EUROPA METALS LIMITED - Operational Update Commencement of Drill Campaign at Toral

Operational Update Commencement of Drill Campaign at Toral

Europa Metals Ltd
(Incorporated and registered in Australia and registered as
an external company in the Republic of South Africa)
(Registration number 4459850)
(External company registration number 2011/116305/10)
Share code on the ASX: EUZ
Share code on AIM: EUZ
Share code on the JSE: EUZ
ISIN: AU0000014342
("Europa Metals" or “the Company”)


                                      Europa Metals Ltd
                 (“Europa Metals”, the “Company” or the “Group”) (AIM, AltX: EUZ)

                                       Operational Update
                         Commencement of drill campaign at Toral

Europa Metals, the European focused lead, zinc and silver developer, is pleased to announce that
the approximate 7,000m drilling campaign on the Company’s wholly-owned Toral Zn-Pb-Ag Project
(the “Toral Project” or “Toral”), in the León Province, north-west Spain, with its partner, Denarius
Metals Corp. (TSXV: DSLV; OTCQB: DNSRF) (“Denarius Metals”) has commenced.

The first rig arrived on site and commenced drilling during March with the second rig expected to
arrive on site this week which will then commence drilling after Easter. The drill campaign is being
conducted by the contractor, Explomin Perforaciones UE S.L. (“Explomin”).

Drilling campaign
As part of the initial twelve month work programme agreed with Denarius Metals the current drilling
campaign of 11 planned holes for a total of up to 7,000m, will principally involve a combination of
confirmatory and infill drilling within the project’s known indicated resource area outlined to date. The
results will then be applied to commission an updated independent mineral resource estimate later
in the year.

Other works
The Toral Project team has also been busy with on-site works with a core racking system being
installed at Europa Metals’ offices to handle the anticipated increase in core from the new drilling as
well as storing our historic core more effectively.

Work on our planned mining licence application is progressing well alongside desk top studies
evaluating other potential surrounding exploration permit areas which are expected to be completed
over the next 3 to 6 months.

The Company notes that the initial work programme forms the major part of the €1.8m (approximately
US$1.95m) twelve month JV budget agreed recently with Denarius Metals, rather than the US$1.8m
figure misquoted in the Company’s announcement of 22 March 2023.


Commenting today, Myles Campion, Executive Chairman and acting CEO of Europa Metals
said:
“I am very pleased that our latest drill campaign has commenced so quickly post finalisation of the
JV budget; it represents a great first step in our partnership with Denarius Metals. Two rigs onsite
will allow us both efficiency and flexibility in our programme of resource infill targeted drilling, the
results of which will then flow into an updated resource estimate.
I look forward to providing further updates as the drill results are generated in due course.”


For further information on the Company, please visit www.europametals.com or contact:

Europa Metals Ltd
Dan Smith, Non-Executive Director and Company Secretary (Australia)
T: +61 417 978 955
Myles Campion, Executive Chairman and acting CEO (UK)
T: +44 (0)20 3289 9923

Strand Hanson Limited (Nominated Adviser)
Rory Murphy/Matthew Chandler/Abigail Wennington
T: +44 (0)20 7409 3494

WH Ireland Limited (Broker)
Harry Ansell/Dan Bristowe/Katy Mitchell/Sarah Mather
T: +44 (0)20 7220 1666

Questco Corporate Advisory Proprietary Limited (JSE Sponsor)
Sharon Owens
T: +27 (11) 011 9212

5 April 2023

The information contained within this announcement is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United
Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the
Market Abuse (Amendment) (EU Exit) Regulations 2019.

Date: 05-04-2023 11:00:00
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