Europa Metals Ltd. announced the first assay results from its ongoing infill diamond drilling programme being conducted by Explomin Perforaciones UE S.L. at the Company's 100% owned Toral Pb, Zn & Ag project. This drilling programme forms part of the 2023 exploration campaign agreed by Europa Metals Ltd. and Denarius Metals Corp. pursuant to the definitive option agreement dated 22 November 2022, further details of which are set out in the Company's announcement of 23 November 2022.

Highlights: Significant intersection from drillhole TOD-043 of % ZnEq(PbAg), including: % ZnEq (PbAg); Hole TOD-043 has been successful in intersecting high grade mineralisation adjacent to an existing, previously reported, high grade intersection within the project's Indicated Resource block outlined to date. The current focus of the drilling campaign comprises approximately 11 holes for a total of up to 7,000m, including a combination of confirmatory and infill drilling within the project's known indicated resource area outlined to date, of 7Mt @ 8.1% Zn Equivalent (including Pb credits), 5% Zn, 3.7% Pb and 29g/t Ag. Once completed, the campaign's results will then be applied to commission an updated independent mineral resource estimate later in the year.

Drilling operations are ongoing, in line with the objective set out above, and further assay results will be announced once processed and received. Hole TOD-043 has been completed with assays having already been sent to the labs and TOD-045 and TOD-046 are currently being drilled with targeted depths of approximately 610m and 810m respectively. The exploration results and activity reported in this announcement have been compiled and reviewed by Mr. Luis J. Perez who is a Member of the Australian Institute of Geoscientists (AIG) and a European Geologist (EurGeol).