REG - European Green Trns. - Extension granted for Olserum REE Project

European Green TransitionAnnouncement

12/05/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250512:nRSL2337Ia&default-theme=true

RNS Number : 2337I  European Green Transition PLC  12 May 2025

12 May 2025

European Green Transition plc

("European Green Transition", "EGT" or "the Company")

Olserum REE Project licence extension complete

 

Successful extension granted for Olserum REE Project

 

European Green Transition (AIM: EGT), a company developing green economy
assets in Europe, is pleased to announce the granting of a four-year extension
to June 2029 for the Olserum no. 21 license at the Olserum Rare Earth Elements
("REE") project in Sweden (in which the Company holds a 100% interest) by
Bergsstaten, the Swedish Mining Authority.

The Olserum no. 21 license covers a 10.99km(2) region located in southeast
Sweden, about 6km from the town of Gamleby and 25km northwest of the larger
port town of Vastervik. The license area covers Olserum's historic resource
estimate, consisting of 4.5Mt grading 0.6% TREO(1) in the indicated category
and 3.3Mt grading 0.63% TREO in the inferred category, in addition to the
region covering EGT's recent 1,500m drill programme, which delivered positive
results with significant REE mineralisation evident adjacent to the historic
resource at Olserum West and Djupedal, confirming the district scale potential
of the Olserum REE Project.

The four-year license extension could be critical for any incoming acquiror or
partner of the Olserum REE project and further strengthens the Company's
position in discussions going forward.

Cathal Friel, Co-founder and Non-Executive Chairman, commented:

"Geopolitical uncertainty has highlighted the urgent need for Europe to
establish a secure supply of REEs to support European industry. There are
currently no active REE mines in Europe, and we believe the Olserum REE
project will be of critical strategic importance to the region in the years
ahead.

"This license extension is a considerable step in our plans to monetise the
Olserum project, as we seek to reallocate resources towards pursuing near-term
revenue generating opportunities. We believe Olserum is one of Europe's most
attractive rare earth assets and the receipt of a four-year license extension
validates the work we have completed to date and strengthens the Company's
position in ongoing discussions with a third party through sale or
partnership."

(1)TREO - Total Rare Earth Oxides

 

Enquiries

European Green Transition plc

 Cathal Friel, Non-Executive Chairman  +44 (0) 208 058 6129

 Aiden Lavelle, CEO
 Jack Kelly, CFO

Panmure Liberum - Nominated Adviser and Broker

 James Sinclair-Ford / Dougie McLeod  + 44 (0) 20 7886 2500

 Mark Murphy / Rauf Munir

 

Camarco - Financial PR

 Billy Clegg, Elfie Kent, Lily Pettifar, Poppy Hawkins  europeangreentransition@camarco.co.uk
                                                        (mailto:europeangreentransition@camarco.co.uk)

                                                        + 44 (0) 20 3757 4980

 

Notes to Editors

European Green Transition plc (quoted on the AIM market of the London Stock
Exchange under the ticker "EGT") is a business operating in the green
transition space in Europe. EGT intends to capitalise on the opportunities
created by Europe's transition to a green, renewables-focused economy and
plans to expand its existing portfolio of green economy assets through
M&A, targeting revenue generating businesses that support the green
transition.

 

For more information, please go to  www.europeangreentransition.com
(https://www.europeangreentransition.com/)  or follow us on X (formerly
Twitter) (https://twitter.com/EuropeanGreenT) and LinkedIn
(https://www.linkedin.com/company/european-green-metals-ltd) .

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCUAORRVVUVAUR