Eurobattery Minerals AB (Nordic Growth Market: “BAT”; “the Company”) a growth company in the mining and exploration industry with the vision to help Europe become self-sufficient in ethical battery minerals, today announces that Vulcan Hautalampi Oy (“VHOy”) has commenced the Environmental Impact Assessment (“EIA”) procedure for its 100% owned Hautalampi nickel (Ni), cobalt (Co), copper (Cu) project (“Hautalampi”; “the Project”) in Outokumpu, eastern Finland. Eurobattery Minerals has the option to acquire 100% of VHOy in a staged acquisition.

Key points:

• Hautalampi Ni-Co-Cu EIA procedure commenced for combined mining operations and processing plant to produce EV battery chemicals.
• Environmental permit for underground mining and off-site toll treatment of ore still valid.
• Expert Finnish environmental consulting and planning company Envineer Oy commissioned to deliver the EIA on behalf of VHOy. Envineer has been involved in most mining related EIAs and permit applications in the region.
• EIA procedure consists of two parts: the EIA programme and EIA report.
• The EIA programme will be prepared for the mining operations, processing plant and battery chemicals plant. It will include the relevant production sub-options and describes the current state of the environment related to the project, how the environmental impacts will be assessed and a plan on how the effects will be investigated.
• As a part of the EIA procedure, a preliminary consultation meeting has been conducted between the key authorities and VHOy. Involving stakeholders in the assessment work is also an essential part of the EIA procedure. To address this, VHOy will convene an EIA-procedure monitoring group.
• The EIA report describes the mining operation and processing options, describing the results of the assessment specified in the programme phase and evaluates the technical viability of the project from the environmental point of view.
• VHOy anticipates the EIA procedure will be completed in less than 12 months and will be followed immediately with the Environmental Permit Application.

“We are incredibly pleased that Vulcan Hautalampi Oy has commenced the EIA procedure so quickly. The EIA is an important step in the process of preparing a fully-fledged mine and battery chemicals plant. This brings Eurobattery Minerals closer to becoming a supplier of ethically sourced and traceable minerals and chemicals critical for the EV industry”, said Roberto García Martínez, CEO of Eurobattery Minerals.  

VHOy (aka FinnCobalt), has informed the Company that the process for advancing the EIA for combined mining and processing at Hautalampi has commenced. It is the Company’s vision to produce Cu-concentrate and either Ni-Co-concentrate or even high value battery Ni-Co-chemicals suitable for electric vehicle (EV) battery manufacturing. This would fulfil the Company’s strategy of being a foundation member of the EV battery value chain in Europe.

The purpose of the EIA procedure is to generate information on the environmental impacts of a project, facilitate the consideration of environmental issues in planning and decision-making processes, and give the public and other stakeholders opportunities to participate in and affect these processes. An EIA must be conducted for all mining projects and is defined by law (EIA Act and Decree [227/2017]). The developer is responsible for investigating and assessing the environmental impacts of the project.

A preliminary consultation meeting has been held between key authorities and VHOy. The involvement of key stakeholders throughout the assessment process is a prerequisite and VHOy looks forward to engaging with them throughout the procedure. VHOy will convene an EIA-procedure monitoring group to facilitate the flow of information.

EIA procedure

The EIA procedure forms part of project planning and is conducted before any decisions are made to officially approve a proposed project. The EIA has two main phases resulting in the publication of an EIA programme and an EIA report. Arrangements for participation play an important role in both phases (Figure 1). The EIA programme will be published and a public hearing will be organised. All relevant stakeholders have a right to give their view of the planned EIA. The EIA procedure concludes with a view and justified conclusion provided by the coordinating environmental authority.

The most essential steps in the EIA procedure include: an assessment of the current state of the environment; definitions of various project alternatives, assessments of their environmental impacts, and a comprehensive picture of the impacts of the project and its implementation alternatives, presented together with assessments of the scale and significance of such impacts; plans for the mitigation of detrimental impacts; and the publication of an accurate and coherent EIA report. It must assess impacts on nature, human beings and the built environment and cover exceptional situations, environmental accidents, and means to mitigate adverse impacts.

Figure 1. EIA procedure (from Finnish Environment Institute).

Envineer Oy

Envineer Oy is a Finnish planning and consulting company founded in 2017. It operates throughout Finland and provides services from small design tasks to managing large projects. Envineer offers expert services in environmental consulting, nature surveys and assessments, contaminated land, waste management and material recovery, spatial planning, geo- and structural engineering, construction, and environmental research and rehabilitation. At the heart of the services are flexibility, reliability and expertise. It is a strong expert in mining, earth and aggregate projects and supporting the implementation of regulatory obligations.

