Arctic Minerals provides update on gold exploration at the Nutukka gold project in Finland

Follow-up sampling finds cluster of gold-bearing soil samples likely to be of local origin.

Arctic Minerals AB (publ) is pleased to announce an update on its recent soil sampling program at its 100%-owned Nutukka gold project in Finnish Lapland. This latest program was carried out to follow up on the promising results of the first program carried out in June 2020 (see Press Release of 26 August 2020).

Arctic Minerals carried out further soil sampling and processing in Nutukka during September 2020. A total of 76 new samples were taken, of which 38 have so far been panned and analysed in order to identify visible gold particles. The samples are being checked by microscope in order to identify smaller particles invisible to the naked eye. So far, 37 of the 38 samples contain gold. The remaining half of the samples will be processed and analysed in the near future.

Results so far show that there is a distinct cluster of gold-bearing samples in one particular location within the reservation. All 7 samples taken from the cluster area are gold-bearing. Of note is that 6 samples contained gold particles larger than 100 microns (0.1 mm) in diameter, of which 5 samples contained particles between 200 microns (0.2 mm) and 500 microns (0.5 mm). The largest particle measured approximately 1000 microns across (1 mm).

Comment from CEO, Jonatan Forsberg:

These are exciting results which clearly demonstrate the gold potential of the Nutukka area. We now look forward to the remaining results, so that we can plan the next step of the exploration.

The latest sampling builds on the results of the program carried out in June 2020. In the June 2020 program, 50% of all samples contained gold, with the largest particle measuring 700 x 250 microns (0.7 mm x 0.25 mm), see Press Release dated 26 August 2020. The latest results suggest that the two gold anomalies identified in the June program are in fact a single, larger cluster.

The sampling is being carried out by a consulting geologist specialising in the type of gold geology which the Company is targeting at Nutukka. The consultant considers the results so far to be very promising. The shape and size distribution of the gold particles suggest a local origin for the gold, with the source being within 2 kilometres of the cluster.

The Nutukka gold project is located in Finnish Lapland, approximately 100 km northeast of the municipality of Kittilä, Finland and approximately 20 km southwest of the old gold panning village of Tankavaara. The Nutukka exploration reservation, covering 366 km2, is situated towards the eastern end of the central Lapland Greenstone Belt of northern Finland. This belt hosts the largest gold mine in Europe, Kittilä, operated by the Canadian company Agnico Eagle, producing approximately 190,000 oz gold per year (2018). The belt has also seen a number of new gold discoveries in recent years. The Company considers that the geology of the Nutukka area has strong similarities to that of the goldfields of Western Australia and the Abitibi belt of eastern Canada, both major gold-producing regions.

Certified Advisor

UB Securities Ltd, of Helsinki, Finland, (www.unitedbankers.fi) is the Company's Certified Advisor on Nasdaq First North Growth Market, Stockholm.

Other

The company's shares are listed on Nasdaq First North Growth Market, Stockholm under the trade designation "ARCT".

For further information

see the Company's website at www.arcticminerals.se or contact:

Jonatan Forsberg, CEO

(+46) 76 105 1310

jonatan.forsberg@arcticminerals.se

or

Risto Pietilä, Exploration Manager

(+358) 40 029 3217

risto.pietila@arcticminerals.se

About Arctic Minerals

Arctic Minerals is a Nordic mineral exploration company exploring for copper, zinc, gold and battery metals in northern and central Finland. The Group also owns mineral rights in Norway.

At present, Arctic Minerals has exploration permits in the Raahe-Ladoga ore belt of central Finland, and has applied for an exploration permit in the Peräpohja schist belt in northern Finland. In addition, the Group has exploration reservations in the Peräpohja schist belt, in the Kiiminki schist belt northeast of Oulu, Paasivaara northeast of Kemi and in Central Lapland. Arctic Minerals also owns mineral rights to the closed Bidjovagge gold- copper mine in Finnmark in northern Norway.

This information is information that Arctic Minerals AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU) 596/2014. The information was submitted for publication, through the agency of the contact persons set out above, at 11.35 on November 17, 2020.

Bokslutskommuniké får helåret 2020

Styrelsen i Arctic Minerals AB (publ) ("Arctic Minerals", "Bolaget" eller "Moderbolaget" och med dess dotterbolag "Koncernen") ("Styrelsen") avger härmed bokslutskommuniké för helåret januari - december 2020.


Year-end report for the full year 2020

The Board of Directors of Arctic Minerals AB (publ) ("Arctic Minerals", the "Company" or the "Parent company" and together with its subsidiaries the "Group") (the "Board") hereby submits the year-end report for the full year January - December 2020.


