23.09.2020

Zugemailt von / gefunden bei: European Lithium (BSN-Hinweis: Lauftext im Original des Aussenders, Titel (immer) und Bebilderung (oft) durch boerse-social.com aus dem Fotoarchiv von photaq.com)

EUROPEAN LITHIUM WINS LANDMARK BALLOT VICTORY OVER STRATEGIC TENEMENT IN NORTH WEST WA AND OFFERS SHARE PURCHASE PLAN TO EXISTING SHAREHOLDERS

Highlights

• EUR secures E47/4144 in ballot under the WA Mining Act held on 18 September 2020. The ballot was contested by 13 other applicants in addition to EUR;

• Subject to Ministerial approval, upon grant E47/4144 to be 100% legally owned by EUR, and 50% beneficially held by EUR and 50% for a third party;

• E47/4144isanewlycreatedtenementofapproximately130km2whichsurroundsthe Chinese owned Mt Anketell iron deposit (see map below

• Severalrecentdiscoveriesofconglomerategoldintheregionandinparticularinthe Artemis JV Project tenure adjacent and to the south;

• EUR will immediately commence reconnaissance exploration to test the conglomerate gold potential within the tenement;

• Ofequalimportance,EURwillalsocommencedesktopstudiesoftheironoredeposit extension opportunities that were previously identified by Cape Lambert when it held the Project;

• EUR has commenced discussions with its recently appointed strategic partner (27 May 2020), Talaxis Limited (“Talaxis”) in respect of a number of possible funding opportunities regarding E47/4144. Talaxis is a wholly-owned subsidiary of Noble Group Holdings Limited which is a significant world-wide iron ore trader and iron ore mine owner as well as being a global leader in EV technology metals project development; and

• Inadditiontothesuccessfulplacementtoraise$2.1m(22September,2020)EURwill also undertake a Share Purchase Plan (SPP) to raise up to $2m.

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