Northgold AB announced additional resource expansion diamond drilling ("DD") results from its completed 2022 DD program across its 100%-owned Kopsa and Kiimala Trend projects in central Finland. Company announced gold assays represent another five drill holes from Kopsa that targeted along-strike extensions to gold and copper mineralization up to 60 metres ("m") west of the existing deposit. All five drill holes encountered significant gold mineralization (with copper assays pending) aimed at being incorporated to mineral resources.

Highlighted gold assays from drill hole NGKOP22011 (copper assays are still pending) include: 1.23 grams per tonne ("g/t") gold ("Au") over 14.6m from 74m depth along hole (54.1m vertical depth), including: 2.58 g/t Au over 4.75m from 78.65m (57.5m vertical). Highlighted gold assays from drill hole NGKOP22012 (copper assays are still pending) include: 0.73 g/t Au over 8.8m from 7.2m (5.3m vertical), including 1.75 g/t Au over 2.8m from 7.2m (5.3m vertical). Highlighted gold assays from drill hole NGKOP22013 (copper assays are still pending) include: 0.60 g/t over 29.6m from 11.1m (8.1m vertical), including 1.18 g/t Au over 10.3m from 26.8m (19.6m vertical), and 0.53 g/t Au over 19m from 55.4m (40.5m vertical), including 4.10 g/t Au over 1.1m from 57.8m (42.3m vertical).

Highlighted gold assays from drill hole NGKOP22019 (copper assays are still pending) include: 0.62 g/t over 79m from 14m (10.2m vertical), including 1.05 g/t Au over 34.4m from 15m (19.6m vertical), which includes 2.21 g/t Au over 6.95m from 36.55m (26.7m vertical). Highlighted gold assays from drill hole NGKOP22020 (copper assays are still pending) include: 0.63 g/t over 54.9m from 23m (16.8m vertical), including 1.02 g/t Au over 19.35m from 42.2m (11m vertical), and including 2.35 g/t Au over 1.3m from 76.6m (56.0m vertical), and. These five drill holes were located up to 60m west of the limit of historic drilling and all successfully intercepted continuations of gold mineralization, thereby extending the length of the deposit along strike to the west.

All five drill holes encountered broad intervals (ranging from 9.8 to 79m wide along- hole) of low-grade gold mineralization (0.60 to 1.23 g/t Au) beginning from shallow to moderately shallow depths (from 5.3 to 54.1m vertical), which should help grow gold mineral resources either by expanding previously defined mineralized zones or by infilling of zones previously defined as waste rock. Notable apparent expansions to gold mineralization include in drill holes NGKOP22019 and NGKOP22020 which were drilled from south of the western end of the existing resource outline and which encountered substantial gold mineralization up to roughly 40m south and up to roughly 40m above the previously understood generalized envelope of gold and copper mineralization, and in drill holes NGKOP22011 and NGKOP22012 which were drilled north of the western end of the existing resource outline and which encountered a northern up-dip continuation of the previously defined mineralized zones as well as discovered a new possible parallel zone below the existing deposit that may require future follow-up. Narrower, higher-grade intervals from deeper, moderate depths were also encountered in four of the five drill holes (ranging from 2.21 to 4.1 g/t Au over 1.1 to 6.95m along-hole, beginning from 26.7 to 57.5m vertical), which continue to suggest possible future underground potential, pending further study and future drilling.

Recall, this deeper, higher-grade potential was also reflected in recently reported 2022 drill holes located along the south edge of the deposit as well as in those located in more central portions of the deposit. The completed 2022 DD program included 4,241 m at the flagship Kopsa project. Including today's announced five holes, gold assays have now been reported for 18 drill holes and are pending on the remaining seven drill holes (in addition to the deeper portion of hole NGKOP22010).

Copper assays are pending on all 25 holes. Additional assay results from Kopsa are due to be announced in the coming weeks, as they are received from the assay lab and processed. Kopsa 2022 drill results will culminate to an interim updated resource estimate, which is scheduled to be completed during the first and second quarters of 2023, with results due to be released before the end of the second quarter of 2023.

The DD program also included another five DD holes totalling 695 m at Pirttineva (totalling 4,936m drilled company-wide during 2022), a previously un-drilled prospect at the Kiimala Trend project that looked promising based on a recently completed Induced Polarization (IP) geophysical survey and outcrop samples, with assays pending and due to be announced in the coming weeks, as they are received from the assay lab and processed. Multiple sulfide-bearing zones were observed in portions of the Pirttineva core. Planning is ongoing for the Company's fully-funded 3,000m 2023 diamond drilling program that will be aimed at continued resource growth and new discoveries, and will once again incorporate both Kopsa and Kiimala Trend projects.

The drill program is set to begin late in the first quarter of 2023, with further details on plans to be announced in the coming weeks, pending the ongoing and incoming assay results, and based on the results of additional Induced Polarization (IP) geophysical surveys that are being completed across additional southern portions of Kiimala Trend.