VANCOUVER, BC / ACCESSWIRE / August 22, 2024 / Europacific Metals Inc. (TSXV:EUP)(OTCQB:AUCCF) (the "Company" or "EuroPacific") is pleased to announce that Mr. Karim Rayani, who has been serving as the Company's Chief Executive Officer, Director since October 17, 2023, has now been appointed as Executive Chairman of the Board effectively immediately. Mr. Rayani will continue to hold the position of Chief Executive Officer alongside of his responsibilities as Executive Chair succeeding Catalin Kilofliski. The board of Directors thanks Catalin for his years of service to the Company, he was instrumental in forming EuroPacific. We wish him well in his future endeavors.

In addition to these management changes, EuroPacfic has appointed Dr. Wazir Khan, a renowned exploration geologist with more than 30 years' experience spanning multiple metallogenic districts including Au-Cu-Mo-Ag porphyries, Abitibi greenstone epithermal Au deposits-Cariboo gold belt. He has expertise in mineral exploration from greenfield and brownfield to feasibility studies in the mining sector. He holds a Ph.D. in economic geology and igneous petrology from University of Iowa, USA, M.Phil. in mineralogy from University of Baluchistan, and M.Sc. in mineralogy/petrology, from University of Peshawar, Pakistan. His career includes work with the Pakistan Atomic Energy Commission, Geological Survey of Pakistan, Iowa Geological Survey, US, Noront Resources, Premier Gold Mines, Red Lake Gold Mines, Barkerville Gold Mines, Rich Copper Exploration and Advanced Gold Exploration. Dr. Khan has been a member of the team involved in early exploration work at Reko Dig Cu-Au porphyry deposit of Barrik Gold in Baluchistan, Pakistan, and early-stage exploration in discovery of Ring of Fire chromite, nickel, platinum, palladium, and zinc deposits in northern Ontario. He has supervised open pit mine operation of Barkerville Gold Mines at Bonanza Ledge mine in BC Cariboo gold belt, Key Lake and Hard Rock drill exploration programs for Goldstone Resources and Premier Gold Mines in Abitibi greenstone Belt, Buck Lake, Dobie Lake, and Melba drilling exploration for Rich Copper, Advanced United and Advanced Gold Exploration in Sault Ste Marie and Timmins areas in northern Ontario. Dr. Khan's teaching includes at University of Iowa as Teaching Assistant and Principal Scientific Officer at COMSATS, Abbottabad Pakistan. Dr. Khan is member of Geological Society of Canada. His geological research, geological mapping, metallogenic modelling, and exploration work has resulted in publications of over a dozen reports, maps and research papers.

"Wazir Khan's addition to our board strengthens our technical capabilities, his extensive experience in finding and developing projects from exploration through development will be of great benefit to EuroPacific," said Karim Rayani, Chairman & Chief Executive Officer of EuroPacific. "He will be a tremendous asset to the Company as we further develop our project portfolio in Portugal along the Iberian Peninsula. I would like to finish by thanking Catalin for his years of service to the Company, under his leadership the Company made great strides, and we wish him well in his future endeavors."

Corporate Update

The Company has completed 11 holes at the Miguel Vacas copper deposit totaling 1,410m. Most of the holes intercepted a wide quartz-breccia zone varying from approximately 5m up to more than 30m thick. An undercut 350m hole was completed in addition to the initial plan. Results have been received for eight of the eleven holes drilled to date. All holes have successfully intersected the breccia zone over a strike length of 1.1km and confirmed it is open along strike both to the north and south.

Significant results include (further details are summarized in the table below):

• Hole # 1 - 22.8m grading 2.76 % Cu, from 49.4m with 9.0m grading 7.49% Cu from 57.8m

• Hole # 3 - 12.3m grading 1.55% Cu, from 66.6m.

• Hole #4 - 10.5m grading 2.56 % Cu, from 62.0m, with 5.0m grading 4.52% Cu, from 62.0m

• Hole #8 - 14.1 m grading 1.06% Cu from 47.0m, with 6.9m grading 1.81% Cu, from 52.2m

Based on these good results, a decision was made to drill a deeper hole (Hole #11) to investigate the primary ore at depth and to compare it with shallow intercepts regarding mineralogy, grades and thickness. Assays are pending from 3 holes including the undercut hole #11 which intersected significant sulphide mineralization at depth well below the supergene zone. The Company is still awaiting final assays.

About Europacific Metals Inc.

EuroPacific Metals Inc. is a Canadian public company listed on TSXV and in US on OTCQB. The Company holds brownfield gold, and copper-gold projects located in Portugal. The Company is focused on exploration in highly prospective geological settings in Europe jurisdictions. EuroPacific Metals ("EUP") owns a total of 100% equity interest in EVX Portugal, a private Portugal based company, that holds the legal exploration rights from the Portugal Government on the Borba 2 ("Borba 2") exploration properties, covering approximately 328 square kilometers in the Alentejo region in Southern Portugal. Miguel Vacas is the most advanced prospect within the Borba 2 license.

On behalf of the Board of Directors

Europacific Metals Inc.

Mr. Karim Rayani, Chair, Chief Executive Officer
11th Floor - 1111 Melville Street
Vancouver, BC V6E 3V6
E: k@r7.capital

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.

SOURCE: Europacific Metals Inc.