European Green Transition announced further results from recent channel and grab sampling at the Djupedal prospect within the Olserum Rare Earth Elements (REE) project located in south Sweden. The results announced include six channel samples cut across mineralised outcrops to obtain representative samples across exposed outcrops and 37 grab samples across the Djupedal prospect. The channel samples consist of a total of sixteen one metre samples of which twelve had significant mineralisation and are reported below.

The results confirm that the Olserum REE Project is much larger than previously thought, with a new high-priority target identified in the west of the Djupedal prospect between 580 metres and 680 metres northwest of the original Djupedal iron workings where REEs were first identified. Five out of the six channel samples were cut in this zone and all had REE mineralisation with a best result of up to three metres grading 1.58% TREO in OLS-CH-007. Due to limited outcrop, OLS-CH-008 was taken across the same structure but offset to the west and north and had higher grade with one metre grading 2.27% TREO.

The results of these two channels combined confirm that higher grade mineralisation is present at Djupedal over several metres' width, but outcrop of the mineralised structure is restricted due to the high biotite content which weathers out. Channel OLS-CH-009 was taken from an outcrop on the edge of a slope and field approximately 420 metres east of the Djupedal zone and 200 metres southwest of the Djupedal iron workings, and this also contained REE mineralisation with two metres grading 0.54% TREO. Channel OLS-CH-009 is interpreted as low-grade mineralisation in the hanging wall above a shallow southwest dipping structure sampled 80m to the north and located closer to the high-grade dump material on surface.

In addition to the channel samples, the 37 rock chip grab samples taken during the recent geological mapping add further weight to the continuity of mineralisation across the Djupedal prospect andconfirm a >800m long mineralised trend hosted in altered granite with a well-developed mylonitic shear foliation which is open to the west. The trend is associated with a strong >1km x 250m magnetic anomaly. Magnetite is associated with the REE mineralisation and strong magnetic anomalies, and confirmed REE mineralisation in the sample data, combined with a better structural understanding, make for compelling drill targets with excellent discovery potential.

New rock chip results include 1.5% and 1.04% TREO from a southerly dipping shear structure near the east of the Djupedal prospect. These samples validate the Company's new exploration model and confirm that a shallow southwest-dipping structure or set of structures may be the host for the high-grade dump material that is present on surface 90 metres to the west. Another sample of the dump material weighing 2.26kg exceeded detection limits of Ce (>5%) and Pr (>0.5%) and the total grade is in excess of 15.42% TREO and comparable with a previous high-grade dump sample that assayed 20.45% TREO.

The sample has been sent for additional X-ray fluorescence (XRF) analysis to determine the true grade. Targeting such high-grade material is a key objective of the drill program scheduled to commence in H2-2024. The strongest magnetic anomaly at Djupedal, located in the centre of the prospect, is associated with a historic trench and dump of magnetite-biotite rock which was previously unsampled.

Five new samples from this site assayed between 0.36% TREO and 1.04% TREO and this represents a strong drill target despite the limited outcrop. The core of the magnetic anomaly measures c. 100 metres x 80 metres width and will be drill tested in the upcoming drill program. A newly located magnetite-biotite altered shear zone at Stora Lockerum, located 900 metres south of the Djupedal trend, has also been confirmed to be mineralised with REEs.

A single chip sample of strong alteration over a one metre width returned 1.77% TREO with 0.393% NdPrDy oxides. The Stora Lockerum sample lies on trend with the historic Bersummen Lake samples located to the southeast. The Bersummen samples have been confirmed to contain REEs.

A previous sample taken by the Company at Bersummen had 0.73% TREO, while historic samples taken by the previous operator had results of up to 3.73% TREO are known. The new Stora Lockerum sample further confirms the regional potential for further REE discoveries in the area and the new shear zone hosted mineralisation model proposed by the Company following relogging of the historic drill core and mapping of the Olserum area. The Company has obtained and reprocessed new high-quality airborne geophysics data released by the Swedish Geological Survey (SGU) in late January 2024.

The survey was flown in 2023 over large parts of Kalmar County and includes magnetics, radiometric, and electromagnetic datasets which can assist the Company in identifying new REE targets across the large 101 sq. km licence area to support the district scale potential of the project. The Olserum project - which is designated as a project of National Interest for REEs by the SGU - is located in a region which is under-explored but which is highly prospective for critical minerals such as REEs.

Additionally, the SGU is commencing a new regional mapping program in the Västervik region around Olserum, and look forward to further updates as this mapping project progresses and data becomes freely available. Channel samples were cut with a diamond consaw, and all samples were one metre long and c. 3-5cm wide with a continuous one metre sample collected in each run. All channel samples are from surface outcrops.

All samples were securely bagged, cable tied, boxed, and shipped by courier to ALS Minerals in Malå, Sweden. Pulps were prepared and dispatched to ALS Minerals in Loughrea, Ireland and analysed by method ME-MS81h for ore-grade rare earth elements. The Company submitted blind REE reference standards provided by Geostats Pty and blanks within the sample stream to ALS and monitors the results for accuracy.

ALS also performs its own internal QA/QC procedures to assure the accuracy and integrity of results.