Effective Date of Share Consolidation European Electric Metals Inc. (TSX-V: EVX) (OTC PINK: EVXXF) ("EVX" or the "Company") advises that the ten-for-one share consolidation previously announced by the Company (see the Company’s news releases dated July 8 and 9, 2020, and

488-1090 West Georgia St. www.europeanelectricmetals.com Vancouver B.C. Canada V6E3V7 [email protected] Tel: 604-687-7130 TSX-V: EVX

September 2, 2020

NEWS RELEASE

Effective Date of Share Consolidation

European Electric Metals Inc. (TSX-V: EVX) (OTC PINK: EVXXF) ("EVX" or the "Company") advises that the ten-for-one share consolidation previously announced by the Company (see the Company’s news releases dated July 8 and 9, 2020, and August 19, 2020) will become effective on September 3, 2020. The Company’s 53,027,626 currently outstanding shares will be consolidated to 5,302,763 shares. The Company's new CUSIP number is 29877A205. The Company’s name and trading symbol will remain unchanged.

Outstanding stock options and share purchase warrants will also be adjusted by the consolidation ratio, and their respective exercise prices will be adjusted accordingly.

On behalf of the Company,

Fred Tejada, Chief Executive Officer and Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer: There is no assurance that completing the Consolidation and Debt Settlement will result in any new business or project being acquired by the Company or that any future financing will be realized.

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