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Eurobattery Minerals AB hereby publishes its year-end report Jan – Dec 2019

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Fourth quarter 2019 (same period previous year)

  • Net sales amounted to KSEK 0 (0).
  • Operating income after depreciation/amortisation and financial items totalled KSEK –2,547

(–1,737).

  • Earnings per share after depreciation/amortisation and financial items amounted to SEK -0.26

(–0.58).

  • Cash flow from operating activities was KSEK –3,494 (–1,305).

Year of 2019 (same period previous year)

  • Net sales amounted to KSEK 0 (0).
  • Operating income after depreciation/amortisation and financial items totalled to KSEK –11,808

(–3,483).

  • Earnings per share after depreciation/amortisation and financial items amounted to SEK –1.21

(–0.8).

  • Cash flow from operating activities was KSEK –12,504 (–1,308).

Significant events during the period

  • During the Quarter, the Company completed a 4 hole, 998m drill programme testing several large geochemical and geophysical anomalies previously defined the Castriz prospect, part of its flagship Corcel nickel-cobalt-copper (Ni-Co-Cu) project in northwest Spain.
  • Diamond drilling commenced at Castriz on 17 September and was completed on 7 November. Geological logging and geochemical sampling of the drill holes has determined there to be large areas of ultramafic rock with elevated Ni-Co-Cu metal contents. Mineral and rock studies have commenced to determine any potential for economic extraction.
  • During the Quarter, the Company completed new samples for petrographic and chemical analysis on our swedish projects and previously found and analyzed bouldes and outcrops have been investigated further.
  • The Company welcomed the election of Monia Benbouzid as Chairman. Monia is a market and green tech expert and has held senior roles with several large groups including UN, Green Party, African Union.

Significant events after the period

  • The Company released the final results from the remaining two diamond drill holes at Castriz. Results show that the anomalous levels of nickel now intersected for over 700m in strike and 700m in width. This is much larger area then previous analysis and drilling activities indicated
  • The Company has been inserted as a partner in the EU project S3-MINE.  S3-MINE main objective is the development and implementation of a mining pilot at 10 different facilities in 6 different EU countries to demonstrate the feasibility of innovative digital technologies throughout the mining life cycle as a powerful tool to increase efficiency, selectivity and profitability of the mining operations while minimizing environmental impacts and associated health & safety issues. As a preselect member in the S3-MINE project the Company can apply for monetary funding from a fund assigned to this project.

Summary of CEO comments:

  • During the quarter the Company completed the maiden drilling programme at the Castriz prospect.
  • Drilling has confirmed what the historical explorers originally reported and identified that the extensive zone of bedrock with elevated Ni-Co-Cu contents is much larger than previously thought, measuring approximately 700m in strike and up to 700m in width.
  • In 2020 the Company will complete the remaining tests at the Castriz prospect needed to assess its economic potential.
  • The Company has also commenced planning its 2020 work programme at the Corcel Project and will look to expand the zones of prospectivity to other areas of the project.
  • The Company completed new samples for petrographic and chemical analysis on our Swedish projects and previously found and analyzed boulders and outcrops have been investigated further.
  • The Company is proud of what it has achieved to-date and continues to implement its strategy to become a European-based mining company targeting extraction of ethical and fully traceable battery minerals which are critical to the EV market in Europe.

Eurobattery Minerals AB’s year-end report January – December 2019 is attached to this press release and is available to download from the Company’s website:

https://eurobatteryminerals.com/en/economic-reports/

For further information, please contact:

Roberto García Martínez, CEO

Email: roberto@eurobatteryminerals.com

This information is of the kind that the Company is required to disclose in accordance with the EU’s Market Abuse Regulation. The information was issued for publication through the agency of the contact person set out above on February 26, 2020 at 08:00 CEST.

Eurobattery Minerals in brief

Eurobattery Minerals is a mining and prospecting company focused on battery minerals such as nickel, cobalt, copper and rare earth elements. Business activities and operations are conducted exclusively in Europe with a focus on Spain and northern Sweden. The company has one mining license and eight exploration licenses. The headquarters is located in Stockholm. 

Augment Partners AB, tel. +46 8 505 651 72, email: info@augment.se is Eurobattery Minerals’ Mentor

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