Mr. Jeremy Poirier reports

EUROPEAN ENERGY METALS EXPANDS PROSPECTIVE LAND POSITION IN CENTRAL FINLAND

European Energy Metals Corp. has applied to stake three additional mineral reservations totalling approximately 23,000 hectares, expanding the company's holdings in central Finland to over 250,000 hectares.

"The expanded land position comes as a result of the ongoing, fully funded, phase 1 exploration program which identified potential extensions of prospective pegmatites delineated on our projects," commented Jeremy Poirier, chief executive officer of European Energy Metals. "With a largely contiguous property package covering over 250,000 hectares prospective for lithium-cesium-tantalum pegmatites, European Energy Metals represents one of the largest lithium-focused exploration companies in the country."

Three new reservation applications

European Energy Metals, through its in-country subsidiary, has applied to stake three mineral reservations at a nominal cost, covering approximately 23,000 hectares, which expand and enhance the company's concessions in central Finland to the northwest, northeast and southwest.

The Ristineva reservation covers 6,358 hectares and adjoins the company's Lappajarvi East project to the northeast. The reservation lies on the southwestern flank of the Kaustinen granite, which is prospective as it is believed to be the source of the lithium-bearing spodumene pegmatite deposits in the region (Martikainen, 2012).

The Killa reservation covers 6,105 hectares and adjoins the company's Lappajarvi West project to the northwest. This area was identified by the exploration team as it encompasses several known pegmatite occurrences and is located along a major structural boundary which is prospective for the emplacement of pegmatites.

The Roomio reservation covers 10,500 hectares and adjoins the company's Lappajarvi West project to the southwest, covering several known pegmatite occurrences.

Mike Basha, PEng, PGeo (Newfoundland), vice-president of exploration for European Energy Metals, a qualified person as defined by National Instrument 43-101, has prepared this press release.

The Finland pegmatite project consists of four exploration concessions in central Finland and one exploration concession in southern Finland. These reservations cover a total area of 2,300 square kilometres and are focused on lithium-cesium-tantalum (LCT) pegmatite complexes located within the Jarvi-Pohjanmaa and Seinajoki lithium-permissive tracts, as defined by the Geological Survey of Finland (GTK). Four of the reservations (Nabba, Lappajarvi West, Lappajarvi East and Kaatiala) lie immediately adjacent to, and to the south of, Keliber Oy's spodumene mine development project in the Kaustinen district.

Keliber Oy is a consortium composed of Sibanye-Stillwater (79 per cent), Finnish Minerals Group (20 per cent) and Finnish shareholders (1 per cent). A definitive feasibility study (DFS) by Hatch, completed by Keliber, from February, 2022, estimated measured and indicated mineral resources of 17 million tonnes at a grade of 1.02 per cent Li2O (lithium oxide). European Energy cautions investors the presence of lithium mineralization at Keliber Oy is not necessarily indicative of similar mineralization at the Nabba concession.

Pursuant to an earn-in agreement with Capella Minerals Ltd., European Energy has the right to earn an 80-per-cent interest in the Finnish pegmatite project by issuing 1.75 million shares, paying $500,000 and incurring $2.5-million in exploration expenditures staged over a four-year earn-in period. A detailed assessment of the historic and government exploration data compiled by the Finnish Geological Survey identified a series of permissive tracts for LCT pegmatites. The concessions comprising the Finnish pegmatite project were identified as a result of this pegmatite research.

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 rare earth elements, specifically lithium. The company's 250,000 hectares of mineral reservations are located within 15 km of the Keliber lithium mine and production complex, currently under construction, which is expected to begin production in H2 2025.

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