Mr. Jeremy Poirier reports

EUROPEAN ENERGY METALS SATISFIES EXPLORATION EXPENDITURES UNDER INITIAL 51% EARN-IN

European Energy Metals Corp. has satisfied the $1-million minimum exploration expenditure commitment on the Central Finland lithium project, being a key requirement for earning-in to an initial 51-per-cent interest in the project from Capella Minerals Ltd., as per the earn-in agreement (see March 20, 2023, news release). The company has incurred over $1.1-million in exploration expenditures at the project to date, which includes sampling and mapping, in addition to the collection of approximately 1,100 rock chip grab samples, all of which have resulted in the discovery of several high-grade lithium prospects, which are being permitted for drilling. The company may now formally complete its earn-in to the 51-per-cent interest in the project through the payment of $100,000 in cash and 400,000 common shares to Capella.

"Our advancement to the initial 51-per-cent earn-in reinforces our commitment to the project based on the exemplary exploration results received to date," commented Jeremy Poirier, chief executive officer of European Energy Metals. "We are currently in the process of converting 4,550 hectares of the 11,690-hectare Nabba Reservation to two exploration licences (ELs) in order to drill test some of the most prospective targets identified through initial prospecting and sampling, which yielded up to 3.84 per cent Li2O [lithium oxide]. We anticipate providing an update on the timing and details of the next phase of exploration upon receipt of the exploration licences."

Under the terms of the earn-in agreement with Capella Minerals, the company may earn an initial 51-per-cent interest in the project by incurring $1-million in exploration expenditures ($1.1-million incurred) in addition to cash payments totalling $200,000 ($100,000 paid) and issuing 500,000 shares (250,000 issued) within the first two years of the agreement. Upon the exercise of the initial option, the company has the right to earn an addition 29 per cent (80 per cent total) for additional $1.5-million in exploration, $300,000 in cash payments plus the issuance of 1.75 million shares within a two-year period from the exercise of the initial 51-per-cent earn-in.

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

About European Energy Metals Corp.

European Energy Metals is a junior mining company currently focused on the lithium-cesium-tantalum (LCT) 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 (rare earth elements) and, specifically, lithium. The company's concessions are located within 15 kilometres of the Keliber mine and production complex, currently under construction, which is expected to begin production in H2 2025.

We seek Safe Harbor.