European Energy Metals Expands Prospective Land Position in Central Finland
European Energy Metals Expands Prospective
Land Position in Central Finland
Vancouver, British Columbia--(Newsfile Corp. - November 7, 2023) - European Energy Metals (TSXV:
FIN) (FSE: W28) ("
European Energy
" or the "
Company
") is pleased to announce the staking
application for three additional mineral reservations totalling approximately 23,000 hectares, expanding
the Company's holdings in Central Finland to over 250,000 hectares.
"The expanded land position comes as a result of the ongoing, fully funded Phase 1 exploration program
which identified potential extensions of prospective pegmatites delineated on our projects," commented
Jeremy Poirier, CEO of European Energy Metals Corp. "With a largely-contiguous property package
covering over 250,000 hectares prospective for lithium-cesium-tantalum pegmatites, European Energy
Metals represents one of the largest lithium-focused exploration companies in the country."
Three New Reservation Applications
European Energy Metals, through its in-country subsidiary, has applied to stake three mineral
reservations at a nominal cost, covering approximately 23,000 hectares which expand and enhance the
Company's concessions in Central Finland to the northwest, northeast, and southwest.
The Ristineva Reservation covers 6,358 hectares and adjoins the Company's Lappajarvi East project to
the north-east. The reservation lies on the southwestern flank of the Kaustinen Granite which is
prospective as it is believed to be the source of the lithium-bearing spodumene pegmatite deposits in
the region (c.f. Martikainen, 2012).
The Killa Reservation covers 6,105 hectares and adjoins the Company's Lappajarvi West project to the
northwest. This area was identified by the exploration team as it encompasses several known pegmatite
occurrences and is located along a major structural boundary which is prospective for the emplacement
of pegmatites.
The Roomio Reservation covers 10,500 hectares and adjoins the Company's Lappajarvi West project to
the southwest, covering several known pegmatite occurrences.
Figure 1: Reservation Map
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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 prepared this press release.
The Finland Pegmatite Project consists of four exploration concessions in central Finland and one
exploration concession in southern Finland. These reservations cover a total area of 2,300 square
kilometres and are focused on Lithium-Cesium-Tantalum or LCT pegmatite complexes located within
the Jarvi-Pohjanmaa and Seinajoki lithium-permissive tracts as defined by the Geological Survey of
Finland (GTK). Four of the reservations (Nabba, Lappajarvi West, Lappajarvi East and Kaatiala) lie
immediately adjacent to, and to the south of, Keliber Oy's spodumene mine development project in the
Kaustinen district.
Keliber Oy is a consortium, comprised of Sibanye-Stillwater (79%), Finnish Minerals Group (20%) and
Finnish shareholders (1%). A Definitive Feasibility Study by Hatch (DFS) completed by Keliber in
February 2022
measured and Indicated Mineral Resource of 17 million tonnes at a grade of 1.02%
Li2O.1 European Energy cautions investors the presence of lithium mineralization at Keliber Oy is not
necessarily indicative of similar mineralization at the Nabba concession.
Pursuant to an earn-in agreement with Capella Minerals Ltd (TSXV: CMIL)., European Energy has the
right to earn an 80% interest in the Finnish Pegmatite Project by issuing 1,750,000 shares, paying
Cdn$500,000 and incurring Cdn$2,500,000 dollars in exploration expenditures staged over a 4 year
earn in period. A detailed assessment of the historic and government exploration data compiled by the
Finnish Geological Survey ("GTK") identified a series of permissive tracts for LCT pegmatites. The
concessions comprising the Finnish Pegmatite Project were identified as a result of this pegmatite
research.
About European Energy Metals Corp.
European Energy Metals Corp. is a junior mining company currently focussed on the 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 250,000 hectares of mineral
reservations are located within 15 kms of the Keliber lithium mine and production complex, currently
under construction which is expected to begin production in H2 2025.
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 the costs of any
anticipated work programs and the ability to fund such costs, required approvals in connection with
any work programs and the ability to obtain such approvals, 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.
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