Avrupa Minerals Ltd V.AVU

Lundin Portugal

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Neves-Corvo (100% owned): Neves-Corvo produced 9,016 tonnes of copper and 25,807 tonnes of zinc in the quarter. Copper production was higher than in the prior year quarter due to higher throughput, grades and recoveries. Zinc production was higher than in the prior year quarter primarily due to increased grades and recoveries driven by the Zinc Expansion Project ("ZEP"). Production costs during the quarter were lower than the prior year quarter despite higher sales, primarily due to reduced electricity costs. Current quarter copper cash cost per pound of $2.27/lb was lower than the prior year quarter primarily as a result of lower input costs and benefited from higher production and sales

Neves-Corvo | Lundin Mining Corporation

Avrupa Minerals Ltd. (TSXV: AVU) is pleased to provide new assay results from the Sesmarias massive sulfide target area, Alvalade JV Project, Portugal.  The program is a joint venture between Avrupa Minerals (“AVU” or “Company”) and Minas de Aguas Teidas, S.A. (“Sandfire MATSA” or “MATSA”).  Avrupa continues to operate the project through the JV entity PorMining Lda., and MATSA continues to fund the exploration work.  Previously, through the JV, during 2020-2021, the Company drilled 17 diamond drill holes, totaling 8,900 meters, on six different fences along a strike length of 400 meters in the Sesmarias North Zone.

The JV returned to drilling at Sesmarias in mid-April, targeting the Central Zone, where Avrupa drilled the high-grade discovery hole, SES002, in 2014 (see February 27, 2014 News Release).  Follow-up drilling in the immediate discovery area at that time unsuccessfully targeted shallow extensions of the mineralization seen in SES002 at a depth of about 150 meters.  Armed with a significantly upgraded targeting model constructed after a total of 46 holes and nearly 20,000 meters of drilling at Sesmarias since 2014, the JV geological team aimed deeper to 400 meters depth to attempt to locate further high-grade mineralization.