Eurobattery Minerals, highly satisfactory results from drillings at the Spanish Corcel Project: estimated 60 million tonnes with 0.25% nickel

Eurobattery Minerals AB, a growth company in the mining and exploration industry with the vision to help Europe become self-sufficient in ethical battery minerals, has announced that the first assay results have been received from the drill holes carried out as part of the 2021 diamond drilling campaign on its Spanish Project (Corcel Project), initiated in June 2021 and completed on time and on budget. The company believes the results are highly satisfactory for the continued projection of the Corcel resource.

* The first assay results have been received from the first two drill
holes (COR005 and COR006) of the seven drill holes carried out in 2021
in the Corcel Project.
* Elevated levels of nickel (Ni), copper (Cu) and cobalt (Co)
intersected in drill holes COR005 & COR006. Assay highlights from the
first two drill holes include:

17.6 m @ 0.27% Ni, 0.03% Cu and 0.01% Co (COR005)

23.2 m @ 0.24% Ni, 0.03% Cu and 0.01% Co (COR006)

* The first assay results of this campaign verify the interesting
potential of the “West Anomaly”, where drill hole COR003 (19DD001)
confirmed at depth the good results obtained in the geochemical
campaign, with an average of 69 m @ 0.30% Ni, 0.04% Cu and 0.01% Co.

* Assay results pending from the remaining drill holes. Results
anticipated in the first months of 2022 to obtain the accredited
resource certification (Ni 43-101) in the first quarter of 2022.

* Based on the results obtained in the 2019 campaign and the first
results received this year, and taking into account the size of the
anomalous zone, there is potentially a deposit of considerable size
(around 60 million tonnes with 0.25% Ni).

The results from this and the previous drilling campaign indicate the
excellent potential of establishing a solid nickel project in the south
of Europe,” commented Roberto García Martínez, CEO of Eurobattery

The 2021 drilling campaign was designed to define – from surface to a
depth of approximately 150 metres – the existing resources of Ni, Cu
and Co in an area that is approximately 150 metres in length along the
western anomaly defined in the 2019 campaign, which has a North-South
length of approximately 1,200 meters and an East-West width of
approximately 375 meters.

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