First Nordic Metals

First Nordic Advances Exploration Programs at the Storjuktan Project on the Gold Line Belt in Sweden

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First Nordic Advances Exploration Programs at the Storjuktan Project on the Gold Line Belt in Sweden

Vancouver, BC – September 9, 2024 – First Nordic Metals Corp. (the “Company” or “FNM”) (TSX.V:FNM, OTCQB:FNMCF, Germany: HEG0) is pleased to provide an exploration update on its 100%-owned Storjuktan project (“Storjuktan” or the “Project”) located on the Gold Line belt, northern Sweden, approximately 30 kilometers (“km”) north of the Company’s flagship Barsele project. At Storjuktan, the Company’s glacial till geochemical survey, which started several weeks ago, is progressing well and the Company has recently commenced a property-wide geophysical survey.

Taj Singh, First Nordic President and CEO comments: “Storjuktan already has one highly prospective target advancing towards drilling – the 5.5 km Nippas target – but 90% of the project area has not had any significant geochemical and geophysical work carried out on it. We believe there is high potential for the discovery of other exciting targets at Storjuktan.”

“The fall will be a busy and exciting period for FNM, with key technical programs being carried out at multiple high-priority projects on the Gold Line belt (including Paubäcken and Klippen). With the adjacent, resource-stage Barsele project as our foundation, our near-term aims are to progress our advanced targets through drilling and to discover new targets on what we believe will be Europe’s next major gold camp.”

Storjuktan UAV Magnetic Geophysical Survey
FNM has commenced its unmanned aerial vehicle (UAV) magnetic geophysical survey over the entire 25,000 hectares (“ha”) of the Storjuktan Project area. Approximately 35% of the survey has been completed at the time of this news release and the survey is projected to be completed by the end of September, weather permitting. Radia Oy, an industry leader in UAV magnetic surveys, has been commissioned to conduct the 5,193 line-km survey. The survey will be flown on 50 meter (“m) spaced lines at an average height of 45 m. Following completion of the survey, the data will be systematically interpreted to map the underlying geology and structural architecture of the Storjuktan project area in detail.

The survey has two objectives: (i) mapping of the structural architecture of the northern portion of the Gold Line belt for target definition in areas where surficial geochemical anomalies have been observed, and (ii) identification of new targets within the Storjuktan project area, where no exploration activities have taken place to date.

Storjuktan Surface Till Geochemistry Survey
The Company has collected approximately 6,500 B-Horizon glacial till samples, representing approximately 30% of the total coverage area planned for 2024. Glacial till sampling will continue through the fall. The survey is designed to cover the remaining 20,000 ha of the 25,000 ha project area. A high-density sample spacing is used (15 m x 75 m sample spacing) to identify anomalous areas. All samples are screened using XRF (x-ray fluorescence) analysis for gold pathfinder elements and samples from anomalous areas will be sent for gold assay at an external laboratory.

Program Update on Other Projects
The Company’s work plans for its other 100%-owned projects remain on track; this includes:

  • Klippen project: top-of-bedrock / base-of-till (BoT) drilling to start – October 2024
  • Storjuktan project (Nippas target): BoT drilling – Q4 2024
  • Paubäcken project (Harpsund target): BoT drilling – Q4 2024
  • Paubäcken project (Aida target): BoT and diamond drilling – Q1 2025

About the Storjuktan Project
The Storjuktan project is a large, early-stage project strategically positioned north of the Company’s Barsele project. It consists of seven contiguous licenses covering 30,000 ha located in the northern portion of the Gold Line belt. The Storjuktan project contains over 60 km of the Gold Line structure. All mineralization discovered to date shows a spatial relationship to this structural corridor, occurring mainly on second- and third-order splay structures.

About the Gold Line Belt Geology
The geology of the Gold Line belt consists of an inverted volcano-sedimentary sequence intruded by small pre- to syn-kinematic granitic intrusions within a broad, anastomosing high strain structural corridor. Lithologies are regionally metamorphosed to upper greenschist and amphibolite grade facies, and gold mineralization is associated with intense sericite, carbonate, biotite, and calc-silicate alteration assemblages and sulphide minerals pyrite, arsenopyrite, and pyrrhotite. The regional Gold Line structural corridor runs up the axis of the belt with many jogs, splays, and zones of structural complexity that are potential locations for dilation and deposition of gold bearing fluids. These lithological sequences are deemed to be highly prospective for orogenic gold deposits.

ABOUT FIRST NORDIC METALS
The Company’s flagship asset is the Barsele gold project, located in Sweden and in a joint venture with senior gold producer Agnico Eagle Mines Limited. Ownership in the Barsele gold project is currently 55% Agnico Eagle and 45% FNM (Agnico Eagle has the right to earn an additional 15% by completing a pre-feasibility study). Immediately surrounding the Barsele project, FNM is the 100%-owner of a district-scale license position of close to 100,000 hectares on both the prolific Gold Line and Skelleftea VMS belts. Additionally, in northern Finland FNM holds the entire underexplored Oijärvi Greenstone Belt.[2]

ON BEHALF OF THE BOARD OF DIRECTORS
Taj Singh, M.Eng, P.Eng, CPA
President & CEO, Director

Qualified Person
Benjamin Gelber, P. Geo., Chief Technical Director of the Company, is the Qualified Person as defined in NI 43-101 and takes responsibility for the technical disclosure contained within this news release.

For further information contact:
Alicia Ford
Business Development Manager
Phone: 604-687-8566
Email: [email protected]

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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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Cautionary Note Regarding Forward-Looking Statements

This press release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the terms and conditions of the Arrangement, timing for the hearing for the final order of the Supreme Court of British Columbia to approve the Arrangement and the timing and ability of Gold Line to complete the Arrangement. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions.

Investors are cautioned that forward-looking information is not based on historical facts but instead reflect Gold Line’s respective management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Gold Line believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of Gold Line. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the ability to obtain necessary approvals in respect of the Arrangement, the ability to consummate the Arrangement,; the ability to obtain requisite court approvals and the satisfaction of other conditions to the consummation of the Arrangement on the proposed terms and schedule; the potential impact on exploration activities; the potential impact of the announcement or consummation of the Arrangement on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; the re-rating potential following the consummation of the Arrangement; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time on the Arrangement. This forward-looking information may be affected by risks and uncertainties in the business of Gold Line and market conditions. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by Gold Line with the Canadian securities regulators, including Gold Line’s financial statements and related management’s discussion and analysis for the financial year ended December 31, 2022 and its interim financial reports and related management’s discussion and analysis for the period ended September 30, 2023 filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedarplus.ca.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Gold Line has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended, and do not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.