For further information, please contact:

Roberto García Martínez, CEO 

E-mail: roberto@eurobatteryminerals.com

Website: https://investors.eurobatteryminerals.com//en/

This information is the sort of information that the company is obliged to disclose under the EU market abuse regulation. The information was submitted by the above contact person for publication on 17 August 2020 at 08:00 CEST.

About Eurobattery Minerals

Eurobattery Minerals is a mining and prospecting company focused on battery minerals such as nickel, cobalt, copper and rare earth elements. Business activities and operations are conducted exclusively in Europe with a focus on Finland, Spain and Sweden. The Company has one mining licence and eight exploration licences. The headquarters are located in Stockholm.

Augment Partners AB, e-mail: info@augment.se, phone: +46 8 505 651 72, is the company’s Mentor.

Second quarter 2020 (same period previous year)

• Net sales amounted to SEK 0 (SEK 0).
• Operating income after depreciation/amortisation and financial items totalled SEK –2,934 thousand (SEK –4,736 thousand).
• Earnings per share after depreciation/amortisation and financial items amounted to SEK –0.53 (SEK –0.77).
• Cash flow from operating activities was SEK –1,124 thousand (SEK –4,100 thousand).

First six months 2020 (same period as previous year)

• Net sales amounted to SEK 0 (SEK 0).
• Operating income after depreciation/amortisation and financial items totalled SEK –5,182 thousand (SEK –6,840 thousand).
• Earnings per share after depreciation/amortisation and financial items amounted to SEK –0.53 (SEK –1.12).
• Cash flow from operating activities was SEK –3,646 thousand (SEK –5,664 thousand).

Significant events during the period

• The Company announced the option to acquire Vulcan Hautalampi Oy (VHOy), sole owner of the Hautalampi Nickel-Cobalt-Copper (Ni-Co-Cu) Project, located in the historic mining centre of Outokumpu, Finland. The transaction is a transformational deal for the Company, positioning it as a near-term producer of critical battery metals [1].
• Final results were received from nickel in sulphide mineral assays on mineralised samples from 2019 drilling at the Castriz prospect, part of the Corcel Ni-Co-Cu Project in NW Spain [2].
• Prospective area at Castriz now confirmed for over 700m in strike length and approximately 700m in width with mineralisation commencing at surface to a vertical depth of 200m, making Castriz potentially amenable to low-cost, open pit bulk mining. Mineralisation is still open in several directions [3].
• Collaboration with Uppsala University and the AGH University of Science and Technology in Krakow on the vanadium potential of rock sequences at the Fetsjön project in Västerbotten determined the host mineral to be a variety of rutile.
• The Company has been pre-selected to take part in the EU project S3-MINE.
• A rights issue was launched to raise up to SEK 46.5m (€4.44m). The rights issue was secured to SEK 23.3m by the Company’s CEO, Roberto Garcia Martinez, and external underwriters. The proceeds from the rights issue will be used to increase the Company’s beneficial interest in VHOy by advancing the Hautalampi Project in Finland and to continue financing the Corcel Project in Spain.
• The Company welcomed the election of Henrik Johannesson as Chairman. Henrik has broad experience across industries and markets, including extensive executive management experience. Monia Benbouzid and Martin Boldt-Christmas stepped down from the Board of the Company to coincide with Henrik Johannesson’s appointment.

Significant events after the period

• The Company has completed the rights issue of units with a subscription period from 29 June to 14 July 2020. The rights issue was subscribed to 209 percent and the Company will receive approximately SEK 47.3 million before issue costs [4].
• The Company announced that Vulcan Hautalampi Oy commenced drilling at the Hautalampi nickel (Ni), cobalt (Co), copper (Cu) project in Outokumpu, eastern Finland [5].

Summary of CEO comments:

The second quarter of 2020 has been one of the most active periods since I assumed my role as CEO of Eurobattery Minerals. I am pleased to say that we have made considerable progress in our vision of helping Europe become self-sufficient in terms of ethical and fully traceable battery minerals for the electric vehicle industry. This includes advancements in our current projects, expansion of our operations to include Finland, and strengthening of our Company management with our new Chairman of the Board.

With the continuous health crisis connected to COVID-19 the Company has successfully adapted its working methods, and we have managed to continue operating according to plan”.

