Euro Manganese Completes Buy Back of 1.2% NSR in Chvaletice Manganese Project

VANCOUVER, British Columbia, Jan. 31, 2023 (GLOBE NEWSWIRE) — Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQX: EUMNF; Frankfurt: E06) (the “Company” or “EMN”) is pleased to announce that it has issued 4,820,109 common shares (“Shares“) and paid US$1,800,000 to purchase and extinguish the aggregate 1.2% net smelter royalty (“NSR“) interest in the Chvaletice Manganese Project.

Further to its announcement of January 24, 2023, the Company issued 4,820,109 Shares at a price of $0.47262 per Share (the “Share Consideration“) valued at $2,278,080 (US$1,800,000 based on the Bank of Canada’s USD / CAD exchange rate on January 24, 2023) and paid US$1,800,000 to settle the balance owing under the royalty termination agreements dated May 31, 2023.

In accordance with Canadian securities laws and the policies of the TSX Venture Exchange, the Shares issued as the Share Consideration are subject to a four month and one day statutory hold period expiring on June 1, 2023.

About Euro Manganese Inc.

Euro Manganese Inc. is a battery materials company whose principal focus is advancing the development of the Chvaletice Manganese Project, in which it holds a 100% interest. The proposed Project entails re-processing a significant manganese deposit hosted in mine tailings from a decommissioned mine, strategically located in the Czech Republic. The Company’s goal is to become a leading, competitive and environmentally superior primary producer of ultra-high-purity Manganese Products in the heart of Europe, serving the lithium-ion battery industry, as well as other high-technology applications.

Authorized for release by the CEO of Euro Manganese Inc.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the ASX accepts responsibility for the adequacy or accuracy of this release.

Company Address: #709 -700 West Pender St., Vancouver, British Columbia, Canada, V6C 1G8