First Nordic Metals Files Q2 2025 Financials

Executive Summary

• First Nordic Metals released its unaudited Q2 2025 financial statements, reporting C$2.7 M cash and C$4.3 M current assets as of June 30 2025.
• The company raised C$15.4 M in a fully‑oversubscribed “LIFE” financing in July 2025 and announced the acquisition of EMX’s Nordic Business Unit, creating an operational hub in Malå, Sweden.
• Significant drilling results were disclosed, including up to 2.66 g/t Au from BoT/ToB drilling at Nippas and high‑grade intercepts from the Aida program (1.94 g/t Au over 21.5 m; 5.45 g/t Au over 4.6 m).

Key Details

• Financial Highlights
• Cash balance: C$2.7 M; total current assets: C$4.3 M (cash + receivables, prepaids, etc.).
• Completed a “LIFE” financing raising gross proceeds of C$15.4 M; fully oversubscribed.
• Acquisition
• Acquired EMX’s Nordic Business Unit, establishing a dedicated operational hub in Malå, Sweden, and integrating an experienced Nordic technical team.
• Drilling & Exploration
• Nippas target BoT/ToB results: assays up to 2.66 g/t Au; launched 5,000 m Phase 1 diamond drill program on two priority corridors.
• Aida target Phase 1 drill program expanded from 5,000 m to 10,000 m after encouraging initial results.
• First 14 assays from Aida: 1.94 g/t Au over 21.5 m and 5.45 g/t Au over 4.6 m, expanding mineralized footprint fourfold and identifying two new zones.
• Harpsund target: completed geochemical surveying and BoT/ToB drilling, confirming a large gold anomaly; Phase 1 diamond drilling planned for H2 2025.
• Storjuktan project: identified five new multi‑kilometric gold anomalies, bringing total to ten across Gold Line Belt projects.
• Management Appointments
• Brendan Cahill appointed to the Board of Directors.
• Gernot Wober hired as Vice President Exploration (former VP Exploration at Discovery Silver Corp. and Osisko Mining Inc.).
• Subsequent Events
• The unaudited financial statements are available on SEDAR+ and the company website.

Notable Quotes

• “The successful financing, strategic acquisition, and strong early drilling results underscore our confidence in building Europe’s next gold camp,” – Taj Singh, CEO & Director.