Eurobattery Minerals AB Interim Report January – June 2020 is attached to this press release and is available to download from the Company’s website: https://investors.eurobatteryminerals.com//en/economic-reports/

For further information, please contact:

Roberto García Martínez, CEO

Email: roberto@eurobatteryminerals.com

This information is of the kind that the Company is required to disclose in accordance with the EU’s Market Abuse Regulation. The information was issued for publication through the agency of the contact person set out above on 12th of August 2020 at 08:00 CEST.

Eurobattery Minerals in brief

Eurobattery Minerals is a mining and prospecting company focused on battery minerals such as nickel, cobalt, copper and rare earth elements. Business activities and operations are conducted exclusively in Europe with a focus on Finland, Spain and northern Sweden. The company has two mining licenses and eight exploration licenses. The headquarters is located in Stockholm. 

Augment Partners AB, tel. +46 8 505 651 72, email: info@augment.se is Eurobattery Minerals’ Mentor

[1] Eurobattery Minerals signs investment agreement with option to aquire the Hautalampi nickel-cobalt-copper mine, press release 11/05/2020.

[2] Final assays confirm high nickel sulphide discovery at Corcel Project. Press release 22/06/20.

[3] Final Results From Drilling Show Larger Prospect Zone Than Expected In Castriz drill results. Press release 28/01/20.

[4] Eurobattery Minerals’ rights issue subscribed to 209 per cent, the Company will receive SEK 47.3 million. Press release 17/07/2020

[5] Drilling to commence at the Hautalampi project, Finland. Press release 09/08/2020

Eurobattery Minerals AB’s rights issue of units has been registered with the Swedish Companies Registration Office. The last day for trading in paid subscribed units (“BTU”) is 12 August 2020. Euroclear’s record date for conversion from BTU to shares and warrants is 14 August 2020. The new shares and warrants are expected to be distributed to the respective shareholder’s VP account/depot on 18 August 2020. The first day for trading on NGM Nordic SME in the warrants of series 2020:1 (Ticker: BAT TO2) is18 August 2020. 

For further information, please contact:

 Roberto García Martínez, CEO 

Email: roberto@eurobatteryminerals.com 

Eurobattery Minerals in brief 

Eurobattery Minerals is a mining and prospecting company focused on battery minerals such as nickel, cobalt, copper and rare earth elements. Business activities and operations are conducted exclusively in Europe with a focus on Finland, Spain and northern Sweden. The company has two mining licenses and eight exploration licenses. The headquarters is located in Stockholm.  Augment Partners AB, tel. +46 8 505 651 72, email:info@augment.seis Eurobattery Minerals’ Mentor

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SWITZERLAND, SINGAPORE, SOUTH AFRICA, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL, BE SUBJECT TO LEGAL RESTRICTIONS OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES

Eurobattery Minerals AB (NGM Nordic SME: “BAT”; “the Company”) has completed the rights issue of units with subscription period from 29 June to 14 July 2020 (the “Rights issue”). The Rights issue has been oversubscribed and the Company will receive approximately SEK 47.3 million, before issue costs. The subscription price in the Rights issue was SEK 24.00 per unit, where a unit consists of two shares and one warrant. Approximately SEK 37.3 million, corresponding to approximately 78.9 per cent of the Rights issue, was subscribed for and allocated to investors that subscribed with unit rights. Approximately SEK 10.0 million, corresponding to approximately 21.1 per cent of the Rights issue, was subscribed for and allocated without unit rights. The outcome of the Rights issue means that no underwriting commitments will be claimed. The proceeds from the Rights issue has secured funding for continued mining operations in both the Corcel- and Hautalampi-projects and enables the Company to carry out feasibility studies for both projects.

Through the Rights issue the Company will receive approximately SEK 47.3 million of which approximately SEK 0.6 million is paid by setting off a claim against BAT by the Company’s CEO. The number of shares will increase by 3,938,142 from 9,845,357 to 13,783,499 when the new shares are registered with the Swedish Companies Registration Office, while the share capital will increase by SEK 3,938,142 from SEK 9,845,357 to SEK 13,783,499. This corresponds to a dilution of approximately 28.6 per cent. When the registration has taken place, paid subscribed units (BTU) are converted into shares and warrants. A total of 1,969,071 warrants will be registered, which give the holder the right to subscribe for one new share in the Company per exercised warrant during the period 5-16 October 2020. If all warrants are exercised, this corresponds to a dilution of an additional 12.5 per cent.

