EUUNF Azarga Metals Corporation (PK)

European Uranium Resources Ltd. (EUU: TSX-V; (EUUNF:OTCQX; TGPN: Frankfurt) provides an update on the progress of work on its 100% held Kuriskova uranium deposit in Slovakia and its 100% held Asento exploration project in Finland.

The Company plans to complete a feasibility study on the Kuriskova project by the end of 2014 or possibly first quarter 2015. Before awarding the contract to conduct the study the Company has been continuing critical path work that will be needed to stay on this time line. In the first half of 2013 this work has comprised metallurgical test work and environmental and social programs including baseline data collection.

A drilling program for obtaining composite samples for metallurgical test work was completed in 2012 and composite samples from that program have been shipped for testing to AREVA’s laboratory facility at Bessines, France. The test work began in January 2013 as part of the Company’s pre-paid technical services agreement with AREVA. Testing is ongoing and all the results will be available for inclusion in the feasibility study. The Company’s environmental and social programs in Slovakia have an expanded focus on regional and local stakeholder engagement to continue to build support for the project and facilitate the permitting process.

The results of the NI 43-101 preliminary feasibility study completed in early 2012 demonstrate that the company’s Kuriskova project would be among the highest-grade and lowest cost uranium producers in the world. The study not only illustrates the robust economics of the Kuriskova project but also the competitive advantages it has over other uranium projects as a result of its high-grade resource and expected low operating costs. The study also indicates that Kuriskova could be built and operated using Best Available Technology with minimal surface footprint and environmental impact.

In early 2012, the Company acquired a portfolio of exploration licenses and applications for uranium projects in Finland and Sweden. In March 2013, the Company was awarded a three-year exploration license for the Asento (“10,000 Boulders”) project in north-central Finland covering 3,556.6 hectares. This is a new discovery where a large number of mineralized boulders have been identified and the project area is considered prospective for vein-style hydrothermal uranium deposits within Archean granites. Now that the exploration license has been granted the Company will begin planning a summer exploration program for this project.

Qualified Person

This release has been reviewed and approved for the Company by Dorian L. (Dusty) Nicol, President and CEO of the Company, and a Qualified Person as defined in NI 43-101.

About European Uranium Resources Ltd.

European Uranium Resources Ltd. is a dedicated European uranium exploration and development company that has built a portfolio of outstanding projects in Slovakia, Sweden and Finland at all stages of the exploration / development pipeline. European Uranium is well placed to become the key uranium exploration and development company in Europe. Europe is the world’s largest per capita consumer of uranium with 160 reactors and more under construction or planned, but with only one currently operating uranium mine. The Company’s Kuriskova Project in Slovakia could be one of the world’s lowest cost uranium producers. European Uranium has a strong base of supportive shareholders including AREVA, ranked first in the global nuclear power industry and a key player in uranium mining and nuclear operations on a world-wide basis.

EUROPEAN URANIUM RESOURCES LTD.

"Dusty Nicol"

Dorian L. (Dusty) Nicol, President and CEO

For further information please contact: Doris Meyer, at (604) 536-2711, or visit www.euresources.com.

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.

Cautionary Statement:

This news release contains forward-looking statements that are based on the Corporation's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Corporation disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

Azarga Metals (PK) (USOTC:EUUNF)
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