Northgold AB reported that the Administrative Court of Northern Finland ("Administrative Court") has ruled in Northgold's favour. The Finnish Safety and Chemicals Agency ("Tukes") had in November 2021 granted an exploration permit, Haapavesi 8, to Northgold's wholly-owned subsidiary, Lakeuden Malmi Oy, which owns 100% of the Kiimala Trend gold project in Central Finland, covering prospective ground along some 15km of a regional fault or shear structure. Tukes's decision was appealed by a third party, but as a result of the Administrative Court ruling to reject the appeal, this most important exploration permit in Kiimala Trend has gained full legal force and has become this project's eighth active exploration permit.

Haapavesi 8 includes compliant mineral resource of Angesneva, 3.85 million tonnes ("Mt") grading 1.19 grams per tonne ("g/t") gold ("Au") for 147,300 ounces ("oz") Au, and historic mineral resource of Vesipera, 0.29 Mt grading 2.52g/t Au for 23,500oz Au. Overall, compared to the Swedish side of the Gulf of Bothnia (Sweden?s ?Gold Line? and ?VMS Trend?) or to comparable gold belts in Canada or Australia, Middle Ostrobothnia and the Haapavesi 8 exploration permit area have only relatively minimal, shallow exploration completed, and are therefore poised for more discoveries and resource extensions from additional exploration.

The Haapavesi 8 tenement area is shown in Figure 1 and 2, and contains two existing deposits (Ängesneva and Vesiperä) and four other drilled prospects (Kiimala, Ängeslampi, Tiitola, and Pöhlölä) that together have historic drilling of 2,255 meters ("m?) from 46 holes. Ängesneva has 9,168m (69 holes) of historic drilling and has a 2010 mineral estimate from past owners that was compliant with Canada?s National Instrument (?NI?) 43-101, and Vesiperä has 2,198m (35 holes) of historic drilling and has a historic resource estimate. Ängesneva remains open along parallel structures and at depth where historic drilling intersected 5.26 g/t Au and 0.3% copper over 15.1m from 273m, and Vesiperä deposit has nearby surface gold anomalies that have not been followed up.

Additional Au intercepts from other drilled prospects include shallow drill assays of 2.27g/t over 17.25m in Kiimala and 5g/t over 3m in Ängeslampi, 5 of 50 historic drill assays exceeding 1g/t in Tiitola, and 12 of 134 historic drill assays exceeding 1g/t in Pöhlölä. These targets are now drill-ready and will immediately be incorporated into ongoing planning efforts for future exploration, which will continue to be mostly focused on the Company?s fast-growing, 0.75 million ounce gold-equivalent Kopsa gold and copper project. Haapavesi 8 area is roughly 50km north of Kopsa, and acts as a possible future production satellite (along with Hirsikangas), to supplement primary production from Kopsa, as part of a Middle Ostrobothnia gold complex, with synergies from shared infrastructure.