Avrupa Minerals Reviews Progress and Plans for 2026

Executive Summary

• Avrupa Minerals reviewed its 2025 portfolio progress and outlined near‑term exploration plans for 2026, highlighting recent permit acquisitions in Finland and a mining licence application in Portugal.
• The company now controls eight Finnish VMS permits (seven copper‑zinc targets plus one gold prospect) and is seeking joint‑venture partners to advance brownfield exploration adjacent to the operating Pyhäsalmi Mine.
• Exploration activities at the Slivova Gold Project in Kosovo are on hold pending re‑issuance of a mining licence by the local authority.

Key Details

• Finland – Permit Acquisitions:
• Acquired the Lippikylä exploration permit from First Quantum Minerals, located < 2 km from the Pyhäsalmi Mine headframe, targeting a potential south extension of the known mineral horizon.
• Previously acquired the Greater Lehto permit (late‑2024) covering an eastern extension of the mine horizon.

• Both permits contain historic data and suggest at least five drill‑ready targets (2 on Lehto, 3 on Lippikylä).

• Additional Finnish Assets:

• Acquired the KKS exploration reservation, encompassing three VMS prospects 20–30 km NNW of Pyhäsalmi Mine.

• Historical work at Kurpas, Kaskela, and Sirviö prospects (1960s‑1990s) identified low‑grade massive sulfide lenses but no recent drilling.

• Portugal – Licence Application:

• In June 2025, applied for a mining licence covering the Sesmarias Cu/Zn VMS deposit.

• Actively seeking a mining partner to advance the project; partnership discussions will continue in coming months.

• Kosovo – Slivova Gold Project:

• Partner Western Tethyan Resources holds a 51 % earned‑in interest; project currently paused pending re‑issuance of an exploration licence by the Kosovo Mining Bureau (ICMM).

• Anticipates licensing activity to resume following recent government changes.

• 2026 Exploration Outlook (Finland):

• AFOy holds eight permits covering seven VMS target areas within ~40 km of Pyhäsalmi Mine and one gold prospect in the Oijärvi Greenstone Belt.
• Goal: discover ≥10 Mmt of copper‑zinc ore to feed the existing on‑site mill (capacity 1.2–1.4 Mmt/yr).

• Planning to commence work at Lippikylä and Greater Lehto once a JV partner is secured.

• Corporate Statement:

• Avrupa Minerals emphasizes its hybrid “project generator” model, focusing on politically stable European regions and actively seeking new joint‑venture partnerships for its Finnish and Portuguese projects.