Euro Manganese Completes Land Access Agreement with CEZ
1
NR 2023-18
Euro Manganese Completes Land Access Agreement with CEZ
VANCOUVER, British Columbia (October 30, 2023) – Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQX:
EUMNF; Frankfurt: E06) (the "Company" or "EMN") is pleased to announce that it has signed a Lease
Agreement (the "Agreement") with CEZ a.s. ("CEZ") for access to land owned by CEZ that is required for
the development of the Chvaletice Manganese Project (the "Project").
Highlights
• Land access to approximately 60% of the Proven + Probable manganese Reserves in the Chvaletice
tailings area secured via the Lease Agreement with CEZ.
• The Lease Agreement rent is based on a revenue royalty. The r oyalty mechanism allows
anticipated project finance debt covenants to be met.
• Together with previously announced land access agreements, t he Company has now secured
access to approximately 85% of the total Reserves of the Project.
Euro Manganese and CEZ (the "Parties"), have signed a definitive Lease Agreement granting the Company
access to CEZ-owned land in the historic Chvaletice tailings area. Approximately 60% of the Project’s 27
million tonne Proven + Probable manganese Reserves sit upon land owned by CEZ. The Agreement also
includes land required for mining infrastructure and tailings transportation.
Land access will be granted in return for a royalty on gross sales from the Project. During the seven-year
project finance debt period (the "Debt Period"), the royalty will operate on a sliding scale from 0.2% to
1.8%, dependent on the average prices received for the Project’s high -purity manganese products . This
sliding scale royalty is designed to ensure anticipated project finance debt covenants are met. Post the
Debt Period, the royalty will be 1.8% of gross sales from the Project.
The Company now has access to approximately 85% of the total Proven + Probable manganese Reserves
required for the Project. As previously announced, the Company has secured all land required for the
commercial plant site.
Dr. Matthew James, President & CEO of Euro Manganese, commented:
“We are very pleased to work together with CEZ to realise this nationally important, strategic raw material
project within the Czech Republic. High-purity manganese, an essential component in most lithium -ion-
batteries, will play a critical role in the energy transition within Europe. As the only manganese resource
within the EU, the Project will create skilled jobs in the region, stimu late the local economy and generate
taxes and revenues for the Czech Government. The Company looks forward to continuing the positive
relationship established with CEZ into the future.”
2
About Euro Manganese
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 exploring an early -stage opportunity to produce ba ttery-
grade manganese products in Bécancour, Québec.
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.
Euro Manganese is dual-listed on the TSXV and the ASX, and is also traded on the OTCQX.
About CEZ
CEZ is one of the largest companies in the Czech Republic and a leading energy group operating in
Western and Central Europe. CEZ Group has committed to set an example and make the energy sector
sustainable, more environmentally friendly, and conscious in regard to our planet. In its business, CEZ
Group follows strict ethical standards, including taking a responsible approach to its employees, society,
and the environment. A priority for CEZ is greater diversity, closer cooperation with communities, and
an approach to customers that is as accommodating as possible, offering them the best technological
and energy-efficient solutions.
The foundation of power generation at CEZ Group are emission-free sources. The CEZ strategy named
Clean Energy for Tomorrow is based on ambitious decarbonisation, development of nuclear energy, and
a significant increase in the number of renewable sources of energy that we build for our customers’
needs. Recently, CEZ announced that it would move forward its climate-neutrality commitment by ten
years, to 2040.
Stifel Nicolaus Europe Limited acted as financial advisor to the Company and continues as the exclusive
project finance advisor for the Chvaletice Project.
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 t he ASX accepts responsibility for the adequacy or accuracy of t his
release.
Inquiries
Dr. Matthew James
President & CEO
Louise Burgess
Senior Director, Investor Relations & Communications
+1 (604) 312-7546
3
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, its North American growth strategy, 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 include, but are not limited to, statements regarding the
Company’s intentions regarding the development of the Chvaletice Project in the Czech Republic, its
ability to meet anticipated project finance covenants, that the Project will create skilled jobs in the region,
stimulate the local economy and generate taxes and revenues for the Czech Government, its ability to
acquire the remaining surface rights, and statements regarding the strategic importance of the Project
and the part high purity manganese will play in the energy transition in Europe.
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 tho se 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 .
All forward -looking statements are made based on the Company's current beliefs including various
assumptions made by the Company, including that: the Company can achieve its goals; that the political
and community environment in which the Company operates in will continue to support the development
and operation of the Chvaletice Project; and assumptions related to the factors set out herein. Factors that
could cause actual results or events to differ materially from current expectations include, among other
things: risks and uncertainties related to the ability to obtain, amend, or maintain necessary licenses, or
permits; unexpected delays receiving a decision on the ESIA; the availability of acceptable financing for
developing and advancing the Chvaletice Project; 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.
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.