Kiimala's Angesneva Deposit Adds 147,000oz Indicated Gold to Nordic's Portfolio

Strategic Acquisition Expands Nordic's Finnish Gold Footprint

Nordic Resources Ltd (ASX: NNL) has taken a major step forward in its Finnish gold exploration strategy by completing a detailed validation of the Kiimala Trend project, one of three gold assets it is acquiring from Swedish-listed Northgold AB. The highlight is the JORC (2012) compliant indicated resource at the Angesneva deposit, which now stands at 3.85 million tonnes grading 1.19 grams per tonne gold, equating to 147,000 ounces of gold.

This addition boosts Nordic's total gold equivalent resource inventory across the newly acquired projects, Kiimala Trend, Kopsa, and Hirsikangas, to nearly one million ounces (961,800oz AuEq), with a robust 74% of this in the measured and indicated categories. The Kopsa project remains the largest contributor with 814,800oz AuEq, including significant copper credits.

Geological Potential and Exploration Upside

Located within the Middle Ostrobothnia Gold Belt (MOGB) of central Finland, these projects sit in a geologically promising but relatively underexplored region compared to its Swedish counterpart. The Kiimala Trend hosts multiple gold prospects along a 15-kilometre corridor, with Angesneva being the most advanced. Importantly, the Angesneva deposit remains open at depth and along strike, with recent drilling intersecting thick, high-grade gold zones, including intervals exceeding 1.5 grams per tonne over more than 70 metres.

Nordic plans to initiate a drilling campaign in 2025 targeting prospective parallel structures near Angesneva and to upgrade the historical, non-JORC-compliant resource at the nearby Vesipera prospect. This approach underscores the company's commitment to unlocking further value from the Kiimala Trend and advancing these assets toward development.

Infrastructure and Processing Advantages

The projects benefit from proximity to existing processing facilities, notably the Pyhasalmi copper-zinc plant operated by First Quantum Minerals, located about 45 kilometres from Kopsa, and the Laiva gold processing plant, currently on care and maintenance but relatively modern. These nearby plants could offer cost-effective processing options, enhancing the economic potential of the deposits.

Preliminary metallurgical testing at Angesneva indicates that up to 85% of the gold is cyanide-leachable, a positive sign for conventional processing methods. While these results are preliminary, they provide a foundation for further metallurgical studies to optimize recovery.

Transaction and Next Steps

The acquisition of the three Finnish gold projects is subject to shareholder approval, with the general meeting scheduled ahead of an expected completion date on 4 June 2025. Nordic's Executive Director, Robert Wrixon, highlighted the immediate upside from the Angesneva resource and the strategic value added by its proximity to Kopsa, which supports regional development options.

Meanwhile, the review of the Hirsikangas project is ongoing, with efforts focused on validating and potentially upgrading its historical resource to JORC compliance. Nordic intends to update the market as this work progresses.

Overall, the acquisition and resource validation mark a significant milestone for Nordic Resources, positioning it as a notable player in Finland's emerging gold landscape with a near-term development pipeline and exploration upside.