May 11, 2022

Avrupa Minerals Announces Oversubscribed Private Placement

Vancouver, BC – TheNewswire – February 23, 2022 – Avrupa Minerals Ltd. (TSXV:AVU) (OTC: AVPMF) (FRANKFURT: 8am) (“Avrupa” or the “Company”) East pleased to announce that the funding announced on February 8, 2022 is oversubscribed and increased to $1,250,000. The Company will use the net proceeds of the Offering to finance the acquisition of four projects in Finland (see press release of December 20, 2021), exploration expenditures on the Company’s properties and for working capital.

Private placement

Subject to the approval of the TSX Venture Exchange (the “Exchange”), the Company now intends to complete the Offering by issuing 16,666,667 Units (each, a “Unit”) at a price of $0.075 per Unit.

Each Unit will consist of one common share in the capital of the Company and one common share purchase warrant (each, a “Warrant”). Each warrant will entitle its holder to purchase one additional common share of the Company at an exercise price of $0.125 per common share, for a period of 36 months from the closing date of the placement. Brokerage fees of 7.5% in cash and 7.5% in brokerage mandates may be paid to beneficiaries. Each warrant is exercisable into one common share at $0.075 for a period of 18 months.

The closing of the Offering is subject to all applicable regulatory approvals, including the approval of the Exchange. All securities are subject to a hold period of four months and one day in accordance with applicable securities laws.

Debt settlement

The Company intends to settle a debt of $285,000 through a debt-for-stock settlement (the “Debt Settlement”) to two insiders who deferred payment of salaries and expenses during years, and has financed approximately $56,000 of Society costs with cash loans.

The debt settlement has also been approved by the TSX Venture Exchange and will be completed shortly.

Avrupa Minerals Ltd. is a growth-oriented junior exploration and development company focused on the discovery of mineral deposits, utilizing a hybrid, insight-generating business model. The Company holds a 100% owned license in Portugal, the Alvalade VMS project, now optioned to Sandfire MATSA under a joint venture with participation agreement. Avrupa focuses its project generation work in politically stable and prospective regions of Europe, currently including Portugal and Kosovo. The Company continues to seek and develop other opportunities in Europe and is in the process of acquiring certain potential mining projects in Finland.

For more information, contact Avrupa Minerals Ltd. at 1-604-687-3520 or visit our website at www.avrupaminerals.com.

On behalf of the Council,

“Paul W. Kuhn”

Paul W. Kuhn, President and Director

This press release has been prepared by the management of the Company, which assumes full responsibility for its content. Paul W. Kuhn, President and Chief Executive Officer of Avrupa Minerals, Chartered Professional Geologist and Registered Member of the Society of Mining Engineers, is a Qualified Person within the meaning of National Instrument 43-101 of the Canadian Securities Administrators. It has reviewed the technical disclosure in this release. Mr. Kuhn, the qualified person, not only reviewed, but prepared and supervised the preparation or approval of the scientific and technical content of the press release.

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.