European Green Transition plc announced further results, in addition to the results announced on 15 May 2024, from recent grab samples taken at the Djupedal prospect, the nearby Bersummen area, and the newly identified Stora Lockerum structure, all located within the Olserum Rare Earth Elements project in south Sweden. The Company has received additional rock sample results for 25 rock chip samples taken at the Djupedal prospect, the Bersummen area and the newly identified Stora Lockerum structure, all located within the Olserum REE project. Fifteen of the samples in the latest batch were taken in the Djupedal prospect area with the aim of increasing sampling coverage and testing the grade of outcropping alteration and structures and other dump material surrounding the old magnetite iron workings.

A newly located dump, exposed due to recent forestry activity, was sampled 115m northwest of the previously sampled dumps. This sample, OLS-112, assayed 11.77% TREO with 2.41% NdPrDy (Neodymium, Praseodymium, Dysprosium) Oxides. Another dump sample located 20m southwest of this and adjacent to small trial workings or trenches over a few metres length assayed 4.79% TREO with 0.88% NdPrDy Oxides.

A sample which exceeded the detection limit for certain REEs, namely Ce and Pr, as part of the previous sampling batch was re-assayed by XRF methods in the ALS Brisbane lab and a new result of 15.27% TREO was determined, of which 3.67% is high value NdPrDy oxides. This sample which came from a dump adjacent to the iron workings at Djupedal also had 461 ppm Terbium (Tb) which is currently the most valuable REE. These samples support the presence of higher-grade mineralisation beyond the original known dumps at the Djupedal prospect, and are consistent with the structural model for the Djupedal prospect.

Of the 15 samples from Djupedal, 10 are from outcrop and the four best assays in outcrop were 3.91%, 2.64%, 1.83% and 0.74% TREO. Significantly, the outcrop sample OLS-100 with 0.74% TREO is located to the west of the prospect and extends the known mineralisation to 1km strike length compared to the >800m reported previously. This limited outcrop is altered with magnetite and highly sheared with coarse biotite bands and is interpreted as wallrock alteration to the target structure.

A nearby boulder sample, OLS-101, assayed 0.54%. These samples add to the evidence of a significant mineralised zone at Djupedal with steep to moderate, southerly dipping structures that have never been tested by drilling. Six grab samples from the newly discovered shear zone structure at Stora Lockerum which is roughly on trend but northwest of the Bersummen samples returned very encouraging mineralisation over 500m.

Four samples were of dump material from historic iron trial workings located 30m apart with results of 0.36%, 1.05%, 2.75% and 3.88% TREO while two samples with 1.07% and 1.29% TREO were outcrop samples. Sample OLS-094 with 2.75% TREO (0.64% NdPrDy oxides) was a grab sample of sheared pink granite containing veins of biotite and magnetite from a spoil heap located on the structure. Sample OLS-095 from a separate spoil heap had 3.88% TREO (0.897% NdPrDy oxides) with banded biotite, magnetite and quartz.

The samples taken to date at Stora Lockerum are along a 490m trend exhibiting similar mineralogy and textures to Olserum and Djupedal and these samples are further evidence of district-scale REE system with potential for higher grade mineralisation located along altered shear zones. The Company previously announced a single rock chip sample over a one metre width in this area which assayed 1.77% TREO with 0.393% NdPrDy oxides. The Company anticipates that there is a good chance of expanding the strike length of these mineralised structures once the trend is mapped.

These initial results from the Stora Lockerum target are further evidence of a district-scale REE system in this prospective and under-explored region of Sweden. Four samples from the Bersummen area northwest of Bersummen lake assayed 0.9%, 1.06%, 1.16% and 2.51% TREO. Two samples, including the sample OLS-104 with 2.51% TREO (0.56% NdPrDy Oxides) were located up to 290m apart defining a potential new mineralised trend parallel to regional strike while two other samples were located in a large dome-shaped outcrop with visible apatite just south of this trend.

It was around this outcrop that a previous sample with 0.73% TREO was taken by the Company while historic samples taken by the previous operator had results of up to 3.73% TREO. OLS-104, from a new sample location, was a 60cm chip sample in small cliff above the field edge and contained coarse biotite and apatite with minor visible xenotime and quartz. The strike length between the initial samples from Stora Lockerum in the northwest to the Bersummen samples in the southeast is 1.4km.

Further low-cost work will confirm if this represents a single structure or two near parallel or offset structures. All samples were securely bagged, cable tied, boxed, and shipped by courier to ALS Minerals in Malå, Sweden. Pulps were prepared and dispatched to ALS Minerals in Loughrea, Ireland and analysed by method ME-MS81h for ore-grade rare earth elements.

The Company submitted blind REE reference standards provided by Geostats Pty and blanks within the sample stream to ALS and monitors the results for accuracy. ALS also performs its own internal QA/QC procedures to assure the accuracy and integrity of results. The rock chip and grab samples reported here may not be representative of more systematic sampling methods such as channel sampling and drilling over broad intervals but are considered an indication of the presence and potential for further mineralisation.