European Energy Metals Announces VP of Exploration Appointment

Rhea-AI Summary

European Energy Metals appoints Mike Basha as Vice President of Exploration

Positive

• Appointment of experienced professional with 35 years of experience in exploration and mining industry
• Basha's track record includes co-discovery of gold deposit and successful acquisitions and partnerships
• EEM's projects strategically located near lithium production infrastructure

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - September 19, 2023) - European Energy Metals (TSXV: FIN) (FSE: W28) (OTC Pink: EUEMF) ("European Energy" or the "Company") is pleased to announce that it has appointed Mr. Mike Basha as its Vice President of Exploration.

Mr. Basha is a professional engineer and geologist with over 35 years experience working for major and junior exploration and mining companies in both North and South America, and most relevant to the Company, several years in Finland. He has generated and worked on many grassroots to advanced exploration projects for a variety of mineral commodities. He was co-discoverer of the Hammerdown gold deposit in Newfoundland early in his career. As former VP Exploration of Cornerstone Resources Ltd, he was instrumental in helping establish them in Ecuador. Cornerstone was recently acquired by Solgold Plc for $120 million. He is also the founder and former CEO and President of Aurion Resources Ltd, with assets in Northern Finland. While at Aurion Mr. Basha acquired the core of Aurion's holdings in Finland, primarily through staking, including approximately 80 km along the Sirkka Shear Zone. This forms the basis of the Aurion-B2Gold Joint Venture, which hosts the Helmi Gold Prospect adjacent to Rupert Resources Ikkari Gold deposit. Also under Mr. Basha's direction Aurion exploration teams made multiple discoveries including the high-grade Aamurusko, Launi and Notches gold prospects among others. He also negotiated the acquisition of the Kaareselka Project, a current focus of Aurion, and the Silasselka Vanadium Prospect which was sold to Strategic Minerals. He was also instrumental in bringing B2Gold and Kinross into Finland as Joint Venture partners and investors.

He previously served as a member of the Company's Advisory Board. Concurrent with his appointment, Mr. Basha has received 100,000 restricted share units (RSUs) and 150,000 stock options priced at 0.40, which will vest in 12 months accordance with the Company's long term incentive plan.

"We are delighted that Mike has agreed to lead our exploration programs," commented European Energy Metals CEO Jeremy Poirier. "His experience will be invaluable as we move forward with our exploration program in Finland," he continued.

"I'm really looking forward to advancing EEM's extensive land position in Finland, especially the Nabba and Lappajarvi projects which are strategically located adjacent to Sibanye/Keliber's Lithium Pegmatite mines and production complex," commented Mike Basha. "This is an exciting time for lithium exploration and development in Finland as a complete lithium supply chain complex including spodumene concentrator plant and lithium chemical plant are under construction and EEMs projects are within 11 Miles of this infrastructure."

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 11 miles of the Keliber under construction which is expected to begin production in H2 2025.

FOR FURTHER INFORMATION PLEASE CONTACT:

Jeremy Poirier, CEO
Telephone: 604-722-9842
Email: info@europeanenergymetals.com

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/181051