Mr. Jeremy Poirier reports

EUROPEAN ENERGY METALS ENTERS INTO AGREEMENT TO ACQUIRE ADDITIONAL PROPERTIES IN FINLAND

European Energy Metals Corp. has entered into a definitive agreement to acquire a 100-per-cent interest in seven mineral reservations located in northern and central Finland.

Under the terms of the proposed transaction, the company will acquire all of the shares of BB Gold Inc., a company existing under the laws of Newfoundland and Labrador, and its wholly owned Finnish subsidiary, Sisu Exploration Oy, the direct owner of the reservations, from a private individual (the vendor) in exchange for the issuance of 1.25 million common shares. In addition to any statutory resale restrictions, the consideration shares will be subject to the contractual resale restrictions noted herein.

The vendor will also be granted a 1-per-cent net smelter royalty on six of the seven concessions.

Completion of the proposed transaction is subject to customary closing conditions, including receipt of the approval of the TSX Venture Exchange.

About the concessions

Through this agreement the company acquires a 100-per-cent interest in seven mineral reservations covering approximately 3,106.5 square kilometres as described more fully below.

Kontti and Kontti 2 reservations

These reservations are underlain by a series of approximately 1.8-billion-year-old granitoids, including S-type microcline granites intruding migmatites and metasedimentary rocks of the Central Lapland granitoid complex and hosting numerous pegmatite occurrences. These reservations are considered prospective for battery and rare metals (lithium, cesium and tantalum), and rare earth elements (yttrium, niobium and fluorine) among others.

Haara reservation

This reservation in the northern part of the Central Lapland greenstone belt (CLGB) is also underlain by a series of approximately 1.8-billion-year-old granitoids, including two-mica granites intruding metasedimentary and metavolcanic rocks and pegmatites. This reservation is considered prospective for battery and rare metals (lithium, cesium and tantalum), and rare earth elements (yttrium, niobium and fluorine) among others.

Mairivaara and Nousu reservations

These reservations are underlain by mafic and ultramafic volcanic rocks and sedimentary rocks of the Central Lapland greenstone belt (CLGB) and are considered prospective for precious and base metals.

Angelvaara

This reservation is underlain primarily by mafic and ultramafic igneous rocks in the eastern portion of the CLGB and is considered prospective for base (nickel-copper-cobalt) and precious metals.

Kiila

This reservation is underlain primarily by metasedimentary rocks of the Pohjaanma schist belt which hosts the Kaustinen lithium-pegmatite cluster of deposits, currently under development, and lies within 25 kilometres of the Keliber Oys battery metal processing plant in Kokkola, Finland. This reservation is contiguous with the Lappajarvi reservation which is the subject of an agreement between the company and Capella Minerals Ltd. (see press release dated March 20, 2023). This reservation is considered prospective for battery and rare metals (lithium, cesium and tantalum), and rare earth elements (yttrium, niobium and fluorine) among others.

Commented Jeremy Poirier, president and chief executive officer of European Energy Metals: "With this acquisition we will control over 5,000 square km of mineral reservations considered highly prospective for lithium, battery and rare metals potential. As Finland is becoming an emerging global leader in the space with its progressive critical minerals policies and lithium supply chain infrastructure development, we are now a well-positioned, major hard-rock lithium explorer in Finland."

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

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 REE and, specifically, lithium. The company concessions are located within 11 miles of the Keliber mine being constructed which is expected to begin production H2 2025.

We seek Safe Harbor.