Mr. Jeremy Poirier reports

EUROPEAN ENERGY METALS CENTRAL FINLAND EXPLORATION LICENCES GRANTED

European Energy Metals Corp.'s Nabba and Nabba 2 exploration licences (ELs), which were applied for in September and October, 2023, have been granted by Tukes (Finnish Safety and Chemicals Agency). The licences are located within the company's Central Finland lithium project and cover 2,780 and 1,740 hectares (ha), respectively.

"European Energy Metals is grateful to Tukes for expediting these licence applications," commented chief executive officer Jeremy Poirier. "With exploration licences in place we will be able to advance the targets already generated with more advanced exploration including diamond drilling this year. European Energy Metals is poised for continued success in 2024," he concluded.

Under the Finnish Mineral Act the licences are granted for a period of four years after which extensions can be granted for a total of 15 years. These licences permit advanced exploration, including trenching and diamond drilling. The company is in the process of finalizing its 2024 exploration plans; however, it is anticipated that prospecting, geological mapping, ground geophysics, trenching and diamond drilling will be conducted this year.

Property highlights

Prospecting during 2023 identified multiple occurrences of lithium-bearing spodumene pegmatite mineralization on the underlying Nabba Reservation. The highlight was the discovery of the Kyrola prospect, a 350-metre-long-by-110-metre-wide spodumene-bearing boulder field, where 49 rock chip grab samples were assayed from 3.84 per cent Li2O (lithium oxide) to 0.003 per cent Li2O, with 15 of the 49 samples returning grades in excess of 0.50 per cent Li2O. The extent of the boulder field is constrained only by low-lying overburden covered areas and farm fields. The mean assay of these samples was 0.53 per cent Li2O. Fifteen samples assayed greater than 0.50 per cent Li2O, 11 assayed greater than 1 per cent Li2O, four assayed greater than 2 per cent Li2O and one assayed greater than 3 per cent Li2O. The boulders are generally angular and range in size from small hand-size cobbles up to 1.5-plus m in diameter. The boulders are also weakly anomalous in cesium, tantalum, beryllium and tin.

The boulders mineralogically comprised albite-spodumene-quartz-muscovite pegmatite with lesser accessory minerals such as tourmaline, garnet and beryl. They are typically massive to weakly zoned and appear to be mineralogically similar to the known Keliber deposits in the region, suggesting they may be part of the same mineralizing event.

Based on the known glacial history of the area and glacial dispersion of pegmatite boulders at the Keliber deposits it is interpreted that the source of the boulders is likely to be to the northwest of the boulder field, and possibly within 300 m to 500 m. Further studies will be required to confirm and define targets for drilling.

The Nabba ELs lie less than eight kilometres west of Keliber's spodumene concentrator plant and several previously known lithium-spodumene pegmatite prospects/deposits occur within one km of the Nabba ELs, including the Emmes deposit, which hosts north-northwest-south-southeast-trending Li-bearing, spodumene pegmatites, and a resource of 1.08 million tonnes grading 1.22 per cent Li2O.

European Energy Metals cautions investors grab samples are selective samples by their nature and are not necessarily indicative of mineralization on the Nabba ELs. The company further cautions the presence of lithium mineralization on Keliber Oy's properties is not necessarily indicative of similar mineralization on the company's mineral reservations.

Quality assurance/quality control statement

Samples were submitted to ALS Laboratories in Sodankyla, Finland. ALS inserted internal standards, blanks and pulp duplicates within each sample batch as part of its own internal monitoring of quality control protocols. European Energy Metals monitors precision and bias performance by inserting certified lithium standards (OREAS 750 and OREAS 753) as well as blanks into each batch submitted to ALS at a rate of 1:25.

The major element oxides and trace elements including Li, Cs, Ta and Be were analyzed by ALS analytical package ME-MS89L plus B-MS89L involving digestion by sodium peroxide fusion followed by ALS's supertrace inductively coupled plasma mass spectrometry methodology. QA/QC results to date do not indicate any analytical accuracy issues with all standards returning values Li values within three standard deviations of their certified mean and blanks returning expected values.

Mike Basha, PEng, PGeo (Newfoundland and Labrador), vice-president, exploration, of European Energy Metals, a qualified person as defined by National Instrument 43-101, has prepared the scientific and technical information contained in this press 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 rare earth elements and, specifically, lithium. The company's concessions are located within 15 km of the Keliber mine and production complex, currently under construction and expected to begin production in H2 2025.

We seek Safe Harbor.