Euro Manganese Inc. (Company) announced that it has signed a Lease 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"). 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.