Avrupa Minerals drills 17 holes at Kosovo project

Oct 3, 2017

2017-10-03 15:15 ET – News Release

Mr. Paul Kuhn reports

AVRUPA MINERALS UPDATES ON EXPLORATION PROGRESS AND OPPORTUNITIES

Avrupa Minerals Ltd. has released updates on its completed summer 2017 exploration work. Exploration work is ongoing at several projects in Portugal, and the summer program in Kosovo has been completed. Partners are funding two projects in Portugal; Alvito by OZ Minerals Ltd. and Covas by Blackheath Resources Inc. In Kosovo, Byrnecut International, through the JV company Peshter Mining JSC, is operating the Slivovo gold project. Avrupa continues to review new projects in Germany, Kosovo, Portugal and elsewhere in Europe.

Avrupa plans to attend the Mines and Money Americas Conference in Toronto on Oct. 3 and 4. The company’s technical and financial management will be available both days at booth B31 at the Delta Toronto Hotel Conference Centre. In the coming month, Avrupa also plans to attend and exhibit at the New Orleans Investment Conference (Oct. 25-28), and at the Munich Precious Metals Show (Nov. 2-3). Details on how to contact company management will be forthcoming.

Portugal — Iberian pyrite belt

Alvalade project (copper-zinc), now 100-per-cent owned

Avrupa’s updated study of newly available information shows that the Alvalade project holds a significant brownfields/development target in the Caveira-Lousal-Sesmarias district;
Historic mining at the Lousal mine during the 19th and 20th centuries reportedly produced 20-25 million metric tonnes of high-iron-sulphide material for the sulfuric acid (fertilizer) business; (1)
Historical reports suggest that up to 30 million metric tonnes of copper-zinc-iron-bearing massive sulphide material remain in the ground at the historic Lousal Mine. (2)
Avrupa’s recent copper-lead-zinc discoveries at Sesmarias and Monte da Bela Vista add to potential upgrades in the district;
The Company has identified greenfields exploration targets along the entire 20-kilometre trend;
Avrupa controls the mineral rights along the entire trend;
Avrupa is actively looking for a joint venture partner to further advance the Alvalade opportunity.

(1) The numbers are compiled from numerous historic internal production reports. These reports are incomplete, but they indicate that the mine hoisted about 238,000 metric tonnes per year from 1953 through its closure in 1988. The production estimate extrapolated an annual production of 238,000 metric tonnes per annum back to 1900, and is believed to provide a reasonable maximum production estimate. No mining estimates have been made for the Caveira mine, and the Sesmarias discovery has not been mined. Avrupa’s qualified person has reviewed the data and has verified its existence and accuracy.

(2)The historic resource estimates are contained in a report authored by Leistel et al in 1998, estimated a global mineral inventory of 50 megatonnes grading 0.7 per cent copper, 0.8 per cent lead, and 1.4 per cent [zinc] for the Lousal mine. The Caveira mine does not have any known global mineral inventory. The Sesmarias discovery has limited scout drilling and no global mineral inventory. The work needed to provide a modern estimate has not been done, but would include reanalysis of historic core, drilling, sampling and three-dimensional modelling. Avrupa’s qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. The company does not treat the historical estimate as current mineral resources or mineral reserves.

Mertola Project (copper-zinc), 100%-owned

Avrupa is preparing an updated study of the historic Sao Domingos mine located on the eastern end of the licence;
The mine reportedly produced up to 25 million metric tonnes of copper-bearing massive sulphide material during the 20th century; (1)
New information suggests further brownfields exploration possibilities within sight of the mine complex;
Several targets at the old Chanca mine, located less than 10 kilometres away from Sao Domingos, are currently drill-ready;
Avrupa plans to option out the Mertola project to a partner, and marketing of the project is underway.

(1) This resource estimate was compiled from historic reports. The 1963 Mason & Barry Annual Report indicates that nearly 22 million metric tonnes had been extracted during 106 years of production, and the reserves were expected to run out at the end of 1965. No newer resource estimates have been done for the Sao Domingos mine. The work needed to provide a modern estimate has not been done, but would include reanalysis of historic core, drilling, sampling and three-dimensional modeling. Avrupa’s qualified person has reviewed the data and has verified its existence and accuracy.

