European Minerals Corporation Announces the Issue of Shares Pursuant to Acquisition

    FOR:  EUROPEAN MINERALS CORPORATION

TSX SYMBOL:  EPM
AIM SYMBOL:  EUM

June 27, 2008

European Minerals Corporation Announces the Issue of Shares Pursuant to Acquisition

LONDON, UNITED KINGDOM--(Marketwire - June 27, 2008) - European Minerals Corporation ("EMC" or "the
Company") (name to be changed to Orsu Metals Corporation pending completion of filing procedures)
(TSX:EPM)(AIM:EUM) announces that further to the agreement pursuant to which EMC acquired all of the
outstanding common shares of Lero Gold Corporation ("Lero") in exchange for common shares of EMC, the
Company has issued 152,101,767 common shares of no par value. Under the agreement, Lero shareholders
received one common share of EMC for each one common share of Lero held.

Application has been made for these shares to be admitted to trading on AIM and it is expected that
admission will occur on 30 June 2008.

At the completion of announced business combination, Orsu has 456,709,227 common shares outstanding.


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FOR FURTHER INFORMATION PLEASE CONTACT:

European Minerals Corporation
Tania Tchedaeva
Company Secretary
[phone]

OR

European Minerals Corporation
Gavin Dallas
Investor Relations
[phone]
Website: www.orsumetals.com

OR

Grant Thornton UK LLP
Gerry Beaney/Colin Aaronson
[phone]

OR

Vanguard Shareholder Solutions
Keith Schaefer
[phone]

The TSX Exchange does not accept responsibility for the adequacy or accuracy of this release.


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European Minerals Corporation