Drilling Resumes at Manicouagan Critical & Strategic Minerals Project

MONTRÉAL, QC / ACCESSWIRE / March 22, 2023 / St-Georges Eco-Mining Corp. (CSE:SX)(OTCQB:SXOOF)(FSE:85G1) is pleased to provide an update on recent work accomplished and ongoing activities, including the resumption of drilling, at the Manicouagan Critical and Strategic Minerals Project.

As previously mentioned, the Company completed an 11-hole drill program for a total of 1,804 meters during the months of November and December 2022. All core has been logged, photographed, split, and sent to ALS, Chemex laboratories in Val d'Or, Quebec, for assaying and will be reported results are received.

Prior to the completion of drilling, the Company flew a detailed airborne magnetic survey over the entire land package and initiated downhole Electro-Magnetic (EM) surveys concentrated on the drill holes within the Bob mineralized zone. This survey identified additional targets within and to the south of known mineralization, suggesting the presence of a deep intrusive body. See Figure 1 below:

Figure 1: Airborne Magnetic Survey

Meteor Impact Crater

Upon completion of the close-spaced airborne magnetic survey, our contract geophysicist, Frank Fritz, was tasked with doing a full analysis on the property. During the assessment, Mr. Fritz identified unique features not previously defined (see Figure 1). The interpretation indicates a potential impact crater of astrobleme on the eastern margin of the property. This feature is oval in shape and approximately 2.6 km by 3.5 km, as defined by its overall magnetic signature and the intense central magnetic feature.

Further to this interpretation, an elongated dome feature of the rocks immediately to the west is outlined by a second less dramatic magnetic response. This feature is approximately 5 km long by 2 km wide. The interpreted dome currently contains most of the nickel-copper-cobalt-PGE targets identified by St-Georges' geologists and historically by others. Underlying and partially offset to the southwest of the dome, a possible deep intrusive is suggested as a source for the mineralized mafic rocks.

Given the aforementioned, and the Company's geologic knowledge from past work, the geologic model for the project has evolved. It is suspected that the astrobleme may be a fragment of the Manicouagan meteor. The trajectory calculated from the impact and doming was subvertical from east to west. The impact domed up the rocks to the west for over 5 km. Mineralization was injected either as part of the fragment or from depth within mafic and ultramafic sills or dikes, as identified in previous drilling. The inference of the dome is significant as it may mean that holes drilled in the past on the southern margin may have been oriented in the wrong direction, missing any near surface mineralization.

Current Activities

The camp has been open since early March, and ground EM surveys have begun. Surveys will be ongoing in the Bob area targeting the suspected intrusive body that could represent the feeder for the mineralization found along the east/west corridor identified through drilling. Additionally, an airborne EM survey will be conducted to cover all of the remaining claim blocks at Manicouagan.

The next phase of drilling is now underway. For proof of concept, it will target several high-priority targets on the property, including the magnetic high within the proposed impact crater. Other targets will include Tom, Corbeau, and Chance, as well as follow-up in the Bob area once the ground EM survey is complete.

Corporate Update

New Team Member

Mr. George M. Yordanov, a Professional Geologist, has agreed to join the team on site to manage the project, logistics, complete logging, and other field-related duties. St-Georges welcomes Mr. Yordanov to the team.

Market Awareness Campaign

The first phase of the Company's website is in final review and is expected to launch shortly. Additional improvements to the website, which will add more depth, complexity, and nuance, are concurrently underway and will be in constant evolution. Management is currently interviewing multiple firms to work in collaboration and deploy its market awareness campaign. The campaign is expected to run for an initial twelve months.

George M. Yordanov, P.Geo., is the Qualified Person as defined by National Instrument 43-101 ("NI 43-101"), has reviewed, and approved the scientific and technical contents of this news release.

ON BEHALF OF THE BOARD OF DIRECTORS

‘Frank Dumas'
FRANCOIS (FRANK) DUMAS
Chief Operating Officer & Director of St-Georges Eco-Mining Corp.

About St-Georges Eco-Mining Corp.

St-Georges develops new technologies to solve some of the most common environmental problems in the mining sector, including maximizing metal recovery and full circle battery recycling. The Company explores for nickel & PGEs on the Manicouagan and Julie Projects 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 Frankfurt Stock Exchange under the symbol 85G1 and as SXOOF on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com

Visit the Company website at www.stgeorgesecomining.com

For Regulatory & Press Inquiries: corporate@stgeorgesecomining.com

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

SOURCE: St-Georges Eco-Mining Corp.