Everclear Capital Closes $4 Million Financing & Provides An Update On The QT Closing And New Name


June 28, 2010

Everclear Capital Ltd. (TSX-V: EVA.P) “Everclear” or the “Company” announces that on June 22, 2010 it closed the financing in connection with the Qualifying Transaction (“QT”).

The financing was originally announced at $2.5 million but demand was strong and the Board agreed to increase the financing up to $4 million and it was closed at that amount. The financing was completed by way of an offering of subscription receipts issued at $0.35 per receipt. Each receipt will automatically convert into a Unit which consists of a common share and one half of a common share purchase warrant. Each whole warrant will allow the holder to purchase an additional common share at a price of $0.50 per share for a period of 18 months.

The funds from the financing will be held in trust by Everclear until such time as the QT is completed which is expected to be done within the next 30 days.

The 11,428,571 common shares issued for this financing are the only shares to be issued at the time of closing. Everclear will have a total of 14,478,571 common shares issued and outstanding at the time of closing. The common shares issued in the financing will have a 4 month hold period commencing on June 22, 2010. There are also 1,300,000 escrowed common shares that will be released over a three year period commencing on the date of the QT being completed - as to 10% on closing, and 15% every 6 months after that date.

Everclear is paying approximately $1 million on closing for the purchase price and various closing fees, including $183,859 finder’s fee and will have approximately $3 million available to advance its exploration projects in Portugal and Kosovo.

Update on the acquisition of MEAPA ( Portugal) and IEK (Kosovo)

Everclear is currently finalizing various documents required to complete the QT filings with the TSX Venture Exchange, including a Share Purchase Agreement, various employment contracts, an NI 43-101 compliant geological report on the Marateca project in Portugal, proforma financial statements in International Financial Reporting Standards format, and a Filing Statement. In addition, the Sponsor, Leede Financial Markets Inc., is in the process of completing their Sponsorship Report after having received drafts of these documents.

Upon final acceptance of these documents, the transaction will be closed and the Subscription Receipts will convert into the Units.

In addition, the name of the Company will be changed to Avrupa Minerals Ltd. and a new trading symbol will be announced. The new name “Avrupa” is a word meaning “ Europe” in several eastern European languages and reflects the geographical focus of the Company.

New advisors and management team members will also be announced shortly.

On behalf of the Board,

“Mark T. Brown”

Mark T. Brown CA
President & Director
604-687-3520

Neither 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.