Mr. Franz Kozich reports

RICHMOND MINERALS INC. ANNOUNCES THE FINAL SALE OF LITHIUM EXPLORATION LICENSES IN AUSTRIA

The agreement between European Lithium Ltd. and Richmond Minerals Inc., announced on March 27, 2023, has been finalized. A subsidiary of Richmond Minerals, 2743718 Ontario Inc. (Ontario), has sold, and European Lithium has acquired, 100 per cent of the rights, title and interest in the Bretstein-Lachtal project, Klementkogel project and the Wildbachgraben project located in central Austria, Europe.

Pursuant to the sale, European Lithium has issued to Richmond the following:

• $250,000 (Australian) in cash;
• Two million fully paid ordinary shares of European Lithium at a deemed issue price of seven cents per share to be issued out of European Lithium's current 15-per-cent placement capacity pursuant to Listing Rule 7.1;
• Two million unlisted options (12 cents each, which expire three years from the date of issue).

We seek Safe Harbor.