Mr. Chris Osterman reports

EUROPACIFIC METAL INC. ANNOUNCES INCREASE IN CONTROL OF PORTUGUESE SUBSIDIARY FROM 70% TO 100%

As disclosed in the May 4, 2023, news release, pursuant to an agreement between Europacific Metals Inc. and European Electric Metals Inc., the company has acquired from European Metals the remaining 30-per-cent interest in EVX Portugal, a Portuguese company that holds the exploration rights on the Borba 2 mineral properties. The company has received approval from the TSX Venture Exchange to proceed with the acquisition of the remaining 30-per-cent equity interest in EVX Portugal.

In exchange for the remaining 30-per-cent interest in EVX Portugal, the company paid $50,000 and issued 700,000 company shares to European Metals. The shares will be released according to the following schedule.

Nov. 25, 2023:  175,000

Feb. 24, 2024:  175,000

May 24, 2024:  175,000

Aug. 24, 2024:  175,000

Dr. Chris Osterman, president and chief executive officer of Europacific, commented, "The acquisition of the remaining 30 per cent in EVX Portugal gives the company now full control over its Portuguese subsidiary, which allows the company to have better flexibility in seeking association with business partners and investors who will support the advancement of Borba 2."

About Europacific Metals Inc.

Europacific is a Canadian public company listed on the TSX Venture Exchange and in the United States on OTCQB (AUCCF). The company holds brownfield gold and copper-gold projects located in Portugal. The company is focused on exploration in highly prospective geological settings in Europe and Eurasian jurisdictions.