European Electric Metals Receives Certificate of Renewal of Rehova Mining License
488-1090 West Georgia St. www.europeanelectricmetals.com
Vancouver B.C. Canada V6E3V7 [email protected]
Tel: 604-687-7130 TSX-V: EVX
April 8, 2018
NEWS RELEASE
European Electric Metals Receives Certificate of Renewal of Rehova Mining License
• certificate signifies mining license is in good standing
• further drilling planned to increase historic resource
• exploration outside of Rehova planned
European Electric Metals Inc. (TSX-V:EVX) (OTC PINK:EVXXF) ("EVX" or "Company") is
pleased to report that the Company has received the renewal certificate of its mining license
(“certificate) covering Rehova Copper Project. The certificate was issued on March 27, 2019 by the
National Agency of Natural Resources (AKBN) of Albania. Its issuance signifies that the 25-year
mining license of Rehova issued on February 9, 2017 is in good standing (see the Company filing
on SEDAR ).
Based on the results of drilling the Company conducted in 2018 and the geological modelling
conducted by Wood Canada Limited, EVX believes there is potential for expanding the known
mineralization in Rehova below the known mineralization as well as laterally (please refer to the
Company’s website for the 2018 drilling results). With the certificate issued, the Company plans to
conduct further drilling using geophysical tools such as ground magnetics and downhole TEM
survey to confirm drill targets. Downhole TEM survey have been successful in finding off-hole
section and depth extensions of blind mineralization on other projects. Recent examples include the
discovery of large massive sulphide lenses with this method in the Iberian Pyrite Belt both in
Portugal (Semblana in the Neves Corvo camp) and in Spain (Deep Magdalena lens, East of Aguas
Teñidas mine).
The plan to do further exploration is subject to the approval of the request by the Company to the
licensing authorities to extend the exploration period within the license area for a period of three
years. The Company is also planning to conduct exploration outside of the license area, subject to
the acquisition of exploration grounds around it. The Company believes there is potential for
finding separate deposits outside of the license area based on the presence of several VMS
prospects, some of which intersected copper mineralization in previous drilling.
With the renewal of the Rehova license, the Company now has two advance properties it will be
focusing on; the cobalt-rich Skroska nickel laterite mine and Rehova copper project.
About Rehova
Rehova is located 115 kilometers southeast of Tirana (200 km by road) and is on the electrical
power grid. The property encompasses four historical volcanogenic massive sulphide deposits. The
four known deposits, called Bregu i Geshtenjes (“BG”), Kanisqel, Ciflig and Dushku i Trashe
(“DT”), comprise the Rehova copper mine complex, a historically producing mining operation
which was operated by the Albanian state copper enterprise.
Prior to the start of production in 1980, the Albanian Geological Survey had defined combined
mineralization in the four deposits of 3.43 million tonnes grading 2.17 per cent copper and by the
time operations stopped in 1990, reported 2.87 million tonnes grading 2.14 per cent copper
remaining. The majority of the remaining mineralization was reported as 2.09 million tonnes
grading 2.15 per cent copper from BG, which was not mined and has exploration potential beyond
the historic drilling. BG was being planned for mining when the state-run mining enterprise shut
down its operations country-wide in the early 1990s. Ciflig and DT were mined by underground
methods and Kanisqel by open pit and to a limited extent by underground. The materials mined
were sent to a historic processing plant (no longer existing) nearby with an annual capacity of
60,000 tonnes per year.
The tonnage and grade estimates stated above are historic in nature and were obtained from the
records at the Albanian Geological Survey. The estimate done, using Russian Style Polygon method,
are roughly equivalent to the National Instrument 43-101 inferred category. No qualified person has
done sufficient work to classify the historical estimates as current mineral resources. EVX considers
the historical estimates relevant in guiding e xploration efforts and planning although EVX is not
treating the historical estimates as current mineral resources. EVX will need to undertake a
comprehensive review of available data, including further drilling, to verify the historic estimates and
classify them as current resources.
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
About European Electric Metals Inc.
European Electric Metals is a Canadian -listed public company with projects in Europe. The goal of
European Electric Metals is to become a major source of ba ttery metals such as copper, nickel and
cobalt, and the company seeks to do so within safe, stable and logistically attractive European
jurisdictions. The company's projects are ideally located with excellent road, port and grid power
availability, and near European countries that are poised to experience dramatic growth in the electric
vehicle manufacturing industry.
Forward-Looking Statements. This news release may contain "forward-looking" statements and
information relating to the Company and its projec ts that 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 suffi ciency 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, pe rmitting, 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 Street
Vancouver BC, Canada V6E3V7
Tel: 604-687-7130
www.europeanelectricmetals.com