Ms. Martina Blahova reports

EURO MANGANESE ANNOUNCES EARLY APPOINTMENT OF CHAIRMAN AND PROVIDES FINANCING UPDATE

Rick Anthon has been appointed chairman of Euro Manganese Inc.'s board of directors as of April 11, 2025 (Vancouver). In addition, the company is providing an update on the company's previously announced upsized $11.2-million ($12.3-million (Australian)) brokered unit private placement financing.

Highlights

• Mr. Anthon, a veteran battery metals executive with over 30 years of industry experience, appointed as chairman;
• Euro Manganese's previously announced $11.2-million ($12.3-million (Australian)) financing has received conditional approval from the TSX Venture Exchange;
• Share purchase plan for certain eligible shareholders for proceeds of $1.5-million (Australian) ($1.4-million) to be launched on April 28, 2025;
• Annual general and special meeting of shareholders to be held on May 15, 2025.

Appointment of new chairman

Mr. Anthon was originally expected to join the board upon the closing of the financing, which is now anticipated to close on or about May 22, 2025, subject to shareholder approval. However, his appointment has been brought forward following unanimous approval by the other directors. The company's current chairman, John Webster, is stepping down as chairman but will remain on the board and as chair of the audit committee.

Mr. Anthon's appointment comes at a pivotal time for Euro Manganese as it advances the development of its Chvaletice manganese project. His addition to the board brings decades of battery metals experience and reflects the company's continued focus on building a strong leadership platform to support its role as a key contributor to Europe's battery materials supply chain.

Martina Blahova, interim chief executive officer of Euro Manganese, commented: "Rick's early appointment reflects the confidence we've built with key stakeholders and our focus on execution. His depth of experience in the resource sector and proven leadership will be invaluable as we continue to scale the Chvaletice project and deliver on our strategic priorities. On behalf of the board, we would like to express our gratitude to John for his outstanding contribution to Euro Manganese during his tenure as chairman, and his exceptional stewardship during these recent transformative years. We look forward to continuing to receive his guidance and support as a director and as chair of the audit committee."

Rick Anthon, Euro Manganese's new chairman, said: "I am honoured to step into the role of chairman at this important stage for Euro Manganese. The company is exceptionally well positioned to play a critical role in Europe's battery materials supply chain, and I look forward to working closely with the board and management team to help drive the Chvaletice project forward and create long-term value for all stakeholders. As I take on this new responsibility, I want to express my sincere appreciation to John for his exceptional leadership and unwavering dedication to Euro Manganese. His strategic vision and steady guidance have been instrumental in positioning the company for the next stage of growth."

During his tenure as director of corporate development at Allkem Ltd., Mr. Anthon led the company's corporate development activities while it evolved from a junior explorer to a major industry player, navigating a successful IPO (initial public offering) and playing a key role in Allkem's $16-billion (Australian) merger with Livent to create Arcadium Lithium, now one of the world's largest lithium producers and a NYSE-listed company that is being acquired by Rio Tinto. He currently serves as chairman of the board at Savannah Resources, a European-focused lithium producer, as well as chairman of Greenwing Resources Ltd., which has lithium brine operations in Argentina and a graphite project in Madagascar. Mr. Anthon is also chairman of Rapid Lithium Ltd., which is focused on lithium exploration in South Dakota, and non-executive director at Savannah Goldfields Ltd.

John Webster, Euro Manganese's outgoing chairman, said: "Serving as Euro Manganese's chairman has been an honour. We have an extremely capable and enthusiastic management team, and with Rick joining as chairman I am confident that this team will continue to execute on this next chapter of the company's strategic vision and plans. I look forward to continuing to work with management and my fellow board members to develop the Chvaletice manganese project and enhance value for all shareholders."

Financing update

TSX-V conditional approval

The company also announces that the financing has received conditional approval from the TSX Venture Exchange. The TSX-V's final acceptance of the financing is conditional upon the company satisfying the filing requirements set forth in the conditional approval letter.

Completion of the financing is also conditional upon receipt of the necessary shareholder approvals to be obtained at the company's upcoming annual general and special meeting of shareholders to be held virtually on May 15, 2025. The company will mail meeting materials to shareholders in due course and encourages all shareholders to vote in advance of the meeting by returning their proxy or voting instruction form.

Share purchase plan (SPP)

The company also confirms a revised launch date of the SPP for later in April (see below), details of which were initially announced on March 6, 2025, and initially updated on April 1, 2025, for aggregate gross proceeds of $1.5-million (Australian) (approximately $1.4-million). On April 1, 2025, Orion OMRF (BK) LLC agreed that if there is a shortfall between the maximum amount of the SPP and the total number of securities taken up under the SPP, Orion will subscribe for the securities up to a maximum of $1.5-million (Australian) on the same terms as the SPP, subject to regulatory requirements, any required regulatory and shareholder approvals, and completion of the financing and SPP.

About Euro Manganese Inc.

Euro Manganese is a battery materials company focused on becoming a leading producer of high-purity manganese for the electric vehicle industry. The company is advancing development of the Chvaletice manganese project in the Czech Republic and an early stage opportunity to produce battery-grade manganese products in Becancour, Que.

The Chvaletice 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.

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