The publication of the Annual Report for the financial year 2024 of Eurobattery Minerals – which was scheduled for June 9, 2025 – is delayed. The reason for the delay is that the Company and its auditors need more time to finalize the annual report and complete the audit.

The reason for the postponement is that the accounts for the year 2024 are much more complex than previous years, given the vast amount of data from one of the subsidiaries. This is due to the fact that a large part of the Group´s business is conducted in Finland and that Eurobattery Minerals completed the last step of the acquisition of FinnCobalt Oy in 2024.

The Company and its auditors are working to finalize and publish the Annual Report as soon as possible. The new expected date of publication is 19 June 2025.

This request provides the Company with a clear opportunity to strengthen the application and ensure full alignment with the latest regulatory requirements under Regulation (EU) 2024/1252 and remains fully committed to advancing the Hautalampi project in line with the highest environmental and ESG standards.

Right to Participate and Notification

Shareholders who wish to participate at the annual general meeting must:

• be registered as a shareholder in the share register maintained by Euroclear Sweden AB on Thursday, June 19, 2025, and
• notify the Company no later than Tuesday, June 24, 2025, by post to Eurobattery Minerals AB, Strandvägen 7A, SE-114 56 Stockholm or by e-mail to ir@eurobatteryminerals.com. The notification should include the full name, personal or organizational number, shareholding, address, daytime telephone number, and, where applicable, information about proxies or assistants (maximum 2). The notification should be accompanied, where applicable, by powers of attorney, registration certificates, and other authorization documents.

Nominee-registered shares
Shareholders who have had their shares nominee-registered must, in order to be entitled to participate in the general meeting, have the shares registered in their own name, so that the shareholder is registered in the share register maintained by Euroclear Sweden AB on the record date, Thursday, June 19, 2025. Such registration may be temporary (so-called voting registration). Shareholders wishing to register shares in their own name must request such registration according to the respective nominee’s routines in time so that the registration by the nominee is made no later than Tuesday, June 24, 2025.

Number of Shares and Votes
The total number of outstanding shares and votes in the Company at the time of this invitation amounts to 436,306,174 (including the additional shares to be registered after the exercise of TO 6). The Company does not hold any shares.

Proposed agenda

1. Opening of the meeting
2. Election of the chairman of the meeting
3. Preparation and approval of the voting list
4. Approval of the agenda
5. Election of one or two persons to verify the minutes
6. Determination of whether the meeting has been duly convened
7. Presentation of the annual report and audit report and consolidated financial statements and consolidated audit report
8. Resolutions:
   1. the adoption of the income statement and balance sheet and the consolidated income statement and the consolidated balance sheet
   2. the allocation of the Company’s profit or loss according to the adopted balance sheet
   3. discharge from liability of board members and the CEO
9. Determination of fees for the board of directors and auditors
10. Election of the board and auditors
11. Resolution on a directed issue of performance shares
12. Resolution on incentive program for the CEO
13. Resolution on issue authorization for the board of directors
14. Closing of the meeting

PROPOSED RESOLUTIONS

Resolution on the allocation of the Company’s profit or loss according to the adopted balance sheet (item 8 b)
The board of directors proposes that the result for the year be carried forward.

Determination of fees for the board of directors and auditors (item 9)
The shareholder DH Invest AB (the “Shareholder“) proposes a total annual remuneration to the board of directors of SEK 420,000, of which SEK 180,000 to the chairman of the board and SEK 120,000 to each of the other board members appointed by the annual general meeting.

The Shareholder proposes that fees to the auditor, for the period until the end of the next annual general meeting, shall be paid in accordance with approved invoices.

Election of the board and auditors (item 10)
The Shareholder proposes that the number of board members shall amount to three persons with no deputies. The shareholder proposes that the number of auditors shall be one.

The Shareholder proposes to re-elect Eckhard Cordes, Jan Olof Arnbom and Roberto Garcia Martinez as members of the board of directors for the period until the end of the next annual general meeting. The Shareholder proposes that Jan Olof Arnbom be elected chairman of the board of directors.

