DGAP-News: ENERGIZER CONFIRMS UP TO 82% VANADIUM EXTRACTION

DGAP-News: Energizer Resources Inc. / Key word(s): Miscellaneous
ENERGIZER CONFIRMS UP TO 82% VANADIUM EXTRACTION

17.11.2010 / 17:00

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ENERGIZER CONFIRMS UP TO 82% VANADIUM EXTRACTION; GREEN GIANT DEPOSIT WILL
PLAY KEY ROLE IN NEW BATTERY POWER AND STORAGE MARKET

NEWS RELEASE

TORONTO, ON – November 17, 2010

Energizer Resources Inc. (formerly Uranium Star Corp.) (TSX.V: EGZ) (the
Company) is pleased to announce final test results from its recent
metallurgical program conducted on composite samples from its Green Giant
vanadium property in Madagascar. Batch pressure leach tests completed at
SGS Minerals Services (Lakefield), consisting of an oxidizing pre-roast
followed by an alkaline pressure leach, extracted up to 82% vanadium into a
leach solution low in deleterious elements and suitable for upgrading by
solvent extraction.

Several opportunities for further improvement in the extraction process
have been identified, including the recycling of leach solution to increase
vanadium tenor, reduction of soda ash consumption and optimization of
pre-roast and pressure leach conditions (temperature and time). Future
test programs will examine these opportunities to further optimize the
process flow sheet.

2010 Metallurgy and Mineralogy Program Completed

The 2010 metallurgical program was designed to compare the efficiency of
alternate strategies for extraction of vanadium, including alkali salt
roasting, acid leaching (atmospheric and pressure) and alkaline leaching
(atmospheric and pressure). Mineralogical characterization of the composite
samples and a pre-concentration test program which examined the viability
of upgrading by flotation, gravity concentration and screening were also
conducted.

The 2010 metallurgical test composites were compiled using drill core
intervals selected at various depths from 9 drill holes spanning the Manga
zone on the Green Giant property and closely match current estimates of
average resource grade. Mineralogical characterization of the composite
identified vanadium in various sulphide, silicate and oxide minerals.

Pre-roasting + Alkaline Pressure Leaching = up to 82% Vanadium Extraction

Prior to alkaline (soda ash) pressure leaching, samples were ground to 80%
passing 105um and roasted at various temperatures (900-1100?C) for 3 hrs.
Pressure leach tests examined various soda ash solution strengths and
addition rates plus pressure leach temperature and duration. The
pre-roasting of the representative samples was shown to greatly improve the
vanadium extraction by soda ash leaching.

Julie Lee Harrs, President and COO of Energizer, said, –This test program
has confirmed an effective leach process that achieves high vanadium
extraction, while at the same time, producing clean leach solutions very
low in problematic contaminants. We have now completed a critical step as
we move forward with the development of our Green Giant vanadium project.–

Green Giant Deposit To Provide High Purity V2O5 to Battery Market

The Green Giant vanadium deposit is a sedimentary-hosted deposit, which is
unique among the world–s known vanadium deposits. As a result, the Green
Giant deposit will be able to produce a high-purity vanadium pentoxide
(V2O5), which is required in battery power and in battery storage for both
mobile (automotive) applications and stationary (large-scale) applications.

Vanadium Demand for Steel Growing at 7%

In addition to its ability to produce high-purity V2O5, the Green Giant
project can also be easily adapted to supply another form of vanadium to
the steel market, called ferrovanadium, where vanadium demand is growing at
7% year-over-year and is well-established as a strengthening agent for
steel.

2010 New Developments in Battery Power and Storage

Lithium-Vanadium Polymer Battery Sets Electric Vehicle Distance Record with
a 6-Minute Recharge

DBE Energy, in partnership with German utility Lekker Energie, equipped an
Audi A2 electric vehicle with its new lithium-vanadium metal polymer
battery and set a long distance record of 603 kilometres (375 miles)
travelled on a single charge. The battery–s basic electro-chemistry
consists of a metallic lithium anode and a vanadium oxide cathode. DBE
Energy claims the battery has a 97% efficiency and can be charged at
virtually any electrical socket. Plugged into a high-voltage direct-current
source, the battery can be fully charged within 6 minutes. More details can
be found at www.benzev.co.nz.

Vanadium Redox Battery Manufacturer, Prudent Energy, Named a Top Cleantech
Company

Prudent Energy, the manufacturer of a vanadium redox battery energy storage
system called the VRB-ESSTM, was recently named one of the most promising
private clean technology companies poised to make a significant market
impact in the next five to ten years by the 2010 Global Cleantech 100.
Prudent Energy, a private company based in Beijing, China with offices in
Washington, D.C. U.S.A., was selected by a committee that included
well-respected organizations in cleantech innovation from around the world,
including BASF, GE, Honeywell, IBM, Proctor&Gamble, Siemens and Veolia,
as well as venture capital companies.

This recognition of a vanadium-based storage system as a leading storage
solution signals the movement of vanadium-based technologies into the
mainstream market of Green Power.

Prudent Energy–s Vanadium Redox Battery Electrolyte Operates at Room
Temperature and Never Wears Out

Prudent Energy has just announced (in Prudent–s press release dated
November 9, 2010) they have installed over 20 vanadium redox battery
systems around the world in Kenya, Hungary, Turkey, Italy, USA and China.
Prudent Energy describes its VRB Energy Storage System as a large capacity,
long life, advanced vanadium-based energy storage system with high
performance and low operating costs. The company further claims that field
results over the last three years in China and the USA has shown that it
performs way in excess of any other technology currently in the field, and
given the fact that their vanadium redox battery–s electrolyte operates at
room temperature and never wears out, the total cost of ownership is
undoubtedly the lowest for any energy storage system.

