Toronto, Ontario--(Newsfile Corp. - August 14, 2024) - Canadian Manganese Company Inc. (CBOE CA: CDMN) ("CDMN" or the "Company") reports its financial results for the second quarter ended June 30, 2024.

This news release should be read in conjunction with the Company's condensed interim consolidated financial statements and associated management's discussion and analysis for the three and six months ended June 30, 2024, which are available on the Company's website at www.CanadianManganese.com or under the Company's profile at www.sedarplus.ca.

FINANCIAL RESULTS FOR THE SECOND QUARTER ENDED JUNE 30, 2024

During the second quarter of 2024 the Company continued its focus of advancing the Woodstock manganese project, which includes the adjacent Plymouth and Hartford deposits, near Woodstock, New Brunswick.

During the second quarter, the Company recorded a loss of $768,601, which included interest expense on convertible debenture of $178,658, accretion expense on convertible debenture of $237,170 and corporate development expenses of $87,040. In the previous year's second quarter, the Company recorded a loss of $454,592, which included corporate development expenses of $122,688.

At June 30, 2024, the Company held exploration and evaluation assets with a carrying value of $17,484,799, including the Woodstock manganese project in New Brunswick with a carrying value of $10,456,944, and subsidiary Mongoose's Cobequid IOCG property in Nova Scotia with a carrying value of $7,027,855 (before a 59.5% non-controlling interest).
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