The shareholder proposes re-election of Baker Tilly MLT Kommanditbolag as auditing firm with the authorized public accountant Stein Karlsen as auditor-in-charge with a term of office until the end of the next annual general meeting.

Resolution on a directed issue of performance shares (item 11)
The board of directors has resolved that the Company’s CEO, Roberto Garcia Martinez, in accordance with his employment contract, shall receive his bonus in the form of performance shares corresponding to 90 percent of his received gross salary during the financial year 2024.

The number of performance shares Roberto Garcia Martinez will be rewarded with has been determined based on the volume-weighted average price (VWAP) of the Company’s shares during the ten trading days preceding the date of publication of the notice of the annual general meeting. Accordingly, the board of directors has decided that Roberto Garcia Martinez shall be rewarded with 37,509,202 performance shares.

In order to complete the delivery of 37,509,202 performance shares, the board of directors proposes that the annual general meeting resolves on a directed share issue to the company Nazgero Consulting Services Ltd, wholly owned by Roberto Garcia Martinez, on the following terms and conditions.

The board of directors proposes that the annual general meeting resolves on a directed share issue of a maximum of 37,509,202 shares, entailing an increase in the share capital by a maximum of SEK 51,323.70. The following terms and conditions shall otherwise apply to the issue.

1. With deviation from the shareholders’ preferential rights, the new shares may only be subscribed for by Nazgero Consulting Services Ltd.
2. The subscription price per share shall amount to SEK 0.11 (corresponding to the volume-weighted average price for the Company’s share on NGM Nordic SME during ten trading days prior to the date of publication of this notice). The share premium shall be transferred to the unrestricted premium reserve.
3. Subscription of the shares shall be made through set-off no later than three weeks from the date on which the annual general meeting resolves on the new share issue. The board of directors has the right to extend the subscription period.
4. Payment for the subscribed shares shall be made by set-off of the claim consisting of the CEO’s bonus determined by the board of directors in accordance with the CEO’s employment contract. The board of directors has the right to extend the time for payment.
5. The new shares entitle to dividend for the first time on the record date for dividend that occurs immediately after the new shares have been entered in the share register.

The reason for the deviation from the shareholders’ preferential rights is the need to be able to pay remuneration to the CEO in a liquidity-efficient manner.

The maximum dilution effect as a result of the new issue of shares proposed under this item 11 amounts to approximately 8,5 percent based on the number of outstanding shares in the Company at the time of this notice.

Roberto Garcia Martinez did not participate in the preparation of the proposal under this item 11.

The resolution requires the approval of shareholders representing at least nine-tenths of both the votes cast and the shares represented at the annual general meeting.

Resolution on incentive program for the CEO (item 12)
The board of directors proposes that the annual general meeting resolves to implement a performance-based incentive program for the Company’s CEO (“LTI 2025“) in accordance with items (a) and (b) below. The purpose of the proposal is to create conditions for retaining and increasing the motivation of the Company’s CEO. The board of directors believes that it is in the interest of all shareholders that such a person, who is deemed to be important for the Company’s development, has a long-term interest in a good value development of the Company. The proposed program creates a long-term ownership commitment, which is expected to stimulate increased interest in the business and earnings development as a whole. The board of directors’ proposal for implementation of LTI 2025 in accordance with items (a) and (b) below constitutes a combined proposal and shall be resolved as one resolution.

