Euro Manganese Announces Positive Preliminary Economic Assessment

About this update from Euro Manganese, Inc.

EMN Responds to Market with Solid Economics, Increased Recoveries, and New Commercial Plant OptionalityVancouver, British Columbia--(Newsfile Corp. - May 14, 2026) - Euro Manganese Inc. (TSXV: EMN) (ASX: EMN) (FSE: E060) and its subsidiary Mangan Chvaletice, s.r.o. ("Mangan" and together the "Company", "Euro Manganese" or "EMN") is pleased to announce the results of a new Preliminary Economic Assessment ("PEA") for the development of its Chvaletice Manganese Project ("Chvaletice Manganese Project", "CMP", or "Project") in the Czech Republic.The PEA is a result of the Company's Optimization Program previously announced1, and builds on the extensive knowledge presented in the Company's Technical Report and Feasibility Study for the Chvaletice Manganese Project, Czech Republic, dated effective July 27, 2022[2], (the "2022 Feasibility Study"). The PEA responds to current market conditions and incorporates the Company's testing campaigns, demonstration plant learnings, and prospective customer testing and feedback to provide an updated preliminary and conceptual development path for the Chvaletice Manganese Project. With most permits secured, a finalized Environmental Impact Assessment ("ESIA"), and official designation as a Strategic Deposit under Czech law and a Strategic Project under the EU Critical Raw Materials Act, Euro Manganese is ready to respond to customers seeking a fully traceable battery-grade manganese supply chain, reducing dependence on Chinese sources and supporting strategic mineral independence objectives. The Chvaletice Manganese Project is well placed to take advantage of U.S. federal procurement and incentive frameworks that increasingly require that critical battery materials — including high-purity manganese used in electric vehicle and energy storage applications — be sourced from allied and US National Defense Act ("NDAA") compliant nations. The Czech Republic, as a NATO member and close U.S. ally, qualifies as an NDAA-compliant source country.HIGHLIGHTS(All economic values are in US dollars unless indicated otherwise)Strong Operating Margin of 48%, demonstrating resilience of the Project and the potential to generate significant returns across commodity price cycles.Robust Returns: Pre-tax IRR of 16.0% and Post-tax IRR of 13.8%, underpinned by a pre-tax NPV of $740M and post-tax NPV of $492M (8% discount rate), showing favorable pr...

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