Announces Notice of Transfer to Nex

EUROPEAN ELECTRIC METALS INC.

ANNOUNCES NOTICE OF TRANSFER TO NEX

Vancouver, British Columbia – May 5, 2022. European Electric Metals Inc. (TSXV: EVX) (the

“Company”) announces that the TSX Venture Exchange (the “Exchange”) has determined that

the Company does not currently meet the continued listing requirements for a Tier 2 listed

company, and therefore, the Company is on notice from the Exchange that its listing will be

transferred to the NEX by June 30, 2022.

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 expresse d 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.