Aluminum   $ 2.1505 kg        |         Cobalt   $ 33.420 kg        |         Copper   $ 8.2940 kg        |         Gallium   $ 222.80 kg        |         Gold   $ 61736.51 kg        |         Indium   $ 284.50 kg        |         Iridium   $ 144678.36 kg        |         Iron Ore   $ 0.1083 kg        |         Lead   $ 2.1718 kg        |         Lithium   $ 29.821 kg        |         Molybdenum   $ 58.750 kg        |         Neodymium   $ 82.608 kg        |         Nickel   $ 20.616 kg        |         Palladium   $ 40303.53 kg        |         Platinum   $ 30972.89 kg        |         Rhodium   $ 131818.06 kg        |         Ruthenium   $ 14950.10 kg        |         Silver   $ 778.87 kg        |         Steel Rebar   $ 0.5063 kg        |         Tellurium   $ 73.354 kg        |         Tin   $ 25.497 kg        |         Uranium   $ 128.42 kg        |         Zinc   $ 2.3825 kg        |         

Vancouver, British Columbia–(Newsfile Corp. – July 18, 2023) – European Energy Metals (TSXV: FIN) (FSE: W28) (“European Energy” or the “Company”) is pleased to announce exploration crews have confirmed the presence of pegmatites at Lappajarvi West, one of the five concessions comprising its 2,300 square kilometre Lithium-Cesium-Tantalum (“LCT”) and Rare Earth Element (“REE”) Finnish Pegmatite Project, in central and southern Finland.

As part of the Company’s Phase 1 exploration program, exploration crews have visited a number of the pegmatite occurrences noted in the Geological Survey of Finland “GTK” database, confirming the historic locations and also uncovering additional previously unknown pegmatites. Minerals commonly associated with LCT pegmatites1 have been observed in several locations, including: blocky K-feldspar, green muscovite, beryl and tourmaline.

“Our Phase 1 exploration program has yielded encouraging preliminary results with the presence of LCT indicator minerals noted in multiple locations,” commented European Energy Metals CEO Jeremy Poirier. “We are feeling confident our exploration crews can successfully highlight high priority areas for subsequent permitting for Phase II drilling,” he continued.

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Figure 1. Blue/green beryl crystal in pegmatite outcrop at Lappajärvi West Reservation.

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Figure 2. Quartz and tourmaline in pegmatite outcrop at Lappajärvi West Reservation.

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Figure 3. Pegmatite outcrop at at Lappajärvi West Reservation.

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The first series of samples will be shipped to the ALS Minerals geochemical prep lab in Sodankylä, Finland this week. The samples will be analyzed with procedure ME-MS89L, utilizing a sodium peroxide fusion and ALS’s Super Trace ICP-MS methodology. The results will be released once the technical team completes QA/QC reviews.

European Energy Metals cautions investors the presence of LCT indicator minerals in the pegmatites at Lappajärvi West are not necessarily indicative of presence of lithium mineralization.

Pursuant to an earn-in agreement with Capella Minerals Ltd (TSXV: CMIL)., European Energy has the right to earn an 80% interest in the Finnish Pegmatite Project by issuing 1,750,000 shares, paying Cdn$500,000 and incurring Cdn$2,500,000 dollars in exploration expenditures staged over a 4 year earn in period. A detailed assessment of the historic and government exploration data compiled by the Finnish Geological Survey (“GTK”) identified a series of permissive tracts for LCT pegmatites. The concessions comprising the Finnish Pegmatite Project were identified as a result of this pegmatite research.

About the Finland Pegmatite Project

The Finland Pegmatite Project consists of four exploration concessions in central Finland and one exploration concession in southern Finland. These reservations cover a total area of 2,300 square kilometres and are focused on Lithium-Cesium-Tantalum or LCT pegmatite complexes located within the Jarvi-Pohjanmaa and Seinajoki lithium-permissive tracts as defined by the Geological Survey of Finland (GTK). Four of the reservations (Nabba, Lappajarvi West, Lappajarvi East and Kaatiala) lie immediately adjacent to, and to the south of, Keliber Oy’s spodumene mine development project in the Kaustinen district.

Keliber Oy is a consortium, comprised of Sibanye-Stillwater (79%), Finnish Minerals Group (20%) and Finnish shareholders (1%). A Definitive Feasibility Study by Hatch dated June 14, 2018 states a JORC Code 2012 compliant Measured and Indicated Mineral Resource of 9.47 million tonnes at a grade of 1.16% Li2O2.

European Energy cautions investors the presence of lithium mineralization at Keliber Oy is not necessarily indicative of similar mineralization at the Nabba concession.

1J.B.Selway, F.W.Breaks and A.G.Tindle. (2005) A Review of Rare-Element (Li-Cs-Ta) Pegmatite Exploration Techniques for the Superior Province, Canada, and Large Worldwide Tantalum Deposits. Exploration and Mining Geology, Volume 14 No.s 1-4, pp. 1-30.

2Definitive Feasibility Study – Executive Summary June 14, 2018 by Hatch.

R. Tim Henneberry, P.Geo. (BC), a Director of European Energy Metals Corp., is the Qualified Person who has reviewed and approved the technical content disclosed in this release.

About European Energy Metals Corp.

European Energy Metals Corp. is a junior mining company currently focussed on the Lithium-Cesium-Tantalum Finnish Pegmatite Project in central Finland. Governing bodies in Europe and Finland are legislating environmentally friendly and energy independent laws and policies. One of the key components is access to REE and, specifically, lithium. The company concessions are located within 11 miles of Keliber mine being constructed which is expected to begin production H2 2025.