TSX.V: AVU

FRANKFURT: 8AM

European Prospect

Generator

TSX.V: AVU 2

Some of the statements contained in this presentation are forward-looking statements. Forward-

looking statements are not historical facts and are subject to a number of risks and uncertainties

beyond the Company's control, including, but not exclusively, statements regarding potential

mineralization, exploration results, completion of work program and studies, and future plans and

objectives of the Company. Resource exploration, development and operations are highly

speculative, characterized by a number of significant risks, which even a combination of careful

evaluation, experience and knowledge may not eliminate, including, among other things,

unprofitable efforts resulting not only from the failure to discover mineral resources but from finding

mineral deposits which, though present, are insufficient in quantity and quality to return a profit from

production. This presentation does not constitute an offer of the securities described herein.

Qualified Person: Mr. Paul W. Kuhn, M.S., C.P.G., has acted as the qualified person as defined in

National Instrument 43-101 for this disclosure and supervised the preparation of the technical

information in this release.

Forward Looking Statements

TSX.V: AVU 3

Non-compliant Resource Disclaimer

The resource estimates below, and further referenced in this presentation, are historical in nature and were compiled prior to

National Instrument 43-101. “Indicated resources” and “inferred resources” are historical categories that do not correspond

to CIM categories of reserves and may not correspond to CIM categories of resources. A qualified person has not done

sufficient work to classify the historical estimates as current mineral resources or mineral reserves. The Company is not

relying on these estimates as a current mineral resource estimate. Their relevance is limited to indication of the exploration

potential of the properties and in planning the ongoing exploration on the properties. Additional drilling and data analysis is

required to upgrade or verify the historical estimates as a current mineral resource estimates.

Covas

Historical “mineral resources” were estimated by Union Carbide Corporation in 1980 for eight separate mineralized bodies,

and were reported as 689,900 metric tonnes of “indicated resource”, averaging 0.86% WO3 and 233,100 metric tonnes of

“inferred resource”, averaging 0.56% WO3. The estimates were corroborated by Dr. João Farinha for the Portuguese

government and for Union Carbide in 1981. Previous operators drilled nearly 27,000 meters in 327 drill holes, and based on

this drilling, Union Carbide, the last major explorer in the district, developed a non - NI 43-101 – compliant combined

indicated + inferred mineral resource of 922,900 metric tonnes @ 0.78% WO3 at Covas. Information about the historic

Covas tungsten mineral resource comes from the NI 43-101 technical report, entitled “Covas Tungsten Deposit”, written for

Wega Mining ASA (Oslo, Norway) by B. J. Price, P. Geo., in June 2007, and subsequently upgraded for Blackheath

Resources Inc., by B. J. Price, P. Geo., in July 2011. The Company has not completed sufficient work to validate the

information and is not relying on these estimates as a current mineral resource estimate.

TSX.V: AVU 4

• Avrupa Minerals is a Prospect Generator

• We generate new projects with early-stage reconnaissance exploration programs

• We work in Europe

• Old established mining districts with new ideas and expertise

• Variety of metals – gold, silver, copper, lead, zinc, tungsten

• Stable politics and mining laws

• We are successful explorationists – discoveries in Europe, Asia, Africa, N.

America

• We seek partners for strategic alliances and/or project-specific JV’s

Business Model

• Financing w/o having to often go to the market = tight share structure!

• For every C$ raised in the market, we can spend C$1.5 on exploration

• Listed on the Toronto Venture Exchange: AVU.V

• Listed on the Frankfurt Stock Exchange: 8AM

TSX.V: AVU 5

Business Model -- Results

Three joint ventures, one exploration alliance in Portugal

• One JV in the Iberian Pyrite Belt (IPB) with Antofagasta Minerals

• IPB is a giant massive sulfide belt over 200 km long

• Contains over +85 known deposits and close to 2 billion tonnes contained metal sulfides

• 7 deposits larger than 100 million tonnes

• Last major discoveries were Neves Corvo and Las Cruces (in the 1980’s and 1990’s)

• Two JV’s in the North Portugal tungsten-gold belt with Blackheath Resources

• Historic tungsten producing belt, several historic gold producers

• No previous history of gold exploration, even though tungsten can be a pathfinder for gold!!

