Eurobattery Minerals starts new research collaboration on large-scale extraction of REE in Sweden

Stockholm, 19 December 2022 – The mining company Eurobattery Minerals AB (Nordic Growth Market: "BAT" and Börse Stuttgart: "EBM"; in short: "EBM", "Eurobattery" or "the Company") today announced a new research collaboration with the University of Uppsala on mining for rare earth elements (REE) in its Swedish Fetsjön project. The partnership aims to investigate the opportunity for large-scale extraction of REE using existing methods. REE are critical components for electric vehicles and other electric equipment and raw materials classified as "critical" by the European Union. 

"We are excited to start this new phase in our battery mineral project in Fetsjön with a renewed collaboration with the University of Uppsala. Removing Europe's dependency on REE is a top priority for European industries and politicians. In this context, Eurobattery Minerals aims to meet this need with responsibly mined battery minerals," said Roberto García Martínez, CEO of Eurobattery Minerals.

Together with the University of Uppsala in Sweden, Eurobattery Minerals will engage and co-sponsor a new research initiative focusing on the large-scale extraction of REE from the mineral monazite. As opposed to other minerals where REE occurs, monazite doesn't include uranium, thus enabling REE to be extracted without the risk of unwanted side effects. 

According to samples from previous extensive drilling campaigns carried out from 2006 to 2007 in 52 drill holes, the monazite in Fetsjön has proven to consist of REE with as high occurrences as 30%. In addition to Fetsjön, Eurobattery Minerals also holds an exploration permit for the much larger Rönnberget. Located close to Fetsjön, Rönnberget has a similar geology. Test drilling and analysis conducted in 2016 indicate that monazite is available in several locations in Rönnberget. 

The research project commences immediately and will be headed by Jaroslaw Majka, Professor at the Department of Earth Sciences at the University of Uppsala.

About Eurobattery Minerals

Eurobattery Minerals AB is a Swedish mining company listed on Swedish Nordic Growth Market (BAT) and German Börse Stuttgart (EBM). With the vision to make Europe self-sufficient in responsibly mined battery minerals, the company’s focus is to realize numerous nickel-cobalt-copper projects in Europe to supply critical raw materials and, as such, power a cleaner world.

Please visit www.eurobatteryminerals.com for more information. Feel free to follow us on LinkedIn and Twitter as well.

Contact Eurobattery Minerals AB

Roberto García Martínez – CEO

E-mail: info@eurobatteryminerals.com

Contact Investor Relations

Sara Pinto

Phone: +49 (0) 89-1250903-35

E-mail: ir@eurobatteryminerals.com

Mentor

Augment Partners AB is the mentor to Eurobattery Minerals AB

Phone: +46 (0) 86 042 255

E-mail: info@augment.se.