Avrupa Minerals Ltd. provided a corporate update and progress report covering the Company's programs in Portugal, Finland, and Kosovo. The Company continues to make strong, positive progress in all three jurisdictions. Drilling at the Alvalade Joint Venture with partner Sandfire MATSA continues after a 6- month hiatus during 2022.

For now, drilling is dedicated to high-priority exploration targets around the Alvalade license. The upcoming addition of a second drill rig will speed up the pace of drilling, and expect to target potential extensions to the Sesmarias massive sulfide deposit, as well as promising satellite targets there. In total, plan to drill another 8-9 holes around the license during the first half of 2023, totaling roughly 4,000 meters.

have completed three exploration holes, totaling 1,946 meters, since the beginning of this phase of drilling, aiming at VTEM geophysical targets along the trend of mineral- hosting, Volcano-Sedimentary rocks in the Pyrite Belt between the historic Lousal and Caveira Mines. The recent drilling includes two holes in the Lousal NW sector and one in the Azinheira sector. All three drill holes intercepted the targeted VS horizon, with narrow zones of thin-bedded to semi-massive sulfide mineralization present.

Sampling results are forthcoming, and are expected to indicate possible proximity to massive sulfide mineralization in the strongly folded and faulted black shale host rocks. In Kosovo, new partner Western Tethyan Resources ("WTR") continues their extensive, detailed due diligence work at/around the Slivova gold deposit. The work includes review of all technical facets of the deposit and project, including re-evaluation of the NI 43-101 resource, license-wide exploration potential, mining and processing possibilities, minesite infrastructure and layout, and social and environmental ramifications.

expect a near-future decision on how to proceed, as stated in the "Heads of Agreement" reported by the partners on September 7, 2022. In Finland, have three exploration license applications in process, and a fourth application just submitted. The first two applications, Kolima and Kangasjärvi, covering copper- and zinc-bearing massive sulfide mineralization and targets in the Pyhäsalmi base metal district, are in advanced application status, with public, town hall-style meetings and stakeholder comment periods completed.

The decision process is now fully in the hands of the Finnish mining bureau, and look forward to a decision in the latter part of First Quarter 2023.have developed first-pass drill targets within both application areas. After a successful 2022 work program in Portugal and Finland, and the enlistment of a mining partner for the Slivova gold deposit in Kosovo, look forward to a successful coming year, and especially to value accretion within Avrupa's three main jurisdictions. Some of the important successes in 2022 were: Establishment of a new copper-zinc exploration program in the Pyhäsalmi Mining District, central Finland, with initial phase of acquisition of Finnish exploration company Akkerman Finland Oy, Initiation of a new joint venture in Kosovo with exploration-oriented Western Tethyan Resources and associated company, miner Ariana Resources, to bring the Slivova gold deposit to a mining solution; and Continuation of advanced exploration in Portugal through the Alvalade Joint Venture with Sandfire MATSA, particularly within the Sesmarias massive sulfide deposit.