(a) Proposal to implement an incentive program for the CEO
The program runs for approximately 3 years and entails that the participant, provided that the performance targets set out below are achieved, is granted the right to acquire shares in the Company free of charge at a subscription price corresponding to the share’s quota value (“Performance Share Rights“). For LTI 2025, the following terms and conditions shall apply:

For LTI 2025, the following terms and conditions shall apply:

1. A maximum of 600,000 Performance Share Rights may be granted within the framework of LTI 2025.
2. LTI 2025 is proposed to include the Company’s CEO, who shall be able to be allotted a maximum of 600,000 Performance Share Rights.
3. Allotment of Performance Share Rights is subject to the participant’s employment or assignment with the Company not having been terminated or cancelled, with certain exceptions for customary “good leaver” situations.
4. The Performance Share Rights shall be allotted to the participant free of charge provided that the performance targets relating to the Company’s strategic initiatives during the term of the program are achieved. The Performance Share Rights vest in equal parts annually. The number of Performance Share Rights vested shall be rounded down to the nearest whole number.
5. Provided that Performance Share Rights have been allotted and vested, each performance share right entitles the holder to, during the period from and including 16 June 2028 up to and including 7 July 2028 in accordance with the restrictions set out in item 3 above and subject to the Company’s determination, either (a) acquire one (1) share at a price corresponding to the quota value of the share (the current quota value is approximately SEK 0.0013 per share) or (b) receive a warrant free of charge entitling to subscribe for one (1) share in the Company at a subscription price corresponding to the quota value of the share.
6. Participation in LTI 2025 is subject to the condition that such participation is legally possible and that such participation can, in the Company’s opinion, take place with reasonable administrative costs and financial efforts.
7. The board of directors shall be responsible for the detailed content of the agreements with the participant and the administration of LTI 2025. In connection therewith, the board of directors shall have the right to make adjustments to meet special rules or market conditions abroad. Furthermore, in extraordinary cases, the board of directors has the right to limit the scope of or prematurely terminate LTI 2025, in whole or in part.
8. The number of shares that each performance share right may entitle to acquire shall be recalculated in the event of a share split, rights issue and similar corporate actions with the aim that the economic value of a performance share right shall not be affected by such events.

(b) Issue of warrants and approval of transfer/disposition of the warrants to the participant and third parties
The board of directors proposes that the Company shall issue a maximum of 788,520 warrants, of which 600,000 warrants shall be issued to ensure delivery of shares or warrants to the participant in LTI 2025 in accordance with the terms and conditions of the program, and 188,520 shall be issued to hedge the Company’s exposure to social security contributions that may arise as a result of the exercise of Performance Share Rights. The share capital may increase by a maximum of SEK 1,078.93.

1. The right to subscribe for the new warrants shall, with deviation from the shareholders’ preferential rights, only be granted to the Company. Onward transfer of 600,000 warrants may be made, on one or more occasions, to the participant in LTI 2025 or otherwise to a third party to deliver shares to the participant, in accordance with the terms and conditions of LTI 2025. Onward transfer of 188,520 warrants may be made to third parties with whom the Company has entered into an agreement in order to raise capital to cover the exposure to social security contributions linked to the exercise of Performance Share Rights.
2. The reason for the deviation from the shareholders’ preferential rights is the introduction of LTI 2025.
3. The warrants are issued free of charge.
4. Subscription of the warrants shall be made within 30 days from the date of the issue resolution. The board of directors has the right to extend the subscription period.
5. The warrants shall entitle the holder to subscribe for shares during a period running from and including 17 June 2028 up to and including 8 July 2028.
6. Each warrant shall entitle the holder to subscribe for one (1) share at a subscription price corresponding to the quota value of the share. Recalculation shall be possible in accordance with the complete terms and conditions of the warrants.
7. The newly issued shares shall entitle to dividend for the first time on the record date that occurs immediately after the subscription for shares through exercise of the warrants has been executed.
8. The warrants shall otherwise be subject to the terms and conditions set out in the complete terms and conditions for the warrants, which will be available on the Company’s website.
9. It is proposed that the board of directors, or a person appointed by the board of directors, be authorized to make such minor adjustments as may prove necessary in connection with the registration of the resolution with the Swedish Companies Registration Office.

