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Avrupa Minerals Ltd
Symbol AVU
Shares Issued 74,248,797
Close 2017-01-17 C$ 0.125
Market Cap C$ 9,281,100
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Avrupa aims to finish Kosovo, Portugal fieldwork 2017

2017-01-17 12:45 ET - News Release

Mr. Paul Kuhn reports

AVRUPA MINERALS PROVIDES REVIEW OF 2016 AND PLANS FOR 2017

Avrupa Minerals Ltd. has provided an overview of the company's progress during 2016 and an outline of planned activities for 2017. Base metal prices increased across the board, making Avrupa's copper and zinc projects in southern Portugal more attractive for potential joint venture in 2017. The company was successful in 2016, delivering a number of positive milestones while advancing several projects.

Plans for 2017:

  • Complete fieldwork on one project in Kosovo and two in Portugal to prepare them for potential JV partners;
  • Acquire new projects in Portugal and Kosovo, and possibly Morocco;
  • Continue to advance the Covas JV's tungsten project with partner Blackheath Resources by way of further drilling on several prospects, environmental assessment work and additional metallurgical testing;
  • Amend the Alvalade JV situation to allow Avrupa to work the project itself or with an active partner, and advance the successful exploration work from 2014 and 2015;
  • Option out the Alvito project to a new partner;
  • Option out the Marateca project to a new partner;
  • Continue working with the company's partner on the Slivovo gold project in Kosovo to expand the gold resource by way of additional exploration drilling.

Following is a list of the company's program accomplishments during 2016.

Kosovo projects:

  • Slivovo gold project study delivered by JV partner;
  • Initiated detailed soil sampling program on the Metovit licence in Kosovo. Geochemical analyses are under way.

Portugal projects:

  • Advanced drill targeting at the Chanca prospect on the Mertola zinc-copper project in Portugal;
  • Completed scout drilling at the Pego do Altar gossan prospect on the Marateca zinc-copper project in Portugal. Sulphide mineralization, mostly pyrite plus or minus chalcopyrite and sphalerite, continues downdip and appears to be remobilized pyrite belt mineralization. Geological logging and sampling are under way;
  • Initiated discussions with a third party on a potential new joint venture in Portugal;
  • Advanced the Covas JV through first-pass environmental review and first-pass metallurgical testing of the tungsten-bearing Covas mineralization in northern Portugal;
  • Maintained the validity of the Alvalade copper-zinc licence while joint venture partner was unable to finance work commitments;
  • Applied for two new zinc-copper licences in the pyrite belt in southern Portugal.

Other projects:

  • Reviewed copper and gold opportunities in Morocco and elsewhere around Europe;
  • Successfully raised $2,016,200 from a private placement in July and exercise of warrants in September.

Avrupa's president and chief executive officer, Paul Kuhn, commented: "We are encouraged by the progress our team made during 2016, even as the junior resource markets remained difficult for exploration companies. We made positive advancement on our non-JV'd projects in Portugal while maintaining the status quo for the JV programs in preparation for a strong 2017 in both Portugal and Kosovo. We are well positioned to form new JVs in Portugal, and we expect to be able to restart the work programs at Covas and Alvalade during Q1/Q2 of 2017. We expect to utilize our deep knowledge in Kosovo to reinitiate an already-successful generative exploration program around that country during the coming year."

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.

Mr. Kuhn, a licensed professional geologist and a registered member of the Society of Mining Engineers, is a qualified person as defined by National Instrument 43-101 of the Canadian Securities Administrators. 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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