STRATEGIC MINERALS ANNOUNCES TERMINATION OF BUSINESS COMBINATION AGREEMENT WITH IBERAMERICAN

TORONTO, Aug. 1, 2024 /CNW/ - Further to the press release dated June 17, 2024, Strategic Minerals Europe Corp. (CBOE: SNTA) (FRA: 26K0) (OTCQB: SNTAF) ("Strategic Minerals" or the "Company") announces that the amended and restated business combination agreement (the "Amended and Restated BCA"), which amended and restated the business combination agreement entered into on March 19, 2024 (the "Original BCA") among Strategic Minerals, IberAmerican Lithium Corp. ("IberAmerican") and IberAmerican Resources Inc., pursuant to which IberAmerican had previously agreed to acquire all of the issued and outstanding common shares of Strategic Minerals (the "Business Combination") has been terminated in accordance with its terms. IberAmerican notified the Company on July 31, 2024, that, as the Business Combination was not completed on or before July 31, 2024 as required by the Amended and Restated BCA, IberAmerican was exercising its right to terminate the Amended and Restated BCA. The Company continues to seek alternative financing solutions.

About Strategic Minerals Europe Corp.

Strategic Minerals' wholly-owned subsidiary, Strategic Minerals Spain, S.L.U. ("SMS"), produces, identifies, explores, and develops mineral resource properties critical to the green economy, predominantly in Spain. SMS holds permits and a production license for the Penouta Project. SMS is the largest producer of cassiterite concentrate and tantalite in the European Union and has been recognized within the EU as an exemplary company of good practices in the circular economy. The Company is well-positioned as a major producer of sustainable and conflict-free tin, tantalum, and niobium. Strategic Minerals is a "reporting issuer" under applicable securities legislation in the provinces of British Columbia, Alberta, and Ontario.

Additional information on Strategic Minerals can be found by reviewing its profile on SEDAR+ at www.sedarplus.ca and its website at www.strategicminerals.com.

SOURCE Strategic Minerals Europe Corp.

For further information regarding Strategic Minerals, please contact: Elena Terrón, Corporate Secretary, Strategic Minerals Europe Corp., [email protected]