Eurobattery Minerals publishes Annual Report 2023

EQS-Media / 16.05.2024 / 18:20 CET/CEST

Stockholm, 16 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 2023 annual report.

The auditor's report, which is attached to the annual report for 2023,
deviates from what is common as a remark is stated by the auditor relating
to a significant uncertainty regarding the going concern, as presented
below.

Significant uncertainty regarding the going concern assumption

Without prejudice to my opinion above, I would like to draw attention to the
statement in the Directors' Report that the company is dependent on further
capital injections in 2024 to ensure its continued operation. The board is
negotiating with external stakeholders for a long-term solution to
strengthen the company's liquidity and equity. It is the board's assessment
that there are good opportunities for continued financing. The above
indicates that there is a material uncertainty, which may cast significant
doubt on the company's ability to continue as a going concern.

Eurobattery Minerals comment to the Auditor´s Report

The comment from the auditor is based on the fact that Eurobattery Minerals
is a growth company and is financed through external capital. During 2024,
the operations are being financed by using the warrant series TO4 and TO5.
In April 2024, the Company announced that the Environmental Permit
Application for the Finnish battery mineral project Hautalampi has been
submitted to the authorities, which is an important milestone and a big step
towards being able to start our mining operations in Finland. In light of
the above and negotiations with potential off-takers and external partners -
and taking into account the positive results from the project in Finland -
the Board of Directors believes that the prospects are very good to continue
to develop the business.

"In geopolitical terms, 2023 was a complicated year, but at Eurobattery
Minerals we have continued to work hard, especially with the Environmental
Permit Application for the Hautalampi battery mineral project. When I´m
writing this we are closer to the start of mining operations and therefore I
would like to thank all the shareholders for their continued support!", says
Roberto García Martínez, CEO of Eurobattery Minerals.

Strategic and operational highlights 2023

  * Finnish Hautalampi battery mineral mine: In March, Eurobattery Minerals
    announced that FinnCobalt Oy had completed the pre-feasibility study for
    its Finnish Hautalampi mining project, with a positive outcome. In May,
    Eurobattery Minerals announced that the Hautalampi ore reserves and
    minerals resources reserves have been classified in the highest
    categories as viable mining projects under the United Nations Framework
    Classification for Resources (UNFC). In June, it was announced that
    Tukes (the Finnish Safety and Chemicals Agency) has entered the
    Hautalampi mining right (K7802) in the mining register pursuant to the
    Mining Act (503/1965).

  * Spanish Corcel mine project: The Company submitted all necessary
    information for environmental and operating permits for Corcel in August
    2022. The Company continues to await a positive decision from the Energy
    and Mining Authority of Galicia.

Detailed financial information

The 2023 Annual Report 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).

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


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File: https://eqs-cockpit.com/c/fncls.ssp?u=bf7e155b18388b90e36bf8d805e4fb80
File description: EBM_AnnualReport_2023_English

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

16.05.2024 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:    1905295

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1905295 16.05.2024 CET/CEST