Nuclear Vision to Acquire Manganese Carbonate Projects in Slovakia’s “Battery Belt”
Nuclear Vision to Acquire Manganese Carbonate Projects in Slovakia’s “Battery Belt”
Vancouver, BC – January 21, 2026 – Nuclear Vision L imited (“Nuclear Vision ” or the
“Company”)(CSE: NUKV) is pleased to announce that it has entered into a definitive agreement to acquire
a 100% interest in two manganese carbonate projects, Svabovce and Michalova (together, the
“Projects”), located in the heart of Slovakia’s emerging "Battery Belt" (the “Acquisition”).
The Acquisition positions the Company as an early mover in the European Union’s quest for domestic
mineral sovereignty. The Projects are strategically located within 300 kilometers of major automotive and
battery manufacturing hubs, including the Gotion -InoBat gigafactory in Šurany and Volvo’s upcoming EV
facility in Košice.
Highlights
• The Carbonate Advantage: Nuclear Vision is acquiring strategically positioned manganese
carbonate (MnCO 3) deposits in Slovakia . Unlike typical oxide deposits, the Projects host
manganese in carbonate form. This can enable direct acid leaching, bypassing the energy -
intensive and carbon-heavy reduction roasting required for oxide ores.
• Scale:
o Michalova has a historical resource of 10.4 Mt at 9.49% Mn*(a)
o Svabovce has a historic al resource of 13.9 Mt at 14.47% Mn *(b), one of the largest
manganese deposits in the EU
* A qualified person has not done sufficient work to classify the historical estimates as
current mineral resources or mineral reserves and the Company is not treating the
historical estimates as current mineral resources or mineral reserves. See “Notes
Regarding Historical Estimates” below for further information regarding the above historical
estimates.
• Infrastructure Ready: The Projects benefit from immediate proximity to established rail, power,
and road networks, de-risking the development timeline.
• Offtake Proximity: The Projects are strategically located near prominent battery and vehicle
manufactures and gigafactories, making them well-positioned to benefit from the growing demand
for battery grade materials.
• Critical Timing: The acquisition coincides with the EU’s Critical Raw Materials Act (CRMA)
mandates and Germany’s recent €3 billion EV stimulus package 1, which favors the high -
manganese, low-cost battery chemistries (LMFP) that these assets are ideally suited to supply.
• Development Roadmap: The Company intends to advance verification work, including
confirmation programs, with the objective of completing an NI 43-101 compliant mineral resource
estimate, if warranted.
Nuclear Vision’s core focus is the development of critical mineral deposits that are integral to the energy
transition industry, leveraging strategically located assets and helping advance projects towards
commercialisation. Adding the Projects to a robust land position of uranium projects in Botswana further
diversifies the Company’s commitment to creating a well -rounded energy transition project portfolio.
Through methodical de-risking, Nuclear Vision aims to attract high -quality capital partners and beco me a
key participant in the critical mineral supply chain.
"These two projects improve our growth potential and allow us to expand our exposure to energy -critical
minerals beyond our uranium assets," said Derrick Dao, CEO of Nuclear Vision. "Manganese presents a
meaningful opportunity for Nuclear Vision, while supporting the continent’s industrial resilience.”
Notes Regarding Historical Estimates:
(a) The historical estimate for the Michalova Project was published by Slovak State Geological Institute
(ŠGÚDŠ) as part of the State Balance of Mineral Reserves in 1993 under the Slovak GKZ system. The
historical estimate is reported as 10.4 Mt at 9.49% Mn and was classified under the GKZ “alphabetical”
system ( A+B+C1+C2), which differs from CIM categories as defined under NI 43 -101. While GKZ
categories are sometimes compared conceptually with CIM categories, such comparisons are
approximations only and are not considered equivalent.
The foreign historical estimate is considered relevant as it was reportedly derived from historical drilling and
underground sampling. However, the historical estimate has limited reliability as the Company does not
currently have access to supporting info rmation including drill core and/or core photographs; detailed
sampling, sample preparation, and analytical methodology; quality assurance/quality control (QA/QC) data;
core recovery information; downhole surveys or collar survey data; or sample security i nformation.
The historical estimate was reportedly estimated using the polygonal method assuming an underground
mining scenario and prevailing metal prices at the time. Key assumptions and parameters (including
cut-off grade, bulk density, grade capping, interpolation parameters, and QA/QC procedures) are
not available to the Company at this time. The Company is not aware of any more recent mineral
resource estimates for the Project prepared in accordance with NI 43-101.
To verify the historical estimate as current mineral resources in accordance with NI 43 -101, the Company
intends to complete verification work, including a site visit and data validation, and may undertake additional
confirmation programs and modern QA/QC procedures to support an NI 43-101 compliant mineral resource
estimate, if warranted.
A qualified person has not done sufficient work to classify the historical estimate as current mineral
resources or mineral reserves and the Company is not treating the historical estimate as current mineral
resources or mineral reserves.