Costs and dilution
The maximum dilution for existing shareholders as a result of LTI 2025, including warrants that may be issued as a result of hedging measures due to exposure to social security contributions that may arise, is 0.18 percent of the total number of shares in the Company. The dilution has been calculated as the number of additional shares in relation to the existing number of additional shares. The Performance Share Rights will be expensed as personnel costs over the vesting period, without impact on the Company’s cash flow. If Performance Share Rights are exercised, LTI 2025 will also entail costs in the form of social security contributions. The total costs for social security contributions depend partly on the participant’s employment relationship, partly on how many Performance Share Rights are vested, and partly on the value of the benefit that the participant ultimately receives, i.e. the value of the Performance Share Rights at exercise in 2028. Social security contributions will be expensed in the income statement during the vesting period. The Company intends to hedge for the entire exposure to social security contributions through an issue of warrants in the manner set out in the board of directors’ proposal in accordance with item (b) above, which may be exercised by a financial intermediary in connection with the exercise of the Performance Share Rights. If the Company chooses to implement such hedging measures, the social security contributions will not affect the Company’s cash flow. Based on the assumption that all Performance Share Rights included in LTI 2025 will vest, an assumed share price of SEK 1 at the time of exercise of the Performance Share Rights and an assumed average social security contribution percentage of approximately 31.4 per cent, the annual costs for the program, including social security contributions, are estimated to amount to approximately SEK 262,840, which corresponds to approximately 6.5 percent of the Company’s total annual salary costs for employees (including social security contributions) calculated on salary costs for the financial year 2024.

Information about other ongoing incentive programs
Information about the Company’s other ongoing incentive programs is set out in the Company’s annual report for the financial year 2024.

Preparation of the proposal
The board of directors has prepared LTI 2025 in consultation with external advisors. Roberto Garcia Martinez has not participated in the preparation of LTI 2025.

Majority requirements
The resolution requires the approval of shareholders representing at least nine-tenths of both the votes cast and the shares represented at the annual general meeting.

Resolution on issue authorization for the board of directors (item 13)
The Board of Directors proposes that the Annual General Meeting resolves to authorize the Board of Directors, during the period until the next Annual General Meeting, to resolve on the issue of a maximum number of shares, convertibles and/or warrants that entitle to subscription of, or entail the issue of, a maximum number of shares within the limits of the Articles of Association, with or without deviation from the shareholders’ preferential rights. The authorization may be exercised on one or more occasions and the Board of Directors shall have the right to decide on the detailed issue terms on each individual occasion. In addition to cash payment, payment may also be made with consideration other than in cash or by set-off, or otherwise with conditions.

In order for the Company’s current shareholders not to be disadvantaged in relation to the external investor or investors who may subscribe for shares in the Company, the Board of Directors considers it appropriate that the issue with deviation from the shareholders’ preferential rights shall be made at the Board’s market-based subscription price, subject to a market-based issue discount where applicable.

A valid resolution requires that it has been supported by shareholders representing at least two-thirds of both the votes cast and the shares represented at the Annual General Meeting.

Shareholders’ right to receive information
The board of directors and the CEO shall, if any shareholder so requests and the board of directors considers that it can be done without material harm to the Company, provide information on circumstances that may affect the assessment of an item on the agenda, circumstances that may affect the assessment of the Company’s or its subsidiaries’ financial situation and the Company’s relationship with other group companies.

Documents
Documents according to the Swedish Companies Act will be made available for shareholders at the Company and on the Company’s website in accordance with the above no later than three weeks before the annual general meeting. All of these documents will also, without charge, be sent to shareholders who so request and state their address.

Processing of personal data
For information on how personal data is processed in connection with the annual general meeting, please see the privacy policy available on Euroclear Sweden AB’s website, https://www.euroclear.com/dam/ESw/Legal/Integritetspolicy-bolagsstammor-svenska.pdf.

