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European Lithium Limited, formerly Paynes Find Gold Limited, is a mining exploration and development company. The Company is engaged in the lithium exploration and development in Austria. The Company owns the Wolfsberg lithium project, which is located in Carinthia, approximately 270 kilometers south of Vienna, Austria. The Company focuses on the development of the Wolfsberg Lithium Project, which is located approximately 20 kilometers east of Wolfsberg. The Wolfsberg Lithium Project includes approximately 22 original and over 32 overlapping exploration licenses, and a mining license in approximately 11 mining areas. It also holds interest in the Paynes Find Gold Prospect. Paynes Find is a gold producing region located approximately 420 kilometers Northeast of Perth, Western Australia. It holds interest in mineral tenements, including M59/2, M59/10, M59/235, M59/244, M59/396, M59/662, M59/663, P59/1907, P59/1908, P59/1909, P59/1924, P59/1941, P59/1942 and P59/1956.