• One generative exploration alliance covering all of Portugal with Callinan

Royalties, and one active «alliance property»

• Two projects nearing JV-ready status

• Marateca covers Pyrite Belt massive sulfide targets

• Alvito covers an iron oxide-copper-gold target, an epithermal precious metal target, others

Joint venture terms sheet signed for Slivovo in Kosovo

TSX.V: AVU 6

Projects in Europe

Portugal areas of interest

• Pyrite Belt (Cu-Zn)

• N. Portugal Tungsten District (W-Au)

• Ossa Morena Zone (Iron Oxide Cu-Au)

Kosovo licenses

• Vardar Mineral Belt (Ag-Pb-Zn)

• Sharr-Dragesh intrusive complex (Cu-Au)

Germany license

• Erzgebirge District (Au-Sn-W)

North Portugal

Covas JV (W–Au)

Arga JV (Au)

Sabroso (Au-W)

Arcas (Au-W)

Candedo (Au-W)

Kosovo

Glavej (Ag-Pb-Zn) Kamenica (Ag-Pb-Zn) Selac (Ag-Pb-Zn) Koritnik (Cu-Au) Slivovo (Ag-Pb-Zn-Au)

Germany

Erzgebirge JV (Au-W)

South Portugal

Alvalade JV (Cu-Zn)

Sines (Cu-Zn)

Alvito (IOCG Cu-Au)

Marateca (Cu-Zn)

TSX.V: AVU 7

Project Generation in Portugal

9 licenses: 2,980 km2

2 licenses to be issued: ~1,130 km2

3 Joint Ventures:

Alvalade JV (Antofagasta Minerals)

Covas JV (Blackheath Resources)

Arga JV (Blackheath Resources)

1 Exploration Alliance (Callinan Royalties)

includes Alvito alliance property

Caveira Mine, Alvalade JV

TSX.V: AVU 8

Project Generation in Portugal

Why Portugal

• The Iberian Pyrite Belt is ELEPHANT country

• No real exploration since the mid 1990’s

• Last major discovery in Portugal was Neves Corvo in 1977

• Last discoveries in Spain were Aguas Tenidas in 1980; Las Cruces in 1994

• Previous exploration relied on misunderstood/misinterpreted geophysical data

and hand-me-down geology

• Challenging geological conditions scared explorationists away

• But, lots of available hard data, regional surveys, core, sample pulps

• Ready for new ideas, techniques, and basic geologic re-interpretation

• Repeat for North Portugal

TSX.V: AVU

Iberian Pyrite Belt

Producing Mine

Past Producer

Known Deposit

Rail Line

Lisbon

Setubal

Sines

Odemira

Faro

Huelva

Sevilla

Aracena

Beja

Badajoz

Madrid

Sevilla

Lisbon

50 km

Lousal

Aljustrel S. Domingo

La Zarza

Los Frailes Anzalcollar

Aguas Tenidas

Sotiel

Rio Tinto

Las Cruces

S. Telmo

Lagoa Salgada

Caveira

Neves Corvo

SPAIN

PO

RT

UG

AL

Tharsis

Pyrite Belt – Mines and deposits

• Las Cruces produced 67,700 mt

of copper in 2012

• Aguas Tenidas produced 126,200 mt

of copper in 2012

• Neves Corvo produced 88,600 mt

of copper and zinc in 2012

Remember: more than 85 known deposits and 2 billion mt

of contained metal sulfides

TSX.V: AVU 10

What we’ve done at Alvalade

• Came up with a new geological model to drive exploration

• Re-logged 50,000 meters of available core and collected more than 5,500

samples of all types

• Compiled, reviewed, and re-interpreted regional gravity and magnetics data

• Compiled and reviewed all geochemical data

• Re-mapped all available outcrops on and adjacent to the license block and re-

designed the structural interpretation of the region in order to put it all back

together

• Used package GIS software to put it all into one place

• Drilled 24 holes, almost 11,000 meters, «the other way»

• Discovered stockwork copper mineralization in at least 4 separate areas

• Using the acquired knowledge to better aim for «the big one» at Alvalade and

at our other Pyrite Belt licenses

• Started Phase 4 drilling program – 3,500 meters planned

Pyrite Belt – Alvalade JV

TSX.V: AVU 11

Pyrite Belt – Alvalade JV

TSX.V: AVU 12

Marateca, Pyrite Belt

• New understanding of regional geology and structure, gained from work

on Alvalade JV, leads to more exciting targets at Marateca

• 2 massive sulfide targets remain virtually untested at São Martinho and

Volta

• Total of 12 known target areas on license, with the right target geology

• Previously undocumented gossan zone discovered at Pego do Altar target

area – up to 1000 meters of outcropping length

• Copper mineralization discovered at surface at Cordoeira target area, and

at Pego do Altar; second gossan zone discovered

• Plans for further upgrade to JV-ready

• Search for JV partner underway

Potential for more elephants

TSX.V: AVU 13

12 mostly untested target areas at Marateca and adjacent Alvito (Avrupa drill locations in purple)

Next for JV – Marateca (copper-zinc)

TSX.V: AVU 14

Alvito, Ossa Morena Zone

• 1000 square kilometer property – virtually unexplored

• Pyrite Belt targets in the NW 1/4 – adjacent to Marateca

• Potential for large iron oxide copper-gold (IOCG); porphyry Cu-Au; epi-

thermal precious metals; and massive sulfide systems

• Over 55,000 soil samples collected by geological survey and analyzed for

copper and zinc, only

• 20-25 km long copper-zinc anomaly identified by sampling

• Copper-gold mineralization identified on surface

• Plans for further upgrade to JV-ready, with alliance funding from Callinan

Royalties

• Search for JV partner underway

Potential for more elephants

TSX.V: AVU 15

Next for JV – Alvito (copper-zinc)

Alvito license, adjacent to Marateca: Ossa Morena targets in purple

areas; Pyrite Belt targets straddle Alvito and Marateca licenses.

TSX.V: AVU 16

Next for JV -- Alvito (copper-gold)

Copper anomalism in soil samples on Alvito license: NW-trending zone is

nearly 25 km long and 3-4 km wide.

TSX.V: AVU 17

Zinc anomalism in soil samples on Alvito license: NW-trending zone is more

spread out than copper anomalism and may delineate additional targets

Next for JV -- Alvito (copper-gold)

TSX.V: AVU 18

First-pass prospecting targets on/near the Alvito license

Next for JV -- Alvito (copper-gold)

TSX.V: AVU 19

Covas Tungsten District – NW Portugal

Covas Tungsten District – previous work

• Previous operators mined 366,000 mt @

0.61% WO3

• Union Carbide estimated mineral resources of

922,900 metric tonnes @ 0.78% WO3 ( non –

NI-43-101 – compliant: Please see disclaimer

on Slide 3)

• 329 drill holes, ~27,000 meters total historic

drilling in Skarn Ring

• Only 40% of Skarn Ring tested

• Virtually no exploration in Covas Dome

TSX.V: AVU 20

COVAS JV

• Partner is Blackheath Resources

• Management experience at Panasquiera tungsten mine with Primary Metals

in 2003-2007 – monetized huge profits in sale to Sojitz Corp

• Do it again at Covas!

PROGRESS

• Phase 1 drilling completed: 15 holes and 1,606 meters drilled

• Good drilling results confirmed and extended mineralization at Telheira, Lapa

Grande, and Castelo deposits

• Phase 2 drilling ongoing: 14 holes and 1,016 meters completed already

• May drill up to 1,500 meters

• Targeting expansion of known resources in five areas and exploration/

confirmation of mineralization in at least three other areas

• Results pending

Covas JV (tungsten-gold)

TSX.V: AVU 21

Gold -- Tungsten soil anomalies and Tungsten in stream anomalies at Covas

Covas JV (tungsten-gold)

TSX.V: AVU 22

Exploration in North Portugal (gold)

JV and exploration licenses

Arcas, Candedo, and Sabroso licenses

• Developing N. Portugal tungsten-gold belt

• Using tungsten as a pathfinder to gold –

NEW IDEA for district

• Potential for district-scale exploration alliance

Arga JV

• Outlined gold-tungsten targets along wide

structural zone

TSX.V: AVU 23

Projects in Europe

Portugal areas of interest

• Pyrite Belt (Cu-Zn)

• N. Portugal Tungsten District (W-Au)

• Ossa Morena Zone (Iron Oxide Cu-Au)

Kosovo licenses

• Vardar Mineral Belt (Ag-Pb-Zn)

• Sharr-Dragesh intrusive complex (Cu-Au)

Germany license

• Erzgebirge District (Au-Sn-W)

