Ibero Mining Corp. — Capital/Financing Update 2023

Dec 5, 2023

NOT FOR DISTRIBUTION TO UNITED STATES NEWSIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

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NEWS RELEASE

EUROPACIFIC CLOSES SECOND TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

VANCOUVER, BRITISH COLUMBIA – December 5, 2023 – Europacific Metals Inc (TSXV: EUP) (“ the Company ” or “ Europacific ”) is pleased to announce, that, subject to regulatory acceptance, it has completed the second tranche of the non-brokered private placement (the “Private Placement”) announced on October 17, 2023.

In this second tranche, the Company raised total gross proceeds of $62,500 by issuing 2,500,000 units of the Company at a purchase price of $0.025 per unit. Each unit consists of one common share of the Company and one common share purchase warrant, with each whole warrant being exercisable to acquire one additional common share of the Company at an exercise price of $0.05 per share for a term of two years from the date of issuance. The shares issued pursuant to the Private Placement will be subject to a statutory hold period of four months plus one day from the date of issuance. No insiders participated in this second tranche of the Private Placement and no finder’s fees are payable in connection with this Private Placement.

The proceeds from this financing will be used for initial project reconnaissance by the new CEO and general working capital purposes.

About Europacific Metals Inc.

Europacific Metals Inc. is a Canadian public company listed on TSXV and in US on OTCQB. The Company holds brownfield gold, and copper-gold projects located in Portugal. The Company is focused on exploration in highly prospective geological settings in Europe.

On behalf of the Board of Directors “Karim Rayani” President, CEO & Director

For further information please contact:

Europacific Metals Inc.

Mr. Karim Rayani, President, Chief Executive Officer & Director www.europacificmetals.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the exploration potential of the Company's properties. Generally forward-looking statements can be identified by the use of terminology such as “anticipate”, “will”, “expect”, “may”, “continue”, “could”, “estimate”, “forecast”, “plan”, “potential” and similar expressions. These forwardlooking statements involve risks and uncertainties relating to, among other things, results of future exploration and development activities, uninsured risks, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, changes in commodity prices and unanticipated environmental impacts on operations. Although the Company believes current conditions and expected future developments and other factors that have been considered are appropriate and that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct or enduring. Readers are cautioned not to place undue reliance on forward-looking information. The statements in this press release are made as of the date of this release. Except as required by law, the Company does not undertake any obligation to update publicly or to revise any forward-looking statements that are contained or incorporated in this press release. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES