RecycLiCo Battery Materials is Developing Strategic Sources of Four U.S. Government-Listed Critical Minerals

Elevation of EV Battery Supply Chain Puts Spotlight on RecycLiCo’s Rapid Development

AMY’s Critical Mineral Work Has Support from Canadian Government Agency and Two Departments of the U.S. Government

Larry W. Reaugh, President and Chief Executive Officer of RecycLiCo Battery Materials (“AMY” or the “Company”), is pleased to comment on U.S. President Joe Biden’s Executive Order (EO) directing the strengthening of critical supply chains, which specifies “high-capacity batteries, including Electric Vehicle Batteries” as one of three key technology supply chains. The Biden Administration EO also identifies “critical minerals and other… strategic materials” as a fourth critical supply chain in its own right, building on Executive Order 13953 (September 30, 2020), in which former U.S. President Donald Trump declared a critical minerals “national emergency”.   

Through its patented RecycLiCo™ EV battery recycling technology and its work for the U.S. Department of Defense/Defense Logistics Agency investigating the production of Electrolytic Manganese Metal (EMM) from the Pentagon’s low-grade Wenden (Arizona) Stockpile, AMY is developing strategic sources for four U.S.-listed Critical Minerals: lithium, cobalt, manganese and aluminum.

“With so much partisan wrangling at present, it would be easy to overlook what is now an emerging consensus bridging both political parties and both the U.S. Congress and the Executive

Branch that key tech sectors like EV Batteries – and the critical minerals needed to make them – are essential to a nation’s economy and security,” said Mr. Reaugh.

Concerning EV Battery materials in particular, AMY is presently working with the U.S. Department of Energy’s Critical Materials Institute and the Oak Ridge National Lab in a program to optimize lithium-ion battery recycling recoveries.

RecycLiCo Battery Materials’s advanced and patented lithium-ion battery cathode recycling process, RecycLiCo™, has achieved 99.7% extraction of lithium-ion battery material with its pilot plant project, and is currently researching the production of cathode precursor material, from battery scrap, that could be directly integrated into the re-manufacturing of lithium-ion batteries. The Company has also received funding from the Canadian Federal Government’s National Research Council of Canada Industrial Research Assistance Program and has been awarded the Solar Impulse Efficient Solution Label for its RecycLiCo™ solution.  “The fact that AMY’s critical minerals work is receiving support from both the Canadian Government and from the U.S. Departments of Defense and Energy underscores the confidence we have in our process and our projects,” continued Mr. Reaugh.

The electric vehicle market is expanding quickly, and both industry and governments are gearing up for an action plan to combat climate change. Automotive companies such as General Motors (NYSE: GM) announced that it wants to go fossil-fuel free by 2035 while a growing list of countries including Norway, Denmark, Netherlands and the UK plan to ban the sale of internal combustion vehicles as early as 2025.

RecycLiCo Battery Materials’s Role as a Critical Minerals Supplier
The U.S. is 100% import-dependent on manganese and there is no substitute for manganese in the production of steel. The Artillery Peak property in Arizona contains significant resources of manganese, as confirmed in the Company’s 2012 pre-feasibility report. Although the resources are low in grade, RecycLiCo Battery Materials holds a U.S. patent which can potentially be utilized for the production of Electrolytic Manganese Metal (EMM) and Electrolytic Manganese Dioxide (EMD) from low-grade manganese material.

The formal U.S. Government Critical Minerals List includes commonly used lithium-ion battery materials and RecycLiCo Battery Materials holds patents for recycling cathode materials used in lithium-ion batteries with high purity and recovery potential of lithium, nickel, cobalt, manganese, and aluminum.

About RecycLiCo Battery Materials
RecycLiCo Battery Materials is a critical metals company focused on the recycling of lithium-ion batteries with the RecycLiCo™ Patented Process. The process provides high extraction of cathode metals, such as lithium, cobalt, nickel, manganese, and aluminum at high purity, with minimal processing steps. RecycLiCo Battery Materials aims to commercialize its breakthrough RecycLiCo™ Patented Process and become an industry leader in recycling cathode materials from spent lithium-ion batteries.

On behalf of Management

RecycLiCo Battery Materials

Larry W. Reaugh
President and Chief Executive Officer

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The Toronto Stock 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 Toronto Stock Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.