Projects in northern Sweden

The four-hole diamond core drilling programme (989.9 metres) was fully reported on 31 August 2026. The first hole, GB202601, shows a continuous gold-bearing zone of 28.05 metres of drill length at 2.30 g/t Au, including an interval of 10.50 metres at 3.95 g/t Au. This is the same hole where visible gold was observed in May 2026 at a depth of 217.8 metres. The three remaining holes contain no continuous gold-bearing length; the zone remained open, and the Company then decided to drill two new diamond core holes towards it during the autumn of 2026. At the south-eastern target eleven gold-bearing boulders have been found at surface, the richest at 10.4 g/t Au. Previous permit holders have drilled more than 1,500 metres since 2007. Press release 31 August 2026 →

In the autumn of 2026 three diamond core holes totalling 845.1 metres were drilled from the same site, passing about 40 to 80 metres from GB202601. Field logging encountered mineralisation (skarn with pyrrhotite, arsenopyrite and copper sulphide) in all three holes, the most in GB202607 with three zones totalling 37.35 metres of drill length. The gold grade is unknown until the assays are available during the fourth quarter of 2026, and the observations have not yet been reviewed by the Company’s Competent Person. Press release 6 October 2026 →

In July 2026, the Mining Inspectorate of Sweden (Bergsstaten) granted the Company’s application to extend the project with the exploration permit Nya Gilleberget nr 102 (reg. no. BS 200-947-2026).

The Company’s prospectors Torbjörn Grahn and Ingemar Åslund identified glacial erratics outside Sollefteå with grades up to 6 g/t Au, as well as outcrops with grades up to 19 g/t Au. Five diamond core holes were drilled in early 2025, one of which showed a three-metre section grading 1.92 g/t Au. During the autumn of 2025, slingram surveys were begun to determine the placement of a continued drilling programme.

Part of the north-eastern Gold Line in the Kristineberg area. During 2026, 70 percussion drill holes were completed (extended from the 64 planned), finished in April 2026. The assay results, announced in July 2026, outlined two gold anomalies, one of them previously unknown, as targets for continued exploration. A denser follow-up percussion drilling programme is planned for the winter of 2026/2027 to pin down the source.

A coherent project area in the Sorsele district: the exploration permits Svergoträsk nr 2 and nr 3 together with Tjålmträsk nr 100. At Tjålmträsk, a glacial erratic with a gold grade of 350 grams per tonne has been found. A previous operator drilled a total of 38 holes in the early 2000s, of which 10 showed gold, but the boulders found cannot be explained by the mineralised areas identified. The Company plans to drill three diamond core holes during 2026 to find the source.

The Company already held Gubbträsk nr 101, covering 3,144 hectares in the municipalities of Storuman and Sorsele. On 11 September 2026 the Mining Inspectorate granted the adjoining permit Gubbträsk nr 102, covering 3,806 hectares (reference number BS 200-1064-2026), valid for three years.

The historical drilling in the area lies within the new permit. Of the 86 drill holes at Gubbträsk recorded in SGU's drill hole register, 84 lie within nr 102 and none within nr 101. The highest gold grade reported was 6 metres at 11.15 grams of gold per tonne, and approximately 4,000 metres of the drilling has never formed the basis of a published resource estimate.

The drill core is preserved in SGU's core archive in Malå. The Company's geologist is now going through it together with the logs and assay certificates. The aim is to be able to report a Mineral Resource for Gubbträsk under PERC.

A zinc base-metal showing. Two drill holes so far, one of which shows alteration similar to the Kristineberg ore, with streaks of zinc. At the centre of the area there is a 600-metre-long mineralisation previously estimated at 621,000 tonnes grading 2.8% Zn, 0.47% Cu and 28 ppm Ag by the State Mining Property Commission (Nämnden för Statens Gruvegendomar, NSG). Plan: borehole geophysics in one of the existing drill holes to search for larger mineralisation nearby.