Mr. John Booth of European Electric Metals reports

EUROPEAN ELETRIC METALS AMENDS PURCHASE AGREEMENT TO ACQUIRE MIMINISKA GOLD PROPERTY

European Electric Metals Inc. has entered into an amendment agreement dated Dec. 29, 2025, with Storm Exploration Inc., whereby the parties amended the mineral property purchase agreement dated Nov. 28, 2025, with Storm. Under the purchase agreement, the company has agreed to acquire from Storm a number of mineral claims, patented claims and mining licences located in the Miminiska-Fort Hope greenstone belt in the Thunder Bay North mining district in Ontario (the Miminiska gold property).

Under the terms of the amendment agreement, the company and Storm have agreed to limit the total number of shares issuable to Storm on the nine-month anniversary of the transaction (the second consideration shares). The company will continue to issue Storm such number of second consideration shares as is equal to $787,500 divided by the 30-day volume-weighted average price on the date that is five business days prior to the date of issuance of the second consideration shares. However, the number of second consideration shares will be limited to the following: (i) the number of shares issuable to Storm cannot exceed 19.9 per cent of the outstanding common shares of the company; (ii) the number of shares issued to Storm under the purchase agreement and under the concurrent private placement financing cannot exceed 49.9 per cent of the outstanding common shares of the company; and (iii) the number of second consideration shares cannot exceed 3,937,500 common shares of the company. In the event that the total value of the second consideration shares is less than $787,500, the company shall make a one-time payment equal to the difference of $787,500 less than the value of the second consideration shares issued to Storm.

Additional details of the purchase agreement and the Miminiska property are set out in the company's news release dated Dec. 1, 2025.

The transaction remains subject to approval of the TSX Venture Exchange and such other customary conditions set forth in the purchase agreement. The common shares of the company will continue to remain halted pursuant to Section 5.6 of Policy 5.3 of the TSX Venture Exchange.

We seek Safe Harbor.