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.TO)(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.

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

Contacts

Tania Tchedaeva
European Minerals Corporation
Company Secretary
+44 (0) 20 7518 3999

Gavin Dallas
European Minerals Corporation
Investor Relations
+44 (0) 20 7518 3999
Website: www.orsumetals.com

Gerry Beaney/Colin Aaronson
Grant Thornton UK LLP
+44 (0) 20 7383 5100

Keith Schaefer
Vanguard Shareholder Solutions
(604) 608-0824