Mr. Marco Romero reports

EURO MANGANESE ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT

On July 9, 2020, Euro Manganese Inc. closed the first tranche of the private placement announced on July 6, 2020.

The first tranche of the offering comprised 5,155,738 common shares and 16,344,262 CHESS depositary interests (CDIs) at a price of 6.1 cents per share and 6.5 Australian cents per CDI, respectively, for aggregate gross proceeds of $1,311,500.

The second tranche of the offering, consisting of 6,823,944 shares at a price of 6.1 cents per share and 34,801,343 CDIs at a price of 6.5 Australian cents per CDI for aggregate gross proceeds of $2,539,142, is expected to close in mid-August, 2020, subject to and following approval by the company's shareholders as required by listing rules 10.11.1 and 7.1 of the Australian Securities Exchange.

Aggregate gross proceeds under tranche 1 and 2 of the offering are expected to be approximately $3.85-million. Net proceeds of the offering will be used by the company to further progress its Chvaletice manganese project in the Czech Republic, including advancing the feasibility study and environmental impact assessment, and for other general corporate purposes. Canaccord Genuity (Australia) Ltd. acted as lead manager and bookrunner to the offering, with Bacchus Capital Advisers Ltd. acting as financial adviser to the company. Fees payable in cash by the company in connection with the offering will consist of a management fee of 1 per cent of the aggregate gross proceeds from the offering and a selling and/or finder's fee of 5 per cent of the aggregate gross proceeds from the offering. Shares issued pursuant to the first tranche of the offering are subject to a four-month-and-one-day statutory hold period expiring on Nov. 10, 2020.

About Euro Manganese Inc.

Euro Manganese is a Canadian mineral resource company focused on the development of the Chvaletice manganese project in the Czech Republic. The project will recycle historic mine tailings that host Europe's largest manganese deposit and result in an environmental remediation of this site.

We seek Safe Harbor.