For immediate release

10 August 2023

European Metals Holdings Limited

("European Metals" or the "Company")

Option Issue

European Metals Holdings Limited (ASX & AIM: EMH, OTCQX: EMHXY, ERPNF and EMHLF), announces that, it has issued 2,000,000 unquoted options to acquire fully paid ordinary shares, exercisable at AU$0.80 on or before 31 December 2025, to a Company consultant issued under the Company's employee incentive scheme.

The options do not have any voting rights or rights to receive dividends attached. The options are subject to commercial vesting conditions to be satisfied by 31 December 2023. The options are otherwise on standard terms and conditions.

Following the exercise of options, and the conversion into ordinary shares, those ordinary shares will rank equally with existing fully paid ordinary shares (including the right to vote and receive dividends).

CONTACT

For further information on this update or the Company generally, please visit our website at www.europeanmet.com or see full contact details at the end of this release.

ENQUIRIES:

The information contained within this announcement is considered to be inside information, for the purposes of Article 7 of EU Regulation 596/2014, prior to its release.  The person who authorised for the release of this announcement on behalf of the Company was Keith Coughlan, Executive Chairman.