Allocation of units subscribed for without unit rights has been carried out in accordance with the allocation principle stated in the prospectus, which was made in connection with the Rights issue and was published on 25 June 2020. Notice of allocation of units subscribed without unit rights will be sent to those allotted units today, 17 July 2020. The subscribed and allotted units must be paid for in cash and payment must be received by Aqurat Fondkommission AB no later than the settlement date, 22 July 2020, according to instructions on the settlement note. No message is sent to those that have not been allotted any units.

“We are committed to be the foundation of the battery value chain in Europe and it’s great to see the big support we receive from current and new investors. With this capital raise we are able to accelerate our business strategy by shortening the time for us to become a producer of ethical and fully traceable battery minerals for the electric vehicle industry”
, says Roberto García Martínez, CEO of Eurobattery Minerals.

Advisers

Augment Partners AB acted as financial adviser to the Company in the Rights issue. Bird & Bird Advokat KB acted as legal adviser to the Company.

For further information, please contact:

Roberto García Martínez, CEO

Email:

roberto@eurobatteryminerals.com

This information is of the kind that the Company is required to disclose in accordance with the EU’s Market Abuse Regulation. The information was issued for publication through the agency of the contact person set out above on 17 July, 2020 at 8:00 CEST.

Eurobattery Minerals in brief

Eurobattery Minerals is a mining and prospecting company focused on battery minerals such as nickel, cobalt, copper and rare earth elements. Business activities and operations are conducted exclusively in Europe with a focus on Spain, Finland and northern Sweden. The company has two mining licenses and eight exploration licenses. The headquarters is located in Stockholm.

Augment Partners AB, tel. +46 8 505 651 72, email:

info@augment.se

is Eurobattery Minerals’ Mentor.

Important information

Publication or distribution of this press release may in some jurisdictions be subject to statutory and legal restrictions and persons in those jurisdictions where this press release has been published or distributed should inform themselves about and observe such restrictions. The information in this press release does not constitute an offer to acquire, subscribe or otherwise trade in shares or other securities in Eurobattery Minerals.

This press release does not constitute an offer to acquire securities in the United States. The securities mentioned herein may not be sold in the United States without registration in accordance with The Securities Act of 1933 or without the application of an exception to such registration. The information in this press release may not be released, published, reproduced or distributed in or to the United States, Australia, Canada, New Zealand, Hong Kong, Japan, Switzerland, Singapore, South Africa, or any other country or jurisdiction where such action is not permitted or such action is subject to legal restrictions or would require further registration or other measures than required by Swedish law. Measures contrary to this instruction may constitute a breach of applicable securities laws.

Eurobattery Minerals AB (Nordic Growth Market: “BAT”; “the Company”) a growth company in the mining and exploration industry with the vision to help Europe become self-sufficient in ethical battery minerals, today announces that Vulcan Hautalampi Oy (“VHOy”) is about to commence drilling at the Hautalampi nickel (Ni), cobalt (Co), copper (Cu) project (“Hautalampi”; “the project”) in Outokumpu, eastern Finland. The Company has the option to acquire 100% of VHOy in a staged acquisition for an aggregate consideration of €6.05m in shares and cash.

Key points:

• 
  
  
  
  
  Diamond drilling at the Hautalampi Ni-Co-Cu mine development to commence Monday
  
  
  
  
  
  
  
  13
  ^th July.
  
  
  
  
  
  
  
• 
  
  
  
  
  
  Phase 1 drilling programme to consist of 45 – 50 drill holes for approximately 4,500 – 5,000m aimed at increasing the Mineral Resource base.
  
  
  
  
  
  
• 
  
  
  
  
  
  Drilling to target “Blue Sky” mineralisation to the northeast and along strike of the existing Hautalampi Mineral Resource Estimate of
  
  
  
  
  
  
  
  3.2Mt @ 0.43% Ni, 0.35% Cu and 0.12% Co.
  
  
  
  
  
• 
  
  
  
  
  
  Blue Sky zone measures 2,080m in length and 470m in width, offering the potential for a substantial increase in resource tonnage.
  
  
  
  
  
  
• 
  
  
  
  
  
  A minimum exploration target of
  
  
  
  
  
  
  
  2.8 – 4.5Mt at 0.28 – 0.36% Ni has been identified within 40m of historical drilling. Substantial resource upside of more than 6.5Mt has been identified within 100m of historical drilling.
  
