European Electric Metals Not Proceeding with Rehova Copper Project
488-1090 West Georgia St. www.europeanelectricmetals.com
Vancouver B.C. Canada V6E3V7 [email protected]
Tel: 604-687-7130 TSX-V: EVX
August 23, 2019
NEWS RELEASE
European Electric Metals Not Proceeding with Rehova Copper Project
European Electric Metals (“EVX” or “the Company”) has decided not to proceed with the Rehova Copper
Project in Albania.
In 2018, EVX mobilized a drill rig and its crew and a geological team to site and drilled 11 holes
(completing 9 of the holes) at the Rehova Copper Project in Albania. This EVX drill program was designed
to follow up on historical drilling and also on EVX geophysical survey completed in 2017 (see EVX News
Release May 2, 2018 for details of drilling including collar locations).
The Company then acquired drilling data of 672 historic drill holes and engaged a consulting firm to develop
a geological model of Rehova, which was completed. EVX also completed detailed geological mapping of
the area.
EVX then received a renewal certificate of its mining license (“Certificate”) covering the Rehova Copper
Project. The Certificate was issued on March 27, 2019 by the National Agency of Natural Resources
(AKBN) of Albania.
It is the opinion of the Company that drill results to date combined with an analysis of the historical data do
not support advancing the project towards production. While some of the EVX drilling encountered good
grades of copper mineralization as previously reported, size potential still has not been proven and the
Company has not been able to generate any interest from potential industry partners to advance the project
through district scale exploration nor is there any assurance the Company would be able to transition its
mining license to an exploration license which, in the view of the Company would be the more appropriate
license given the need for further exploration to test potential.
EVX maintains license applications in Portugal as previously described and is actively searching for projects
in a variety of jurisdictions.
Jose Mario Castelo Branco, EuroGeol, a Qualified Person under the meaning of Canadian National
Instrument 43 101 and Chief Geologist of the Company, is responsible for the technical content of this news
release.
On behalf of the Company
Fred Tejada, Chief Executive Officer and Director
Forward-Looking Statements. This news release contains “forward-looking” statements and information
relating to the Company and Rehova are based on the beliefs of Company management, as well as
assumptions made by and information currently available to Company management. Such statements reflect
the current risks, uncertainties and assumptions related to certain factors including but not limited to, without
limitations, exploration and development risks, expenditure and financing requirements, general economic
conditions, changes in financial markets, the ability to properly and efficiently staff the Company’s
operations, the sufficiency of working capital and funding for continued operations, title matters, community
relations, operating hazards, political and economic factors, competitive factors, metal prices, relationships
with vendors, governmental regulations and oversight, permitting, seasonality and weather, technological
change, industry practices, and one-time events. Should any one or more risks or uncertainties materialize or
change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements
may vary materially from those described herein. The Company does not undertake to update forward-
looking statements or forward-looking information, except as required by law.
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.
488-1090 West Georgia St.
Vancouver BC, Canada V6E3V7
Tel: 604-687-7130
www.europeanelectricmetals.com