Europa Metals 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. 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: 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 historic core more effectively. Work on 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 €1.8 million (approximately $1.95 million) twelve month JV budget agreed recently with Denarius Metals, rather than the $1.8 million figure misquoted in the Company's announcement of 22 March 2023.