First Nordic to provide a loan to Mawson Finland

Mr. Russell Bradford reports FIRST NORDIC PROVIDES CORPORATE UPDATE First Nordic Metals Corp., in connection with its proposed acquisition of all the issued and outstanding common shares of Mawson Finland Ltd., by way of a plan of arrangement (see the news release of First Nordic and Mawson dated Sept. 15, 2025 for additional details), has agreed to provide bridge financing to Mawson in the form of a loan of up to $1-million, to be advanced from time to time to Mawson in such principal amounts as agreed to by the parties. Advances under the loan are intended to be used for payment of various costs related to the transaction and for general working capital and corporate purposes. Interest under the loan accrues at 8 per cent per annum. Neither the principal amount nor the interest under the loan is convertible into securities of Mawson, and no loan bonus or finders' fees are being paid in connection with the loan. The loan becomes due an payable on Jan. 30, 2026, if the transaction has not closed by such date. Closing of the transaction is currently expected in mid-December, 2025. In addition, the company has agreed to issue Taj Singh $1.0-million of common shares of the company, in connection with Mr. Singh stepping down as chief executive officer of the company in September upon announcement of the transaction, all in accordance with Section 6.4 of TSX Venture Exchange Policy 4.4. (Security Based Compensation). This issuance is instead of Mr. Singh participating in the recently closed subscription receipt financings of the company, as was indicated in the company's news release dated Sept. 15, 2025. The retirement shares will be issued at a deemed price of 38 cents per share and will be subject to the exchange hold period (as such term is defined in the policies of the TSX-V) when issued. The issuance of the retirement shares remains subject to the approval of the TSX-V. About First Nordic Metals Corp. First Nordic Metals is a Canadian-based gold exploration company, consolidating assets in Sweden and Finland, with a vision to create Europe's next gold camp. First Nordic's flagship asset is the Barsele gold project in northern Sweden, a joint venture project with senior gold producer Agnico Eagle Mines Ltd. Immediately surrounding the Barsele project, First Nordic is the 100-per-cent owner of a district-scale licence position comprising two additional projects (Paubacken and Storjuktan), which, combined with Barsele, total approximately 80,000 hectares on the Gold Line greenstone belt. Additionally, in northern Finland, First Nordic is the 100-per-cent owner of a district-scale position covering the entire underexplored Oijarvi greenstone belt, including the Kylmakangas deposit, the largest known gold occurrence on this belt. We seek Safe Harbor.