European Energy Metals Corp. Announces Name Change to Grit Metals Corp.

Rhea-AI Summary

European Energy Metals Corp (TSXV: FIN) announces its name change to Grit Metals Corp, effective October 30, 2024. Trading under the new name will begin November 4, 2024, maintaining the symbol 'FIN'. The company focuses on the Lithium-Cesium-Tantalum Finnish Pegmatite Project in central Finland, located within 1km of the Keliber mine complex. The project benefits from a €600 million investment by Sibanye-Stillwater and Finnish Minerals Group in the region. The company also owns precious metals projects in Northern Finland's Paleo-Proterozoic Greenstone Terrane, an area hosting world-class gold and base metal deposits.

Positive

• Strategic location near Keliber mine complex under construction
• Benefits from €600 million regional investment in lithium infrastructure
• Multiple precious metals projects in established mining region

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - October 30, 2024) - Further to its press release dated October 9, 2024, European Energy Metals Corp. (TSXV: FIN) (the "Company"), is pleased to announce that the Company has filed a Notice of Alteration to change its name from "European Energy Metals Corp." to "Grit Metals Corp." The name change was approved by resolution of the board of directors of the Company dated October 18, 2024. The name change is effective October 30, 2024.

Accordingly, the Company's common shares will commence trading on a post-name change basis at the opening of the market on November 4, 2024, under the same trading symbol "FIN".

Trading on a Post-Name Change Basis: November 4, 2024
Trading Symbol: FIN
NEW CUSIP: 39868L102
NEW ISIN: CA39868L1022

About Grit Metals Corp.

Grit 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 exploration licenses are located within 1 kms of the Keliber mine and production complex, currently under construction and expected to begin production in H2 2025.

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 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.

On behalf of the board of directors of the Company:

Jeremy Poirier
Chief Executive Officer
Telephone: 604-722-9842

Neither 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.

Forward-Looking Information

This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations involving a number of risks and uncertainties and such forward-looking statements are not guarantees of future performance of the Company. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information in this news release, including without limitation, the following risks and uncertainties; (i) risks inherent in the mining industry; (ii) regulatory and environmental risks. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure materials filed with the with securities regulatory authorities in Canada at www.sedar.com. The Company assumes no obligation to update any forward-looking information except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228094

FAQ

When will European Energy Metals Corp (TSXV: FIN) start trading as Grit Metals Corp?

Grit Metals Corp will begin trading under its new name on November 4, 2024, maintaining the same trading symbol 'FIN' on the TSX Venture Exchange.

Where is Grit Metals Corp's main project located?

The company's main Lithium-Cesium-Tantalum Pegmatite Project is located in central Finland, within 1 kilometer of the Keliber mine and production complex.

What is the significance of the €600 million investment mentioned in relation to Grit Metals Corp's project?

The €600 million investment by Sibanye-Stillwater and Finnish Minerals Group is developing mining operations and processing facilities in the Kautinen Region, where Grit Metals' project is located, creating a complete lithium supply chain infrastructure.