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European Metals Holdings Ltd

European Metals Holding Ltd Further Shallow Lithium-Tin Mineralisation Intersected at Cinovec

European Metals Holdings Limited ORD NPV (DI) (ASX and LON:EMH) has today announced analytical results for a further two drillholes CIW-07 and CIW-08 at the Cinovec Lithium-Tin-Tungsten Project (“the project” or “Cinovec”).

Key Points:

· The two drillholes are collared near the historic main shaft.

· Significant lithium mineralization intersected from less than 10m depth in both holes, these are the shallowest intervals to-date.

· Drillhole CIW-07 returned a lithium-mineralized intercept of 226.7m @ 0.45% Li2O (inclusive of a 6.6m below cut-off un-altered granite), from 35m.

· Drillhole CIW-08 returned a mineralized intercept of 246.3m averaging 0.40%Li2O from 10.7m, containing high grade intervals of 6m@0.78%Li2O (126-132m) and 4m@0.88%Li2O (147-151m).

· Significant tin and tungsten mineralization was intersected in upper part of both drillholes:

o Drillhole CIW-07 – 12.5m@0.19%Sn and 0.028%W, 3.05m@0.17%Sn and 0.077%W, 1.45m@0.83%Sn and 0.124%W, 5m@0.17%Sn and 0.001%W and 2m@0.112%W and 0.04%Sn

o Drillhole CIW-08 – 4m@0.76%Sn and 0.081%W, 6m@0.38%Sn and 0.030%W, 4m@0.19%Sn and 0.003%W and 2m@0.79%Sn and 0.095%W

· Drilling continues in the western part of the Cinovec deposit (targeting high grade zones near the rhyolite/granite contact) and in the central part (targeting near-surface mineralization on the flanks of the historic underground mine). Altogether, nine drillholes have been competed this year (3,222m) with three other underway at this time.

European Metals CEO Keith Coughlan said “We are very pleased with the results for the latest two neighboring drillholes, located in the uppermost part of the Cinovec deposit near the historic mine shaft. The shallow lithium intercepts that extend significantly beyond historical workings, combined with the substantive tin and tungsten grades auger well for the economics of the deposit in this area. We are very pleased to see the tin price back above USD 21,000/t. This enhances the economics of Cinovec significantly and provides us with great flexibility with regards to the development of the project. Cinovec is not only the largest lithium resource in Europe, it also contains one of the largest undeveloped tin resources in the world.”

Drill Programme

The drillholes CIW-07 and CIW-08 are located in the central part of the Cinovec, near the Central Shaft where high grade tin and tungsten veins were mined in the past. The current drill programme at Cinovec Main has been planned to confirm and delineate near surface lithium and tin mineralisation that would provide initial feed to the mill. Other goals are the conversion of resources from the Inferred to Indicated category, and delivery of material for metallurgical testing. So far, nine diamond core holes have been completed, and three are underway. Visual inspection and logging indicates that the geology in these holes is as expected. Drill details are listed in Table 1 below.

After geological logging, drill core is cut in half with a diamond saw. Quarter core samples are selected (honouring geological boundaries) and dispatched to ALS (Romania) for preparation and assay; the 3/4 of the core is returned to the core box and stored securely on site. Samples are being prepared and analysed by ALS using ICP and XRF techniques following standard industry practice for lithium and tin deposits. Strict QAQC protocols are observed, including the insertion of a Li standard in random fashion for every 10 core samples.

Table 1 – Completed drillholes, Cinovec Main

Hole ID North East Elevation (m) Depth (m) Azimuth Dip Comments
CIW-11 -966097.5 1) -779299.5 1) 867.4 444.4 40.1 -77.86 confirmation/infill
CIW-20 -965638.0 1) -778810.5 1) 837.5 257.6 336.7 -84.6 confirmation/infill
CIW-19 -965692.1 1) -778810.8 1) 837.8 271.5 332.1 -89.58 confirmation/infill
CIW-08 -965800.2 1) -778791.4 1) 837.6 274.9 156.85 -89.3 confirmation/infill
CIW-18 -966185.0 2) -779020.0 2) 837.5 395.7 210.6 -89.05 confirmation/infill
CIW-13 -966126.8  1) -779175.5  1) 862.8 429.3 76 -80.4 confirmation/infill
CIW-14 -966088.0 2) -779050.0  2) 858 417.8 323.3 -89.07 confirmation/infill
CIW-07 -965847.0 2) -778867.0  2) 841 300 3) -90 3) confirmation/infill
CIW-28 -965925.0 2) -779215.0 2) 864.7 430.5 3) -90 3) confirmation/infill
Hole locations are recorded in the local S-JTSK Krovak grid, 1)Coordinates surveyed, 2)Coordinates determined by GPS, 3)Planned, no inclinometry yet

Hole locations are recorded in the local S-JTSK Krovak grid, 1)Coordinates surveyed, 2)Coordinates determined by GPS, 3)Planned, no inclinometry yet

Mineralized Intercepts and Lithology in CIW-07 and CIW-08

The drillholes CIW-07 and CIW-08 are collared in altered granite near the historic mine shaft. This geological domain is characterized by the presence of quartz veins flanked by relatively narrow li-mica veneers, hosted in variably altered (greisenized) and mineralized lithium granite. Most of the quartz veins were mined out in the past. The drillholes hit several open stopes after vein mining.

