Positive sampling results from the Nutukka gold project in Finland and further exploration with a light drill rig

New sampling results confirm cluster of gold-bearing soil samples likely to be of local origin. Following the overall positive results from the exploration in 2020, the Company has applied for an exploration permit at Nutukka, including the cluster areas. The Company now plans for drilling with a light drill rig during the 2021 summer field season in order to carry out deeper sampling of base of till and top of bedrock. Also planned is a magnetic survey to be carried out by drone. Further exploration work may also include trenching with use of an excavator, as well as further soil sampling.

Arctic Minerals AB (publ) is pleased to announce an update on the soil sampling program at its 100%-owned Nutukka gold project in Finnish Lapland. The latest results are from the sampling program carried out in September 2020, which was carried out to follow up on the promising results of the first program carried out in June 2020 (see Press Release of 17 November 2020).

All of the 76 new samples taken in September have now been processed. 20 kg samples were screened and panned resulting in final 25 g residue samples which were first examined with microscope for visible gold. In total, 51 of the 76 samples (67%) contained gold, either visible to the naked eye or by microscope. Such a result is considered exceptionally promising. 10 of the samples originate from within the previously identified cluster area and a further 3 samples are just outside the cluster. The samples from the cluster area were particularly high in fine-grained gold. The shape, size distribution and location of the gold particles suggest a local origin for the gold.

The residues first examined by microscope from the September program were also sent for chemical analysis and returned promising results. The average gold content of the 76 samples was 4 ppm (4 grams/ton). Most of the gold-rich samples come from inside or close to the above-mentioned cluster. The 10 best samples contained an average of 22 ppm gold, with the best 3 samples containing 39, 53 and 70 ppm respectively. Chemical analysis confirm that the cluster area clearly stands out in a crowd of average samples.

The highest gold value (70 ppm) is one of a group of 5 gold-bearing samples located 1.5 km to the south of the cluster. It is possible that this indicates the presence of a new cluster. This possibility will be investigated by further sampling during the summer field season 2021.

Further exploration work with a light drill rig

Following the overall positive results from the exploration in Nutukka 2020, the Company has applied for a new exploration permit at Nutukka covering 22.9 km2, which will include the cluster areas. The exploration permit, once granted, will allow further, more extended work to be carried out. In this regard, the Company plans deeper sampling of base of till and top of bedrock during the 2021 summer field season, using a light drill rig. Other sampling work may include trenching with use of an excavator, as well as further soil sampling. Also planned is a magnetic survey to be carried out by drone.

Comment from CEO, Jonatan Forsberg:

These exciting results clearly demonstrate the gold potential of the Nutukka area. Following the overall positive results from the exploration in 2020, we have now applied for a new exploration permit in Nutukka, including the cluster areas. Next step for the 2021 summer field season, is to commence drilling with a light drill rig in order to carry out deeper sampling of base of till and top of bedrock. We are also planning a magnetic survey to be carried out by drone. Further exploration work may also include trenching with use of an excavator, as well as further soil sampling.

The Nutukka gold project

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 208,000 oz (6,473 kg) gold per year (2020). 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.

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 10.20 on March 23, 2021.

Arctic Minerals publicerar årsredovisning för 2020

Arctic Minerals AB (publ) publicerar årsredovisning för 2020. Årsredovisningen för räkenskapsåret 2020 finns tillgänglig i sin helhet på Bolagets hemsida.


Arctic Minerals' Annual Report 2020 is now published

Arctic Minerals AB (publ)'s Annual Report for 2020 is now published (in Swedish). The Annual Report for 2020 is available in full (in Swedish) on the Company's website.


Kallelse till årsstämma i Arctic Minerals AB (publ)

Aktieägarna i Arctic Minerals AB (publ), org.nr 556569-3602, (Bolaget) kallas till årsstämma den 29 juni 2021 kl. 11.00 på Skeppargatan 27, 4tr i Stockholm.


Notice of Annual General Meeting of Arctic Minerals AB (publ)

The shareholders of Arctic Minerals AB (publ), reg. no. 556569-3602, ("the Company") are given notice of the annual general meeting to be held at 11:00 CEST on 29 June 2021, at Skeppargatan 27, 4tr in Stockholm.


