Ann: Austrian Lithium Projects, page-4

Yes, its in with Sizzle, out with Yahua at this stage...


On 8 September 2022, EVR announced that high-grade lithium assays up to 3.24% Li2O were returned from rock chip samples taken during a sampling programme at the Eastern Alps Project which are located close to European Lithium’s Wolfsberg Project, which has a JORCcompliant Total Mineral Resource Estimate of 12.9 Mt @ 1.00 % Li2O. It was also announced that EV Resources GmbH (80% owned by EVR and 20% owned by EUR) had applied for and secured, 33 new licences covering an additional 14.90km2 at the Millstätter Seerücken and Garrach projects (which form part of the Eastern Alps Project).

At this point in time, the strategic partnership with Ya Hua International Investment and Development Co Ltd (“Yahua” in respect of the Company’s lithium assets will not progress. EVR will continue to develop these assets to the next stage before any agreement will be finalised. This further development of the assets enables full value to be obtained for the lithium projects and, as such, further work and drill programs will commence on these projects, pending availability of drill rigs and related approvals. Yahua continues as a strategic investor in EVR and is supportive of the Company’s exploration of these assets. Discussions will be re-evaluated once further work is carried out on the lithium assets.