Environmental permit application submitted for Finnish battery mineral mine

EQS-Media / 29.04.2024 / 09:35 CET/CEST

Stockholm, 29 April 2024 - The mining company Eurobattery Minerals AB
(Nordic Growth Market: " BAT" and Börse Stuttgart: " EBM"; in short: "EBM",
"Eurobattery" or "the Company") today announces that the environmental
permit application for the battery mineral mine project Hautalampi in
Finland has been submitted to the Finnish Regional State Administrative
Agency (Aluehallintovirasto, or AVI).

"Submitting the application for the environmental permit is a critical
milestone for Eurobattery Minerals and we have now taken a major step
towards mining operations in Finland," said Roberto García Martínez, CEO of
Eurobattery Minerals.

Roberto García Martínez continued:

"As a result of previous analyses, we know that there is a great economic
outlook for the cobalt, nickel, and copper mine. In addition to the
financial aspects, the Finnish mine is also a great opportunity to increase
Europe's self-sufficiency when it comes to responsible mined battery
minerals."

The application covers all aspects needed to start and operate the mine

The environmental permit application includes all essential aspects of an
operational mine at the Hautalampi project, for example, underground mining
operations for ore and waste rock, crushing operations for ore and waste
rock usage for construction. Furthermore, it also covers an application for
producing metal concentrates, discharge treatment, handling mining waste,
implementing mine backfilling, and depositing extractive waste in extractive
waste areas. In addition, the environmental permit application also covers
aspects regulated by the Finnish Environmental Protection Act
(Ympäristönsuojelulaki 527/2014).

"We look forward to working closely with the authorities in Finland to
ensure a smooth and quick environmental permit process and expect a positive
outcome. In parallel with this process, we are continuing the discussions
and development of off-take agreements that are related to the work with the
bankable feasibility study," said Roberto García Martínez.

As the company waits for the outcome of the environmental permit
application, Eurobattery Minerals will continue with the work according to
the company´s plans. These include the finalisation of the 100 per cent
acquisition of FinnCobalt Oy and continuing with the detailed engineering of
the next phases. The Company will also continue the discussions and
development of off-take and equipment agreements which is part of the
preparatory work for the bankable feasibility study.

About the Hautalampi Battery Mineral Project

The Hautalampi project is located 345 km from Helsinki, in the well-known
Outokumpu Mining Camp Area. The Hautalampi project is located in the same
region as the well-renowned Keretti mine where approximately 28.5 million
tonnes of copper ore were mined between 1912-1989. The project consists of
one mining concession covering 277 hectares with exposure towards cobalt,
nickel, and copper.

The Outokumpu municipality has evolved from a mining town into an industrial
centre. Therefore, this is an excellent location for mining operations, with
strong local support for mining.

The Hautalampi project is ideally positioned for the burgeoning EV battery
manufacturing market in northern Europe, and there are strong technical
fundaments for the processing and production of commercial Co-Ni concentrate
and Cu concentrate.

The target operational figures, as they appear in the pre-feasibility study
from March 2023, indicate that Eurobattery Minerals will produce around
500,000 tonnes of ore per annum, with an expected mine life of +12 years.
The total capital expenditure is estimated at EUR 65 million, and the
payback period is 4.6 years. The mining project is expected to have a
concentrate production of Cu-conc. 25% of 5,000 tonnes per annum and
Ni/Co-conc. Ni 7%/Co 1.9% of 21,000 tonnes per annum.

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

29.04.2024 CET/CEST Dissemination of a Press Release, transmitted by EQS
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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:    1891145

End of News EQS Media
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1891145 29.04.2024 CET/CEST