European Minerals Corporation

European Minerals Corporation

March 09, 2005 11:40 ET

European Minerals Corporation: Credit Approved Facility of US$80 Million for Varvarinskoye Gold-Copper Project


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: EUROPEAN MINERALS CORPORATION

TSX SYMBOL: EPM
LSE SYMBOL: EUM

MARCH 9, 2005 - 11:40 ET

European Minerals Corporation: Credit Approved
Facility of US$80 Million for Varvarinskoye
Gold-Copper Project

LONDON, ENGLAND--(CCNMatthews - March 9, 2005) - European Minerals
Corporation (TSX:EPM) (LONDON AIM:EUM) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISTRIBUTION IN
THE UNITED STATES

European Minerals Corporation ("EMC" or "the Company") is pleased to
announce it has appointed Investec Bank Limited ("Investec") and Nedbank
Capital ("Nedbank") as joint underwriters for a US$80 million debt
facility to be used to develop its Varvarinskoye gold-copper project in
northern Kazakhstan. Investec and Nedbank have each agreed to underwrite
US$40 million of the facility. The joint term sheet for the US$80
million facility has been approved by the credit committees of both
banks. Investec will undertake the role of arranger for the financing.

The Company recently announced (Press Release 28 February 2005) the
filing of a preliminary long form prospectus relating to an offering of
units in the company, the proceeds from which will be used to provide
the balance of the Varvarinskoye project financing and for general
corporate purposes. The offering is subject to receipt of all regulatory
approvals.

EMC is a junior natural resources company, principally engaged in the
development of its 86%-owned Varvarinskoye gold-copper project in
northern Kazakhstan.

This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities of EMC in the United
States.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    European Minerals Corporation
    Anthony J Williams/Bert Kennedy
    Chairman/President and CEO
    +44 (0) 20 7529 7508
    or
    Gresham PR Ltd.
    Neil Boom/Jenny Leahy
    +44 (0) 20 7404 9000
    or
    Vanguard Shareholder Solutions, Inc.
    Keith Schaefer
    1-866-448-0780 North America
    ir@vanguardsolutions.ca
    No stock exchange, securities commission or other regulatory authority
    has approved or disapproved the information contained herein.