Euro Manganese Secures Major Permitting Milestone for Chvaletice Project

Euro Manganese Inc. (TSX-V: EMN, ASX: EMN, OTCQX: EUMNF, Frankfurt: E06) has achieved a significant milestone in the development of its Chvaletice Manganese Project in the Czech Republic. The company announced on January 23, 2025, that its wholly-owned subsidiary, Mangan Chvaletice s.r.o., has secured the Determination of Mining Lease permit (the "Permit"), marking a critical step towards the development of the Project.

The Permit, issued by the District Mining Authority for the regions of Hradec Králové, Pardubice, Liberec, and Vysočina, represents one of the most significant approvals in the Company’s journey towards full project permitting. Effective 23 January 2025, the Permit replaces all prior authorizations and has no expiration date. It provides Mangan Chvaletice with exclusive, unrestricted rights to mineral extraction within the designated area and ensures robust legal protection of the project area, enabling the Company to proceed with the Project’s next phases on an exclusive basis.

Martina Blahova, Interim CEO of Euro Manganese, commented, "The granting of the Mining Lease for the Project marks another significant milestone for Euro Manganese. This achievement highlights a successful collaboration between Euro Manganese, federal and regional regulators, and host communities, underscoring a shared commitment to the Project’s progress. A key asset for Company, the Permit grants exclusive, unrestricted legal rights to extract mineral resources with no expiration date. This brings Euro Manganese closer to establishing a commercial-scale facility for the production of high-purity manganese—an essential material for the transition to a greener economy and the global effort to decarbonize our planet."

The Chvaletice Manganese Project is a unique waste-to-value recycling and remediation opportunity involving reprocessing old tailings from a decommissioned mine. It is also the only sizable resource of manganese in the European Union, strategically positioning the Company to provide battery supply chains with critical raw materials to support the global shift to a circular, low-carbon economy. Euro Manganese is dual listed on the TSX Venture and the ASX, and is also traded on the OTCQX.

The Chvaletice Project has the potential to reduce Europe's reliance on imports of raw battery materials by providing up to 20% of projected 2030 European demand for high-purity manganese. The Project is expected to create approximately 400 full-time jobs, numerous commercial opportunities for Czech businesses, as well as substantial fiscal revenues for the Czech State and local communities.

The granting of the Mining Lease Permit accelerates the Chvaletice Project's development timeline and enhances the Company's ability to secure the required financing for the Project. The European Investment Bank (EIB) has already shown support for the Chvaletice Project by listing it on their website under the list of 'Projects to be Financed'. This recognition, combined with the Permit, strengthens Euro Manganese's case for securing debt financing from the EIB and other potential lenders. The Permit also opens up opportunities for accessing other financing sources, such as national banks, EU institutions, regional and national funding authorities, and private financial institutions, as part of the EU Critical Raw Materials Act (CRMA) Strategic Project status benefits.

In conclusion, Euro Manganese's achievement of the Mining Lease Permit for the Chvaletice Manganese Project is a significant milestone in the Company's journey towards becoming a leading producer of high-purity manganese for the electric vehicle industry. This approval, combined with the Project's strategic location in the Czech Republic and its unique position as the only significant manganese resource in the EU, positions Euro Manganese to capitalize on the growing demand for high-purity manganese in the European and North American EV markets.