Euro Manganese Announces Submission of Environmental & Social Impact Assessment and Publication of 2022 Sustainability Report

VANCOUVER, Jan. 04, 2023 - Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQX: EUMNF; Frankfurt: E06) (the "Company" or "EMN") is pleased to announce it has submitted the final Environmental and Social Impact Assessment ("ESIA") for the Company's Chvaletice Manganese Project ("Chvaletice" or the "Project") to the Ministry of Environment in the Czech Republic and it has published its inaugural 2022 Sustainability Report (the "Report").

Highlights

• The Project is poised to become Europe's only primary producer of high-purity manganese products with excellent ESG credentials, serving the rapid growth of the EV battery market.
• The Project is designed to meet the Czech Republic's and European Union's strict environmental, health and safety standards.
• The ESIA is the main step in the Project's environmental permitting process.
• The Company has published its inaugural 2022 Sustainability Report, outlining material issues for the business and its stakeholders.

Submission of ESIA

The ESIA builds on the preliminary ESIA which was reviewed by the Czech Ministry of Environment in 2020. The ESIA takes outputs from both the preliminary ESIA and the Chvaletice Feasibility Study, announced in July 2022, as inputs to the compilation of many environmental and social impact assessments, including but not limited to dispersion studies, acoustic studies and impact on human health studies (collectively, "the studies"). The Company has also proactively engaged with and briefed many of the relevant authorities and stakeholders on the Project details. Feedback received from stakeholders has been built into the final ESIA submission.

After a significant amount of work, the Company is confident in the quality of the studies and in meeting the criteria set out by Czech regulation for a successful ESIA. The approval process is anticipated to take approximately six months.

Publication of Inaugural Sustainability Report

The Company has published its inaugural Sustainability Report for 2022, which outlines how Euro Manganese is leading the way for sustainable production of high-purity manganese for the electric vehicle industry. It is based on the material environmental, social and governance issues that matter to the Company and its stakeholders. The Report also defines the Company's purpose, vision and values, and details its business model that is designed to deliver long-term value for stakeholders.

The Report was filed on SEDAR on December 23, 2022 and lodged on ASX on December 27, 2022. It can also be found on the Company's website here: 2022 Sustainability Report.

Dr. Matthew James, President & CEO of Euro Manganese, commented:

"Both the submission of the Environmental and Social Impact Assessment and the completion of the Company's inaugural Sustainability Report are significant achievements by Euro Manganese. The team has worked incredibly hard to ensure both the ESIA and the Sustainability Report are of the highest quality and include extensive consultation with local communities and other stakeholders who provided invaluable input to both documents. The Project embodies strict and very high environmental, health, safety and social standards, and is positive for the environment, local community and the Czech Republic. Environmental protection and stewardship remain front and centre in our Company and in the design of this Project."

About Euro Manganese

Euro Manganese is a battery materials company focused on becoming a leading, competitive, and environmentally superior producer of high-purity manganese for the electric vehicle industry and other high-technology applications. The Company is advancing development of the Chvaletice Manganese Project in the Czech Republic, which is a unique waste-to-value recycling and remediation opportunity involving reprocessing old tailings from a decommissioned mine. The Chvaletice project is the only sizable resource of manganese in Europe, strategically positioning the Company to provide battery supply chains with critical raw materials to support the global shift to a circular, low-carbon economy.

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.

Inquiries

Dr. Matthew James
President & CEO
+44 (0)747 229 6688

Louise Burgess
Senior Director, Investor Relations & Communications
+1 (604) 312-7546
lburgess@mn25.ca

Company Address: #709 -700 West Pender St., Vancouver, British Columbia, Canada, V6C 1G8
Website: www.mn25.ca

Forward-Looking Statements

Certain statements in this news release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, its Chvaletice Project, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Such forward-looking information or statements also include, but are not limited to, statements regarding the Company's intentions regarding the development of the Chvaletice Project, the acceptability of the ESIA by the Czech Ministry of Environment and the anticipated timing of its the approval, the anticipated positive impact of the Project, and the ability of the Company to become Europe's only primary producer of high purity manganese products.

Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company.

Factors that could cause actual results or events to differ materially from current expectations include, among other things: a delay or inability to get the ESIA approved by relevant authorities, the ability to develop adequate processing capacity; risks and uncertainties related to the ability to obtain, amend, or maintain necessary licenses, or permits, risks related to acquisition of surface rights; timing and amount of production and total costs of production; the potential for unknown or unexpected events to cause contractual conditions to not be satisfied; risks and uncertainties related to the accuracy of mineral resource and reserve estimates; changes in project parameters as plans continue to be refined; risks related to global epidemics or pandemics and other health crises, including the impact of the coronavirus (COVID-19); availability and productivity of skilled labour; risks and uncertainties related to interruptions in production; unforeseen technological and engineering problems; social unrest or war; the possibility that future results will not be consistent with the Company's expectations; developments in EV battery markets and chemistries; and risks related to fluctuations in currency exchange rates, changes in laws or regulations; and regulation by various governmental agencies. For a further discussion of risks relevant to the Company, see "Risk Factors" in the Company's annual information form for the year ended September 30, 2022, available on the Company's SEDAR profile at www.sedar.com.

All forward-looking statements are made based on the Company's current beliefs as well as various assumptions made by the Company and information currently available to the Company. Generally, these assumptions include, among others: the presence of and continuity of manganese at the Chvaletice Project at estimated grades; the ability of the Company to obtain all necessary land access rights; the ability of the Company obtain all required environmental and other permits; the availability of personnel, machinery, and equipment at estimated prices, in good order, and within estimated delivery times; the availability of acceptable financing for the Chvaletice Project and for continued operations; success in realizing proposed operations in the Czech Republic and demand for the Company's products.

Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.