EURO MANAGANESE INC - EUMNF STOCK NEWS

On April 13, 2023, Euro Manganese reported successful production of high-purity electrolytic manganese metal (HPEMM) at its Demonstration Plant in the Czech Republic. The first batch of HPEMM achieved a purity of 99.9% as confirmed by an external laboratory. Currently, high-purity manganese sulphate (HPMSM) is also under production and will undergo testing soon. The Demonstration Plant started its commissioning phase in November 2022 and aims to produce bulk samples for customers, with an operational capacity of 32 kg/day of HPEMM or 100 kg/day of HPMSM. The company anticipates commencing customer deliveries following acceptance testing in late April. This project positions Euro Manganese strategically within the European Union as a key supplier of critical materials for the electric vehicle industry.

Euro Manganese Inc. welcomes the European Commission’s proposed Critical Raw Materials Act (CRMA), which aims to secure a sustainable supply of essential raw materials for energy transition. High-purity manganese has been identified as a strategic material, with the Chvaletice Project set to produce almost 50 Kt annually, meeting 25% of Europe's demand. The CRMA requires 10% of critical materials to be mined in the EU by 2030, a benchmark the Chvaletice Project aims to fulfill. The project may qualify for 'Strategic Project' recognition within the CRMA, which includes priority permitting and access to funding for critical raw materials.

On February 24, 2023, Euro Manganese announced that shareholders approved all matters at its Annual General & Special Meeting. All six management nominees for director were re-elected, receiving significant support: John Webster (87.64%), Matthew P. James (99.17%), and others above 98%. Key resolutions included setting the number of directors at six, appointing Pricewaterhouse-Coopers LLP as auditors, and re-approving the Stock Option Plan, each with over 98% approval. The meeting highlighted 25.79% of shares voting, underlining shareholder engagement. Euro Manganese focuses on high-purity manganese production for the electric vehicle industry, particularly through the Chvaletice Project in the Czech Republic.

Euro Manganese (EUMNF) has announced several key developments for Q1 2023, highlighting progress in its Chvaletice Manganese Project. A non-binding offtake term sheet with Verkor was established, ensuring future supply of high-purity manganese sulphate. The Demonstration Plant is on track for commissioning, with initial supplies ready by Q2 2023. The final Environmental and Social Impact Assessment has been submitted, with a six-month approval period expected. Financially, cash reserves decreased to C$18.3 million, reflecting project advancement costs, while working capital dropped to $16.1 million. The company remains well-positioned for future growth.

Euro Manganese will file its First Fiscal Quarter financial reports after TSX.V market close on February 9, 2023, and prior to ASX market open on February 10, 2023. The company will hold two conference calls on February 13, 2023, to address both North American and UK/European audiences, and also for Australian audiences on February 14, 2023. Euro Manganese is focused on producing high-purity manganese for the electric vehicle sector, with its Chvaletice Manganese Project in the Czech Republic being a key initiative. This project recycles old tailings and represents a significant resource of manganese within the European Union.

Euro Manganese Inc. has announced a non-binding offtake term sheet with Verkor for high-purity manganese sulphate monohydrate from its Chvaletice Project in the Czech Republic. The agreement outlines an initial eight-year term that will begin with first production expected in 2027, contingent on successful qualification of the product. Pricing will be index-adjusted and includes a floor price to meet financing covenants. This marks a significant milestone for the company as it seeks to supply the European battery market.

Euro Manganese Inc. (EUMNF) announced the issuance of 237,077 common shares to EIT InnoEnergy following the completion of the final investment tranche of €62,500 (CAD$80,606). This forms part of a total of €250,000 received from EIT InnoEnergy to support the Chvaletice Manganese Project's feasibility study and the commissioning of a Demonstration Plant. The shares are subject to a hold period expiring on May 6, 2023. EMN aims to become a key player in the high-purity manganese market, crucial for electric vehicle batteries and advancing the circular economy.

Euro Manganese Inc. (EUMNF) reports significant developments for Q4 2022 and beyond. The commissioning of its Demonstration Plant is underway, with on-spec samples expected in Q1 2023, and six EV supply chain companies have requested samples. The formal off-take tender process has attracted multiple bids, and a positive Feasibility Study indicates a robust after-tax NPV of US$1.34 billion and an IRR of 21.9%. The company has C$21.6 million in cash and is exploring North American market opportunities for battery-grade manganese.