North Portugal

Covas JV (W–Au)

Arga JV (Au)

Sabroso (Au-W)

Arcas (Au-W)

Candedo (Au-W)

Kosovo

Glavej (Ag-Pb-Zn) Kamenica (Ag-Pb-Zn) Selac (Ag-Pb-Zn) Koritnik (Cu-Au) Slivovo (Ag-Pb-Zn-Au)

Germany

Erzgebirge JV (Au-W)

South Portugal

Alvalade JV (Cu-Zn)

Sines (Cu-Zn)

Alvito (IOCG Cu-Au)

Marateca (Cu-Zn)

TSX.V: AVU 24

Germany -- Erzgebirge Exploration (Au)

• Oelsnitz license covers Au, Mo, W, As and geological anomalies delineated by

Beak’s proprietary GIS application

• New model for district Reduced intrusion-related gold systems

• Targeting similar to Tintina Gold Province (Fort Knox, Ryan Lode, Brewery Creek)

Worldwide belts of reduced intrusion-related gold deposits – from C.J.R. Hart, 2007

Northern Portugal

Erzgebirge license

TSX.V: AVU 25

Old mining district – NEW IDEA

• Explored and mined for tin, base metals,

silver, fluorite, uranium for 900 years

• Never explored for gold, but same style of

geology as in northern Portugal, Tintina

Gold District

• Partner, Beak Consultants, acquired and

compiled 900 years of data

• Discovered map of weekend gold panning

locations – we know there is gold potential

• Tin potential

• Anomaly follow-up planned for spring season

• Search for JV partner will start

Project Generation in the Erzgebirge

TSX.V: AVU 26

Projects in Europe

Portugal areas of interest

• Pyrite Belt (Cu-Zn)

• N. Portugal Tungsten District (W-Au)

• Ossa Morena Zone (Iron Oxide Cu-Au)

Kosovo licenses

• Vardar Mineral Belt (Ag-Pb-Zn)

• Sharr-Dragesh intrusive complex (Cu-Au)

Germany license

• Erzgebirge District (Au-Sn-W)

North Portugal

Covas JV (W–Au)

Arga JV (Au)

Sabroso (Au-W)

Arcas (Au-W)

Candedo (Au-W)

Kosovo

Glavej (Ag-Pb-Zn) Kamenica (Ag-Pb-Zn) Selac (Ag-Pb-Zn) Koritnik (Cu-Au) Slivovo (Ag-Pb-Zn-Au)

Germany

Erzgebirge JV (Au-W)

South Portugal

Alvalade JV (Cu-Zn)

Sines (Cu-Zn)

Alvito (Porphyry Cu)

Marateca (Cu-Zn)

TSX.V: AVU 27

5 licenses: 153 km2

• 2 in northern Vardar Zone

• 2 in southern Vardar Zone

• 1 in Sharr-Dragash intrusion complex

Slivovo discovery

• Gold-bearing gossan

• Strong gold anomaly related to felsic dike

• Widespread iron oxide alteration

Kamenica project area

Project Generation in Kosovo

TSX.V: AVU 28

Project Generation in Kosovo

Why Kosovo

• Long metals mining history from productive belts – mining since Roman

times for gold, silver, base metals

• Mineralization everywhere, including world-class Stan Terg Ag-Pb-Zn mine

• Proximity to discoveries in Serbia – Avala Resources, Dundee Precious

Metals, Reservoir Minerals, Freeport Copper and Gold

• No recent exploration (for at least 50 years!!)

• New geological ideas, deposit models

• Exploration potential for porphyry deposits, gold -- never been done before

• Plenty of room for field exploration => Slivovo discovery

• See “Why Portugal”

TSX.V: AVU 29

Vardar Zone – Slivovo gossan discovery

Slivovo License (15.14 km2)

• Acquired Q2 2012, as a result of GIS-based generative program, using new

regional geological ideas and basic field work

• Discovered a gold-bearing gossan zone at/near the intersection of NNW-trending

Vardar fault and NE-trending caldera migration zone

• Strong gold anomalies, possibly related to felsic dike and surrounding strong iron

oxide altered silt and sandstone beds

• Signed JV terms sheet with Australian contract miner, Byrnecut International

Potential mineralization at Slivovo Pester gold target at Slivovo

TSX.V: AVU 30

Directors and Officers

Paul W. Kuhn – Director, President and CEO

• 35 years exploration experience in North America, Turkey, Central, Asia, and Europe

