Euro Manganese’s Chvaletice Feasibility Test Work Returns Positive Results
Euro Manganese’s Chvaletice Feasibility Test Work Returns Positive Results
• Ongoing Feasibility Study test work supports key PEA results;
• 55% of Demonstration Plant capacity now allocated to customers;
• Discussions underway with other parties to allocate remaining samples from the plant’s first year of
production; and
• Admission as a member of the European Battery Alliance.
VANCOUVER, British Columbia, March 02, 2020 -- Euro Manganese Inc. (TSX-V/ASX: EMN) (the " Company" or " EMN") is
pleased to announce feasibility study test work for its Chvaletice Manganese Project has returned positive results and the
Company has received increased interest for samples from its Demonstration Plant.
Feasibility Study Test Work Supports Key PEA Results
The Project’s feasibility study test work has been underway since October 2019 at the laboratory facilities of lead process
plant engineers, BGRIMM Technology Group. Test work is progressing well, with both magnetic separation and deep
purification confirmation tests now substantially complete. Magnetic separation test results verified those previously reported
in the Preliminary Economic Assessment (“PEA”) 1 with results of approximately 85% tMn (total manganese) recovery and a
15% tMn concentrate grade, supporting the viability of this important step in the proposed process flow sheet. Deep
purification tests have also verified previous test findings, with the successful removal of target product impurities. These tests
have the ultimate objective of supporting and optimizing the Project’s capability to deliver ultra-high purity electrolytic
manganese metal (“HPEMM”) and manganese sulphate monohydrate (“HPMSM”). As part of the verification of the project
reagent supply chain, samples have been obtained from various European suppliers in order to verify reagent suitability and to
ensure the Company’s stringent product quality targets are met, as well as to optimize dosage, with the objective of reducing
operating costs.
Chvaletice Demonstration Plant Capacity allocated to Prospective Customers reaches 55%
As reported on February 3, 2020, the Company has received considerable interest from potential customers in procuring high-
purity manganese products from its Chvaletice Manganese Project demonstration plant, for testing and supply chain
qualification.
The Company recently signed another memorandum of understanding with a global chemical and specialty materials company
for testing and qualification of the high-purity manganese products from its Chvaletice Manganese Project demonstration
plant. The intended use is the production of precursor materials for ferrite permanent magnet manufacturing.
As a result, approximately 55% of the demonstration plant’s planned first year production has now been allocated to five
potential customers for testing and supply chain qualification. The demonstration plant will produce HPEMM and HPMSM.
The supporting parties and their markets include: a global leading participant in the lithium-ion battery supply chain, for use in
NMC cathodes; a company focused on large scale lithium-ion battery manufacturing, for use in NMC cathodes; two global
chemicals and specialty materials companies; and a major steel producer, for use in specialty steel applications. Upon
successful completion of testing and evaluation by these and other parties, and subject to a production decision being made
based on the results of the feasibility study, the Company anticipates entering into offtake agreement negotiations with some
or all of these parties to support financing of construction.
Discussions and negotiations are ongoing with several parties in Europe, Asia and North America. EMN expects to allocate
the remainder of the demonstration plant’s initial year of production in the near term.
EMN Admitted to European Battery Alliance
The Company’s wholly-owned Czech subsidiary, Mangan Chvaletice s.r.o., has been admitted as a member of the European
Battery Alliance (“EBA”), an organization which aims to ensure that all Europeans benefit from safer traffic, cleaner vehicles
and more sustainable technological solutions, through the creation of a competitive and sustainable battery cell manufacturing
value chain in Europe.
The European Battery Alliance is a unique platform for key stakeholders throughout the entire European battery value chain.
The network includes the European Commission, EU member states, the European Investment Bank and more than 400
industrial, innovation and academia stakeholders. The objective is to build a strong pan-European battery industry that will help
Europe capture a growing market worth an estimated €250 billion per year from 2025. For more information on the European
Battery Alliance, visit www.eba250.com.
EBA membership provides EMN with an opportunity to be at the table with Europe’s leading Electric Vehicle and lithium-ion
battery industry, government and academic participants, and to make a contribution to the building of a sustainable European
lithium-ion battery supply chain.