(b) The historical estimate for the Svabovce Project was published by Slovak State Geological Institute
(ŠGÚDŠ) as part of the State Balance of Mineral Reserves in 2000 under the Slovak GKZ system. The
historical estimate is reported as 13.9 Mt at 14.47% Mn and was classified under the GKZ “alphabetical”
system (A+B+C1+C2), which differs from CIM categories as defined under NI 43 -101. While GKZ
categories are sometimes compared conceptually with CIM categories, such comparisons are
approximations only and are not considered equivalent.
The foreign historical estimate is considered relevant as it was reportedly derived from historical drilling and
underground sampling. However, the historical estimate has limited reliability as the Company does not
currently have access to supporting info rmation including drill core and/or core photographs; detailed
sampling, sample preparation, and analytical methodology; QA/QC data; core recovery information;
downhole surveys or collar survey data; or sample security information.
The historical estimate was reportedly estimated using the polygonal method assuming an underground
mining scenario and prevailing metal prices at the time. Key assumptions and parameters (including cut -
off grade, bulk density, grade capping, interpolation parameters, and QA/QC procedures) are not available
to the Company at this time. The Company is not aware of any more recent mineral resource estimates for
the Project prepared in accordance with NI 43-101.
To verify the historical estimate as current mineral resources in accordance with NI 43 -101, the Company
intends to complete verification work, including a site visit and data validation, and may undertake additional
confirmation programs and modern QA/QC procedures to support an NI 43-101 compliant mineral resource
estimate, if warranted.
A qualified person has not done sufficient work to classify the historical estimate as current mineral
resources or mineral reserves and the Company is not treating the historical estimate as current mineral
resources or mineral reserves.
Details of the Acquisition
The Company entered into an Assignment of Option Agreement and Consent to Assignment (the
“Assignment Agreement”), dated January 21, 2026, with Private Equity Pty. and Kluane Capital FZCO
(together, the “Assignor”), both of which are arm’s length parties to the Company, whereby the Assignor
has agreed to assign to the Company all of its rights, title and interest in an existing Option to Purchase
Agreement dated January 14, 2026 (the “ Option Agreement ”) with VMS Exploration S.R.O. (“ VMS”)
(the “Assignment”). Under the Option Agreement, the Assignor held an option to acquire a 100% interest
in the mineral titles comprising the Projects held by VMS. The Company has agreed to assume the
obligations of the Assignor under the Option Agreement.
Pursuant to the terms of the Assignment Agreement and subject to receipt of all necessary regulatory
approvals and the satisfaction of customary closing conditions, the Company will provide the following
consideration to the Assignor and VMS:
• a €100,000 cash payment; and
• 10,000,000 common shares of the Company (the “ Nuclear Shares”), to be issued pursuant to an
exemption from prospectus requirements of applicable securities laws.
The number of Nuclear Shares issuable will be adjusted for any capital reorganization to preserve the
Assignor’s proportionate entitlement.
Further, the Assignor and Assignee have provided customary representations and warranties including, but
not limited to, authority, enforceability and absence of conflicting obligations.
The Nuclear Shares are not registered under the United States Securities Act of 1933, as amended or the
securities laws of any state of the United States. The Nuclear Shares will be subject to a statutory hold
period expiring four months and one day after the date of issuance, as set out in National Instrument 45 -
102 – Resale of Securities.
Concurrent Financing
In connection with the Acquisition, the Company is pleased to announce a non-brokered private placement
(the "Offering") of 20,000,000 units (each, a " Unit") at a price of $0.25 per Unit for gross proceeds of
$5,000,000.
Each Unit will consist of one common share of the Company (a "Share") and one-half of one common share
purchase warrant (each whole warrant, a " Warrant"). Each Warrant will entitle the holder to purchase one
additional Share at a tiered exercise price for a period of 24 months from the date of issuance as follows:
• $0.375 per Share if exercised within the first 12 months following the closing date;
• $0.50 per Share if exercised after 12 months but on or before 24 months following the closing
date.
The Company intends to use the net proceeds from the Offering to fund the advancement of the Svabovce
and Michalova manganese projects in Slovakia and for general working capital purposes.
All securities to be issued pursuant to the Offering will be subject to a statutory four -month and one day
hold period. Finder's fees may be payable in connection with the Offering, all in accordance with the policies
of the Canadian Securities Exchange (the "CSE").
None of the securities sold under the Offering have been and will not be registered under the United States
Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States
absent registration or an applicable exemption from the registration requirements. This news release shall
not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities
in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.
Europe’s Critical Mineral Challenge
Europe has been grappling with a historical underinvestment in its mining sector, leading to virtually no
domestic production of certain minerals. This has resulted in an economic model heavily reliant on
imports, primarily from China, which currently supplies over 90% of High Purity Manganese (HPM). The
transition to greener, local supplies is now emerging as a priority mandated by the European Union with
the recent European Critical Minerals Act and Environmental, Social, and Corporate Governance (ESG)
style investment groups.
Additionally, the evolving battery composition necessitates a higher Manganese (Mn) content, particularly
with Lithium Manganese Ferro Phosphate (LMFP) batteries emerging as a potential dominant product 2.
