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

Vancouver, British Columbia--(Newsfile Corp. - October 9, 2024) - European Energy Metals Corp. (TSXV: FIN) (the "Company"), announces today it will be seeking the approval of the TSX Venture Exchange to change its name from European Energy Metals Corp. to Grit Metals Corp. (the "Name Change"). The stock symbol of the Company's listed securities will remain the same. There is no change of business associated or being effected with respect of the proposed Name Change.

The Company is obtaining a new CUSIP and ISIN number for the Name Change. The effective date of the Name Change and the new CUSIP and ISIN number will be disclosed in a subsequent news release. With respect of a name change, shares normally commence trading under the new name at the opening of trading two or three trading days after the filing of documents by the Company confirming the name change. Notwithstanding the foregoing, the Name Change is subject to regulatory approval, and the board of directors may, at its discretion, determine not to implement the Name Change.

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 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 (NYSE: SBSW) 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:

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 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 implementation of the Name Change and the future results of operations, performance and achievements of the Company, including the presence of lithium or gold mineralization at, and the exploration and development potential of, the Company's properties. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct and readers are cautioned not to place undue reliance on forward-looking information. 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 requirement for TSX Venture Exchange of the Name Change, risks inherent in exploration of mineral properties as well as those described 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226145