Eurobattery Minerals: Full report on Hautalampi available – almost 40% increase in the contained metals confirmed

Stockholm, 18 October 2022 – The mining company Eurobattery Minerals AB (Nordic Growth Market: BAT and Börse Stuttgart: EBM; in short: “EBM”, “Eurobattery” or “the Company”), today announces that it has received the complete JORC-compliant report entitled “Hautalampi Ni-, Cu-, Co-Deposit Mineral Resource Estimate, Outokumpu, Finland”. The company already announced the findings of the report on 29 September 2022.

The independent JORC-compliant report prepared by AFRY Finland Oy concludes that, compared to previous analysis in 2021, the available mineral resources in the mine project has almost doubled with around 40% more metals. Eurobattery Minerals owns 40% of the Hautalampi project and have the option to acquire 100% from its current majority owner FinnCobalt.

“I am delighted that the final report confirms that our Finnish mine project is a significant source for responsible mined battery minerals in Europe with almost 40% more metals than previous estimates. We are now conducting further technical and economical evaluations of the viability of our Finnish battery mineral project,” Roberto García Martínez, CEO of Eurobattery Minerals, comments the independent report.

The mineral resource is calculated using a database containing approximately 86,500 meters of diamond core drilling including 4,600 meters drilled during the 2021 campaign.

The report has been prepared by AFRY Finland Oy and can be downloaded at:

Competent Person's statement

The information in this release that relates to mineral resources is based on information compiled by Mr. Ville-Matti Seppä, a Competent Person who has an EurGeol qualification.

Mr. Seppä is a full-time employee of AFRY Finland Oy. He has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves”. Mr. Seppä has reviewed, verified, and approved the contents of this news release as they relate to the mineral resource report. Mr. Seppä owns no shares in FinnCobalt Oy or Eurobattery Minerals AB.

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.