European Electric Metals to Acquire Miminiska Gold Property in Ontario, Name Change to Canadian Goldfields Discovery Corp. and Appointment of John Booth as CEO

Core Viewpoint - European Electric Metals Inc. is acquiring the Miminiska Gold Property in Ontario and will change its name to Canadian Goldfields Discovery Corp, with John Booth appointed as CEO [1][2][21]. Acquisition Details - The Company has entered into a Purchase Agreement with Storm Exploration Inc. to acquire mineral claims and licenses in the Miminiska-Fort Hope greenstone belt, covering 6,366.4 hectares [1][4]. - The total cash payments to Storm will amount to CAD$3,525,000, including a non-refundable deposit of CAD$200,000 and a closing cash payment of CAD$1,800,000 [25][28]. - The acquisition is subject to approval from the TSX Venture Exchange and customary conditions [30]. Property Overview - The Miminiska Gold Property consists of 278 unpatented mining claims, 43 mining patents, and 1 mining license, located approximately 350 km north of Thunder Bay [4]. - The property is situated within Eabametoong First Nation territory, with an updated Exploration Agreement in place to ensure community involvement [5]. Geological Insights - The property has significant gold mineralization associated with Algoma-type Banded Iron Formations, with notable historic drill intercepts including 20.84m at 5.75 g/t Au [7][11]. - Modern exploration has identified several targets that have not yet been drill tested, with potential similarities to Orla Mining Ltd.'s Musselwhite Mine [7][8]. Exploration Plans - Initial exploration will include step-out drilling at the Miminiska and Frond Lake prospects, with a focus on identifying structural breaks near strong magnetic anomalies [18][19]. - A Phase 1 drilling and exploration program is estimated to cost approximately CAD$1,900,000 [20]. Leadership Changes - John Booth has been appointed as CEO, bringing over 25 years of experience in international capital markets and natural resources [21][22]. - The previous CEO, Fred Tejada, will continue to contribute as a Director [24]. Financing Strategy - The Company plans to conduct a private placement financing of CAD$7,000,000 to support the acquisition and exploration activities [32][34]. - The financing will consist of common shares priced at CAD$0.20 per share, with additional flow-through shares at CAD$0.22 [32][33].