  
  
  
  
• 
  
  
  
  
  
  Approximately two thirds of the Blue Sky zone to be tested during phase 1 drilling, targeting the most prospective areas over an area of 720m in strike and 320m in width.
  
  
  
  
  
  
• 
  
  
  
  
  Drilling to target the
  
  
  
  
  
  
  
  shallowest mineralisation in the Blue Sky areas which is potentially amenable to low cost, open pit mining.
  
  
  
  
  
  

The 100% owner and manager of the Hautalampi Project, VHOy, have informed the Company that a diamond drill rig and crew are scheduled to arrive at the site on Monday 13
^th July with drilling to commence immediately. The drilling contractor, Northdrill Oy,
www.northdrill.fi/en is an experienced operator in Finland and previously worked on the project in 2017-2018.

– We are incredibly pleased and satisfied for this smooth and quick start-up of the drilling campaign at Hautalampi, said Roberto García Martínez, CEO of Eurobattery Minerals
. Desktop studies of historical drilling and the geological model has recognised the area for resource expansion is greater than previously identified. This is an exciting time for both companies as we fast-track the project to production and we look forward to seeing the results of the drilling over the coming months.

The Project

The Hautalampi Project is located at the same site as the famous Keretti (Outokumpu) copper mine (Figure 1). Approximately 28.5Mt @ 3.8% Cu was mined at Keretti from 1912 – 1989. The Hautalampi Ni-Co-Cu orebody is located parallel and above the exploited copper deposit. Existing surface and underground infrastructure, including a high voltage power line, concrete foundations and roads, provide significant location advantages to the project. Approximately €10-15M has been invested in Hautalampi by previous owners, including 22,000m of core drilling, a decline and additional underground mine development works (2,100m), mineral resource and reserve estimates, multiple mineral processing studies and a feasibility study. Previous investment enables VHOy and BAT to fast-track the project to an updated feasibility study status.

Figure 1. Location map of Hautalampi Project, eastern Finland.

Drilling Programme

The phase 1 drilling programme has been planned to cover approximately two thirds of the prospective Blue Sky zone. Approximately 45 – 50 drill holes have been planned for 4,500 – 5,000m (Figure 2). Drilling will be undertaken by Northdrill Oy, an experienced contractor with substantial experience in the project area. The drill rig is well conditioned to operate year round, including winter (Figure 3). Drilling rates are anticipated to be approximately 1,500m per month. The Company plans to mobilise additional drill rigs to expedite the completion of phase 1 drilling.Drill holes will be spaced along sections to infill the historical drilling which was completed on 80m sections, thereby providing total coverage at 40m section spacing. Each drill hole will be spaced at 40m within each section. The mineralised horizons in the zones being targeted are relatively shallow and appear to have the most promising metal grades. Drill holes will be angled at approximately -80° to intersect the lodes perpendicular. Drill hole depths will range from 50 – 190m, with an average depth of approximately 110m

Figure 2. Plan view of Mineral Resource and Blue Sky zones highlighting proposed drillhole collar locations (red dots).

Figure 3. Northdrill Oy drill rig manufactured to operate year round in Finland.

For further information, please contact:

Roberto García Martínez, CEO 

E-mail:



roberto@eurobatteryminerals.com

Website:



https://investors.eurobatteryminerals.com//en/

About Eurobattery Minerals

Eurobattery Minerals is a mining and prospecting company focused on battery minerals such as nickel, cobalt, copper and rare earth elements. Business activities and operations are conducted exclusively in Europe with a focus on Finland, Spain and Sweden. The Company has one mining licence and eight exploration licences. The headquarters are located in Stockholm.

Augment Partners AB, e-mail: info@augment.se, phone: +46 8 505 651 72, is the company’s Mentor.

Today the independent securities broker Mangold Fondkommission issued an updated analysis on Eurobattery Minerals (NGM; “BAT”). In the analysis the company set the mid-term stock price target at SEK 100. 

In the analysis Mangold writes among other things: 
“Through the acquisition of the Hautalampi mining project, Eurobattery Minerals is taking a step towards becoming the leading supplier of green minerals to Europe’s battery industry”.

To read the full analysis, please go to https://insight.mangold.se/.

For further information, please contact:

Roberto García Martínez, CEO 

E-mail: roberto@eurobatteryminerals.com

Website: https://investors.eurobatteryminerals.com//en/

About Eurobattery Minerals

Eurobattery Minerals is a mining and prospecting company focused on battery minerals such as nickel, cobalt, copper and rare earth elements. Business activities and operations are conducted exclusively in Europe with a focus on Finland, Spain and Sweden. The Company has one mining licence and eight exploration licences. The headquarters are located in Stockholm.

