Mr. Jeremy Poirier reports

EUROPEAN ENERGY METALS ANNOUNCES PRIVATE PLACEMENT AND OFFICER CHANGE

European Energy Metals Corp. has arranged a non-brokered private placement of up to 6.95 million units at a price of 36 cents to raise gross proceeds of up to $2,502,000. Each unit will consist of one common share of the company and one-half of a common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share at an exercise price of 75 cents for a period of three years following closing of the private placement.

The company may pay finders' fees in the amount of 7 per cent cash and issue finders' warrants equal to 7 per cent of the number of units placed by such finder on all or a portion of the private placement. The finders' warrants will have the same terms of the warrants forming part of the units.

The company intends to use the net proceeds of the private placement for exploration work on its properties and for working capital. Completion of the private placement remains subject to the approval of the TSX Venture Exchange.

The company is also pleased to announce that Julia Stone has been appointed as chief financial officer of the company and Yulia McCutcheon as corporate secretary of the company, effective today.

Ms. Stone is a chartered professional accountant and a senior associate with Fehr & Associates, a registered designated accounting practice, focusing primarily on tax compliance for corporations and high-net-worth individuals and business support. Ms. Stone received her chartered professional accounting designation in 2016 and has worked with numerous mining and metals companies, both public and private, including as chief financial officer for Biovaxys Technology Corp. (formerly Lions Bay Mining Corp.) from July, 2018, to July, 2020, and CMP Mining Inc. from November, 2020, to present.

Ms. McCutcheon brings to the position over seven years of corporate secretarial and administrative experience working with multiple clients in the junior mining sector. Ms. McCutcheon holds an accounting degree from Ball State University and a master's degree in international affairs from The New School University.

About European Energy Metals Corp.

European Energy Metals is a junior mining company focused on the exploration and development of its portfolio of five lithium and rare earth element projects in Finland covering over 2,300 square kilometres and its Champ precious metal property near Castlegar, B.C.

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