Feasibility Study Update for Cinovec Project

European Metals Holdings Limited (ASX: $EMH) has provided an update on the Cinovec Project, with Geomet, 49% owned by European Metals, in the process of completing the Project Definitive Feasibility Study (DFS) for the Cinovec Lithium Project in the Czech Republic. DRA Global Limited was appointed to complete the DFS in February 2023. The Company expects to make a further announcement before the end of April 2024 detailing some of the more significant issues that may significantly improve the lithium processing component of the DFS.

Executive Chairman's Commentary on Feasibility Study Update

Keith Coughlan, Executive Chairman, commented on the update: 'Whilst it is unfortunate not to be able to provide a fully completed DFS at this stage, I am confident that the developments currently being finalized will add significantly to the Project. In particular, permitting and timelines are expected to be positively impacted by the team's additional work. The Cinovec Project remains an important part of the drive to improve critical materials security in the EU.'

Summary of Feasibility Study Update

European Metals Holdings Limited (ASX: $EMH) has provided an update on the Cinovec Project's Feasibility Study, with Geomet and DRA Global reviewing significant matters that may improve the lithium processing component. The Company expects to make a further announcement before the end of April 2024 detailing some of the more significant issues. The review process could significantly improve the economic and social/community outcomes. Additionally, the European Union's Critical Raw Materials Act is expected to positively impact the Project, with the Cinovec Project applying for Strategic Project designation under the CRMA. The Project has already been granted Strategic Process status under the EU's Just Transition Fund. The Cinovec Project is expected to contribute to the fulfilment of the green transition and provide the European Union with critical raw materials independence.