European Lithium Receives Grant Of New Mining Licenses Doubling Wolfsberg Project Footprint

European Lithium Limited (ASX: EUR, FRA: PF8, OTC: EULIF) (European Lithium or the Company) is pleased to announce it has received a grant of new mining licenses and extensions for the Wolfsberg Lithium Project (Wolfsberg Project) in Austria, after a public hearing conducted by the Austrian Mining Authority.

HIGHLIGHTS

• EUR receives grant of 6 new mining licenses
• In addition, 3 existing mining licenses have had their area extended (1 for the existing Andreas field and 2 for the newly assigned Barbara field)
• Mining licenses now extend beyond the existing resource doubling the Wolfsberg Project footprint

The Wolfsberg Project Definitive Feasibility Study (DFS) (see EUR announcement dated 8 March 2023) mine planning and design incorporated the expanded resource and at the time of reporting the Company identified several mining fields extending outside existing license areas that could be mined in the future.

Subsequently, the Company applied for a new mining field, called Barbara, adjacent to the existing mining field called Andreas, which contains 11 mining licenses. The Barbara mining field provides the Company with 6 new licenses. In addition, 3 existing mining licenses have had their area extended (1 for the existing Andreas field and 2 for the newly assigned Barbara field).

The grant of new licenses and extensions grows the Company’s Wolfsberg Project to a total of 20 licenses, nearly doubling the footprint for the underground mining operations (see Image 1, Wolfsberg Project tenement map).

Dietrich Wanke, CEO, commented: “The grant of the new mining licenses, and license extensions, provides significant upside to mining operations in the future. We are encouraged by this successful grant as we move toward operational readiness of the Wolfsberg Project.”

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