Capella Initiates Reconnaissance Diamond Drill Program at the Killero W Gold-Copper Project, Northern Finland

Capella Minerals Limited has initiated a maiden reconnaissance diamond drill program at its Killero W gold-copper project in Northern Finland. The drilling targets two specific areas, PKW-1 and PKW-2, which were identified through historical geochemical surveys, magnetic data, and structural analysis. These targets are located in strongly magnetic host rocks, interpreted as fine-grained meta-gabbro or mafic metavolcanic rocks, and cross-cutting NE-trending fault/shear zones.

The project is part of a Joint Venture with Tümad Madencilik Sanayi Ve Ticaret A.S., where Capella holds an 80% interest. It is strategically located near Agnico Eagle’s Kittila Gold Mine. Tümad’s Year 1 commitment includes up to 12,000m of diamond drilling on Capella’s gold-copper projects in the Central Lapland Greenstone Belt. The five Northern Finland projects are now fully surrounded by Agnico following Agnico's acquisition of Rupert Resources Ltd on June 16, 2026.

The current program follows a recently completed 2,008m / 9 hole diamond drill program at the adjacent Killero E project. Upcoming activities include reconnaissance Base of Till and Top of Bedrock survey lines at Jolhikko and Seiseunselka, with target determination pending review of results.

Capella Minerals Limited (CMIL) released an operational update consistent with its previously announced 2026 exploration schedule. The news confirms the progression of the Tümad earn-in agreement, which closed in February 2026. Drilling for this program is fully funded by Tümad as part of its Year 1 commitment, meaning no immediate dilutive capital raise is required for this specific activity.

The company’s strategic location near Agnico Eagle's Kittila Mine provides a positive district-scale context. However, the update represents incremental exploration activity rather than a material financial or strategic shift. No new financial commitments, major discoveries, or changes to the capital structure were announced.

Capella Minerals Limited (CMIL) is a pre-revenue junior exploration company advancing gold-copper and copper-cobalt-zinc projects in Finland, Norway, and Spain. Its flagship assets include the Killero E and Killero W gold-copper projects in Northern Finland, the Hessjøgruva copper-cobalt-zinc project in Norway, and the Solana iron-oxide-copper-gold project in Spain. The company holds an 80% interest in the Northern Finland projects, with the remaining 20% held by Cullen Resources Ltd. Additionally, Capella Minerals holds a carried 10% interest to production on the Løkken copper-cobalt-zinc VMS project in Norway via a partnership with Teako Minerals Corp. Management is led by President & CEO Eric Roth, who has extensive experience in global exploration and discovery.