European Energy Metals Corp. (TSXV:FIN) entered into a definitive agreement to acquire BB Gold Incorporation from a private individual for CAD 0.6 million on August 22, 2023. Under the terms of the Proposed Transaction, the Company will acquire all of the shares of BB Gold Inc., a company existing under the laws of Newfoundland and Labrador and its wholly owned Finnish subsidiary, Sisu Exploration Oy, the direct owner of the reservations, from a private individual (the "Vendor") in exchange for the issuance of 1,250,000 common shares (the "Consideration Shares").

In addition to any statutory resale restrictions, the Consideration Shares will be subject to the following contractual resale restrictions: Number of Consideration Shares with Contractual Resale Restriction Period are as 500,000 No contractual resale restriction, 250,000 Three months from the Closing Date, 250,000 Six months from the Closing Date, 250,000 Nine months from the Closing Date. The Vendor will also be granted a 1% net smelter royalty on six of the seven Concessions. Completion of the Proposed Transaction is subject to customary closing conditions, including receipt of the approval of the TSX Venture Exchange.