Tuesday, November 14, 2023

Vancouver, British Columbia based European Energy Metals (TSXV: FIN) (FSE: W28) announced it has submitted applications for two Exploration Licenses ("EL's") covering an area of 4,550 hectares within the 11,690 hectare (ha) Nabba Reservation. The Nabba EL (2,812 ha) and Nabba 2 EL (1,738 ha) are located on the northern half of the Nabba Reservation and adjacent to the Keliber Projects of Sibanye-Stillwater. Under an Exploration License or EL, the Company would be permitted to undertake more advanced exploration such as detailed base-of-till (BoT) sampling, trenching and diamond drilling.

According to the release, an estimated €600 million investment by Keliber's parent company Sibanye-Stillwater Limited in partnership with the Finnish Minerals Group (www.mineralsgroup.fi) is underway and will see the development of open-pit and underground mining from several deposits, construction of a central Spodumene Concentrator Plant and a Lithium Hydroxide Chemical Plant at tidewater in Kokkola. When completed, this complex will comprise a complete hard-rock spodumene pegmatite lithium supply chain (Source: Sibanye-Stillwater website).

"The advancement of our reservations to exploration licenses represents a significant milestone for the company as our understanding of the potential of lithium-bearing mineralization on our projects evolves," commented Jeremy Poirier, CEO of European Energy Metals. "With our Phase 1 exploration program nearing conclusion, we are eagerly awaiting the results from the field and assays at the lab to finalize our 2024 exploration program."

European Energy Metals Corp. is a junior mining company currently focused on the Lithium-Cesium-Tantalum Finnish Pegmatite Project in central Finland.

Shares are trading unchanged at 36 cents

Industry Competitors: Albemarle Corporation (NYSE: ALB), American Lithium Corp. (NASDAQ: AMLI) (TSXV: LI), Piedmont Lithium (NASDAQ: PLL), Sigma Lithium (NASDAQ: SGML) (TSXV: SGML)