Western Tethyan Resources Ltd (the “Company” or “WTR”) is pleased to announce that it has
successfully completed the first Earn-In work expenditures totaling €800,000 under the option
agreement with Avrupa Minerals Ltd (Slivova Agreement), dated September 7, 2022. As a result, WTR
has acquired a 51% interest in the Slivova Gold Project in Kosovo through the acquisition of shares in the
holding company AVU Kosova.

In accordance with the terms of the Slivova Agreement, the company has the opportunity to acquire an
additional 34% interest in the project by investing an additional €1 million in work expenditures and
completing the ESIA, feasibility study and mining license application.

1. Agreement Highlights:
   o After completion of phase One, during the third year from the Effective Date, (2025) or Phase
   Two, WTR will invest Euro 1,000,000 for JORC compliant resource estimation, commencement
   of full Environmental Impact Statement (“EIS”), for 75% of the project.
   o During Phase Three, the fourth and fifth year from the Effective Date, (2026-2027) WTR must
   complete the EIS, Feasibility Study (“FS”), and Mining License application, for 85% of the Project.
   o During Phase Four:
   o WTR completes success payments to previous JV partner, Byrnecut International Ltd.
   accordingly:
   o Euro 125,000 in cash within 30 days of the first to occur of: 1) Completion of a positive
   FS (minimum 15% IRR) or; 2) Avrupa or related party making a decision to proceed with
   development of a mining operation within the license area;
   o Euro 125,000 within 30 days of issuance of a mining license for the Project, and
   o Euro 125,000 within 30 days of commencement of mine construction within the license
   area;
   o 100 troy ounces of gold within 30 days of commencement of commercial production
   (“CCP”), then increasing by 75 troy ounces per year until and including the third
   anniversary of commercial production when 325 troy ounces will be delivered.

o During Phase Five Avrupa Minerals participate on the mine build or dilutes to 1% NSR