Mr. Marco Romero reports

EURO MANGANESE INCREASES PRIVATE PLACEMENT TO $4 MILLION

Euro Manganese Inc. has increased its previously announced private placement to 66,202,210 common shares for aggregate gross proceeds of $4.04-million (Canadian) ($4.27-million (Australian)). As previously announced, the 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.

Pursuant to the offering, the company now intends to issue 11,979,682 shares and 54,222,528 Chess depositary interests (CDIs, with each CDI representing one share), at a price of 6.1 Canadian cents per share (6.5 Australian cents) per CDI. The offering will close in two tranches. The first tranche, which closed on July 9, 2020, comprised 5,155,738 shares and 16,344,262 CDIs. The second tranche will now consist of the issuance of 6,823,944 shares and 37,878,266 CDIs for aggregate gross proceeds of $2.73-million (Canadian), such tranche being subject to shareholder approval under the rules of the Australian Securities Exchange, to be sought at a meeting of shareholders to be held by the company in August, 2020.

Fees payable in connection with the offering remain the same as previously announced. While CDIs issued pursuant to the offering will be free trading, the shares issued will be subject to a four-month-and-one-day statutory hold period. The offering remains subject to the approval of the TSX Venture Exchange.

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.