European Metals Holdings Limited (ASX & AIM: EMH, OTCQX: EMHXY, ERPNF and EMHLF) ('European Metals' or the 'Company advises that it has completed the cancellation of 10,000,000 unlisted options (exercise price $0.25 expiring 31 December 2022) and the issue of 6,343,007 CDIs in lieu of these options in accordance with the terms and conditions of the consultant options held by European Energy and Infrastructure Group Limited. The CDIs have been issued for nil consideration per the terms and conditions of the options and under Listing Rule 7.2 exception 9.

Notice pursuant to Section 708A(5)(e) of the Corporations Act 2001

The Corporations Act 2001 ('Act') restricts the on-sale of securities issued without disclosure, unless the sale is exempt under section 708 or 708A of the Act. By giving this notice, the securities issued pursuant to the Fund Facility Agreement ('Securities') and noted in the attached Appendix 2A will fall within the exemption in section 708A(5) of the Act.

Pursuant to section 708A(5)(e) of the Corporations Act 2001 (Cth) ('Corporations Act'), the Company gives notice that:

(a) the Company issued the Securities without disclosure under Part 6D.2 of the Corporations Act; and

(b) as at the date of this notice, the Company has complied with the provisions of Chapter 2M of the Corporations Act as they apply to the Company and section 674 of the Corporations Act; and as at the date of this notice, there is no information:

i. that has been excluded from a continuous disclosure notice in accordance with the Listing Rules; and

ii. that investors and their professional advisors would reasonably require for the purpose of making an informed assessment of:

1. the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

2. the rights and liabilities attaching to the Securities.

The Appendix 2A is attached.

For the purpose of ASX Listing Rule 15.5, the Executive Chairman has authorised the Cleansing Notice and Appendix 2A to be released.

Contact:

EUROPEAN METALS HOLDINGS LIMITED

ABN 55 154 618 989

T: +61 8 6245 2050

F: +61 8 6245 2055

Level 3, 35 Outram

Street West Perth WA 6005 PO Box

646 West Perth WA 6872

WEB: www.europeanmet.com

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