Augment Partners AB, e-mail: info@augment.se, phone: +46 8 505 651 72, is the company’s Mentor.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SWITZERLAND, SINGAPORE, SOUTH AFRICA, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL, BE SUBJECT TO LEGAL RESTRICTIONS OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES.

The Board of Directors of Eurobattery Minerals AB (publ) (“Eurobattery” or the “Company”) proposed a rights issue of units of approximately SEK 47.3 million on 11 May 2020, which the Extraordinary General Meeting resolved on 27 May 2020 (the “Rights issue”). Due to the Rights issue, the Board of Directors of the Company has prepared a prospectus which has been published today on 25 June 2020. In addition, the Company will hold digital investor meetings in connection with the Rights issue.

In connection with the Rights issue, the Board of Directors of Eurobattery has prepared a prospectus which today has been approved and registered by the Swedish Financial Supervisory Authority and subsequently published by the Company. The prospectus is available for download on the Company’s website (www.eurobatteryminerals.com), Augment Partners AB’s offer site (offers.augment.se) and Aqurat Fondkommission AB’s website (www.aqurat.se). The prospectus will also be available on the Swedish Financial Supervisory Authority’s website (www.fi.se).

Subscription forms will be available on the websites above before the subscription period starts on 29 June 2020.

Timetable for the Rights issue

Investor meetings

In connection with the Rights issue, Eurobattery will hold the following digital investor meetings (note that the meetings will be held in English):

• Video conference with the Company’s CEO on 30 June 2020 at 17:30 CEST.
• Video conference with the Company’s CEO on 07 July 2020 at 17:30 CEST.

Registration for the investor meetings above is sent to info@augment.se.

Advisers

Augment Partners AB is acting as financial advisor and Bird & Bird Advokat KB is acting as the legal adviser to the Company in connection with the Rights issue.

For further information, please contact:

Roberto García Martínez, CEO

Email: roberto@eurobatteryminerals.com

Eurobattery Minerals in brief

Eurobattery Minerals is a mining and prospecting company focused on battery minerals such as nickel, cobalt, copper and rare earth elements. Business activities and operations are conducted exclusively in Europe with a focus on Finland, Spain and northern Sweden. The company has one mining license and eight exploration licenses. The headquarters is located in Stockholm. 

Augment Partners AB, tel. +46 8 505 651 72, email: info@augment.se is Eurobattery Minerals’ Mentor.

Important information

Publication or distribution of this press release may in some jurisdictions be subject to statutory and legal restrictions and persons in those jurisdictions where this press release has been published or distributed should inform themselves about and observe such restrictions. The information in this press release does not constitute an offer to acquire, subscribe or otherwise trade in shares or other securities in Eurobattery Minerals.

This press release does not constitute an offer to acquire securities in the United States. The securities mentioned herein may not be sold in the United States without registration in accordance with The Securities Act of 1933 or without the application of an exception to such registration. The information in this press release may not be released, published, reproduced or distributed in or to the United States, Australia, Canada, New Zealand, Hong Kong, Japan, Switzerland, Singapore, South Africa, or any other country or jurisdiction where such action is not permitted or such action is subject to legal restrictions or would require further registration or other measures than required by Swedish law. Measures contrary to this instruction may constitute a breach of applicable securities laws

Eurobattery Minerals AB (Nordic Growth Market: “BAT”; “the Company”) a growth company in the mining and exploration industry with the vision to help Europe become self-sufficient in ethical battery minerals, today announces the final results for sulphide mineral tests at the nickel, cobalt, copper Castriz prospect in Galicia, northwest Spain. In the larger Corcel project, Castriz is one of three primary prospects together with Monte Mayor and Monte Castello.

