Simplified Extraction Process Delivers Exceptionally Clean Battery-Grade Lithium Product With Improved Economics

European Metals Holdings Limited (ASX & AIM: EMH, OTCQX: EMHXY, ERPNF and EMHLF) (“European Metals” or the “Company”) is pleased to announce significant developments in the processing flowsheet for the Cinovec vertically integrated battery metals project (“Cinovec”) in Czech Republic.

• Simplified Lithium Chemical Plant (“LCP”) extraction process has delivered exceptionally clean battery-grade lithium carbonate
• Significant reduction in most impurities far exceeds current market accepted battery-grade specifications and steps required in the LCP process reduced from 15 to 7
• LCP has capability to deliver very high purity lithium hydroxide, lithium carbonate, lithium sulphate or lithium phosphate
• Simplified process is expected to reduce both Capex and Opex in the LCP by 10-20%.
• LCP recoveries of 88-93% lithium proven in locked-cycle testwork, an outright recovery improvement of 3-6% over locked-cycle testwork for earlier more complex flowsheet
• Patent application lodged to protect global intellectual property rights
• Test work proves re-engineered Front-End Comminution and Beneficiation (“FECAB”) circuit recovers >87% of lithium
• LCP pilot programme to commence in 4Q CY22 with marketing samples available to offtake partners in 1Q CY23; pregnant leach solution containing 48kg of lithium carbonate equivalent is ready to be processed
• New flowsheet provides ESG Benefits - lower reagent use and reduced cooling requirements

Keith Coughlan, Executive Chairman, said “The completion of flowsheet development work in both the FECAB and LCP is a significant milestone for the Cinovec Project. The simplification of the process, the improved economics, and the addition of two new significant potential end products are all very pleasing results. This simplification, in reducing the complexity and in reducing the steps required in the LCP process from 15 to 7, eliminates some potential process flowsheet risks. Testwork to confirm optimised FECAB and LCP flowsheets is now complete and production of significant quantities of battery grade lithium chemicals is expected to be available for distribution to long term European offtake partners early next year.

“The quality of the product is also excellent with almost battery grade material produced as our crude material. In addition, the reduction in both reagent use and energy consumption add to already excellent ESG credentials.

“Now that the simplified flow sheet has been released to the market, the Company looks forward to being able to provide more frequent updates regarding progress towards completion of the Definitive Feasibility Study (“DFS”) based on the new flowsheet as well as progress on the offtake discussions in which the Company has been engaged.”.

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