European Minerals Corporation
LSE : EUM

European Minerals Corporation

June 11, 2008 09:00 ET

European Minerals Corporation Learns of Possible Claim, Lero Gold Corp. Reschedules Shareholder Meeting to June 12, 2008

FOR:  EUROPEAN MINERALS CORPORATION

TSX SYMBOL:  EPM
AIM SYMBOL:  EUM

AND  LERO GOLD CORPORATION

TSX VENTURE SYMBOL:  LER

June 11, 2008

European Minerals Corporation Learns of Possible Claim, Lero Gold Corp. Reschedules Shareholder
Meeting to June 12, 2008

LONDON, UNITED KINGDOM--(Marketwire - June 11, 2008) - European Minerals Corporation ("EMC")
(TSX:EPM)(AIM:EUM) announces that it has learned of a Statement of Claim (the "Claim") issued in the
Ontario Superior Court of Justice (Court File No. 58422CP) against EMC and two of its officers. The
Claim, which has not yet been served on any of the defendants, names Bernard Szuszkiewicz as a
proposed representative plaintiff in a proposed class proceeding on behalf of persons who acquired
securities of EMC during the period from May 16, 2007 until March 31, 2008. The Claim relates to the
announcement by EMC on March 31, 2008 that it was reviewing its accounting for derivatives to ensure
compliance with certain provisions of the CICA Handbook and that it anticipated that such review would
result in a restatement of EMC's interim financial statements for the first three fiscal quarters of
2007. The financial statements were restated and were subsequently issued by EMC on April 11, 2008 and
filed on SEDAR (www.sedar.com). The plaintiff is claiming general and special damages in the amount of
CAD$50,000,000 and punitive damages in the amount of CAD$5,000,000. The claim has not yet been
certified as a class action. EMC believes that the Claim is without merit and intends to vigorously
dispute the Claim if and when it is served.

Lero Gold Corp. ("Lero") (TSX VENTURE:LER) has reviewed the Claim with EMC. Each of Lero (after taking
advice from its financial advisor Canaccord International Ltd.), its special committee (after taking
advice from its financial advisor PI Financial Corp.) and EMC (after taking advice from its financial
advisor Endeavour Financial International Corporation), continue to support the business combination
between Lero and EMC. Accordingly, Lero is proceeding to consider the proposed business combination at
a reconvened meeting of its shareholders to be held on Thursday, June 12, 2008, after the meeting was
adjourned from June 10, 2008. The reconvened meeting will be held at 9:00 am (Vancouver time) on
Thursday, June 12, 2008 at 2nd Floor, 888 Dunsmuir Street, Vancouver, British Columbia.


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FOR FURTHER INFORMATION PLEASE CONTACT:

European Minerals Corporation - United Kingdom
Tony Williams
Chairman
+44 (0) 20 7529 7508

OR

European Minerals Corporation - United Kingdom
Bert Kennedy
President and CEO
+44 (0) 20 7529 7508
Website: www.europeanminerals.com

OR

EMC's Nomad - United Kingdom
Grant Thornton Corporate Finance
Gerry Beaney/Colin Aaronson
+44 (0) 20 7383 5100

OR

Lero Gold Corp. - United Kingdom
Dr. Sergey V. Kurzin
Chairman
+44 (0) 20 7514 0590

OR

Lero Gold Corp. - United Kingdom
Alexander Yakubchuk
CEO
+44 (0) 20 7514 0590

OR

Lero Gold Corp. - United Kingdom
Gavin Dallas
Investor Relations
+44 (0) 20 7514 0590
Website: www.lerogold.com

OR

Bankside Consultants - United Kingdom
Michael Padley/ Michael Spriggs
+44 (0) 20 7367 8888

OR

Vanguard Shareholder Solutions Inc. - North America
Keith Schaefer
1-866-448-0780
Email: ir@vanguardsolutions.ca

Contact Information

  • European Minerals Corporation