European Energy Metals Announces Technical Report on Its Central Finland Lithium Project
European Energy Metals Announces Technical
Report on Its Central Finland Lithium Project
Vancouver, British Columbia--(Newsfile Corp. - May 22, 2024) - European Energy Metals (TSXV: FIN)
(FSE: W28) ("
European Energy Metals
" or the "
Company
") is pleased to announce that it has filed its
independent technical report for the Company's Central Finland Lithium Project . The report titled
"Technical Report on the Central Finland Lithium Project, Central Ostrobothnia, Finland" is dated May 2,
2024 (with an effective date of May 2, 2024) (the "
Technical Report
"). The Technical Report can be
found on the Company's website (www.europeanenergymetals.com) or under the Company's issuer
profile on SEDAR+ (
www.sedarplus.ca
).
The Technical Report summarizes historical and recent mineral exploration work completed on the
Project by previous operators and EEM and includes recommendations for further mineral exploration
and evaluation programs on the Project.
The Technical Report was prepared in accordance with National Instrument 43-101 —
Standards of
Disclosure for Mineral Projects
("
National Instrument 43-101
") by David Murray, P.Geo., President
and Principal Consultant of Resourceful Geoscience Solutions Ltd. of Halifax, NS, Canada, and a
Qualified Person as defined in National Instrument 43-101.
About European Energy Metals Corp.
European Energy Metals Corp. is a junior mining company primarily focussed on its 100 percent owned
Lithium-Cesium-Tantalum Finnish Pegmatite Project in central Finland. Governing bodies in Europe and
Finland are legislating environmentally friendly and energy independent laws and policies. One of the key
components is access to REE and, specifically, lithium. The Company's concessions are located within
15 kms of the Keliber mine and production complex, currently under construction and expected to begin
production in H2 2025. The Company cautions the presence of lithium mineralization on Keliber's
properties is not necessarily indicative of similar mineralization on the Company's mineral reservations.
An estimated €600 million investment by Keliber's parent company Sibanye-Stillwater Limited in
partnership with the Finnish Minerals Group (
www.mineralsgroup.fi
) is underway in the Kautinen Region
and will see the development of open-pit and underground mining from several deposits, construction of
a central spodumene concentrator plant and a lithium hydroxide chemical plant at tidewater in Kokkola.
When completed, this complex will comprise a complete hard-rock spodumene pegmatite lithium supply
chain (source:
www.sibanyestillwater.com
).
The Finnish Pegmatite Project covers approximately 2,500 km2 within geological terrane that hosts
numerous LCT spodumene pegmatite prospects and deposits. The Company's exploration Licences
are situated less than 10 km from Keliber's Spodumene Concentrator Plant The 2023 inaugural
exploration season saw the discovery of multiple occurrences of lithium-bearing spodumene pegmatite
mineralization. The highlight was the discovery of the Kyrola Prospect, a 350m long by 110m wide
spodumene-bearing boulder field, where 49 rock chip grab samples assayed from 3.84% Li
2
O to
0.003% Li
2
O, with 15 of the 49 samples returning grades in excess of 0.50% Li
2
O (Li
2
O = lithium oxide).
The extent of the boulder field is constrained only by low-lying overburden covered areas and farm fields.
The mean assay of these samples was 0.53% Li
2
O. Fifteen samples assayed greater than 0.50% Li
2
O,
eleven assayed greater than 1.00% Li
2
O, 4 assayed greater than 2.00% Li
2
O and 1 assayed greater
than 3.00% Li
2
O. It is interpreted, based on glacial history of the area, that the boulders have only been
transported 300-500 m from source.
The Company also has several 100 percent owned precious metals projects in Northern Finland. They
are located in the Paleo-Proterozoic Greenstone Terrane of Northern Finland comprised of multiple
greenstone belts including the CLGB which hosts world-class gold (eg Kittila Deposit, owned by Agnico
Eagle and Ikkari Deposit, owned by Rupert Resources) and base metal deposits (eg Kevitsa owned by
Boliden and Sakatti owned by Aglo-American). The belt's potential is also suggested by the presence of
several major mining companies in the belt. The belt has very recently garnered significant interest
following an offer from Rupert Resources to buy B2Gold's 70% interest in a Joint Venture between
B2Gold and Aurion Resources which lies adjacent to Ruperts Ikkari Deposit, for $102 million. The joint
venture ground is strategic to Ruperts proposed development of the Ikkari Deposit but is also host to
numerous gold prospects along a structural corridor that extends >125 km.
QA/QC Statement
Mike Basha, P.Eng., P.Geo. (NL), VP Exploration of European Energy Metals Corp., a Qualified Person
as defined by National Instrument 43-101, has approved this press release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Jeremy Poirier, CEO
Telephone: 604-722-9842
Email:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Cautionary Statements Regarding Forward Looking Information
This news release contains forward-looking information within the meaning of applicable securities
legislation. Forward-looking information is typically identified by words such as: believe, expect,
anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature,
refer to future events. Such statements include, without limitation, statements regarding the future
results of operations, performance and achievements of the Company, including the presence of
lithium mineralization at, and the
exploration and development potential of, the Finland Pegmatite
Project. Although the Company believes that such statements are reasonable, it can give no
assurances that such expectations will prove to be correct. All such forward-looking information is
based on certain assumptions and analyses made by the Company in light of their experience and
perception of historical trends, current conditions and expected future developments, as well as other
factors management believes are appropriate in the circumstances. This information, however, is
subject to a variety of risks and uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking information. Important factors
that could cause actual results to differ from this forward-looking information include risks inherent in
exploration as well as those described under the heading "Risks and Uncertainties" in the Company's
most recently filed MD&A. The Company does not intend, and expressly disclaims any obligation to,
update or revise the forward-looking information contained in this news release, except as required by
law. Readers are cautioned not to place undue reliance on forward-looking information.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/210035