Newsletter April 2025

Eurobattery Minerals AB publishes the newsletter for April 2025, coinciding with the subscription period for warrants that runs from 12–23 May.

Eurobattery Minerals carried out a rights issue of units with subscription period from 30 October to 13 November 2024, consisting of shares and warrants. Those who subscribed in the rights issue during the subscription period received for each unit seven new shares in the Company and four warrants of series TO6. Each warrant entails the right to subscribe for one new share in Eurobattery Minerals during the exercise period which commences on 12 May and extends until 23 May 2025. The subscription price for subscription of new shares by exercise of the Warrants has been determined to SEK 0.09 per share.

Market update from the CEO
“As the exercise period for the warrants of series TO6 commences, I would like to update you on both our market outlook and the operational progress at Hautalampi. The global demand for nickel, cobalt and copper continues to accelerate – driven by electrification, the green transition and strategic defence needs – and Europe’s push for raw material autonomy has never been more critical.

In Outokumpu Finland, we are advancing several key workstreams that support the responsible development of the Hautalampi Project.

Our Environmental Permit Application (EPA) remains active. We are currently finalizing supplementary documentation requested by the Finnish administrative authorities, including additional technical assessments, ground and surface water modelling, and environmental analyses. These will be submitted in June, in close coordination with the authorities. In parallel, we have actively supported the local zoning process in collaboration with the city administration of Outokumpu. The zoning process – critical for future building permits and project infrastructure – is now approaching completion and will soon be presented to the City Council for final approval.

Looking ahead, we are progressing to the next development phase, which includes the detailed engineering design of the future on-site concentrator plant, ensuring alignment with both environmental requirements and technical feasibility.

Simultaneously, we are strengthening our Environmental, Social, and Governance (ESG) framework, with particular focus on maintaining our social licence to operate and ensuring that stakeholder expectations are met through transparency and engagement.
Through ongoing offtake negotiations and numerous collaborative innovation projects in both Finland and Sweden, we continue to de-risk the Hautalampi project and lay the foundation for responsible, low-carbon extraction of critical raw materials essential for Europe’s green transition.

The proceeds from the warrants will be instrumental in funding these next steps – driving the project toward its bankable feasibility study and ultimately toward production of European battery minerals. We remain fully committed to transforming an historic polymetallic mine into a European hub for critical minerals, operating to the highest environmental and social standards.

Thank you for your continued support as we work to deliver value for shareholders and contribute to Europe’s clean-energy future”, says Roberto García Martínez, CEO, Eurobattery Minerals AB.

➡️ For more information about the Warrants, please see the complete terms, which are available for download on the Company’s issue site.

Eurobattery Minerals passes the first phase of evaluation in the ERMA Booster Call
On the 5 May the Company was pleased to announce that its funding application to the "ERMA Booster Call 2025" program has successfully passed the first phase of evaluation.
We submitted the application for the ERMA Booster Call at the end of March.

The ERMA Booster Call is one of Europe’s most competitive funding opportunities for innovative mining and raw materials projects. With grants of up to €2.5 million per project, the initiative aims to boost Europe’s resilience and competitiveness in critical raw materials.

Ilari Kinnunen, Managing Director for FinnCobalt commented: “The fact that we passed the first stage, underscores Hautalampi’s geological and strategic significance in contributing to the EU’s critical raw materials value chain. With defined mineral resources and established infrastructure, the project aligns well with Europe’s CRM strategy and industrial needs. ERMA funding would enable us to intensify resource definition, metallurgical optimisation, and permitting activities in line with the highest environmental and technical standards.”

And it would give more than just funding. Selected projects will gain access to Europe’s leading network of industry experts, strategic partners, and tailored guidance—empowering them to play a key role in strengthening Europe’s raw material autonomy. We are looking forward to the upcoming stages of this funding call.

Update on commodity prices

The Hautalampi mine: on the lists of largest undeveloped cobalt and copper projects in the Nordics
Our Hautalampi battery mineral project has been recognized by independent sourced as one of the largest undeveloped cobalt and copper projects in the Nordic countries.

In the case of cobalt, the Company´s battery mineral project is number five on a list of fourteen undeveloped cobalt projects in the Nordics, with a contained cobalt metal content of 7,840 tons.
The same calculations for copper are 17,700 t copper.

“This recognition confirms that Hautalampi stands out not just in terms of scale, but also in strategic importance for Europe’s future. As demand for critical raw materials continues to grow, we are focused on building a reliable and ethical source of cobalt and copper right here in Europe,” said Roberto García Martínez, CEO of Eurobattery Minerals

Press release: Eurobattery Minerals´ Hautalampi mine, on the lists of largest undeveloped cobalt and copper projects in Scandinavia

New exploration permits strengthen Eurobattery Minerals' polymetallic pipeline
Eurobattery Minerals has been granted exploration permits for the promising Hietajärvi and Saramäki mineralisations in Eastern Finland. These areas are rich in Outokumpu-type rock formations, historically known to host copper, cobalt, zinc, nickel, silver, and gold.

The permits, held by subsidiary FinnCobalt Oy, allow the company to begin modern exploration and resource evaluation in two historically underexplored yet geologically significant areas. This step further strengthens the Company’s role in securing a responsible European supply of critical raw materials for energy, digital, and defence sectors.

You can read more about our new exploration permits here ➡️ Eurobattery Minerals granted promising exploration permits for the Hietajärvi and Saramäki mineralisations
 

🚀 Onwards and upwards 🚀
As you can see from the news above: positive vibes during the last month and during this TO6 warrant exercise!

These warrants are vital to fund our next steps at Hautalampi—ensuring we keep the project on track to support Europe’s strategic autonomy in critical raw materials and to drive the clean-energy transition forward.🔥🔥🔥