• Gold and base metal discoveries in Turkey

Mark Brown – Director

• President, Pacific Opportunity Capital, a financial consulting firm

• Previously at PriceWaterhouseCoopers, Miramar, and Eldorado

• Founder of Rare Element Resources, raised a total of C$ 70 million, to date, for the

company

Ross Stringer – Director

• Chartered Accountant with extensive experience in the financial services industry

• Expertise includes advisory and risk-based assurance services at operational and

governance levels

Paul Dircksen – Director • President and CEO, Timberline Resources

• +35 years of leadership in exploration and project evaluation

• Involved in nine gold discoveries, seven became operating mines

Winnie Wong – CFO

• VP, Pacific Opportunity Capital, a financial consulting firm

• CFO of other publicly listed companies on the TSX Venture Exchange

TSX.V: AVU 31

Experienced Management Team

Paul Kuhn – President and CEO

Winnie Wong – CFO

Adriano Barros – General Manager MAEPA sub, Portugal

• +40 years discovery-oriented prospecting and management in Portugal

• Brought Neves Corvo and Aljustrel Mines into Eurozinc (now Lundin Mining)

Paul I. Nelles – Managing Director IEK sub, Kosovo

• +40 years worldwide experience in metals exploration management and production

• Previously Deputy Managing Director of Kosovo Trust Agency and Trepça Manager,

United Nations Mission in Kosovo (UNMIK)

Michael Diehl – Chief Geologist, Kosovo

• +35 years exploration and discovery experience in Europe and southern Africa

• Previously Chief Geologist at Trepça Mines – responsible for regional and mine

exploration and company-wide resource management

Bryan MacFarlane – Project Manager, Alvalade JV

• Project exploration experience in the US, Mexico, Portugal, and Kosovo

• M.S., Structural Geology, Arizona State University

TSX.V: AVU 32

Share Structure – Summary

Tightly held share structure (as of 12/31/2013)

Available cash on hand (as of 12/31/2013)

• 38.5 million shares outstanding

• 65.0 million shares outstanding, fully diluted

• 46% of shares held by insiders, family, and friends

• Approximately uncommitted C$ 436,000 on hand (consolidated Canada and Europe)

• Approximately C$ 6.9 million fully diluted, when options and warrants are exercised

Share price (as of 12/31/2013) • AVU -- TSX-V: C$ 0.075

• 52-week high/low: C$ 0.165/C$ 0.035

Cash from JV’s and Operating Partners, total (as of 12/31/2013)

• Antofagasta has advanced US$ 4,564,000 to Avrupa since the beginning of work in 2011

for work at Alvalade. Antofagasta vested at 51% by spending US$ 4.3 million.

• Blackheath has advanced € 1,019,190 to Avrupa since the beginning of work at Covas in

2011, and has vested at 70%.

• Blackheath has advanced € 60,000 to Avrupa since the beginning of work at Arga in

2013, and can vest at 51% by spending a cumulative €200,000 by March 23, 2015.

• Callinan has advanced C$ 150,000 to Avrupa as part of the Exploration Alliance Program

in 2013 (potential additional funding of $100,000 in each of the next two years).

• Callinan has also advanced C$ 150,000 to explore the Alvito license in return for a 1.5%

NSR at Alvito.

TSX.V: AVU 33

Stock Price Chart

Courtesy of Stockwatch.com

TSX.V: AVU 34

WHY INVEST IN AVRUPA!!

Exciting projects in Portugal

• Alvalade JV with Antofagasta Minerals in the Pyrite Belt

• Covas and Arga JV’s with Blackheath Resources in the N. Portugal Tungsten Belt

• Alvito IOCG-porphyry Cu-Au project – at least 16 target areas defined

• Marateca Pyrite Belt massive sulfide targets

• New licenses coming in the Pyrite Belt

Solid progress in Kosovo

• Strong anomalism on new Slivovo project

• Gold in sedimentary units at Slivovo

• Outcropping polymetallic gossan zone

• JV term sheet signed with Byrnecut International

New ideas – Germany and other parts of Europe

Tight share structure, ability to fund in difficult times

Strong, experienced, and successful management Lousal Mine, Alvalade JV