Mr. Jonathan Richards reports

EUROPEAN ELECTRIC METALS ANNOUNCES RESUMPTION OF TRADING

Trading of European Electric Metals Inc.'s common shares on the TSX Venture Exchange will resume shortly. The common shares of the company were halted on March 1, 2023, in connection with a proposed mineral property acquisition in Europe that did not proceed (see news release dated March 15, 2023, and Sept. 5, 2025).

The company also advises that it currently does not meet certain Tier 2 continued listing requirements of the exchange. In particular:

• The company's working capital is less than the greater of $50,000 and the amount to maintain operations and cover general and administrative expenses for a period of six months.
• The company does not have any assets or other operations other than seeking to acquire a new mineral property.
• As the company does not have an interest in a mineral property, the company has not incurred the required annual expenditures on mineral property.

To meet Tier 2 continued listing requirements, the company is actively pursuing a new mineral property to acquire. In conjunction with acquiring such a property, the company would raise sufficient funds to meet any exploration program as well as continuing general and administrative expenses of the company.

The company also wishes to clarify its disclosure regarding its disposition of its interest in EVX Portugal, Unipessoal and LDA. EVX Portugal held the Borba 2 licence in Portugal. On June 3, 2022, the company entered into an amendment agreement to definitive agreement with Europacific Metals Inc. (previously Goldplay Mining Inc.), which is an arm's-length party to the company, whereby the company agreed to option its entire interest, being 30 per cent, in EVX Portugal to Europacific. Europacific exercised the option by paying $50,000 to the company and issuing 700,000 common shares of Europacific to the company. The company no longer has an interest in EVX Portugal. The transaction completed on July 24, 2023.

The company has submitted the transaction for acceptance of the exchange and remains subject to the exchange's acceptance.

We seek Safe Harbor.