This geological domain has also a distinct geochemical signature in that the vein-hosting granite is continuously enriched in tin. So in CIW-07 the upper 184.2 meters average 0.058%Sn (median 254ppm), and 164.3m@0.066%Sn (median 210ppm) in CIW-20, respectively.

The vein system is underlain by greisenized granite and greisen intervals well mineralized in lithium.

Table summarizing mineralised intercepts in CIW-07

CIW-07
From To Interval (m) Li2O (%) Sn (%) W (%) Note
3.5 15 10.5 *) 0.3
35 157 117.7 *) 0.4 incl. 9.55m@0.75%Li2O (69.9-80.1m),
and 4.81m@0.73%Li2O (88.72-94.4m)
69.9 83.3 12.5 *) 0.69 0.19 0.028
73.45 76.5 3.05 0.62 0.17 0.077
88.72 90.17 1.45 0.62 0.83 0.124
93.4 94.4 1 1.07 0.25 0.004
102 103 1 0.57 0.12 0.003
118 119 1 1.09 0.16 0.016
141 142 1 0.43 0.1 0.002
142 143 1 0.47 0.09 0.121
157 162 5 0.12 0.17 0.001
163.6 266 102.4 0.55 incl. 5m@0.77%Li2O (173-178m),
23m@0.76%Li2O (187-210m),
3.95m@1.11%Li2O (196-199.95m),
7m@0.59%Li2O (232-239m)
and 21m@0.62%Li2O (242-263m)
173 175 2 0.74 0.04 0.112
191 192 1 0.42 0.16 0.002
Cut-off: 0.2%Li2O, 0.1%Sn, 0.05%W
 *) intercept net of open stopes from past mining
Table summarizing mineralised intercepts in CIW-08.
CIW-08
From To Interval (m) Li2O (%) Sn (%) W (%) Note
10.7 257 244.3 *) 0.4 incl. 4m@1.01%Li2O (126-130m),
9m@0.90%Li2O (148-157m),
and 27m@0.51%Li2O (218-245m)
74 78 4 0.34 0.76 0.081
83 84 1 0.4 0.12 0.11
98 99 1 0.98 0.34 0.004
106 107 1 0.38 0.12 0.002
109 110 1 1.27 0.14 0.021
126 132 6 0.78 0.38 0.03
147 151 4 0.88 0.19 0.003
167 168 1 0.41 0.13 0.006
61 62 1 0.49 0.01 0.121
66 67 1 0.77 0.01 0.994
74 75 1 0.3 1.05 0.221
80 84 4 0.39 0.05 0.069
126 128 2 1.24 0.79 0.095
Cut-off: 0.2%Li2O, 0.1%Sn, 0.05%W
 *) intercept shorter by mined-out cavities

(Please refer to the announcement on the European Metals Website for the graphic Figure 1 – A geological map showing the Company’s drill holes against surface geology and subsurface greisen bodies projected to surface (in green). Historic UG workings and drill holes not shown. Blue and Green circles denote drillholes completed in 2014 and 2015, respectively, 2016 drillholes in white – www.europeanmet.com.)
BACKGROUND INFORMATION ON CINOVEC

PROJECT OVERVIEW

Cinovec Lithium/Tin Project

European Metals Holdings Limited ORD NPV (DI) owns 100% of the Cinovec lithium-tin deposit in the Czech Republic. Cinovec is an historic mine incorporating a significant undeveloped lithium-tin resource with by-product potential including tungsten, rubidium, scandium, niobium and tantalum and potash. Cinovec hosts a globally significant hard rock lithium deposit with a total Indicated Mineral Resource of 49.1Mt @ 0.43% Li2O and an Inferred Mineral Resource of 482Mt @ 0.43% Li2O containing a combined 5.7 million tonnes Lithium Carbonate Equivalent.

This makes Cinovec the largest lithium deposit in Europe and the fourth largest non-brine deposit in the world.

Within this resource lies one of the largest undeveloped tin deposits in the world, with total Indicated Mineral Resource of 15.7Mt @ 0.26% Sn and an Inferred Mineral Resources of 59.7 Mt grading 0.21% Sn for a combined total of 178kt of contained tin. The Mineral Resource Estimates have been previously released on 18 May 2016. The deposit has previously had over 400,000 tonnes of ore mined as a trial sub-level open stope underground mining operation.

A Scoping Study conducted by specialist independent consultants indicates the deposit could be amenable to bulk underground mining. Metallurgical test work has produced both battery grade lithium carbonate and high-grade tin concentrate at excellent recoveries with the Scoping Study. Cinovec is centrally located for European end-users and is well serviced by infrastructure, with a sealed road adjacent to the deposit, rail lines located 5 km north and 8 km south of the deposit and an active 22 kV transmission line running to the historic mine. As the deposit lies in an active mining region, it has strong community support.

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