European Energy Metals Submits Exploration Licence Applications
European Energy Metals Submits Exploration
Licence Applications
Vancouver, British Columbia--(Newsfile Corp. - November 14, 2023) - European Energy Metals (TSXV:
FIN) (FSE: W28) ("
European Energy
" or the "
Company
") is pleased to announce it has submitted
applications for two Exploration Licenses ("EL's") covering an area of 4,550 hectares within the 11,690
hectare (ha) Nabba Reservation. The Nabba EL (2,812 ha) and Nabba 2 EL (1,738 ha) are located on
the northern half of the Nabba Reservation and adjacent to the Keliber Projects of Sibanye-Stillwater.
Under an Exploration License or EL, the Company would be permitted to undertake more advanced
exploration such as detailed base-of-till (BoT) sampling, trenching and diamond drilling.
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 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: Sibanye-Stillwater website).
The Nabba ELs lie <8 km west of Keliber's Spodumene Concentrator Plant and several previously
known Li-spodumene pegmatite prospects/deposits occur within 1 km of the Nabba licences, including
the Emmes Deposit which hosts NNW-SSE trending Li-bearing, spodumene pegmatites, and a
resource of 1.08 Mt grading 1.22% Li
2
O (Geological Survey of Finland). The Nabba EL's also cover
historical Base of Till ("BoT") lithium anomalies which are interpreted by the Company to be relatively
close to source (see Company News Release May 30, 2023) .
"The advancement of our reservations to exploration licenses represents a significant milestone for the
company as our understanding of the potential of lithium-bearing mineralization on our projects evolves,"
commented Jeremy Poirier, CEO of European Energy Metals. "With our Phase 1 exploration program
nearing conclusion, we are eagerly awaiting the results from the field and assays at the lab to finalize our
2024 exploration program."
Figure 1: Exploration License Application Areas
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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.
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 concessions are located within
15 kms of the Keliber 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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