EQS-News

Eurobattery Minerals: Almost 40% increase in the contained metals in the Finnish Hautalampi Ni-Co-Cu mine project - Seite 2

Next steps: With the resource update in hand, Eurobattery Minerals will now conduct further technical and economical evaluations of the project viability. This includes investigate different downstream processing and off-take options to receive maximum revenue especially from the Nickel-Cobalt concentrate

Details about the Hautalampi and Mökkivaara deposit measured and indicated mineral resource

• 9.3 million tonnes (Mt) at an average grade of Ni 0.28%, Cu 0.19% Cu and Co 0.07%
• Contained metal Ni 26,100 tonnes, Cu 17,700 tonnes and Co 6,200 tonnes in the measured and indicated category
• Additional inferred resources at Hautalampi area 0.2 Mt at an average grade of Ni 0.21%, Cu 0.12% and Co 0.02%.

The north-east extension of the mineralization, Mökkivaara deposit, with following inferred resource:

• 3.2 Mt at an average grade of Ni 0.22%, Cu 0.13% and Co 0.05%
• Contained metal: Ni 7,000 tonnes, Cu 4,100 tonnes and Co 1,600 tonnes

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

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 estimate. Mr. Seppä owns no shares in FinnCobalt Oy or Eurobattery Minerals AB.