Ann: Swedish Co-Cu-Ni Portfolio Secured, page-2

Swedish Co-Cu-Ni Portfolio Secured Through Direct Licence Applications

BASINGE PROJECT HIGHLIGHTS:
 Multiple significant diamond drilling intercepts including:
o Hole A: 4.5m @ 3.25% Cu (No Co analysis)
o Hole B: 1m @ 4.49% Cu & 0.46% Co
o Hole D: 7.1m @ 2% Cu & 0.39% Co
 Drilling completed tested mineralisation down dip of historical workings  Historical mining extends over multiple zones along a strike length of 250m
 Magnetic feature associated with mineralised corridor extends for 600m strike

EKEDAL, RUDA, FRUSTUNA, HAVSMON & KILA PROJECTS HIGHLIGHTS:
 Numerous Co ± Cu ± Ni mines and occurrences occurring within each with the Project areas
 Limited modern systematic exploration conducted to date  Combined landholding, including Basinge of 99km2

CORPORATE:
 Evaluating strategic partnership or divestment opportunities for Scandinavian portfolio in order to focus on flagship Dobsina Project Figure 1: Chalcopyrite-Pyrite-Biotite mineralisation (Basinge Open Pit Waste Dump) | ASX: EUC | European Cobalt Ltd | Level 11, 216 St Georges Tce, Perth, WA 6000 | | www.europeancobalt.com | +61 (08) 9481 0389 |

European Cobalt Ltd (“EUC” or “the Company”, ASX: EUC) is pleased to announce that it has acquired a significant portfolio of Swedish Cobalt-Copper-Nickel Projects via direct licence application. EUC Managing Director, Rob Jewson commented “The acquisition of the Swedish Portfolio further re-affirms EUC’s commitment to acquiring further value accretionary cobalt assets within Europe. With the strength of EUC’s flagship Dobsina Project in Slovakia, we are presently evaluating strategic partnership or divestment opportunities for the Scandinavian portfolio in order to focus on the exploration and development of Dobsina.”.

LOCATION
The Projects are located within the Bergslagen District of Sweden, ranging between 50 and 225km from Stockholm. Access to each of the Projects is via existing roads and tracks. Basinge Project Ekedal Project Frustuna Project Ruda Havsmon Project Kila | ASX: EUC | European Cobalt Ltd | Level 11, 216 St Georges Tce, Perth, WA 6000 | | www.europeancobalt.com | +61 (08) 9481 0389 |

BASINGE PROJECT CO- CU PROJECT Figure 3: Basinge Historical Co-Cu Open Pit & Underground. The Basinge Project is located 20km southeast of Boliden’s Garpenberg base metals Mine and is 125km north west of Stockholm. Historical mining reports stipulate that mining was carried out between 1580 and 1760.

The Co-Cu mineralisation at Basinge is hosted within a mixed sequence of felsic, volcanoclastic, banded quart-magnetite and felsic to intermediate lithologies. The mineralisation is largely confined to the altered (quartz-sericite-pyrite) Figure 4: Porphyry with Disseminated Chalcopyrite-Pyrite | ASX: EUC | European Cobalt Ltd | Level 11, 216 St Georges Tce, Perth, WA 6000 | | www.europeancobalt.com | +61 (08) 9481 0389 | volcaniclastics and monzodiorite porphyry intrusives.

Conjecture exists to whether the mineralisation is VMS or IOCG style. The mineralisation is interpreted from mapping and drilling to be sub-vertical to steeply east dipping. Limited drilling was completed in the mid 1950’s on what appears to be testing mineralisation sub parallel to strike.

Significant results from this drilling included the down hole intervals of:
 Hole A (West of Historical Workings): 4.5m at 3.25% Cu from 40.67m, not assayed for Co
 Hole B (Beneath Historical Workings): 1m at 4.49% Cu and 0.46% Co from 94.9m
 Hole D: 7.07m at 2% Cu and 0.39% Co from 107.36m Figure 5: Plan View of Interpreted Mineralised Corridors & Drilling | ASX: EUC | European Cobalt Ltd | Level 11, 216 St Georges Tce, Perth, WA 6000 | | www.europeancobalt.com | +61 (08) 9481 0389 | Figure 6: Basinge Drill Section | ASX: EUC | European Cobalt Ltd | Level 11, 216 St Georges Tce, Perth, WA 6000 | | www.europeancobalt.com | +61 (08) 9481 0389 |

EKEDAL, RUDA, FRUSTUNA, HAVSMON & KILA PROJECTS Limited research completed to date has identified the existence of historical Co ± Cu ± Ni mines and occurrences occurring within each with the Project areas. An open file review of all technical data available relating to these Projects has commenced and further updates will be provided upon completion of these reviews.

Nice ann, these guys are definitely not a one trick pony....