Arctic Minerals har avtalat om prospekteringsborrning vid batterimetallprojektet Kiiminki i Finland

Arctic Minerals har ansökt om ett nytt malmletningstillstånd på 45 km2 i Kiiminki i Finland. Tillståndet möjliggör, när det beviljats, mer avancerad prospektering i området. För sommaren 2021 har Arctic Minerals nu tecknat avtal med en entreprenör om att genomföra prospekteringsborrning med lätt borrigg för djupmoränprovtagning (Base-of-Till) i Kiiminki. Under sommaren 2021 kommer Bolaget även att genomföra geofysiska undersökningar samt ytterligare geologiskt fältarbete i Kiiminki. Målet med pågående arbete är att identifiera målområden där diamantborrning kan utföras under vintern 2021/2022.


Arctic Minerals has signed a contractor for Base-of-Till drilling at the battery metals project Kiiminki in Finland

Arctic Minerals has applied for a new exploration permit of 45 km2 in Kiiminki in Finland. The permit, once granted, will allow for more advanced exploration work. For the summer 2021, Arctic Minerals has signed a contractor to carry out Base-of-Till drilling in Kiiminki with a light drill rig in order to carry out deeper sampling. Additional work for the summer 2021 includes ground geophysics as well as further geological fieldwork. The Company's aim is thus to identify targets for diamond drilling to be carried out during the winter 2021/2022.


Arctic Minerals har genomfört kärnborrning i Joint Venture-kopparprojektet med Rio Tinto

Arctic Minerals har genomfört kärnborrning vid Peräpohjas Joint Venture-kopparprojekt i Finland. Kärnborrning har genomförts i tre målområden och resulterat i värdefull information för att prioritera målområden och utveckla en geologisk modell i mer detaljerad skala. I planerna för 2021 ingår nu borrning med en lätt borrigg för att provta de djupaste delarna av moränen (Base-of-Till), vidare undersökning och provtagning av borrkärnor samt ytterligare geologiskt fältarbete. Ytterligare kärnborrning kan också komma att utföras. Bolaget har för projektet ansökt om totalt 13 nya malmletningstillstånd täckande 487 km2.


Arctic Minerals has carried out diamond drilling in the Peräpohja copper Joint Venture project with Rio Tinto

Arctic Minerals has carried out deep diamond drilling at its Peräpohja copper Joint Venture project in Finland. The drilling program has been carried out at three different targets and resulted in valuable information for the prioritization of target areas and for a target scale 3D geological model. Further plans for 2021 include drilling with a light drill rig in order to carry out deeper sampling of Base-of-Till, additional logging and sampling of archive core and also additional geological fieldwork. Further deep diamond drilling may also be carried out. The Company has applied for in total 13 new exploration permits totalling 487 km2 in the Peräpohja copper project.


Positiva resultat från guldprojektet Nutukka i Finland och fortsatt prospektering med lätt borrigg

Nya resultat från provtagningen bekräftar ett kluster av guldbärande jordprov, troligen av lokalt ursprung. Baserat på de positiva resultaten från prospekteringen2020 har Arctic Minerals ansökt om malmletningstillstånd i Nutukka, där klusterområdet ingår. Bolaget planerar nu att genomföra undersökningsborrning med lätt borrigg under sommarfältsäsongen 2021, med målet att provta de djupaste delarna av bottenmoränen och av bergytan. Även magnetiska mätningar med hjälp av drönare planeras. Fortsatt prospektering kan också komma att omfatta undersökningsdikning med grävare liksom än mer moränprovtagning.


Positive sampling results from the Nutukka gold project in Finland and further exploration with a light drill rig

New sampling results confirm cluster of gold-bearing soil samples likely to be of local origin. Following the overall positive results from the exploration in 2020, the Company has applied for an exploration permit at Nutukka, including the cluster areas. The Company now plans for drilling with a light drill rig during the 2021 summer field season in order to carry out deeper sampling of base of till and top of bedrock. Also planned is a magnetic survey to be carried out by drone. Further exploration work may also include trenching with use of an excavator, as well as further soil sampling.




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.


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