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15 May, 2023

Eurobattery Minerals Hautalampi project achieves highest UN classifications for viable mining project

Stockholm, 15 May 2023 – The mining company Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”; in short: “EBM”, “Eurobattery” or “the Company”), is pleased to announce that the FinnCobalt Oy’s Hautalampi ore reserves and minerals resources reserves have been classified in the highest categories as viable mining projects in the United Nations Framework Classification for Resources (UNFC). Eurobattery Minerals owns 40 % of FinnCobalt Oy and Hautalampi project and has decided to acquire additional 30 %.

“Achieving the highest UN classification is a very significant proof of the potential of our Hautalampi project to supply the European market with responsibly mined battery minerals”, said Roberto García Martínez, CEO of Eurobattery Minerals.

UNFC is an international scheme for the classification, management and reporting of energy, mineral, and raw material resources. The UNFC classification complies with the European Commission’s Raw Materials Proposal: The Critical Raw Materials Act published by the European Commission on 16th of March 2023. The proposal suggests that each EU country should classify its minerals reserves according to the United Nations Framework Classification for Resources. The Hautalampi UNFC actual classification was originally done by Geological Survey of Finland (GTK).

The information in the report “Hautalampi Ore Reserves and Mineral Resources classification according to UNFC-2019 and bridging to the JORC 2012-Code” refers to ore reserves and mineral resources statement prepared by AFRY Finland Oy (7th of March 2023) transferred to the UNFC-classification.

The report is prepared by Dr. Hannu Makkonen (EurGeol), Suomen Malmitutkimus Oy who has also been team member preparing the guidance documentation (180212_A_guidance_for_the_application_of_the_UNFC) for UNFC. Dr. Makkonen owns no shares in FinnCobalt Oy or Eurobattery Minerals AB.

The complete Hautalampi UNFC report is available in Eurobattery Minerals website: https://eurobatteryminerals.com/en/projects/hautalampi/.

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