Key points:

• Final assay results received from nickel sulphide (Ni•S) assays on mineralised samples from recent drilling at the Castriz prospect in northwest Spain confirm significant nickel sulphide discovery at Castriz.
• Analytical methods that detect nickel sourced from sulphide minerals has shown that 75% to 85% of the total nickel from the main mineralised intervals previously reported is from sulphide minerals.
• Assay highlights include:
  • 21m @ 0.26% Ni•S from 78m and 12m @ 0.41% Ni•S from 129m, including 3m @ 0.64% Ni•S from 132m (19DD0001)
  • 24.5m @ 0.26% Ni•S from 14.5m, including 12.5m @ 0.31% Ni•S from 14.5m (19DD0002)
  • 24.35m @ 0.31% Ni•S from 182.5m, including 9.0m @ 0.40% Ni•S from 191.5m (19DD0003)
• Nickel grades considered to be of economic grade with 0.15% Ni a common cut-off grade for open pit resources.
• Prospective area confirmed for over 700m in strike length and approximately 700m in width with mineralisation commencing at surface to vertical depth of 200m. This makes Castriz potentially amenable to low-cost, open pit bulk mining.
• Samples submitted for more detailed mineralogy studies and QEMSCAN analysis to determine sulphide species and mineral liberation characteristics.

A total of 129 samples from four different drill holes from the 2019 Castriz drilling were analysed by ALS Global[1] in Perth, Australia, using methods for analysing the proportion of nickel in a rock sourced from sulphide minerals. Nickel sulphide, also known as Class 1 nickel, is the preferred mineral for producing the intermediate products required for electric battery applications. The latest results from across previously reported intervals confirms most of the nickel is sourced from economic sulphide minerals.

– The final assay results confirm Castriz to be a significant nickel sulphide discovery. With these results, we have taken a large step forward in our ambition to become a producer of battery minerals and thus a significant contributor to the foundation of the battery value chain in Europe. We will now look into different development scenarios at Castriz, including mineral processing and mining studies, said Roberto García Martínez, CEO of Eurobattery Minerals.

Summary of final nickel-in-sulphide assay results

The analytical method utilised, referred to by ALS Global as ME-ICP09, is specifically applicable for assessing the proportion of nickel sulphide. In conjunction with total nickel analysis (ME-ICP61), which gives total nickel contents of the rock, it is possible to assess the proportion of economic sulphide nickel versus non-economic nickel contained in silicate minerals.

The final assay results confirm that most of the nickel in the samples submitted is attributable to nickel sourced from economic sulphide minerals (Table 1). Nickel in the main mineralised intervals is sourced 75-85% from sulphide minerals. The Company is extremely encouraged about the potential size of the mineral system discovered, which measures at least 700m in strike and 700m in width based on limited drilling completed so far. Importantly, mineralisation commences from surface to a depth of over 200m, making the ore body potentially amenable to low cost, open pit mining.

Table 1. Nickel-in-sulphide assays from drilling at Castriz prospect.

Next steps

Samples are currently being analysed at SGS’s Canadian facilities for more detailed mineralogy studies and QEMSCAN analysis to determine sulphide species and mineral liberation characteristics. The results of these studies will be used in assessing the economics of potential development scenarios at Castriz.

For further information, please contact:

Roberto García Martínez, CEO 

E-mail: roberto@eurobatteryminerals.com

Website: https://investors.eurobatteryminerals.com//en/

This information is the sort of information that the company is obliged to disclose under the EU market abuse regulation. The information was submitted by the above contact person for publication on 22 June 2020 at 08:00 CEST.

About Eurobattery Minerals

Eurobattery Minerals is a mining and prospecting company focused on battery minerals such as nickel, cobalt, copper and rare earth elements. Business activities and operations are conducted exclusively in Europe with a focus on Finland, Spain and Sweden. The Company has one mining licence and eight exploration licences. The headquarters are located in Stockholm.

Augment Partners AB, e-mail: info@augment.se, phone: +46 8 505 651 72, is the company’s Mentor.

[1] ALS Global is the leading full-service provider of analytical geochemistry services to the global mining industry.

Eurobattery Minerals AB (NGM; “BAT”), a growth company in the mineral exploration industry with a corporate vision to help Europe become self-sufficient in ethical battery minerals, is pleased to welcome Henrik Johannesson as board member and chairman of the board. He was elected at the company’s Annual General Meeting on the 17th of June 2020 and thus replaces Monia Benbouzid.

– We welcome Henrik to our team. The combination of his strategic knowledge and international experience will bring important value to the company in our continued expansion as the foundation for the European battery industry. As the chairman of the board he will play an important role over the coming years for the company’s continued development. We also thank Monia for her work and wish her all the best in her future venture, said Roberto García Martínez, CEO at Eurobattery Minerals.

Henrik has a broad experience from previous board assignments. His experience spans from many different industries and markets.  Having started his career as a lawyer at Vinge he has held several management positions at Oriflame Cosmetics and Oriflame Global Management,  including Managing Director and Vice President for the company. 

