European Energy Metals Closes the Acquisition of Additional Properties in Finland

Vancouver, British Columbia--(Newsfile Corp. - September 5, 2023) - European Energy Metals (TSXV: FIN) (FSE: W28) ("European Energy" or the "Company") is pleased to announce that it has received regulatory approval for and thus completed its previously announced acquisition of seven mineral reservations (the "Reservations") located in northern and central Finland (the "Transaction").

Pursuant to the Transaction, the Company has acquired all of the shares of BB Gold Inc., a company existing under the laws of Newfoundland and Labrador and its wholly owned Finnish subsidiary Sisu Exploration Oy, the direct owner of the Concessions, from a private individual (the "Vendor") in exchange for the issuance of 1,250,000 common shares (the "Consideration Shares"). The Consideration Shares are subject to the following contractual resale restrictions:

The Vendor has also been granted a 1% net smelter royal on six of the seven Concessions.

About the Properties

Through this agreement the company acquires a 100% interest in 7 Mineral Reservations covering approximately 3,106.5 km² as outlined in the Table and Map at the end of the press release and described more fully below.

Kontti and Kontti 2 Reservations
These reservations are underlain by a series of approximately 1.8 billion year old granitoids, including S-type "microcline" granites intruding migmatites and metasedimentary rocks of the Central Lapland Granitoid Complex and hosting numerous pegmatite occurrences. These reservations are considered prospective for battery and rare metals (Lithium, Cesium and Tantalum), and rare earth elements (Ytrium, Niobium and Fluorine) among others.

Haara Reservation
This reservation in the northern part of the Central Lapland Greenstone Belt (CLGB) is also underlain by a series of approximately 1.8 billion year old granitoids, including 2 mica granites intruding meta-sedimentary and meta-volcanic rocks and pegmatites. This reservation is considered prospective for battery and rare metals (Lithium, Cesium and Tantalum), and rare earth elements (Ytrium, Niobium and Fluorine) among others.

Mairivaara and Nousu Reservations
These reservations are underlain by mafic and ultramafic volcanic rocks and sedimentary rocks of the Central Lapland Greenstone Belt (CLGB) and are considered prospective for precious and base metals.

Angelvaara
This reservation is underlain primarily by mafic and ultramafic igneous rocks in the Eastern portion of the CLGB and is considered prospective for base (N-Cu-Co) and precious metals.

Kiila
This reservation is underlain primarily by meta-sedimentary rocks of the Pohjaanma Schist Belt which hosts the Kaustinen Li-Pegmatite cluster of deposits, currently under development and lies within 25 km of Keliber Oys Battery Metal Processing Plant in Kokkola, Finland. This reservation is contiguous with the Lappajarvi Reservation which is the subject of an agreement between the company and Capella Minerals Limited (See press release dated March 20, 2023). This reservation is considered prospective for battery and rare metals (Lithium, Cesium and Tantalum), and rare earth elements (Ytrium, Niobium and Fluorine) among others.

Figure 1

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R. Tim Henneberry, P.Geo. (BC), a Director of European Energy Metals Corp., is the Qualified Person who has reviewed and approved the technical content disclosed in this release.

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 concessions are located within 11 miles of the Keliber mine under construction which is expected to begin production in H2 of 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. 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. 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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