Announces $1.5 Million Private Placement Financing

EUROPEAN ELECTRIC METALS INC.

ANNOUNCES $1.5 MILLION PRIVATE PLACEMENT FINANCING

Vancouver, British Columbia – June 29, 2022. European Electric Metals Inc. (TSXV: EVX) (the “Company”) is pleased to announce a non-brokered private placement financing of up to 30,000,000 common shares at a price of $0.05 per share for total gross proceeds of up to $1,500,000 (the “Offering”).

The proceeds of the Offering will be used to repay corporate indebtedness of approximately $1,000,000, to investigate and acquire a new mineral property and for general working purposes.

The securities issued under the Offering will be subject to restrictions on resale for a period of four months from the date of issuance and such other voluntary restrictions on resale agreed to by the subscribers and the Company. The Company may pay finders a fee in cash and/or warrants under the Offering.

Closing of the Offering is subject to approval of the Exchange.

Additional Information

Fred Tejada Chief Executive Officer European Electric Metals Inc.

Phone: (604) 687-7130 Email: [email protected]

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company does not undertake to publicly update or revise forward looking information.

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