VANCOUVER, British Columbia, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQX: EUMNF; Frankfurt: E06) (the "Company") announced today that it’s wholly owned subsidiary, Mangan Chvaletice s.r.o. (“Mangan Chvaletice”), has secured the Determination of Mining Lease permit (the “Permit”), marking the next critical milestone towards the development of the Chvaletice Manganese Project (the "Project") in the Czech Republic.
The Permit, issued by the District Mining Authority for the regions of Hradec Králové, Pardubice, Liberec, and Vysočina, represents one of the most significant approvals in the Company’s journey towards full project permitting. Effective 23 January 2025, the Permit replaces all prior authorizations and has no expiration date. It provides Mangan Chvaletice with exclusive, unrestricted rights to mineral extraction within the designated area and ensures robust legal protection of the project area, enabling the Company to proceed with the Project’s next phases on an exclusive basis.
Martina Blahova, Interim CEO of Euro Manganese, commented:
"The granting of the Mining Lease for the Project marks another significant milestone for Euro Manganese. This achievement highlights a successful collaboration between Euro Manganese, federal and regional regulators and host communities, underscoring a shared commitment to the Project’s progress. A key asset for Company, the Permit grants exclusive, unrestricted legal rights to extract mineral resources with no expiration date. This brings Euro Manganese closer to establishing a commercial-scale facility for the production of high-purity manganese—an essential material for the transition to a greener economy and the global effort to decarbonize our planet.”
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 battery-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.
Authorized for release by the Interim CEO of Euro Manganese Inc.
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Enquiries
Martina Blahova Interim Chief Executive Officer +1 (604) 681-1010 martina@mn25.ca
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 include, but are not limited to, statements regarding the Company’s intentions regarding the development and advancement of the Chvaletice Project , ability of the Company to proceed with the Project’s next phases, achieve full project permitting, and construct its facility for producing high-purity manganese, and the Company's ability to finance the development of the Project.
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.
All forward-looking statements are made based on the Company's current beliefs including various assumptions made by the Company and information currently available to the Company. 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; risks related to acquisition of surface rights; risks related to granting security; securing sufficient offtake agreements; the availability of acceptable financing for developing and advancing the Chvaletice Project and for continued operations; the availability and reliability of equipment, facilities, and suppliers necessary to complete development; the ability to develop adequate processing capacity with expected production rates; the potential for unknown or unexpected events to cause contractual conditions to not be satisfied; developments in EV (Electric Vehicles) 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, 2024, available on the Company's SEDAR+ profile at www.sedarplus.ca.
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.