________
Stockholm in May 2025
Eurobattery Minerals AB
The Board of Directors

“The zoning approval marks another step forward and reinforces the viability of the Hautalampi project. The approval also significantly de-risks the project. We are especially encouraged by the strong local support, which reflects the trust we’ve built through our commitment to transparency, environmental stewardship, and sustainable development. The approval is an important step in delivering long-term value to our shareholders while contributing to Europe’s secure and responsible supply of critical raw materials,” says Roberto García Martínez, CEO of Eurobattery Minerals.

The City Council of Outokumpu held a plenary on Monday 26 late in the afternoon, where they approved the zoning plan which had been submitted by the City Board. There is a 30-day appeal time for the City Council decision.

This approval marks the final step in the zoning process and grants Eurobattery Minerals, through its subsidiary FinnCobalt Oy, the necessary framework for building permits. The decision underscores strong local support for the project and confirms Hautalampi’s alignment with the city’s development goals and Finland’s commitment to sustainable mining.

“We are very pleased with the City Council’s decision, which not only strengthens the foundation for our future operations but also demonstrates clear local support for responsible mining. The approved zoning is now fully aligned with Finland’s updated Mining Act and brings us another step closer to developing a sustainable, domestic source of battery minerals for Europe,” says Ilari Kinnunen, Managing Director of FinnCobalt.

The Company´s auditor Baker Tilly has, due to a delay with the audit processes in the subsidiaries, asked for more time to perform the audit and to postpone the publication of the Annual Report. The new release date for the Annual Report 2024 is Monday 9 June 2025.

Due to the delay in the publication of the Annual Report 2024, the AGM also has to be suspended. The original date for the AGM was 17 June. The Annual General Meeting will now instead be held on Monday 30 June 2025.

Number of shares and share capital
Through the new share issue the Company will receive gross proceeds of approximately SEK 6.4 million before issue costs of approximately SEK 0.2 million. The number of shares will increase by 70,888,253 shares, from 365,417,921 shares to 436,306,174 shares, when the new shares are registered by the Swedish Companies Registration Office. The share capital will increase by approximately SEK 96,996.14, from SEK 500,000.00 to approximately SEK 596,996.14, which implies a dilution of approximately 16.2 per cent.

Advisers
Augment Partners AB acted as the financial advisor to the Company in connection with the transaction.

“Outokumpu has a proud mining heritage, and the Hautalampi project represents a modern continuation of that tradition. This zoning proposal supports local vitality and economic development, while also reflecting a strong commitment to environmentally responsible and sustainable mining,” says Päivi Lintumäki, Mayor of the City of Outokumpu.

This week, the City Board of Outokumpu reviewed the detailed zoning plan for the Hautalampi battery mineral project, owned by the Company’s wholly owned subsidiary, FinnCobalt Oy. The zoning proposal covers a total of 309 hectares, including 277 hectares within the legally approved mining concession area. The plan has already passed earlier procedural stages, including public consultation and stakeholder review, and now progresses toward final approval.

“The City Board’s zoning proposal is more than a step forward—it represents strong support from the City of Outokumpu for the Hautalampi battery mineral project. While this zoning process will ultimately deliver us the building permits, it also provides a clear foundation for future mining operations in line with Finland’s updated Mining Act. Even though our current permit falls under the previous legislation, we fully welcome the transparency and structure this process brings,” says Ilari Kinnunen, Managing Director of FinnCobalt.

The zoning proposal has been submitted to the Outokumpu City Council for final approval.

“In today’s increasingly volatile world—with rising geopolitical tensions and a global race for critical raw materials—Europe cannot afford to stand still while nearly every nation advances its clean energy transition and strengthen their defence sector. If we want mining to happen here in Europe, we must address three fundamental issues: faster permitting processes, harmonized and stable EU regulations, and significantly more financing. True that money isn’t everything, but without it, nothing moves forward. Finally, we must shift public perception by showing that modern, responsible mining is essential for the green transition and Europe’s strategic autonomy. Optimized environmental protection can only be achieved if we have full control over project implementation—and this can only be achieved in Europe. In this context, continued access to capital through instruments like our TO6 warrants is not just helpful—it is vital to move projects like Hautalampi into production and help secure Europe’s raw material future,” says Roberto García Martínez, CEO of Eurobattery Minerals AB.

