Nano One and Euro Manganese Validate Manganese Metal in M2CAM Process

VANCOUVER, Sept. 27, 2022 - Nano One^® Materials Corp. (TSX: NANO; OTC: NNOMF; Frankfurt: LBMB) ("Nano One")

VANCOUVER, Sept. 27, 2022 - Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQX: EUMNF; Frankfurt: E06) ("Euro Manganese")

Highlights:

• The companies have jointly demonstrated cathode materials made directly from Euro Manganese sourced electrolytic manganese metal using Nano One's One-Pot Process.
• Euro Manganese has produced EV grade high-purity electrolytic manganese metal ("HPEMM") from its pilot plant using feedstock from its Chvaletice Manganese Project in the Czech Republic.
• Nano One's patented One-Pot process enables cathode materials to be made directly from metals ("M2CAM^®") and lithium carbonate, for reduced complexity, cost, and environmental footprint.
• Results align with automotive battery demands in Europe and North America for sustainably sourced critical minerals and environmentally superior and differentiated supply chains.

Nano One^® is a clean technology company with patented processes for the low-cost, low-environmental footprint production of high-performance cathode materials used in lithium-ion batteries, and Euro Manganese is a battery raw materials company developing a significant manganese deposit in the Czech Republic. Both companies are pleased to announce progress made under their Joint Development Agreement.

The two companies are jointly developing economically viable and environmentally sustainable applications of high-purity electrolytic manganese metal ("HPEMM") as one of several inputs for the production of cathode active materials used in lithium-ion batteries. In this first milestone, pilot plant samples from Euro Manganese's Chvaletice Manganese Project have been successfully validated as feedstock for Nano One's patented One-Pot and M2CAM cathode production technologies. This avoids the added cost, complexity, and environmental footprint of using metal sulphates in cathode production.

"We are demonstrating the production of cathode materials made directly from high purity metals," said Nano One CEO Mr. Dan Blondal, "and I am pleased to announce that we have now done so with electrolytic manganese metal from Euro Manganese. This strategy eliminates capital and environmentally intensive chemical conversion steps, eliminates large volumes of wasteful by-product and aligns us with legislation in North America and Europe to fast-track battery supply chains from secure and readily available sources of critical minerals. Nano One has ambitious plans to be a participant in the battery driven transformation of mobility and renewable energy storage, and we are pleased to be blazing this trail with Euro Manganese."

Dr. Matthew James, Euro Manganese's CEO, said, "We are delighted to be working with Nano One on developing ways to use our manganese metal in its ground-breaking process for making cathode active materials at a time when demand for high-purity manganese products is rising rapidly. Euro Manganese's production process, which has the flexibility to produce both a high purity manganese metal product as well as a high purity manganese sulphate product, allows us to adapt to meet demand from this important cost and environmental beneficial process developed by Nano One. Euro Manganese stands to become the leading environmentally responsible producer of high purity battery grade manganese products and we look forward to commissioning our larger demonstration plant at our Chvaletice site in Q4 2022. We also look forward to a day when our manganese and Nano One's cathode materials are an integral part of the world's battery supply chain and help create a cleaner world by enabling the green energy transition."

About Nano One:

Nano One^® Materials Corp (Nano One) is a clean technology company with a patented, scalable and low carbon intensity industrial process for the low-cost production of high-performance lithium-ion battery cathode materials. The technology is applicable to electric vehicle, energy storage, consumer electronic and next generation batteries in the global push for a zero-emission future. Nano One's One-Pot process, its coated nanocrystal materials and its Metal to Cathode Active Material (M2CAM^®) technologies address fundamental performance needs and supply chain constraints while reducing costs and carbon footprint. Nano One has received funding from various government programs and the current "Scaling of Advanced Battery Materials Project" is supported by Sustainable Development Technology Canada (SDTC) and the Innovative Clean Energy (ICE) Fund of the Province of British Columbia. For more information, please visit www.nanoone.ca

Changing how the world makes battery materials

About Euro Manganese:

Euro Manganese Inc. is a battery materials company focused on becoming a leading, competitive, and environmentally superior producer of high-purity manganese for the electric vehicle industry and other high-technology applications. Euro Manganese is advancing development of the Chvaletice Manganese Project in the Czech Republic, which is a unique waste-to-value recycling and remediation opportunity involving reprocessing old tailings from a decommissioned mine. The Chvaletice Project is the only sizable resource of manganese in the European Union, strategically positioning it to provide battery supply chains with critical raw materials to support the global shift to a circular, low-carbon economy. For more information, please visit www.mn25.ca.

This announcement was authorized for release by the CEOs of Euro Manganese and Nano One.

FORWARD LOOKING INFORMATION

Certain information contained herein may constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable securities regulations. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking information in this news release includes, but is not limited to, statements with respect to: the intent and execution of Nano One and Euro Manganese's (together, the "Companies") plans, which are contingent on the commercialization of Nano One's technology and patents and statements with respect to the continued development of Euro Manganese's proposed Chvaletice Manganese Project; the ability of Euro Manganese to make certain high purity manganese products, as required by Nano One; the anticipated demand for high-purity manganese; and statements with respect to the ability of the Companies for co-development of applications for high-purity manganese in cathode materials. Generally, forward-looking information can be identified by the use of terminology such as 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing', target', 'goal', 'potential' or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the current opinions and estimates of management of the Companies as of the date such statements are made and are not, and cannot be, a guarantee of future results or events. Although management of the Companies have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. These forward-looking statements involve numerous known and unknown risks, assumptions and uncertainties, and other factors that may cause the actual results, level of activity, performance or achievements of the Companies to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Risks, assumptions and uncertainties including but not limited to: Nano One's closing of the pending acquisition of the Candiac facility in Québec, the Companies' ability to achieve their stated goals, reduced demand for the Companies' potential products, availability of materials, risks related to foreign operations and other risk factors as identified in Nano One's MD&A and its Annual Information Form dated March 28, 2022, both for the year ended December 31, 2021, and in Euro Manganese's Annual Information Form dated December 16, 2021, for the year ended September 30, 2021, and in recent securities filings for the Companies which are available at www.sedar.com. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Companies do not undertake any obligation to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

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