EURO MANAGANESE INC - EUMNF STOCK NEWS

Euro Manganese Inc. (EUMNF) will release its Fourth Quarter and Year-End financial reports on December 19, 2022. Two conference calls will follow to update stakeholders on the Chvaletice Project and the company's North American strategy. These calls will be accessible via Zoom, with the same content for all participants. The Chvaletice project aims to recycle and remediate manganese from old mine tailings, strategically benefiting the EU’s battery supply chains.

Euro Manganese Inc. is advancing the Bécancour Project in Québec to support the growing demand for high-purity manganese products in North America, projected to reach 200,000 tonnes per annum by 2031. Currently, there is no processing capacity for battery-grade manganese in the region. A scoping study is underway to evaluate the site's potential for production. The project, supported by the recent U.S. Inflation Reduction Act, aims to establish a local supply chain for electric vehicle manufacturers and optimize production efficiency while reducing CO₂ emissions.

Euro Manganese (EUMNF) has commenced commissioning of its Demonstration Plant at the Chvaletice Project site as of November 10, 2022. Demand for samples from the plant is strong, with 12 companies, including leading automotive and EV battery manufacturers, expressing interest. The installation of the plant is nearly complete, with the first module now undergoing commissioning. High-purity manganese products are expected to be available by Q1 2023, paving the way for potential off-take agreements. The progress indicates a strategic alignment with the growing EV battery supply chain.

Euro Manganese Inc. (EUMNF) has successfully produced high-purity electrolytic manganese metal (HPEMM) from its Chvaletice Project in the Czech Republic. This achievement follows a joint development effort with Nano One to demonstrate cathode materials directly from this manganese using Nano One's patented One-Pot Process. This collaboration significantly reduces production complexity and enhances sustainability in the supply chain for lithium-ion batteries. Both companies aim to meet rising automotive battery demands while supporting environmental goals.

Euro Manganese Inc. (EUMNF) has signed a non-binding Memorandum of Understanding with Statkraft to secure long-term carbon-free energy for its Chvaletice Manganese Project in the Czech Republic. This collaboration aims to establish a Power Purchase Agreement to commence power supply between 2026 and 2027, supporting the project's net-zero goals. The Life Cycle Assessment indicates that using renewable power could halve the project's global warming potential. The partnership is viewed as critical for producing low-carbon, high-purity manganese for the EV industry.

Euro Manganese Inc. (EUMNF) has filed two significant reports pertaining to its Chvaletice Manganese Project in the Czech Republic. The "Technical Report and Feasibility Study" and the "JORC Code Report" were prepared by Tetra Tech Canada Inc., with an effective date of July 27, 2022. These reports affirm the project's status as a unique waste-to-value recycling opportunity, positioning the company to supply critical materials for the electric vehicle industry, thus supporting a low-carbon economy.

Euro Manganese Inc. (EUMNF) announced the successful arrival of two shipments, including 12 containers for its Demonstration Plant at the Chvaletice Project site in the Czech Republic. The modules are being set up, with commissioning expected to begin shortly, aiming for full operation by the end of 2022. The plant will produce high-purity manganese samples for customer qualification and serve as a process optimization facility. The total estimated cost of the Demonstration Plant is $5.8 million, with $3.1 million already paid.

Euro Manganese Inc. has received the third and final investment tranche of €62,500 (CAD$80,606) from EIT InnoEnergy, completing a total investment of €250,000 to support the Chvaletice Manganese Project. The funds will aid the definitive feasibility study and the demonstration plant production of high-purity manganese. In total, the Company will issue 237,077 shares to EIT at CAD$0.34 each, pending TSXV approval, with a four-month hold on issued shares. The Chvaletice Project is key for providing battery supply chains in Europe with critical manganese resources.

Euro Manganese has made significant strides in Q3 2022, filing key financial statements and achieving a positive feasibility study for the Chvaletice Manganese Project. The study indicates an after-tax NPV of $1.34 billion and an IRR of 21.9%, with projected net revenues of $13.3 billion. The company delivered a Life Cycle Assessment showcasing environmental benefits and aims to utilize 100% renewable energy. Additionally, a demonstration plant is being set up to qualify high-purity manganese products for EV suppliers, and project financing support has been secured from Stifel Nicolaus Europe.