Eurobattery Minerals publishes Q1 report for 2024 with the subscription
period for warrant series TO4 ongoing

EQS-Media / 14.05.2024 / 07:35 CET/CEST

Stockholm, 14 May 2024 - The mining company Eurobattery Minerals AB (Nordic
Growth Market: " BAT" and Börse Stuttgart: " EBM"; in short: "Eurobattery
Minerals" or the "Company") today published its report for the first quarter
2024.

"During Q1 Eurobattery Minerals have been working, among other things, on
the Environmental Permit Application for the Hautalampi battery mineral mine
project in Finland. The application was submitted to the Finnish authorities
at the end of April and by this we took a major step towards starting the
mining operations at the Hautalampi project ", comments Roberto García
Martínez, CEO of Eurobattery Minerals, regarding the first quarter 2024.

Strategic and operational highlights Q1 2024

  * In January, the Company announced the process design for the
    concentration plant at its battery mineral mine project Hautalampi. The
    designed capacity of the plant is 500,000 tonnes per annum and is
    expected to produce annually 21,000 tonnes of Ni 7%/Co 1.9% concentrate
    and 5,000 tonnes of Cu 25% concentrate during the anticipated 12 years
    of mining at the site.

  * Also, in January, Eurobattery Minerals published the preliminary and
    final outcomes for the rights issue. It showed that 28,288,738 units
    were subscribed for, corresponding to a subscription rate of
    approximately 77.3 per cent. The Company thereby received total issue
    proceeds of approximately SEK 22.6 million.

  * On 18 March 2024 Eurobattery Minerals announced positive results on
    research proving that the bedrock conditions in its Finnish Hautalampi
    battery minerals mine project are ideal for future mining operations.

Key financial figures for Q1 2024

* Net sales amounted to SEK 0 thousand (Q1 2023: SEK 0 thousand).

  * Operating profit/loss after financial items totalled SEK -4,551 thousand
    (Q1 2023: SEK -3,288 thousand).

  * Earnings per share after financial items before dilution amounted to SEK
    -0.11 (Q1 2023: SEK -0.20).

  * Earnings per share after financial items after dilution amounted to SEK
    -0.04 (Q1 2023: SEK -0.12).

  * Cash flow from operating activities was SEK -7,960 thousand (Q1 2023:
    SEK 1,388 thousand).

Significant events after the period

  * At the end of April, Eurobattery Minerals submitted the environmental
    permit application for the battery mineral mine project Hautalampi in
    Finland. Filing the application for the environmental permit means that
    the Company has now taken a major step towards mining operations in
    Finland.

  * At the beginning of May 2024, Eurobattery Minerals AB signed a Letter of
    Intent to invest a majority stake in Spanish company Tungsten San Juan
    SL ("TSJ"). TSJ is operating the development of the San Juan wolfram
    deposit. The Project has all the necessary licences and contracts in
    place to commence production, including a letter of intent for an
    off-take agreement with an Austrian world-leading tungsten producer
    within the Swedish Sandvik Group. The investment of EUR 2.5 million
    through a new share issue is intended to enable the start of production
    in 2025.

  * In May, the Company announced that it will apply for the battery mineral
    project Hautalampi to become a Strategic Project under the new EU
    Critical Raw Materials Act. This is an open call from the European
    Commission (DG GROW). The recognition of a project as a Strategic
    Project has several advantages, including streamlined and predictable
    permitting procedures and support in gaining access to finance.

Detailed financial information

The Q1 report for 2024 of Eurobattery Minerals AB is available for download
at the Company's website and can be viewed in the attachment of the release
(see below).

This information is information that Eurobattery Minerals is obliged to make
public pursuant to the EU Market Abuse Regulation. The information was
submitted for publication, through the agency of the contact persons set out
below, at 2024-05-14 07:30 AM CEST.

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

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


End of Media Release

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Additional features:

File: https://eqs-cockpit.com/c/fncls.ssp?u=4baa443620ebbf47f86be51b00e2b4e1
File description: EBM_Q1_2024_English

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Issuer: Eurobattery Minerals AB
Key word(s): Energy

14.05.2024 CET/CEST Dissemination of a Press Release, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements,
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Archive at www.eqs-news.com

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   Language:       English
   Company:        Eurobattery Minerals AB

                   114 56 Stockholm
                   Sweden
   Phone:          +49 151 6568 0361
   E-mail:         info@eurobatteryminerals.com
   Internet:       www.eurobatteryminerals.com
   ISIN:           SE0012481570
   WKN:            A2PG12
   Listed:         Regulated Market in Berlin, Frankfurt, Munich, Stuttgart
   EQS News ID:    1901955

End of News EQS Media
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1901955 14.05.2024 CET/CEST