieldwork and 75% completion of the planned surface exploration program.

The company has been making significant advancements in its battery recycling operations (Baie-Comeau plant, EU and USA potential feeder plants and partnerships) and its metallurgical efforts (lithium hydroxide production from sourced spodumene concentrate, lithium in clay technology). It has also hired website developers, branding specialists, and two media and governmental relations firms.

St-Georges Eco-Mining’s board of directors unanimously voted on April 12, 2022, to authorize EVSX, its subsidiary, to advance with its plan to recycle batteries and produce nickel ingots in Baie-Comeau, Québec 2022. The proposed plant was planned to have three circuits, each to process 200 metric tonnes per hour.

Management Team

Source .

Herb Duer, President and CEO

• 25 years of experience in base and precious metal mineral exploration.
• A member of the American Institute of Professional Geologists, Geological Society of Nevada, Arizona Geological Society, and Society of Economic Geologists.

Frank Dumas, Vice-President of Business Development

• Holds a Bachelor's degree in International Relations and a Master's degree in Public Administration.
• 15 years in the financial industry consulting for foreign governments on international administration and strategic governance.
• The current president of Dumasbancorp ULC, a corporate finance consultancy.
• Founder and President of 701 Mining, which sold all its assets to Argex Titanium in 2008.
• President of St-Georges Platinum between 2003 and 2013.

Enrico Di Cesare, Vive-President of Research and Development, CEO of EVSX

• 28 years of experience in metallurgical processing, steel production, equipment sales, and mining.
• Previously worked at GENIVAR, Severstal Steel Russia, Danieli Wean ltd, Noranda, and COO and VP Technology at Argex Mining.

Dr. Sabin Boily, Vice-President of Intellectual Property, CEO of H2SX

Thordis Bjork Sigurbjornsdottir, Iceland Resources CEO

• Adverse background in the management and directing of businesses.
• Significant knowledge and experience in financial markets and investments.
• Strong business development professional skills in Business processes and financing projects, both in Iceland and the UK.

Richard Barnett, Chief Financial Officer

• Extensive corporate experience as a CFO, Controller, and Secretary with over 20 years of accounting experience serving both private and public corporations.
• A member of the Certified General Accountants of British Columbia.
• Has worked with a myriad of companies producing oil & gas, resource & explorations, engineering, and research & development industries.

Mark Billings, Chairman of the Board of Directors

• BA in Political Science from Carleton University and MBA from Harvard Business School. Chartered Financial Analyst (CFA).
• CEO of Canamex Resouces Corp.
• Ex-director and CFO of Argex Titanium Inc.

Neha Tally, Corporate Secretary

Kristin Olafsdottir, Director

Keturah Nathe, Director

James Passin, Director

Legal Issues

Lawsuits

BWA Group PLC, “BWA”, and its subsidiary, Kings of the North Corp. on December 31, 2021, issued a claim against St-Georges Eco-Mining Corp. seeking among other things, damages of $1,500,000. The charges were aimed against the Corporation and its former CEO, alleging breach of contract, conspiracy, and various other causes of action.

St-Georges Eco-Mining Corp. responded on January 22, 2022, with a press release terming the BWA claims ‘entirely without merit and frivolous.’ The company promised to vigorously defend the claims and prosecute its claims against BWA and KOTN.

Company Environmental, Social, and Governance (ESG)

The company’s feasibility study indicated that the initial conclusion by consultants pointed to the need for an environmental ministerial authorization and exclude the project from the environmental impact evaluation and examination process (REEIE). This would in turn allow the firm to stay within its focused timeline.

The segregation strategy of the tech plant circuit gives room for scalability and easier maintenance and constrains the acid tanks' size to less than 10,000 m³. This allows for a simpler environmental permitting process.