EURO MANAGANESE INC - EUMNF STOCK NEWS

Euro Manganese has amended its US$100 million funding package with Orion Resource Partners for the Chvaletice Manganese Project in the Czech Republic. Key changes include:

- Interest accruing from January 1, 2025, will be deferred and added to principal balance at 14.00%, saving US$2.8 million annually in cash
- Extension of milestone obligation dates
- Right to repay convertible loan at par before conversion
- Option to terminate US$50 million Royalty Financing for US$1 million fee
- Potential issuance of warrants to Orion, subject to TSX Venture Exchange approval

The package consists of a US$50 million Convertible Loan Royalty Agreement (US$20 million already advanced) and a US$50 million royalty on Project revenues.

Euro Manganese announces leadership changes effective November 12, 2024. Martina Blahova, the current CFO, has been appointed as Interim CEO, replacing Dr. Matthew James who resigned as CEO and director. Dean Larocque joins as the new CFO. Blahova, who joined the company in 2018, brings extensive financial experience from roles at SSR Mining, Rheinmetall Group, and PricewaterhouseCoopers. Larocque, a seasoned finance professional with over 30 years of experience, including 18 years as Senior Assurance Partner at PwC, brings expertise in IPOs, M&As, and mining-specific accounting.

Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQB: EUMNF) has successfully completed a 5-day continuous operation program at its Chvaletice Manganese Project's Demonstration Plant in the Czech Republic. The plant, which includes six main process stages, achieved key technical targets for producing high-purity electrolytic manganese metal (HPEMM).

The continuous operation ran from October 7 to October 12, 2024, with a target of producing at least 132 kg of HPEMM. The plant exceeded expectations, producing 172 kg of HPEMM with 100% reliability and no stoppage time. This achievement is important for accessing the next draw-down from the Orion financing package announced in November 2023.

The Demonstration Plant's success positions Euro Manganese as the only new high-purity manganese project outside China with a fully operational facility, potentially benefiting from the growing demand for high-purity manganese in battery production.

Euro Manganese has appointed Ms. Ludivine Wouters as a non-executive Director to its Board of Directors, effective October 2, 2024. This appointment follows Ms. Wouters' successful acquisition of a Director Identification Number (DIN) from the Australian Business Registry Services. John Webster, Chair of the Board, expressed enthusiasm about the appointment, highlighting Ms. Wouters' extensive experience in European policy on mining and minerals, particularly in critical raw materials.

The company believes her expertise will be instrumental as Euro Manganese strengthens its position in supporting the supply of critical materials essential for energy transition and focuses on delivering sustainable growth for shareholders.

Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQB: EUMNF) announces the appointment of Ms. Ludivine Wouters as a non-executive Director to its Board. Wouters, based in France, brings expertise in European mining and minerals policy, critical raw materials, and responsible sourcing. She is the managing partner of Latitude Five's Mining and Minerals practice and a Visiting Fellow with the European Council on Foreign Relations.

Simultaneously, Gregory Martyr steps down from the Board due to personal commitments. The company expresses gratitude for his valuable contributions since 2018. Wouters' appointment is pending her obtaining a director identification number from the Australian Business Registry Services, expected within 30 days.

Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQB: EUMNF) has signed an offtake term sheet with FeMoCat for the sale of high-purity manganese sulphate and magnesium carbonate from its Chvaletice Manganese Project in the Czech Republic. Key points:

1. FeMoCat will use these products for catalyst and Synthetic Hydrotalcites production at its Pardubice plant, less than 1 hour from Chvaletice.
2. The offtake represents a portion of planned HPMSM production and significant magnesium carbonate by-product.
3. Pricing is designed to meet debt finance banking covenants.
4. Deliveries will start from first production for an initial seven-year term.
5. HPMSM pricing will be on a take-or-pay basis, indexed to a western benchmark price.
6. The agreement highlights the value of producing high-purity manganese with leading ESG credentials in Europe.

Euro Manganese Inc. (EMN) has announced a change in its corporate leadership. Laurel Petryk will assume the role of Vice President Legal & Corporate Secretary effective September 1, 2024, replacing the retiring Fausto Taddei. Ms. Petryk, who joined EMN as General Counsel in 2021, brings over 24 years of legal experience in corporate, securities, governance, and mining sectors. She will be responsible for communications between EMN and the ASX.

The transition is part of EMN's long-standing succession plan, with Mr. Taddei supporting a seamless change and remaining available for guidance during the transition phase. Dr. Matthew James, President and CEO, expressed gratitude for Mr. Taddei's six-year contribution and welcomed Ms. Petryk's promotion, highlighting her exceptional skills in legal, regulatory compliance, and governance.

Euro Manganese has submitted an application to designate its Chvaletice Manganese Project as a Strategic Project under the EU's Critical Raw Materials Act (CRMA). The CRMA, effective since May 2024, aims to ensure the availability of essential raw materials for Europe's economy and green transition. High-purity manganese is listed as a strategic raw material under the CRMA.

Benefits of gaining Strategic Project status include potential access to financing from various private and public sources and streamlined permitting processes. The European Commission is expected to announce the first list of Strategic Projects in December 2024. This application marks a significant milestone for Euro Manganese, potentially strengthening its role in the EU's raw materials value chain and accelerating its path to becoming the only integrated European producer of high-purity manganese for the battery supply chain.

Euro Manganese has entered into an offtake term sheet with Blue Grass Chemical Specialties for the sale of high-purity manganese metal from its Chvaletice Manganese Project in the Czech Republic. The agreement includes:

• A portion of the project's planned HPEMM production
• Pricing designed to meet debt finance banking covenants
• Initial term of seven years with potential renewals
• Deliveries commencing from first production
• Take or pay pricing based on an index-adjusted western benchmark price

This deal demonstrates the value of producing both high-purity manganese metal and sulphate at Chvaletice, meeting the needs of a diverse customer base. The project's HPEMM specifications meet Blue Grass Chemical's requirements, offering a traceable, responsibly produced, and IRA-compliant source of high-purity manganese.