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Energizer Resources’ Green Giant Vanadium Project Visited by Madagascar’s Prime Minister

Posted at 4:35 p.m. on May 23, 2011

Energizer Resources Inc. (TSX.V: EGZ) (OTCBB: ENZR) (FWB: YE5) (“Energizer” or the “Company”) announces that on Saturday, May 14, a group of high-level Madagascar government officials, including the Prime Minister, the Minister of Mines, the Minister of Finance, the Secretary General, the Director General of Mines, the Director of Geology, the head of the Madagascar police force, the engineer in charge of environmental evaluation for the Ministry of Mines, as well other governmental officials, visited the Company’s Green Giant Vanadium Project site located near the town of Fotadrevo in south-western Madagascar.

Energizer Resources was one of a select few companies visited by this prestigious delegation of government officials.

The site visit served to showcase the transition of the Green Giant Vanadium Project from exploration to project development and positioned the Company and the Green Giant Vanadium Project as the next significant mining project in Madagascar. These key government officials were provided with first-hand information and insight into the location of the project, including its proximity to infrastructure and the nearby community of Fotadrevo. This site visit also served to highlight the minimal environmental and social impact expected from the Green Giant Vanadium Project given its location far from populated and environmentally sensitive areas. Finally, the site visit provided the senior government delegation with valuable insight into the infrastructure build-out planned for use by the mining projects in this region, including the Company’s Green Giant Vanadium Project and the nearby Sakoa coal project.

Julie Lee Harrs, President and Chief Operating Officer of the Company, said “We are honoured to have been one of the few companies selected for a site visit by this high-level government delegation. We are encouraged by the government’s initiative and desire to have first-hand knowledge of key mining projects in Madagascar and its commitment to the development of its mining sector. “


Madagascar’s First-Ever International Mining and Hydrocarbon Fair a Resounding Success

The site visit by the governmental delegation followed Energizer’s successful participation as a gold-level sponsor in Madagascar’s first-ever International Mining and Hydrocarbon Fair held from May 6 to 8. In addition to representation at the Fair by the significant mining and related companies operating in Madagascar, the Fair attracted investors, bankers, service providers, media and other interested parties from all over the world, including England, China and Australia. The Company commends the government of Madagascar, and in particular, the Minister of Mines and his staff for such a successful Fair.

Launch of New Website

The Company is pleased to announce the launch of our newly designed website at www.energizerresources.com. Please visit the website to find updated information on the Green Giant Project, a new corporate presentation and updated links to articles on vanadium’s uses in battery technologies. As well, you can view photos from the government officials’ visit to our Green Giant Vanadium Project and from the Madagascar Mining and Hydrocarbon Fair.

If you use Twitter, you can follow Energizer at www.twitter.com/Energizerresinc where we tweet all company news, as well as relevant news items related to vanadium.  

About the Green Giant Vanadium Project

The Green Giant Vanadium Project, located in Madagascar, is 100% owned by Energizer. Energizer’s vanadium is unique – it is sedimentary-hosted, in contrast to the majority of other vanadium deposits, which are magnetite-hosted. As a result, Energizer is the only company that has announced its intention to produce the high purity (>98.4%), battery-grade vanadium pentoxide required by battery technologies, such as the vanadium redox batteries, as its primary product.

Vanadium for Batteries and Energy 

The vanadium redox battery (VRB) is a leading energy storage system which requires large amounts of high purity (>98.4%), battery-grade vanadium. This type of vanadium is not readily available today.

The increasing evidence in the marketplace of key developments in VRB technology is expected to result in the acceleration of commercial applications of vanadium-based battery technologies and therefore, result in an increase in demand and shortage in supply of vanadium.  

For examples of potential vanadium demand resulting from this and other battery technologies, please visit our website at www.energizerresources.com for our 10-year Off-Take Vision.  

A great opportunity exists for vanadium producers who can provide the necessary high purity (>98.4%), battery-grade vanadium required by the VRBs. Energizer is uniquely positioning itself to meet the new anticipated demand for high purity (>98.4%), battery-grade vanadium with its Green Giant Project.

More and More Evidence of VRBs in the Marketplace

Every week, there is more and more evidence of the growing prominence of vanadium-based technologies in the marketplace, including news on March 29, 2011 that General Electric had agreed to acquire Converteam, a world leader in power conversion technologies, which is collaborating with Prudent Energy to design and install VRBs for power grids in both China and the USA this year.

As mentioned in the Company’s previous press releases, there have been considerable developments in the advancement of vanadium redox battery technology in recent months. Three laboratories on three different continents have announced advancements in the development of VRBs for grid storage applications. These advancements are expected to both reduce the size and cost of the VRB, and in turn, accelerate their implementation on a commercial level:  

  • The United States Department of Energy’s Pacific Northwest National Laboratory announced the ability to increase the energy storage capacity of the VRB by 70 percent and to expand the temperature range in which they operate by modifying the battery's electrolyte solution (March 17, 2011) which would mean that smaller tanks could be used to generate the same amount of power; 
  • Germany’s Fraunhofer Institute announced that it would be focusing on and expediting the development of vanadium redox batteries, and in particular, are working on new membrane materials and battery designs, with their long-term goal to build a 20 MWh capacity VRB installation, which would represent the world’s largest VRB (March 31, 2011); 
  • The Chinese Academy of Sciences announced the discovery of a new nanofiltration membrane material that enhances the efficiency of VRBs and therefore, will reduce a key cost component of the battery (April 13, 2011). 

About Energizer Resources

Energizer Resources Inc. is a mineral exploration and development company based in Toronto, Canada, which is developing its 100%-owned Green Giant Vanadium Project located in Madagascar. The Green Giant Vanadium deposit is one of the largest known vanadium deposits in the world. The Company’s common shares are traded on the TSX Venture Exchange under the symbol EGZ, on the Over-The-Counter Bulletin Board under the symbol ENZR, and on the Frankfurt Exchange under the symbol YE5.

For more information, please visit our website at www.energizerresources.com, or contact:

Brent Nykoliation, Vice President of Business Development

Toll Free: 800.818.5442 or 416.364.4911

Email:  bnykoliation@energizerresources.com

or Julie Lee Harrs, President and COO

 

Safe Harbour Statement:  This press release may contain forward-looking statements that may involve a number of risks and uncertainties.  Actual events or results could differ materially from expectations and projections set out herein.
 
Forward-looking statements include, receipt of regulatory approval, statements on the proposed use of proceeds; completion of financing on terms proposed; the ability to raise additional funds as required; the development potential and timetable of the Company’s properties and minerals; the current and future price of minerals the Company explores; the estimated size of mineral deposits on the Company’s properties; the realization of those mineral deposit estimates; the timing and amount of estimated future exploration, development and production; costs of future exploration, development and production activities; success of exploration activities; government regulatory matters; discussion of political and environmental risks.
Forward-looking statements are based on the opinions and estimates of management of the Company. Forward-looking statements are subject to known and unknown risks that may cause actual results to be materially different from stated opinions and estimates of management.  Some of the Company’s more material risks are: availability and timing of external financing; unexpected events and delays during exploration; receipt of government and stock exchange approvals; results of current exploration activities; future price of minerals; political risks in the locations of the Company’s properties; appreciation/depreciation of foreign currencies relative to the United States Dollar (the Company’s functional currency) and other risks inherent in the mining and exploration industry.
 
This press release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
 
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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