For the past 17th years he has lived and worked across most continents, including Mexico, Vietnam, Croatia, Iran, Turkey and Poland. In his roles he has held full P&L responsibility with focus on growth and new market entries. Further to this, he has also been responsible for several ventures in Africa and Latin America. Henrik is now based in Stockholm. 

Henrik holds an LLM Master of Laws from Lund University and has studied business at Stockholm School of Economics as well as completed an Executive Education at Harvard Business School.

– I am thrilled to join Eurobattery Minerals. In my capacity as chairman of the board I am looking forward to working in close collaboration with Roberto and support the execution of our vision to provide ethical and fully traceable battery minerals to the growing market for electric vehicles, said Henrik Johannesson. 

In addition to Henrik, Roberto García Martínez and Jan-Olof Arnbom who was re-elected as board members at the meeting.

For further information, please contact: 

Roberto García Martínez, CEO 

Email: roberto@eurobatteryminerals.com

Eurobattery Minerals in brief 

Eurobattery Minerals is a mining and prospecting company focused on battery minerals such as nickel, cobalt, copper and rare earth elements. Business activities and operations are conducted exclusively in Europe with a focus on Spain, Finland and northern Sweden. The company has two mining licenses and eight exploration licenses. The headquarters is located in Stockholm. 

Augment Partners AB, tel. +46 8 505 651 72, email: info@augment.se is Eurobattery Minerals’ Mentor

Owners representing 44 percent of the share capital in Eurobattery Minerals AB (NGM; “BAT”), a growth company in the mineral exploration industry with a corporate vision to help Europe become self-sufficient in ethical battery minerals, propose the re-election of Roberto García Martínez and Jan-Olof Arnbom to the board of directors of the company. Further to this, Henrik Johannesson has been proposed as new board member and chairman of the board replacing current chairman Monia Benbouzid who is not available for re-election.

Roberto García Martínez is the CEO of Eurobattery Minerals and has acted as a board member of the company since 2019. He has more than 25 years’ experience in the mining industry at the international level. During his career, he has worked on both the theoretical and practical sides of the exploration and mining industry. He has been President and CEO of major mining groups in Africa (2006–2018). Roberto has worked with company strategies, marketing, mining M&M and exploration management. Roberto is a Doctor of Law and has a bachelor’s degree in economics and industrial psychology.

Jan-Olof Arnbom is a board member of Eurobattery Minerals since 2018. Among other things, Jan Olof was head of unit for the Geological Survey of Sweden during 2007–2017. Jan Olof has also worked as a geo consultant with various assignments for several consulting firms including Bjerkings ingenjörsbyrå, SGAB and IVL Svenska Miljöinstitutet. He has a Master’s licentiate in geology from Uppsala University.

Henrik Johannesson is nominated as new board member and chairman of the board at Eurobattery Minerals. Henrik holds more than 20 years of international executive leadership experience, including a number of key positions as member of the senior management group of Oriflame Cosmetics. Henrik has led executives and organizations >600FTE (sales, marketing, finance, IT, operations, HR) with full P&L responsibility across most continents with focus on growth and new market entries. At current Henrik is an active investor with engagement in businesses varying from anti-doping (sports), tech & digital platforms, telecom, gyms and health supplements. Prior to venturing into general management Henrik was a lawyer at Vinge law firm with focus on M&A. Henrik holds an LLM Master of Laws from Lund University, has studied business at Stockholm School of Economics and has completed Executive Education at Harvard Business School. 

The election of board members will take place on the Annual General Meeting of Eurobattery Minerals on the 17th of June at 10.00 a.m. 2020 at the law firm Bird & Bird, Norrlandsgatan 15 in Stockholm. 

For further information, please contact:

Roberto García Martínez, CEO

Email: roberto@eurobatteryminerals.com

This information is of the kind that the Company is required to disclose in accordance with the EU’s Market Abuse Regulation. The information was issued for publication through the agency of the contact person set out above on 16th of June 2020 at 10:00 CEST.

Eurobattery Minerals in brief

Eurobattery Minerals is a mining and prospecting company focused on battery minerals such as nickel, cobalt, copper and rare earth elements. Business activities and operations are conducted exclusively in Europe with a focus on Spain, Finland and northern Sweden. The company has two mining licenses and eight exploration licenses. The headquarters is located in Stockholm. 

Augment Partners AB, tel. +46 8 505 651 72, email: info@augment.se is Eurobattery Minerals’ Mentor

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