Strategic and operational highlights during Q1-2025

• January: We announced that the Hautalampi battery mineral mine could be part of a regional pilot project for carbon capture and storage in hardened backfill of the mine.
• March: Our Finnish subsidiary signed a LOI with ABB to develop innovative, sustainable mining solutions via electrification, instrumentation, automation, and digitalization (EIAD) to improve efficiency, safety, and environmental performance.
• March: Eurobattery Minerals submitted, via its subsidiary FinnCobalt Oy, an application for the ERMA Booster Call 2025 – a funding initiative by EIT RawMaterials aimed at boosting Europe’s raw materials resilience. The program offers up to €2.5 million for mining projects.
• March: Eurobattery Minerals announced that its Hautalampi project in Finland had been independently recognized as the fifth-largest undeveloped cobalt project in the Nordics, with 7,840 tons of contained cobalt. The project also holds significant copper resources, totalling 17,700 tons, which puts it on the Top 20 List for undeveloped copper project.

Key financial figures for Q1-2025

• Net sales amounted to SEK 0 thousand (Q1 2024: SEK 0 thousand).
• Operating profit/loss after financial items totalled SEK -2,946 thousand (Q1 2024: SEK -4,551 thousand)

• Earnings per share after financial items before dilution amounted to SEK -0.01 (Q1 2024: SEK -0.11).
• Earnings per share after financial items after dilution amounted to SEK -0.01 (Q1 2024: SEK -0.04).
• Cash flow from operating activities was SEK -335 thousand (Q1 2024: SEK -7,960 thousand).

Detailed financial information
The Interim Report for the period January-March 2025 from Eurobattery Minerals AB is available for download at the Company’s website and can be viewed in the attachment of the release (see below).

Under the terms of the MoU, the parties will evaluate the possibility of processing 100% of the nickel-cobalt concentrate produced at FinnCobalt´s Hautalampi concentrator at Terrafame´s site. The initiative marks a step forward in both companies’ commitment to advancing responsible and efficient processing of critical battery minerals. The program is set to be finalized before the end of 2026.

“By locking in partnerships with leading industry players like Terrafame, we not only safeguard against market fluctuations but also reinforce our role in delivering critical battery materials responsibly and sustainably. This program with Terrafame will lay the foundations for a framework from which we then can secure a robust offtake agreement for nickel and cobalt, which is pivotal for our growth, ensuring stable demand and strengthening our financing foundation,” said Roberto García Martinez, CEO of Eurobattery Minerals.

Terrafame is a Finnish mining and chemical company founded in 2015 that owns the Europe’s largest nickel mine, metal factory and a factory for battery chemicals in Sotkamo. The Finnish state owns the majority of the company. Terrafame produces low-carbon battery chemicals for the global EV industry, with one of the world’s largest nickel sulphate plants capable of supplying materials for about 1 million electric vehicles annually. Its integrated, energy-efficient production process ensures a traceable and sustainable European supply chain.

“This MoU with Terrafame reflects our shared ambition to unlock the value of responsibly sourced battery minerals and strengthen domestic processing capabilities within Europe,” said Ilari Kinnunen, Managing Director of FinnCobalt.

This MoU highlights the Strategic Collaboration between the parties the intention to co-develop a refining program for the Hautalampi nickel-cobalt concentrate, targeting synergies between FinnCobalt´s planned production and Terrafame´s operational capabilities. The projected annual output from the Hautalampi project is approximately 1,300 tons of nickel and 400 tons of cobalt in concentrated form.

This collaboration supports the broader goal of establishing more sustainable and localized supply chains for critical raw materials essential to the green transition in Finland and Europe.