Prudent Energy–s latest press releases containing more details about their
vanadium-based technology can be viewed on their website at
www.pdenergy.com

Gildemeister/Cellstrom–s Version of Vanadium Redox Battery called the
CellCubeTM

Cellstrom GmbH, another vanadium redox battery manufacturer, based in
Austria, was acquired in 2010 by a subsidiary of a German-based
conglomerate, Gildemeister GmbH. Cellstrom has successfully been selling
vanadium redox batteries since 2008 throughout Europe and most-recently
into India, where they have been installed as battery-back up systems for
factories who operate in regions hit frequently by power outages. Details
and images of Cellstrom–s Cellcube VRB can be viewed at www.cellstrom.com

Vanadium Redox Batteries Require Significant Amounts of High-Purity V2O5

VRBs require significant amounts of high purity V2O5. Cellstrom–s CellCube
FB10/100 is a 10 kilowatt/100 kilowatt hour VRB designed for uninterrupted
power supply for households and factories and require approximately 1 tonne
of V2O5 each. In 2011, Cellstrom plans to launch the Cellcube 200/400, a
200 kilowatt/400 kilowatt hour VRB designed for solar and wind farms and
requires 5 tonnes of V2O5 per battery. These batteries can be easily
scaled up in size to reach megawatt capacities, suitable for power-grid
applications.

Today, high-purity V2O5 is not readily available and the substantial
amounts of high purity V2O5 required for the production of these vanadium
redox batteries cannot be met by the current supply of V2O5. New vanadium
projects, such as the Green Giant project will need to come online in order
to meet this new demand.

With the capability to provide a high-purity V2O5 product, Energizer–s
Green Giant project is uniquely positioned to meet this new demand for
vanadium-based battery power and storage. The Green Giant project is being
positioned to provide the sureness of price and supply of vanadium that
companies such as Prudent Energy and Cellstrom require.

About the Green Giant Vanadium Project

The Green Giant vanadium project, located in Madagascar, is 100% owned by
Energizer. The Company previously reported a National Instrument 43-101
compliant indicated resource estimate of 21.74 million tonnes of V2O5 at an
average grade of 0.759% and an inferred resource estimate of 4.15 million
tonnes of V2O5 at a grade of 0.655%. Assay results from the drilling
program completed earlier this year are expected to increase the resource
estimate by an additional 25 to 30 million tonnes, to make the Green Giant
vanadium project one of the largest vanadium deposits in the world.

An updated National Instrument 43-101 compliant resource estimate is
expected within the week.

About Vanadium

Vanadium is well-established as a strategic metal that strengthens and
hardens alloys like steel and is positioned to play a significant role in
emerging battery technologies such as batteries for electric cars and for
large-scale energy storage. While there are some opportunities for
substitution in steel production, the same is not true for other markets,
including the emerging energy (battery) storage markets, the military and
particularly in the aerospace industry, where vanadium is irreplaceable.

Qualified Person

Andy Holloway, P.Eng., Principal Process Engineer of AGP Mining Consultants
Inc. is the qualified person responsible for the metallurgical and
mineralogical information contained in this press release.

About Energizer Resources

Energizer Resources Inc. is a mineral exploration and development company
based in Toronto, Canada. 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

Cautionary Statement: The above resource estimates were calculated in
accordance with National Instrument 43-101 as required by Canadian
securities regulatory authorities. For United States reporting purposes,
Industry Guide 7 (under the Securities Exchange Act of 1934), as
interpreted by the Staff of the SEC, applies different standards in order
to classify mineralization as a reserve. Among other things, the terms
–measured–, –indicated– and –inferred– mineral resources are required
pursuant to National Instrument 43-101, the U.S. Securities and Exchange
Commission does not recognize such terms. Canadian standards differ
significantly from the requirements of the U.S. Securities and Exchange
Commission, and mineral resource information contained herein is not
comparable to similar information regarding mineral reserves disclosed in
accordance with the requirements of the U.S. Securities and Exchange
Commission.

Mineral resources are not mineral reserves and do not have demonstrated
economic viability. This mineral resource estimate includes inferred
resources that are normally considered too speculative geologically to have
economic considerations applied to them that would enable them to be
categorized as mineral reserves.There is also no certainty that the
inferred mineral resource will be converted to the measured and indicated
mineral resource categories through further drilling, or into a mineral
reserve once economic considerations are applied.

U.S. investors should understand that –inferred– mineral resources have a
great amount of uncertainty as to their existence and great uncertainty as
to their economic and legal feasibility. In addition, investors are
cautioned not to assume that any part or all of the Company–s mineral
resources constitute or will be converted into reserves.

Safe Harbour Statement: The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this press release issued by
the Company. 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.

While Company–s management has attempted to determine the factors that
could cause actual results to differ materially from estimated results
contained in forward-looking statements, there may be other factors that
cause results not to be as anticipated. The Company provides no assurance
that such forward-looking statements will prove accurate or not materially
different than projected. Therefore readers of this and other press
releases issued by the Company should not place unreasonable reliance on
stated forward-looking statements.

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.

End of Corporate News

17.11.2010 Dissemination of a Corporate News, transmitted by DGAP – a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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103839 17.11.2010