EURO MANAGANESE INC - EUMNF STOCK NEWS

Euro Manganese has released its Feasibility Study (FS) for the Chvaletice Manganese Project, revealing strong project economics. Key findings include an after-tax NPV of US$1.34 billion, an IRR of 21.9%, and a payback period of 4.1 years. With an initial capital requirement of US$757.3 million, the project is expected to generate revenues of US$13.9 billion over 25 years. Positioned to supply high-purity manganese to the European EV market, the project aims to meet growing demand, with a supply deficit forecasted.

Euro Manganese Inc. (EUMNF) announced its membership in the Global Battery Alliance (GBA), focusing on sustainable battery production and human rights. As the first high-purity manganese company in the GBA, Euro Manganese will engage in discussions regarding battery materials transparency and traceability, particularly through the development of the Battery Passport. This initiative aims to ensure the quality and responsible manufacturing of EV batteries. The company's Chvaletice Project in the Czech Republic represents a unique waste-to-value opportunity to produce high-purity manganese while promoting environmental sustainability.

Euro Manganese has appointed Stifel Nicolaus Europe Limited as its financial advisor to aid in structuring and securing project financing for the Chvaletice Manganese Project in the Czech Republic. This partnership aims to initiate discussions with potential financiers, ensuring due diligence processes commence. Key milestones include completing a feasibility study and securing binding offtake agreements, with a final investment decision expected in 2023. The project is positioned uniquely within the European EV battery market, focusing on high-purity manganese production from historic mine tailings.

Euro Manganese Inc. announced the shipment of the final consignment of its demonstration plant modules from Shanghai to Hamburg, marking a key milestone for the Chvaletice Manganese Project. The first consignment was sent on April 30, with both expected to arrive in June and July. Assembly will begin upon arrival, aiming for commissioning in September and sample deliveries in Q4 2022. Positioned as a significant battery materials provider, the project leverages recycled tailings in the Czech Republic, supporting the European Union's EV supply chain.

Euro Manganese Inc. announced key developments for Q2 2022, including the shipment of its demonstration plant and Ms. Hanna Schweitz's appointment to the Board. The first of two shipments was sent on April 30, with assembly set for June and production targeted by September. A land rental agreement has been approved, providing access to 19% of required land. The company also completed a private placement for $8.5 million, enhancing project financing flexibility. Notably, a royalty termination agreement was settled, projecting a $25.3 million increase in after-tax NPV based on a 2019 assessment.

Euro Manganese has appointed Hanna Schweitz to its Board of Directors, effective April 25, 2022. With her extensive experience in the metals and EV battery materials sector, Schweitz aims to advance the Chvaletice Manganese Project in the Czech Republic. Currently serving as Director of Battery Materials at WMC Energy, Schweitz's background includes roles at Northvolt AB and Boliden AB. She has been granted stock options for 500,000 common shares at an exercise price of C$0.4775. Euro Manganese will provide an operational update on May 16, 2022.

Euro Manganese Inc. announced the approval of land rezoning underlying the Chvaletice Manganese Project by the Village of Trnavka, facilitating mining use for the Project's tailings. The Municipality of Chvaletice approved terms for a land access agreement, allowing the Company access to 19% of the necessary land area. Key terms include a 40-year rental agreement at CZK 7.46 million annually, adjusted for inflation. Discussions are ongoing with remaining landowners for additional access agreements. The Company aims to position itself as a leader in high-purity manganese production to support the electric vehicle industry.

Euro Manganese Inc. announced positive outcomes from its Annual General & Special Meeting held on February 25, 2022, with shareholders approving all matters presented. Key results include the re-election of all five management nominees, with Thomas M. Stepien receiving 99.71% of votes for re-election. Pricewaterhouse-Coopers LLP was confirmed as auditors with 99.81% support. Additionally, the stock option plan and its amendments were overwhelmingly endorsed, securing over 99% of shareholder votes. A critical ratification of a share issuance related to a placement with the European Bank for Reconstruction and Development also achieved 99.78% approval.

Euro Manganese Inc. has closed a strategic equity investment of CAD$8,499,500 from the European Bank for Reconstruction and Development (EBRD). This private placement involved issuing 17,800,000 common shares at CAD$0.4775 each, resulting in EBRD holding about 4.4% of the company’s shares. Proceeds will enhance financing for the Chvaletice Manganese Project in the Czech Republic, covering feasibility studies and operational costs. Additionally, Euro Manganese's CEO will host a quarterly investor call on February 14, 2022, to discuss project updates.