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EUROPEAN ELETRIC METALS CHANGES NAME TO CANADIAN GOLDFIELDS DISCOVERY CORP.

VANCOUVER, British Columbia - January 7, 2026. European Electric Metals Inc. (TSXV: EVX) (the "Company") is pleased to announce that it has changed its name to "Canadian Goldfields Discovery Corp." (the "Name Change"). The Company's common shares will adopt the new name and stock ticker symbol "CGM" on January 12, 2026.

The Name Change better reflects the Company's plan to pursue gold projects based in Canada. The Company previously announced its acquisition of the Miminiska Property (the "Acquisition"). Closing of the Acquisition remains subject to acceptance of the TSX Venture Exchange.

In connection with the Name Change, the following new ISIN CA1358711010 number has been assigned to the common shares of the Company. No action is required to be taken by shareholders with respect to the name change. Outstanding common share certificates bearing the old name of the Company are still valid and are not affected by the name and ticker symbol change.

Additional Information

John Booth

Chief Executive Officer

European Electric Metals Inc.

Phone: (604) 802-4447

Email: info@europeanelectricmetals.com

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history. In particular, closing of the acquisition of the Miminiska Gold Property remains subject to a number of conditions, including, completion of the Offering, entering into new exploration agreements with the Eabametoong First Nation covering solely the Miminiska Gold Property and the acceptance of the TSX Venture Exchange. In addition, the Company's planned exploration program for the Miminiska Gold Property is subject to change. There is no assurance that the Miminiska Gold Property acquisition will be completed as contemplated, or at all. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company does not undertake to publicly update or revise forward looking information.

Neither the TSX Venture Exchange not its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.