Capella Minerals begins maiden drilling at Killero

Capella Minerals Ltd. (CMIL) announced on December 10, 2025, the commencement of its maiden diamond drilling program at the Killerö E gold-copper target in northern Finland. This program, part of the Tûmad Definitive Agreement, is fully funded by Tûmad Madencilik Sanayi Ve Ticaret A.S. The drilling operation is expected to consist of 11 holes, totaling approximately 2,200 meters, and aims to test a 1-kilometer strike extent of the identified anomaly. The drilling will pause for the holiday season from December 22 to January 2, 2026, and is set to resume thereafter.

This news represents a positive operational milestone for Capella Minerals. The initiation of a maiden drill program at Killerö E is a direct execution of the definitive agreement signed with Tûmad in September 2025, which committed Tûmad to fund up to 4,000m of drilling in Northern Finland in the first year. The fact that the program is fully funded by Tûmad reduces Capella's immediate capital expenditure requirements for this project, aligning with the company's strategy to advance its projects through strategic partnerships.

While the commencement of drilling is a critical step in the exploration lifecycle and validates the progression of the Tûmad partnership, it is a routine, albeit positive, development for an exploration company. The material impact on the stock price will ultimately depend on the drill results, which are yet to be announced. For now, it confirms that the company is executing on its stated exploration plans and the terms of its significant partnership. The news does not introduce new information that would fundamentally alter the company's valuation in the absence of assay results, but it does de-risk the project by demonstrating commitment and funding from a major partner.

Capella Minerals Ltd. is a mineral exploration company focused on precious and base metal projects primarily in Scandinavia (Finland and Norway). The company's strategy involves identifying highly prospective assets and advancing them through exploration, often leveraging strategic partnerships.

Its key projects include: * Killerö Gold-Copper Project (Northern Finland): This is a priority target within the Central Lapland Greenstone Belt, known for significant gold and copper deposits. The current news relates to the maiden drill program at Killerö E, a target previously identified by Anglo American but never drill-tested. The project is part of a joint venture with Cullen Resources Limited and is now subject to a staged earn-in agreement with Tûmad Madencilik. * Norwegian Copper-Cobalt-Zinc Projects (Hessjögriva, Kongensgruve): These are advanced exploration projects in the Røros mining district, host to volcanogenic massive sulfide (VMS) deposits. These projects are also part of the Tûmad earn-in agreement. * Løkken Copper-Cobalt-Zinc VMS Project (Central Norway): Capella retains a 10% carried interest through to production on discoveries within its former concessions, now held by Teako Minerals Corp. Capella also holds an equity position in Teako.

The company has recently divested non-core assets, resulting in retained Net Smelter Royalties (NSRs) on properties like the Savant gold project in Ontario (with BeMetals Corp.) and Central Finland lithium projects (with Grit Metals Corp.).