Kommuniké från extra bolagsstämma i Arctic Minerals AB (publ)

Extra bolagsstämma i Arctic Minerals AB (publ) ("Bolaget") hölls idag den 4 januari 2021 i Östersund.


Report from the extraordinary general meeting of Arctic Minerals AB (publ)

An extraordinary general meeting of Arctic Minerals AB (publ) (the "Company") was held today on 4 January 2021 in Östersund.


Kallelse till extra bolagsstämma i Arctic Minerals AB (publ)

Aktieägarna i Arctic Minerals AB (publ), org. nr 556569-3602, ("Bolaget") kallas härmed till extra bolagsstämma den 4 januari 2021 kl. 14.30 i Bolagets lokaler på Köpmangatan 22 i Östersund.


Notice of Extra General Meeting in Arctic Minerals AB (publ)

The shareholders of Arctic Minerals AB (publ), reg. no. 556569-3602, (the "Company"), are hereby convened to the extra general meeting to be held on 4 January 2021, at 14.30 CET at the Company's premises at Köpmangatan 22 in Östersund.


Arctic Minerals styrelse har beslutat att genomföra riktade nyemissioner om sammanlagt högst cirka 39,5 MSEK

Styrelsen i Arctic Minerals AB (publ) ("Arctic Minerals" eller "Bolaget") har beslutat, under förutsättning av extra bolagsstämmas godkännande, att genomföra en riktad kontantemission av högst 40 965 652 aktier, vilket tillför Bolaget högst 30 724 239 SEK före avdrag för emissionskostnader (den "Riktade Nyemissionen"). Styrelsen har även beslutat, under förutsättning av extra bolagsstämmas godkännande, om en riktad kvittningsemission till tre av Bolagets fordringshavare om högst 11 713 337 aktier, vilket medför att Bolagets skuld minskar med högst 8 785 002,75 SEK ("Kvittningsemissionen"). Teckningskursen i båda emissionerna uppgår till 0,75 SEK per aktie och har fastställts genom en accelererad bookbuilding-process inom ramen för den Riktade Nyemissionen.


Arctic Minerals' board of directors has resolved on directed share issues of up to approximately MSEK 39.5 million

The board of directors of Artic Minerals AB (publ) ("Arctic Minerals" or the "Company") has resolved, conditional upon approval at a subsequent extraordinary general meeting, on a directed new share issue with payment in cash of up to 40,965,652 shares, which will raise proceeds to the Company of up to SEK 30 724 239 million before issue costs (the "Directed New Share Issue"). Further, the board of directors has resolved, conditional upon approval at a subsequent extraordinary general meeting, on a directed new share issue with payment through set-off to three of the Company's creditors of up to 11,713,337 shares, which will result in the Company's debts decreasing by up to SEK 8,785,002.75 million (the "Set-Off Issue"). The subscription price in both new share issues amount to SEK 0.75 per share and has been determined through an accelerated book building process in connection with the Directed New Share Issue.


Arctic Minerals offentliggör avsikt att genomföra en riktad nyemission av aktier genom ett accelererat bookbuilding-förfarande

Arctic Minerals AB (publ) ("Arctic Minerals" eller "Bolaget") offentliggör härmed sin avsikt att genomföra en riktad nyemission av aktier om cirka 30,7 MSEK till svenska och internationella professionella investerare (den "Riktade Nyemissionen"). Bolaget överväger även möjligheten att i samband med den Riktade Nyemissionen genomföra en kvittningsemission av aktier, till samma emissionskurs som i den Riktade Nyemissionen, om cirka 8,8 MSEK till vissa av Bolagets fordringshavare.


Arctic Minerals announces its intention to carry out a directed new share issue through an accelerated bookbuilding process

Arctic Minerals AB (publ) ("Arctic Minerals" or the "Company") hereby announces its intention to carry out a directed new share issue of approximately MSEK 30.7 to Swedish and International professional investors (the "Directed New Share Issue"). In connection with the Directed New Share Issue, the Company is also considering the possibility of carrying out a directed new share issue with payment through set-off, applying the same subscription price as in the Directed New Share Issue, of approximately 8.8 MSEK to certain creditors in the Company.


Arctic Minerals uppdaterar om pågående guldprospektering vid Nutukka guldprojekt i Finland

Vid fortsatt provtagning har jordprov med förhöjda guldhalter påvisats. Guldet är troligen av lokalt ursprung.


Arctic Minerals provides update on gold exploration at the Nutukka gold project in Finland

Follow-up sampling finds cluster of gold-bearing soil samples likely to be of local origin.


Arctic Minerals har påträffat ytterligare kopparrika malmblock vid kopparprojektet i Peräpohja

Arctic Minerals har påträffat ytterligare kopparrika malmblock vid kopparprojektet i Peräpohja i södra finska Lappland. Några av malmblocken innehåller också signifikanta halter av guld, silver och bly. Planering pågår nu för kommande kärnborrning i utvalda områden i Peräpohja. Med Peräpohja kopparprojekt avses det samarbete (Joint Venture) Bolaget ingått med Rio Tinto Group, ett av världens största gruvbolag, se pressmeddelande från den 21 januari 2020.


Arctic Minerals finds more copper-rich samples at Peräpohja copper project

Arctic Minerals is pleased to announce that it has found more copper-rich samples at its Peräpohja copper project in southern Finnish Lapland. Some of the samples also showed significant contents of gold, silver and lead. In addition, planning activities to commence diamond drilling at selected areas in Peräpohja are also under way. The Peräpohja copper project is the subject of an earn-in and joint venture agreement with the Rio Tinto group, one of the world's largest mining companies (see Press Release of 21 January 2020).


Delårsrapport för första halvåret 2020

Styrelsen i Arctic Minerals AB (publ) ("Arctic Minerals", "Bolaget" eller "Moderbolaget" och med dess dotterbolag "Koncernen") (Styrelsen) avger härmed rapport för perioden januari - juni 2020.


Interim report for the first half year (January - June) 2020

The Board of Directors of Arctic Minerals AB (publ) ("Arctic Minerals", the "Company" or the "Parent company" and together with its subsidiaries the "Group") (the "Board") hereby submits an interim report for the period January - June 2020.


Arctic Minerals uppdaterar om pågående prospektering

Arctic Minerals uppdaterar härmed om pågående prospektering i norra och mellersta Finland. Fältarbetet under 2020 har fokuserat på Bolagets guldprojekt Nutukka i mellersta finska Lappland, på batteri-metaller i Kiiminki-projektet i mellersta Finland och på prospektering efter koppar i Peräpohja skifferbälte i norra Finland. Kopparprospekteringen i Peräpohja genomförs inom ramen för det joint venture-avtal som ingåtts med det världsledande gruvbolaget Rio Tinto.

Inför höst- och vintersäsongen 2020/2021 planerar Arctic Minerals att fortskrida med fältarbeten vid guldprojektet Nutukka samt även att utföra geofysiska markmätningar i Kiiminki-området i syfte att välja optimala platser för kärnborrning efter batterimetaller. I Peräpohjas joint venture-projekt utförs geofysiska mätningar också för att välja optimala borrplatser i tidigare påvisade borrobjekt, liksom att identifiera potentiella nya borrobjekt.


Arctic Minerals Exploration Update

Arctic Minerals is pleased to issue an update on its exploration progress in northern and central Finland. The 2020 exploration field campaign has been focused on the Company's gold project in Nutukka in central Finnish Lapland, battery metals in the Kiiminki project in central Finland as well as the exploring for copper in the PeräpohjaSchist Belt in northern Finland. The exploring for copper in Peräpohja is carried out through the joint venture agreement with the world leading mining group Rio Tinto.

For the fall and winter season 2020/2021, Arctic Minerals in now targeting further field work on the Nutukka gold project and also ground geophysics in Kiiminki in order to optimise locations for drilling for battery metals. In the Peräpohja copper Joint Venture project, further geophysical surveys are being carried out, with the aim of optimising the location of previously identified drill targets as well as identifying potential new targets.


Kommuniké från årsstämma i Arctic Minerals AB (publ)

Arctic Minerals AB (publ) ("Bolaget") avhöll den 24 juni 2020 årsstämma ("Stämman") på Skeppargatan 27 i Stockholm.


Communique from Annual General Meeting in Arctic Minerals AB (publ)

Arctic Minerals AB (publ) (the "Company") held its Annual General Meeting (the "AGM") on June 24, 2020 at Skeppargatan 27 in Stockholm.


Följ oss

Om beQuoted

beQuoted publicerar nyheter, analyser och pressmeddelanden för investerare och journalister. Viktiga företagshändelser bevakas av vår egen nyhetsredaktion och vidaredistribueras i ledande finansiella medier.

Vi uppdaterar även nyhetsrum, Investor Relations och IR-webbplatser för företag som vill utveckla sina relationer med finansmarknaden.

Kontakta oss

beQuoted AB
Sturegatan 32
114 36 Stockholm

08-692 21 90

Om beQuoted