Phase 2 Drilling Progress Update – Competent Person’s Amendment

Phase 2 Drilling Progress Update – Competent Person’s Amendment

Further to the announcement released on 3 June 2021, European Lithium Limited (ASX: EUR, FRA: PF8,) (European Lithium or the Company) provides the following amendment in relation to the Phase 2 resource extension drilling program at the Wolfsberg Lithium Project (Wolfsberg or Project).

In accordance with ASX listing rules, ECM Lithium AT GmbH includes the below competent person statement confirming that pegmatite intersections have been encountered with a true thickness of up to 1.91 m. Independent laboratory ALS Ireland have analysed two (2) out of the six (6) sample batches which confirm geochemical analysis show Li2O grades up to 2.4 %.

The aim of this infill program is to significantly increase the existing JORC reserves for the DFS (Definitive Feasibility Study) and show extensions of the ore body for future drilling programs.

Competent Person's Statement

The information in this announcement pertaining to the Wolfsberg Lithium Project, and to which this statement is attached, relates to Exploration Results, Mineral Resources or Ore Reserves and is based on and fairly represents information and supporting documentation provided by the Company and reviewed by Mr Don Hains, who is the independent Qualified Person to the Company and is a Member of the Association of Professional Geoscientists of Ontario with over 30 years' experience in the mining and resource exploration industry. Mr Hains has sufficient experience, as to qualify as a Competent Person as defined in the 2012 edition of the "Australian Code for Reporting of Mineral Resources and Ore reserves". Mr Hains consents to the inclusion in the report of the matters based on information in the form and context in which it appears. The company is reporting the historical exploration results under the 2012 edition of the Australasian Code for the Reporting of Results, Minerals Resources and Ore reserves (JORC code 2012).

This announcement has been authorised for release to the ASX by the Board of the Company.

Click here for the full ASX announcement.

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European Lithium Limited (ASX:EUR, FRA:PF8, VSE:ELI) (EUR or the Company) is pleased to announce that it has received commitments to raise A$7 million through a placement to sophisticated investors at $0.05 per share. Investors will also be issued one option (exercise price $0.075, expiring 3 years from issue) for every 2 shares issued.

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