Northgold AB announced drill core observations from its flagship Kopsa gold and copper project in Central Finland, from its recently completed 2023 drill program of 2,300m. While grades have yet to be confirmed from laboratory assay results that are still pending, visual logging of the drill core from the deep southern extension hole NGKOP23034 indicates substantial similarities to certain previously reported high-grade intervals from last year's 5,000m drill program. Additional information on drill core observations Drill hole NGKOP23034 was the deepest hole completed in the 2023 drill program which tested an extension of the main gold and copper mineralized zone, to extend it by approximately 150m along the dip of the main zone, to a vertical depth of up to 275m.

The vertical depth extent of the 2023 resource estimate in this central portion of the deposit was much shallower at approximately 125m. The relatively intense observed quartz veining and/or silicic alteration with sulfide mineralization in drill hole NGKOP22034 occurred between depths of approximately 209m and 237m along hole (between 153m and 173m vertical depth), and again between depths of 276m and 311m along hole (between 202m and 228m vertical), and was particularly notable between depths of 302m and 309m along hole, in an interval that appeared consistent with following previously reported intervals from the 2022 drill program: 32.8 to 40m along hole in drill hole NGKOP22022 which returned average grades of 5.91 and 0.29% Cu over 7.2m; 125.2m to 127.1m along hole in drill hole NGKOP22014 which returned average grades of 5.27 g/t Au and 0.11% Cu over 1.9m. Additional relatively intense quartz veining and/or silicic alteration and sulfide mineralization was also observed in the core from shallower drill holes NGKOP23031 and 23032, within the vicinity of the main mineralized zone, as well as near surface in NGKOP22032.

Other, more moderately intense observed quartz veining and/or silicic alteration with sulfide mineralization (suggesting more modest grades) continued beyond the depth of the more intense observations in drill hole NGKOP22034, to a depth of approximately 375m along hole (275m vertical), and also occurred at various other intervals across drill holes NGKOP23031, 23032, and 23034, and in other drill holes: NGKOP23026, 23027, 23028, and 23033, which targeted relatively shallow southwest extensions to the main mineralized zone, and NGKOP23029 and 23030, which targeted relatively shallow southeast extensions to the main mineralized zone. Assays results are pending for all nine of these drill holes (1,993m) completed at Kopsa as part of the completed 2023 drill program, as well as for the two holes (281m) completed at Kiimala Trend to test early stage targets Alakylä and Pääneva, and are all due to be announced over the coming weeks to months, as they are received from the assay lab and processed.