About Terrafame
Terrafame enhances low-carbon mobility by delivering responsibly produced battery chemicals to the global battery industry. One of the world’s largest production lines for chemicals used in electric vehicle batteries is located on Terrafame’s industrial site. The plant is capable of producing nickel sulphate for around 1 million EVs per year. The carbon footprint of the nickel sulphate produced by Terrafame is among the smallest in the industry.
Terrafame’s integrated, unique and energy-efficient production process from the mine to battery chemicals is located on a single industrial site. It provides customers with a transparent, traceable and truly European battery chemical supply chain.
Terrafame Ltd was founded in 2015. Its net sales in 2024 were EUR 544.5 million. Around 2,000 people work on its industrial site regularly, approximately 1,200 of whom are employees of partner companies.

The rock formations in these areas are Outokumpu-type rock assembles, which are known to contain copper, cobalt, zinc, nickel, silver, and gold (Cu-Co-Zn-Ni-Ag-Au).

“We are delighted that, after a rigorous review process dating back to 2020, the authorities have finally granted us the new exploration permits for the Hietajärvi and Saramäki mineralisations. This decision not only strengthens Eurobattery Minerals’ project pipeline, but also reinforces Europe’s strategic autonomy in critical raw materials, supporting the energy transition, digitalization, and defence industries. We look forward to delivering concrete results in the field and creating value for our shareholders as we move toward,” said Roberto García Martínez, CEO of Eurobattery Minerals.

The Saramäki mineralisation was discovered in 1967 by Outokumpu Oyj and it is located in Polvijärvi, Eastern Finland. It lies approximately 40 km away from Outokumpu town, where our Hautalampi battery mineral project is located. Co/Ni ratios of the mineralisation and historical exploration work clearly indicate that the Saramäki is an undoubted example of an Outokumpu-type mixed hydrothermal mineralisation system with massive-semimassive and disseminated sulphides. A non-compliant historical resource estimate calculations have been made for the Saramäki mineralisation and it could contain the amounts stated below.

Calculation Saramäki year 1980
A non-compliant historical resource estimate: 3.4 Mt @ Cu 0.71%; Zn 0.63%; Co 0.086%; Ni 0.05%; Fe 17.87%; S 12.39%. Cut-off 0.5% Cu
UNFC Classification Class 334: Cu 24,140t; Co 2,924t; Zn 21,420t; Ni 1,700t; S 421,260t; Fe 607,580t.

“Securing these exploration permits is great news for FinnCobalt and Eurobattery Minerals. We can now apply modern geophysical surveys and targeted drilling in these areas, advancing our understanding of its polymetallic potential and laying the groundwork for resource definition” said Kalle Penttilä, Project Geologist at the Hautalampi battery mineral project in Outokumpu.

The Hietajärvi mineralisation is documented to be an Outokumpu-type mixed hydrothermal system with massive and disseminated sulphides. Outokumpu Oyj investigated the region between 1955 and 1994 completing multiple exploration campaigns and pilot plant tests. Outokumpu Oyj ultimately defined a mineralised body consisting of two, nearly E-W trending sulphide lodes dipping 40-50°S. The lodes are 200 meters (E-lens) and 100 meters (W-lens) in length and have thicknesses varying between 3 meters and 20 meters. The prospect has seen little advanced exploration work completed at the prospect subsequent to Outokumpu Oyj.

Calculation Hietajärvi year 1994
A non-compliant historical resource estimate: 0.341Mt @ 0.15% Co; 0.7% Cu; 1.2% Zn; 0.18% Ni (2.33% CuEq)
UNFC Classification Class 334: Co 512t, Cu 2421t, Zn 4126t, Ni 614t

Ilari Kinnunen, Managing Director of FinnCobalt, added: “These regions are well known to contain Outokumpu-type rock, famous for Cu-Co-Zn-Ni-Ag-Au. Both of these areas are very interesting and have the potential to become future polymetallic sources. In these times of geopolitical tensions and intense resource competition, these new mineralisation’s could be particularly relevant for Europe highlighting the copper criticality for the future.”