Mr. Jeremy Poirier of European Energy reports

EUROPEAN ENERGY METALS FILES FINNISH LITHIUM-CESIUM-TANTALUM PEGMATITE PROJECT TECHNICAL REPORT

European Energy Metals Corp. has received and subsequently filed on SEDAR an independent technical report entitled "Finland Pegmatite Project Central Ostrobothnia, Western Finland" by Warren D. Robb, PGeo (British Columbia), with an effective date of May 30, 2023. European Energy Metals has the option to earn up to an 80-per-cent interest in the Finland pegmatite project (FPP) from Capella Minerals Ltd. as detailed in the company's March 6, 2023, and March 20, 2023, news releases. The report can be found on SEDAR or the company's website.

The FPP consists of five mineral reservations prospective for lithium-cesium-tantalum and cover an area of 2,300 square kilometres. The report focused on the four northern reservations Nabba, Lappajarvi W, Lappajarvi E and Kaatiala, located 350 kilometres north of Helsinki and road accessible from the city of Kokkola.

"The technical report supports the company's decision to acquire the Finland pegmatite project and provides a good technical base for our geological crews as they design our 2023 phase I exploration program," stated European Energy Metals chief executive officer Jeremy Poirier. "We believe our Finland pegmatite project portfolio has the potential to become a significant source of lithium and REEs for Europe's domestic critical metals industry," he continued.

The Geological Survey of Finland (GTK) has been conducting regional studies since the 1960s, including: till geochemistry, airborne magnetics and radiometrics, and rock sampling. It combined its data with industry data from Kebiler Oy and other companies to complete a study for a predictive model for LCT pegmatites in Finland, identifying several permissive tracts with potential to host LCT pegmatite deposits. The Finnish pegmatite project lies within two of the tracts: the 255 square km Kaustinen tract, host to the Kebiler Oy LCT lithium project, and the 3,672 square km Jarvi-Pohjanmaa tract.

GTK identified anomalous areas in the Kaustinen tract and followed up with detailed geochemical till sampling between 2003 and 2023, sampling at 100-metre intervals along lines spaced approximately 1,000 metres apart, with the lines oriented perpendicular to the ice flow direction at 240 degrees. An anomaly was identified on the Nabba concession.

GTK identified and described pegmatite mineralization in boulder trains and in outcrop on the three southern reservations Lappajarvi W, Lappajarvi W and Kaatiala, but did not analyze the rocks for lithium.

The four exploration reservations* all lie within the Pohjanmaa belt of rocks and are underlain by mica schists and mica gneisses, which are intercalated with metavolcanic rocks. The Pohjanmaa belt, which includes the Kaustinen and Jarvi-Pohjanmaa tracts, hosts several rare element pegmatites in the north proximal to the Nabba reservation. Li pegmatites of the Kaustinen province belong to the albite spodumene type according to the classification of Cerny and Ercit (2005). The Li pegmatites have intruded after the metamorphic peak conditions of the area and crosscut the metavolcanic and metasedimentary rocks at the northern edge of the belt.

*Mineral reservations in Finland are valid for two years and grant the holder the right to evaluate the reservation's geology to identify and subsequently secure areas within the reservation deemed worthy of further exploration. The holder can then apply for an exploration permit over the smaller worthy areas to explore further.

The technical report recommends the company design a ground follow-up exploration program consisting of prospecting, geological mapping combined with rock sampling, and infill till geochemical sampling to identify target areas with the exploration reservations for follow-up exploration permit applications. The cost of the recommended exploration program is budgeted at $500,000.

The data disclosed in this news release are related to historical base of till sampling results. European Energy has not undertaken any independent investigation of the sampling, nor has it independently analyzed the results of the historical exploration work in order to verify the results. European Energy considers these historical base of till results relevant as the company is using these data as a guide to plan exploration programs.

R. Tim Henneberry, PGeo (B.C.), a director of European Energy Metals, is the qualified person who has reviewed and approved the technical content disclosed in this release.

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 W, Lappajarvi E 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, comprising Sibanye-Stillwater (79 per cent), Finnish Minerals Group (20 per cent) and Finnish shareholders (1 per cent). 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 per cent Li2O (lithium oxide).

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

Under the terms of an earn-in agreement with Capella Minerals, European Energy may earn an 80-per-cent interest in the Finland pegmatite project by issuing 1.75 million shares, paying $500,000 and incurring $2.5-million in exploration expenditures staged over a four-year earn-in period.

About European Energy Metals Corp.

European Energy Metals is a junior mining company currently focused 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 rare earth elements and specifically lithium. The company is also focusing on its Champ copper project located in southeastern British Columbia.

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