Northgold AB announced results from early-stage exploration work conducted during the 2023 field season at its wholly-owned Hirsikangas Project within the Middle Ostrobothnia (MOB) gold belt. The results reported herein include assays from outcrop and boulder grab samples, and Ionic LeachTM ("IL", a proprietary partial leach technology by ALS for soil samples) soil sampling from both the Hanni Southeast ("Hanni SE") and Antinoja prospects, showing continued strong exploration potential at both targets. Highlights.

An anomalous gold trend discovered by soil geochemistry at the Hanni Southeast prospect, associated with a structural setting analogous to Hirsikangas Deposit, located just six kilometers ("km") away from Hirsikangas, in the same volcanic belt. Historically drilled Antinoja prospect now shown to extend well outside the drilled area, based on strong and widespread gold anomalism in soil intertwined with geophysical anomalies, and confirmed by high-grade grab samples from bedrock and boulders. Two completely new exploration permit applications submitted to replace Hirsi 1 and Hirsi 2, which hold the 89,000 ounces ("oz") gold ("Au") resource of Hirsikangas Deposit., to ensure the continuation of the project well into the future.

New exploration permit applied for Hietajarvi Prospect, located 13 km east from Hirsikangas resource, where historic and new high gold grade grab samples from outcrop suggest a gold-mineralised zone, at least 500 meters ("m") long along strike, with possible parallel zones indicated by historic high gold grade boulder samples. Additional details on 2023 exploration results in Hirsikangas Project. Northgold's. Hirsikangas Project is held by its wholly owned subsidiary, Lakeuden Malmi Oy, after its recent merger with Northern Aspect Resources Oy, the previous owner of the project.

The project area hosts multiple drilled and non-drilled prospects along a 10km long trend of the Himanka Volcanic Belt, within the Viitajarvi-Antinoja region (25 km southeast from Hirsikangas Deposit) and Kettuharju region (40 km south from Hirikangas Deposit), including the Hirsikangas Deposit hosting an inferred mineral resource of 89,000 oz Au grading 1.20 g/t Au that is compliant with Canada's National Instrument ("NI") 43-101. This release reports the results from early-stage IL soil geochemistry sampling from two prospects of the Hirsikangas Project: Hanni SE and Antinoja. Hirsikangas Deposit is located along the Himanka Volcanic belt, whereas Antinoja is located along the same major shear structure as Jouhineva cobalt-gold deposit.

The new results, together with knowledge from previous exploration work, indicate that Hanni SE remains highly prospective for hosting gold mineralisation. The area for IL sampling was selected based on several intercepts from one drill hole (at best 0.54 g/t Au over 8 m from 60 m, including 2.45 g/t Au over 1 m from 62 m in drill hole HANNI006) and hand-auger soil samples showing promising anomalies along one possible shear or fault structure from a group of structures interpreted as prospective for gold due to their similarity with structures observed in and around the Hirsikangas deposit. The new IL results show strong gold anomalism stretching along the shear zone, strengthening.

The potential of this target. Overall, the geological framework of Hanni SE and Hirsikangas Deposit share many clear similarities, making Hanni SE the primary early-stage target of the Himanka VolcanIC Belt. Antinoja prospect.

The new IL results from Antinoja prospect show a strong and widespread geochemical anomaly in soil, resulting from highly elevated response in gold and pathfinder elements, such as copper, molybdenum and arsenic. Moreover, the historically interpreted zones from an induced polarization survey (combining the chargeability and resistivity results) and, the recent self-potential ("SP") surveys coincide with the IL samples most anomalous in gold and pathfinder elements.