About Euro Manganese:
Euro Manganese Inc. is a Canadian mineral resource company whose focus is to develop the 100% owned Chvaletice
Manganese Project in the Czech Republic. The Project will re-process historic tailings which contain the largest manganese
deposit in Europe which is a major emerging electric vehicle manufacturing hub. EMN's goal is to be the preferred European
supplier of ultra-high-purity manganese products for the lithium-ion battery industry with secondary markets that include
producers of specialty steel, high-technology chemicals and aluminum alloys.
Contact:
Euro Manganese Inc.
Marco A. Romero
President & CEO
(604)-681-1010 ext. 101
Fausto Taddei
Vice President, Corporate Development & Corporate Secretary
(604)-681-1010 ext. 105
E-mail: [email protected]
Website: www.mn25.ca
Company Address:
1500 – 1040 West Georgia Street,
Vancouver, British Columbia, Canada, V6E 4H8
Competent Persons and Qualifying Person Statements
The technical information in this news release relating to the Chvaletice Manganese Project feasibility study is based on
information reviewed by Dr. Jianhui (John) Huang, Ph.D., P. Eng., Senior Metallurgical Engineer, Tetra Tech Canada Inc, who
is a member of the Engineers and Geoscientists of British Columbia. Dr. Huang is a consultant to the Company and has
sufficient experience in the activity undertaken to qualify as a Competent Person as defined in the 2012 edition of the
Australasian Code for Reporting of Exploration Results, Mineral Resource and Ore Reserves and is a Qualified Person under
National Instrument 43-101 – ‘Standards of Disclosure for Mineral Projects’. Dr. Huang consents to the inclusion in this news
release of the matters based on this information in the form and context in which it appears.
In addition, technical information concerning the Chvaletice Manganese Project is reviewed by Ms. Andrea Zaradic, P. Eng.,
EMN’s Senior Project Director, and a Qualified Person under NI 43-101. Ms. Zaradic has reviewed and approved the
information in this news release for which she is responsible and has consented to the inclusion of the matters in this news
release based on the information in the form and context in which it appears.
The technical reports relating to PEA are available to view on the Company’s website at www.mn25.com and on the ASX’s
Market Announcement Platform. The Company confirms that it is not aware of any new information or data that materially
affects the information included in the original market announcement dated January 30, 2019 and that all material assumptions
in the market announcement continue to apply and have not materially changed.
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 projects, 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, without limitation, statements regarding the Company’s intentions
regarding the Chvaletice Manganese Project in the Czech Republic, including without limitation, the continued evaluation and
development of the Project , the building of the demonstration plant, the production and delivery of high purity manganese
products and the ability of the Company to negotiate offtake agreements with potential customers.
Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward-looking statements
and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results
and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could
cause actual results to differ materially from the results discussed in the forward-looking statements or information, including,
but not limited to, the factors discussed under “Risks Notice” and elsewhere in the Company’s MD&A, as well as the inability
to obtain regulatory approvals in a timely manner; the potential for unknown or unexpected events to cause contractual
conditions to not be satisfied; unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities;
the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity
prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support
continued exploration, studies, development or operations.
Although the forward-looking statements contained in this news release are based upon what 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.
The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of
the factors set forth in the “Risks Notice” section and elsewhere in the Company’s MD&A for the year ended September 30,
2019 and its Annual Information Form for that year.
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.
1 The results of the PEA were announced on January 30, 2019 in a news release entitled “Euro Manganese Announces PEA
Results for Chvaletice Manganese Project with an after-tax Net Present Value of US$593 Million.” The NI 43-101 Technical
Report with an effective date of January 29, 2019 and entitled "Technical Report and Preliminary Economic Assessment for
the Chvaletice Manganese Project Chvaletice, Czech Republic," as prepared by Tetra Tech Canada Inc., was filed on SEDAR
on March 15, 2019. The JORC Code Report with an effective date of January 29, 2019 and entitled “Public Report and
Preliminary Economic Assessment of the Chvaletice Manganese Project, Chvaletice, Czech Republic, ” as prepared by Tetra
Tech Canada Inc., was lodged on the ASX on March 26, 2019.