Electric Metals – Engineering Cost Study Validates Commercial – Scale U.S. HPMSM Capital Cost and Establishes EMM Capital Cost for Electric Metals’ North Star Manganese Project

September 23, 2026

The more detailed FEL-1 Costing Study validates the PEA capital cost estimate for the 200,000 tpy HPMSM chemical plant and further supports the PEA economic analysis.

Electric Metals’ North Star Manganese Project would represent North America’s only fully integrated, U.S.-based, ore-to-high-purity manganese chemicals supply chain, serving critical U.S. defense and industrial markets.

The Study also estimated the cost of adding a 10,000 tpy EMM plant at the same facility. (A further assessment of an EMM plant will require an independent analysis, which has not been completed.)