Alicanto Uncovers New High-Grade Targets in Sweden, Raises A$3M to Accelerate Growth

• Summer exploration identifies new copper, silver, and gold targets in Sweden
• Falun and Sala projects show high-grade rock chip and soil geochemistry results
• A$3 million raised via share placement to support exploration and working capital
• Active discussions underway for strategic partnerships and project acquisitions
• Cash position at $1.93 million as of September 30, 2025

Exploration Momentum in Bergslagen

Alicanto Minerals Ltd (ASX – AQI) has reported significant progress in its Swedish exploration campaign, completing a regional summer field program that has expanded the portfolio of copper, silver, and gold targets. The company’s focus remains on its flagship Falun and Sala projects, both situated in the prolific Bergslagen mining district, renowned for its historic and world-class mineral deposits.

The Falun Project, encompassing the historic Falun mine which ceased operations in 1992, continues to reveal promising mineralisation beyond the known resource. Alicanto’s recent drilling and surface sampling have highlighted multiple high-priority targets, including notable copper and zinc intersections that suggest a larger mineralised system than previously understood. The Greater Falun tenements, bolstered by recent acquisitions, have delivered exceptional rock chip assays such as 9,200g/t silver and 8.58% zinc, underscoring the unexplored potential in the region.

Sala Project – Building on a Historic Silver Legacy

At the Sala Project, Alicanto is advancing exploration on a polymetallic skarn system with a JORC-compliant inferred resource of 9.7 million tonnes at 214g/t silver equivalent, equating to 66 million ounces of silver equivalent. The project lies within a historic silver district that produced over 200 million ounces of silver at exceptionally high grades. Recent rock chip sampling north of the historic mine returned encouraging gold and silver values, prompting plans for further detailed mapping and sampling.

Strategic Partnerships and Capital Raising

Parallel to exploration, Alicanto is actively engaging with potential strategic partners to accelerate systematic exploration and development of its Swedish assets. The company aims to leverage its technical expertise and corporate experience shared with related ASX-listed entities such as FireFly Metals and Andean Silver, which have demonstrated successful project advancement.

To underpin these initiatives, Alicanto completed a well-supported share placement in October 2025, raising approximately A$3 million at a modest discount to market prices. The capital injection is earmarked for ongoing exploration at Falun and Sala, evaluation of acquisition opportunities, and general working capital. Despite the capital raise, Alicanto’s cash reserves stood at $1.93 million at the end of September, reflecting prudent financial management amid active exploration.

Outlook and Next Steps

Alicanto’s methodical approach to exploration, combined with its strategic land acquisitions and early-stage geochemical results, positions the company well to unlock value in these tier-one Swedish mining districts. The upcoming months will be critical as the company follows up on promising targets with further sampling, assays, and potentially drilling, while advancing partnership discussions that could provide additional resources and expertise.

Bottom Line?

With fresh capital and a growing pipeline of high-grade targets, Alicanto is poised to deepen its footprint in Sweden’s mining heartland, but the path to resource definition and development remains a key watchpoint.

Questions in the middle?

• How will Alicanto’s strategic partnerships influence the pace and scale of exploration?
• What are the timelines and expected outcomes for follow-up drilling at Falun and Sala?
• Could further acquisitions materially change Alicanto’s resource base or project pipeline?