The Company anticipates that the Projects will offer strategically located, drill-ready targets with the
potential to provide manufacturers with local EU products, reducing the dependency on overseas
sources.
Advancing the Energy Transition: Introduction to Nuclear Vision’s European Manganese Projects
Nuclear Vision is excited to announce its focus on several critical manganese projects within the European
Union, in line with our vision of contributing to the global energy transition. These projects are of particular
importance, given the important role of manganese in the manufacture of batteries, and in reducing
Europe's dependence on imported High Purity Manganese.
Production of High Purity Manganese3,4:
• Manganese ore occurs mostly as a carbonate or oxide (5% - +50%).
• Typically, the carbonate ore will be less rich in grade (closer to the 5%-10%).
• Manganese ore is produced in nearly 20 countries, but processing this ore into high
purity Manganese is monopolised by China (92% of global capacity).
o Based on demand and lack of processing capacity there is likely to be a deficit
of high purity Manganese metal and high purity Manganese sulphate.
• Carbonate ores are comparatively rare and are easily leachable with sulfuric acid ,
providing a processing advantage.
o Carbonate ores are mostly used in EMM, EMD and MnSO4 due to this
characteristic compared with Oxide ore which are more commonly used in the
steel industry.
• China has developed technologies for batteries to replace 40% to 60% of the Iron in
Lithium Ore Phosphate batteries with Manganese to produce Lithium Ore Manganese
Phosphate.
• The important difference for battery manufacturers is not in the percentage of
Manganese grade (%) but in the various impurities
Subject to closing the Acquisition, a brief overview of Nuclear Vision’s manganese carbonate projects in
Slovakia is provided below.
Figure 1 Location map
Michalova Manganese Project
The Michalova Manganese deposit is a carbonate -hosted, shallow flatbed deposit, with historical
exploration drilling (Figure 2). Located 50km southeast of the city of Brezno (Figure 1) the project is
contained within a granted 14.34 km2 tenement. While the previous works are undergoing verification works
to report inline with the NI 43-101 standards, there is a historical resource estimate of 10.4 Mt at 9.49%
Mn(1) (see “Notes Regarding Historical Estimates” above ) classified by the S lovak State Geological Body.
Importantly, this project has already seen historic small-scale mining and some initial metallurgical
operations, providing valuable initial insights for our team.
Whilst the current deposits are constrained from surface to~30m depth , two historical holes drilled in 1954
have indicated the presence of multiple separate Manganese carbonate beds throughout depths ranging
from ~30 to 70m in MS-1 and again from ~40m to ~200m as Mn-carbonate interbeds with Mn-bed horizons
at ~75 and 170m, i n M -171 as shown in Table 1. With these intercepts requiring further drill test, this
highlights the exceptional exploration potential across the property (Figure 3).
Figure 3 Plan view of tenement with Historical Drillholes
Hole ID From (m) To (m) interval (m) Lithology Stratigraphy
MS-1 28.60 29.00 0.40 Mn-carbonates Eocene
MS-1 32.20 33.00 0.80 Mn-carbonates Eocene
MS-1 37.50 37.60 0.10 Mn-carbonates Eocene
MS-1 37.90 38.20 0.30 Mn-carbonates Eocene
MS-1 43.10 43.75 0.65 Mn-carbonates Eocene
MS-1 48.20 48.60 0.40 Mn-carbonates Eocene
MS-1 52.00 52.40 0.40 Mn-carbonates Eocene
MS-1 60.00 61.00 1.00 Mn-carbonates Eocene
MS-1 69.50 70.00 0.50 Mn-carbonates Eocene
MS-1 49.00 49.10 0.10 Mn-carbonates Paleogene
MS-1 56.00 56.30 0.30 Mn-carbonates Paleogene
MS-1 58.00 59.00 1.00 Mn-carbonates Paleogene
MS-1 76.00 77.00 1.00 Mn-carbonates Paleogene
MS-1 132.60 132.70 0.10 Mn-carbonates Paleogene
Table 1 Historical Drill Intercepts out of the historical resource estimate
Source: Company internal data from historical drill hole
Figure 3. Plan view with cross Section with intercepts.
Source: Company internal data
The Michalova Manganese Project aligns with Nuclear Vision's objective to develop critical mineral deposits
that play an important role in the global energy transition. The project is anticipated to provide a local, EU
product that assists in reducing the European battery manufacturers' reliance on High Purity Manganese
imports, thereby offering a greener, more sustainable supply chain.
Svabovce Manganese Project
The Svabovce Project comprises a 47.24 km² granted exploration license with a four -year term. Notably,
this location boasts a historical resource estimated at 13.9 Mt at 14.47% Mn (2) (see “Notes Regarding
Historical Estimates” above). The deposit was open cut mined from the 1850s until 1907, with underground
mining operations continuing until 1971 with historical drilling currently being verified.
The local geology is characterised by an outcropping slightly dipping manganese mineralisation seam
situated between underlying carbonates and overlying siltstones. This sediment -hosted manganese
carbonate deposit extends to 250m depth, offering exploration potential.