Vancouver, British Columbia--(Newsfile Corp. - May 22, 2024) - European Energy Metals (TSXV: FIN) (FSE: W28) ("European Energy Metals" or the "Company") is pleased to announce that it has filed its independent technical report for the Company's Central Finland Lithium Project . The report titled "Technical Report on the Central Finland Lithium Project, Central Ostrobothnia, Finland" is dated May 2, 2024 (with an effective date of May 2, 2024) (the "Technical Report"). The Technical Report can be found on the Company's website (www.europeanenergymetals.com) or under the Company's issuer profile on SEDAR+ (www.sedarplus.ca).
The Technical Report summarizes historical and recent mineral exploration work completed on the Project by previous operators and EEM and includes recommendations for further mineral exploration and evaluation programs on the Project.
The Technical Report was prepared in accordance with National Instrument 43-101 — Standards of Disclosure for Mineral Projects ("National Instrument 43-101") by David Murray, P.Geo., President and Principal Consultant of Resourceful Geoscience Solutions Ltd. of Halifax, NS, Canada, and a Qualified Person as defined in National Instrument 43-101.
About European Energy Metals Corp.
European Energy Metals Corp. is a junior mining company primarily focussed on its 100 percent owned 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's concessions are located within 15 kms of the Keliber mine and production complex, currently under construction and expected to begin production in H2 2025. The Company cautions the presence of lithium mineralization on Keliber's properties is not necessarily indicative of similar mineralization on the Company's mineral reservations.
An estimated €600 million investment by Keliber's parent company Sibanye-Stillwater Limited in partnership with the Finnish Minerals Group (www.mineralsgroup.fi) is underway in the Kautinen Region and will see the development of open-pit and underground mining from several deposits, construction of a central spodumene concentrator plant and a lithium hydroxide chemical plant at tidewater in Kokkola. When completed, this complex will comprise a complete hard-rock spodumene pegmatite lithium supply chain (source: www.sibanyestillwater.com).
The Finnish Pegmatite Project covers approximately 2,500 km2 within geological terrane that hosts numerous LCT spodumene pegmatite prospects and deposits. The Company's exploration Licences are situated less than 10 km from Keliber's Spodumene Concentrator Plant The 2023 inaugural exploration season saw the discovery of multiple occurrences of lithium-bearing spodumene pegmatite mineralization. The highlight was the discovery of the Kyrola Prospect, a 350m long by 110m wide spodumene-bearing boulder field, where 49 rock chip grab samples assayed from 3.84% Li2O to 0.003% Li2O, with 15 of the 49 samples returning grades in excess of 0.50% Li2O (Li2O = lithium oxide). The extent of the boulder field is constrained only by low-lying overburden covered areas and farm fields. The mean assay of these samples was 0.53% Li2O. Fifteen samples assayed greater than 0.50% Li2O, eleven assayed greater than 1.00% Li2O, 4 assayed greater than 2.00% Li2O and 1 assayed greater than 3.00% Li2O. It is interpreted, based on glacial history of the area, that the boulders have only been transported 300-500 m from source.
The Company also has several 100 percent owned precious metals projects in Northern Finland. They are located in the Paleo-Proterozoic Greenstone Terrane of Northern Finland comprised of multiple greenstone belts including the CLGB which hosts world-class gold (eg Kittila Deposit, owned by Agnico Eagle and Ikkari Deposit, owned by Rupert Resources) and base metal deposits (eg Kevitsa owned by Boliden and Sakatti owned by Aglo-American). The belt's potential is also suggested by the presence of several major mining companies in the belt. The belt has very recently garnered significant interest following an offer from Rupert Resources to buy B2Gold's 70% interest in a Joint Venture between B2Gold and Aurion Resources which lies adjacent to Ruperts Ikkari Deposit, for $102 million. The joint venture ground is strategic to Ruperts proposed development of the Ikkari Deposit but is also host to numerous gold prospects along a structural corridor that extends >125 km.
QA/QC Statement
Mike Basha, P.Eng., P.Geo. (NL), VP Exploration of European Energy Metals Corp., a Qualified Person as defined by National Instrument 43-101, has approved this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward Looking Information
This news release contains forward-looking information within the meaning of applicable securities legislation. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the presence of lithium mineralization at, and theexploration and development potential of, the Finland Pegmatite Project. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. All such forward-looking information is based on certain assumptions and analyses made by the Company in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. This information, however, is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Important factors that could cause actual results to differ from this forward-looking information include risks inherent in exploration as well as those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information.