Marateca project (copper-zinc), 100-per-cent owned

The Marateca project covers more than ten massive sulphide targets around the licence;
Several targets are drill-ready, including the Pego do Altar gossan target, at which recent scout drilling demonstrated continuity of mineralization down dip from the gossan outcrops;
The company recently located two new potential target areas during regional exploration traverses;
Marateca is drill-ready and is available for joint venture.

Portugal — iron-oxide-copper-gold ore and tungsten

Alvito option project (copper-gold), 100-per-cent owned

OZ Minerals funding all exploration work;
Ground geophysical surveys nearly completed and interpretations are underway;
Geological mapping is continuing;
The company discovered new copper targets within the licence area during the geophysical surveying and data collection;
Detailed drill targeting is underway, based on historical data and data from the detailed exploration work completed this summer;
Plans for a 1,500- to 2,000-meter drilling program are underway for a mid-October startup.

Covas JV (tungsten), 75 per cent Blackheath Resources Inc./25 per cent Avrupa Minerals

Blackheath Resources funding all exploration work;
Plans for a drill test of a bulk tonnage tungsten target are underway;
A single hole deep test of a coincident geophysical and geochemical anomaly is planned for Q4 2017;
The Covas area is strongly altered, has a strong reverse geophysical signature, is hosted in mixed granitic and sedimentary rocks, and carries a Gold-Arsenic-Molybdenum-Bismuth-Titanium-Iron-Tin geochemical signature;
The geochemical signature is a positive feature for intrusion-related tungsten mineralization.

Kosovo — Vardar mineral trend Slivovo gold project

Drill program completed at the Peshter target area, including 17 holes and 6,176 metres;
New, more robust geostructural exploration model updated for the Slivovo area. The structure is more complicated than previously interpreted, but leaves room and targets for future drilling programs;
Results to be reported upon receipt;
Byrnecut continues to fully fund the project;
Avrupa being diluted to a 2-per-cent net-smelter-return royalty at Slivovo.

Metovit Ag-Pb-Zn project

Previous soil sampling suggests gold and base metal target areas;
Planning underway for geological, geochemical, and targeting follow-up for Q4 work;
Aim to get to a decision point for partner-readiness.

Germany — Erzgebirge mining district

Oelsnitz Au-Sn project

Project inactive until now;
Reviewing historic targeting data from start of project;
Plans for Q4 follow-up of separate Au-Sb and Co geochemical anomalism underway;
The company has identified three areas for further follow-up work with the idea of identifying the source of anomalism and deciding on the path of further, more detailed update and targeting.

About Avrupa Minerals Ltd.

Avrupa Minerals is a growth-oriented junior exploration and development company focused on discovery, using a prospect generator model, of valuable mineral deposits in politically stable and prospective regions of Europe, including Portugal, Kosovo, and Germany. The company currently holds eight exploration licenses in three European countries, including five in Portugal covering 2,911 square kilometres, two in Kosovo covering 47 square kilometres, and one in Germany covering 307 square kilometres. Avrupa now has three active option and joint venture agreements, two in Portugal and one in Kosovo, including: The Alvito option agreement with OZ Minerals Ltd. covering one licence in the Ossa Morena zone in southern Portugal, for IOCG deposits; The Covas JV, with Blackheath Resources, covering one licence in northern Portugal, for intrusion-related tungsten deposits; and Avrupa’s partner at the Slivovo gold project in Kosovo is fully funding the program, allowing Avrupa to dilute its ownership in the JV operating company Peshter Mining JSC. If Avrupa’s ownership drops below 10 per cent, the company’s interest in the project converts to a 2-per-cent NSR.

This news release was prepared by company management, who take full responsibility for its content. Paul W. Kuhn, president and chief executive officer of Avrupa Minerals, a licensed professional geologist and a registered member of the Society of Mining Engineers, is a qualified person as defined by Canadian National Instrument 43-101. He has reviewed the technical disclosure in this release. Mr. Kuhn, the qualified person, has not only reviewed, but prepared and supervised the preparation or approval of the scientific and technical content in the news release.

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