vancouver british columbia, January 10, 2024 /PRNewswire/ – Capella Minerals Co., Ltd. (TSXV: CMIL) (OTCQB: CMILF) (FRA: N7D2) (“Capella” or the “Company”) notes today’s news release from joint venture partner European Energy Metals Corp. (TSX.V: FIN) (‘European Energy’) ) to confirm completion 1 million Canadian dollars A material requirement for the exploration expenditure of the Central Finland Lithium Project (the “Project”) to earn the first 51% interest of the Project pursuant to the original earn-in agreement (see Company news release dated March 20, 2023). European Energy’s field team completed an extensive sampling and mapping program during the summer and fall of 2023, including the collection of approximately 1,100 rock chip grab samples, resulting in several We have discovered a potential high-grade lithium site. European Energy is CAD 100,000 Transferred cash and 400,000 shares of FIN common stock to Capella.
European Energy’s news release is available at https://europeanenergymetals.com/news/news-2024.html.
Eric RothPresident and CEO of Capella Comment: “Today I am pleased to report on the progress European Energy has made in advancing the Central Finland Lithium Project. Highlights of exploration activities to date include These include the discovery of rock sequences containing high-grade spodumene.” (See European Energy News Release December 7, 2023), two Exploration Licenses (ELs) covering 4,550 hectares are currently being applied for to permit initial reconnaissance drilling. Further updates regarding the timing and details of the next stage of exploration will be provided following receipt of the exploration license. ”
Qualified Persons and Disclosure Statement
The technical information about the Central Finland Lithium Project in this news release has been prepared in accordance with Canadian regulatory requirements as set forth in NI 43-101 and has been approved by NI. Eric Roth, our president and CEO, a director, and a qualified person under NI 43-101. Mr. Ross holds a Ph.D.in economic geology at university western australiais a Fellow of the Australian Institute of Mining and Metallurgy (AusIMM) and a Fellow of the Society of Economic Geologists (SEG). Mr. Ross has 35 years of experience in evaluating international mineral exploration and mining projects.
On behalf of the Board of Directors of Capella Minerals Ltd.
“Eric Roth”
__________________________________
Eric RothPh.D., FAusIMM
President and CEO
About Capella Minerals Co., Ltd.
Capella is engaged in the acquisition, exploration and development of high-quality mineral resource assets in favorable jurisdictions, with a focus on base metals and battery metals projects in Europe.
upon October 17, 2023The company has entered into a binding asset sale agreement with Norwegian private mining company NickelX, under which it will sell its 100% interest in the Hesjögruva, Schorri and Lokken copper-zinc-cobalt projects in central Trøndelag. It turns out. Norway. NickelX currently owns 100% interest in his four nickel exploration projects in the north. Norway (i.e., Hamn, Palfjellet, Birgivi, and Envold) are in the process of conducting an initial public offering (“IPO”). of oslo Euronext Growth Exchange is Norwegian A leading independent battery metals company. The total transaction consideration to Capella to be paid upon completion of the NickelX IPO is as follows: 7 million Canadian dollars i) includes 5 million Canadian dollars cash, and ii) 2 million Canadian dollars Capella plans to distribute Nickel X shares pro rata to shareholders. The acquisition is currently expected to be completed in March 2024.
The Company continues to explore a gold-copper project in northern Finland in the central Lapland greenstone belt in collaboration with joint venture partner Cullen Resources Ltd (ASX: CUL). A total of six exploration permits have now been approved, including the priority target Kirero East Cu-Au.in the center FinlandThe company, through a joint venture with European Energy Metals Corp (formerly Hilo Mining), will focus on the discovery of lithium and rare earth element deposits in both the Pelho reservation, in addition to an extensive real estate package in the wider Kélibar area. I’m guessing. (TSXV:Fin).
Capella also maintains exposure to exploration success in precious metals projects through Savant’s active Canadian joint venture with Prospector Metals Corporation (TSXV: PPP) (Ontario) and Agnico Eagle Mines Ltd (formerly Yamaha Gold Inc.)(TSX/NYSE: AEM) domain (Manitoba). The company also holds a 49% interest in the Sierra Blanca Low Sulphide Gold and Silver Project. santa cruz, Argentinawhich is currently being investigated by Austral Gold Ltd (TSXV: AGLD; ASX: AGD).
Cautionary statements and forward-looking statements
This news release contains forward-looking information within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as believe, expect, anticipate, intend, estimate, assume and similar expressions, or which in its nature refers to future events. Such statements include, without limitation, statements regarding Capella’s future results of operations, performance and achievements, including the timing, completion and results of the exploration and training programs described in this release. Although the Company believes that such statements are reasonable, there can be no assurance that such expectations will prove to be correct. All such forward-looking information is based on Capella’s experience and perception regarding historical trends, current conditions and expected future developments, as well as other factors that management believes are appropriate in the circumstances. is based on certain assumptions and analysis made by. However, this information is subject to various risks, uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Important factors that could cause actual results to differ from this forward-looking information include those described under the heading “Risks and Uncertainties” in Capella’s recently filed MD&A. Capella does not intend, and expressly disclaims any obligation, to update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Capella Minerals Limited
