63% WO₃: San Juan tungsten confirms commercial-grade concentrates

Stockholm, 7 September 2026 – The mining company Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”; hereinafter “Eurobattery Minerals” or the “Company”) announces the results of the metallurgical process design testwork programme carried out by SLR Consulting Limited at its laboratory in Truro (United Kingdom) on a bulk sample from the San Juan project in A Gudiña, Ourense.

The programme, carried out between April and July 2026 in consultation with Minepro Solutions, aimed to determine the concentrate grade and tungsten recovery achievable through conventional gravity concentration.

The tests conducted by SLR Consulting were performed exclusively using a gravity-based circuit. No flotation, no chemical separation reagents and with conventional off-the-shelf equipment.

Main results

63.1% WO₃	Concentrate grade obtained in the cleaning stage
No flotation	Exclusively gravity-based circuit. No chemical separation reagents and no leaching.
6.67 kWh/t	Bond crushing index, classified as “very easy”. An abrasion index of 0.12 classifies the ore as “slightly abrasive”.
92%	Proportion of free or liberated scheelite in the sample. Only 4% appears encapsulated.
0.07 m²/t/day	Thickener unit area, compatible with conventional thickening technology.

The tested circuit, comprising hydrocyclone desliming, spiral concentration, a scavenging stage and a cleaning stage, recovered 49.9% of the tungsten contained in the feed into a concentrate mass equivalent to 0.7% of the original feed. All equipment used is conventional and commercially available: hydrocyclone, spirals, shaking tables and thickener.

Pedro E. Jiménez de Francisco, Project Director of Tungsten San Juan S.L., comments:

“The work programme carried out by SLR has enabled us to thoroughly characterise the behaviour of the ore through an extensive programme of metallurgical tests and mineralogical studies specifically designed to support the Engineering and project definition phases.

The results obtained by SLR have been highly satisfactory and not only confirm the significant potential of the deposit but also provide a rigorous technical basis for the design of the future processing plant, allowing key process parameters to be validated and the planned configuration for the different stages of ore treatment to be optimised. This information represents an essential step in reducing technical risks and defining an efficient and competitive processing strategy.”

Market benchmark*

For comparison purposes, the metallurgical parameters published by operating tungsten mines and by projects with an available feasibility or prefeasibility study are presented below. All assets with publicly available data are included, without selection.

Asset type	Feed grade	Recovery	kg WO₃/t
Operating mines (Europe and Australia)	0.13% – 0.24%	60%	0.86 – 1.37
Projects with feasibility or prefeasibility	0.10% – 0.45%	55% – 81%	0.74 – 3.65
Tungsten San Juan (laboratory testwork**)	0.73%	49.9 – XX%	3.64

Grades expressed in WO₃. The last column is the product of grade and recovery, i.e. the tungsten recovered per tonne of ore treated. The figures for operating mines are taken from quarterly reports; those for projects are taken from published feasibility and prefeasibility studies.

Roberto García Martínez, CEO of Eurobattery Minerals AB, comments:

“These results confirm what we have stated about the San Juan project: it is a deposit that can be concentrated by gravity, using standard equipment and without separation chemistry. This means a plant that is simpler to build, less expensive to operate and has a significantly lower environmental footprint than a project requiring flotation.

It is the best possible starting point for detailed Engineering and the Next phase of the project.”

Next steps

The Next steps for the project will be to advance the detailed Engineering , plant construction and commissioning in 2027.

About Tungsten San Juan

Tungsten San Juan S.L. is the owner of the San Juan tungsten project, located in the municipality of A Gudiña, in the province of Ourense, Galicia, north-western Spain. More information about the project at: https://tungsten-sanjuan.com/en/inicio-english/

*Sources for the market benchmark:

• eQ Resources Limited, Quarterly Activities Report for the quarters ended 30 September 2025 and 31 March 2026.
• Almonty Industries Inc., Annual Information Form, dated 18 March 2026, and NI 43-101 Technical Report on the Mineral Resources and Reserves of the Sangdong Project, South Korea, dated 23 June 2025, effective 28 February 2025.
• Abenójar Tungsten S.A., El Moto Tungsten Project Bankable Feasibility Study – Executive Summary, effective 31 October 2024.
• Tungsten Mining NL, Mt Mulgine Pre-Feasibility Study Results, ASX announcement, 29 January 2021.

**The data for the San Juan tungsten project are based on a laboratory test conducted on a bulk sample from the project and are not directly comparable with the performance of an industrial plant in continuous operation. The upper end of the recovery range will be determined by the plant enrichment operation.

Language versions
Eurobattery Minerals AB publishes information in English, Swedish, and German for the convenience of our shareholders and stakeholders. In the event of any discrepancies or inconsistencies between the language versions, the English version shall prevail.

About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on Swedish Nordic Growth Market (BAT) and German Börse Stuttgart (EBM). With the vision of making Europe self-sufficient in responsibly mined minerals, the Company focuses on developing mining projects in Europe to supply critical raw materials, strengthening Europe’s security of supply and supporting the sustainability transition.

Please visit eurobatteryminerals.com. for more information. Feel free to follow us on LinkedIn as well.

Contacts
Roberto García Martínez – CEO
E-mail: info@eurobatteryminerals.com

Contact Investor Relations
E-mail: ir@eurobatteryminerals.com

Mentor
Mangold Fondkommission AB is the mentor to Eurobattery Minerals AB.
Phone: +46 (0)8 503 015 50
E-mail: ca@mangold.se