Sweden

Stavaträsk Gold Project

Location and Setting

Stavaträsk is located in the Skellefteå mining district of northern Sweden, approximately 20 km north of the past-producing Boliden gold deposit. The project sits on the Vidsel–Röjnoret Shear System (VRSS), the regional-scale terrane boundary that is spatially associated with the Boliden deposit and other historic mines and operations across the district.

Status

Diamond drilling commenced at Stavaträsk in June 2026. The Stavaträsk drill permit was granted by the relevant Swedish authority, and a diamond drill rig has been mobilised to the project. The initial staged program is planned for up to 2,000 metres and is designed to test the mineralised system identified at surface, to assess its continuity at depth, and to define its geometry and structural controls. Assay results will be reported once drilling, sampling, laboratory analysis and quality assurance/quality control procedures are complete. The true thickness of any mineralised intervals is not known at this stage.

Collectively, the outcrop and boulder field define a mineralised trend of approximately 750 m at surface. Historic drilling completed by third parties in the 2000s, for which recoverable data is unavailable, is reported to have traced the system over approximately 2.5 km of strike. Company field mapping indicates gold mineralisation in a hanging-wall position relative to the main shear, above a footwall zone of chlorite-dominant alteration. Surface and boulder samples are selective by nature; see Company cautionary statement.

Comparison with the Boliden deposit

The Company considers Stavaträsk to share a number of geological characteristics with the past-producing Boliden deposit. This comparison is presented as a deposit-type and exploration-targeting analogue only, and is not a prediction of the scale, grade, tonnage or economic potential of Stavaträsk (see Company cautionary statement).

The Boliden deposit was mined between 1924 and 1967. Third-party sources report historic production of approximately 8.3 million tonnes grading 15.5 g/t Au, for roughly 4.2 million ounces of gold, together with copper, silver and arsenic. Boliden is described in published literature as a metamorphosed, structurally remobilised volcanogenic massive sulphide (VMS) system in which gold is hosted principally in arsenopyrite, with the highest-grade gold reported in later quartz–tourmaline veins. Lines of comparison identified by the Company at surface include:

• Structural setting — Stavaträsk lies on the same Vidsel–Röjnoret Shear System that published descriptions associate with the localisation of the Boliden deposit, 20 km to the south.
• Metal association and host mineral — a gold–copper–silver association hosted in arsenopyrite with pyrite and chalcopyrite, matching published descriptions of arsenopyrite as the dominant sulphide and principal gold host at Boliden.
• Structural position and alteration — gold in a hanging-wall position relative to the main shear, above a chlorite-dominant footwall alteration zone.
• Paragenetic sequence — the arsenopyrite-hosted surface mineralisation corresponds to earlier-stage mineralisation in the reported Boliden sequence; later quartz–tourmaline-style veining, which hosted the highest reported Boliden grades, has not been tested by drilling at Stavaträsk and is among the objectives of the current program.

Stavaträsk remains an early-stage exploration target defined by surface and boulder sampling and by historic drilling for which recoverable data is limited. No mineral resource has been estimated and continuity of mineralisation at depth has not been established.

Next steps

Given the sulphide content of the mineralisation observed at surface, the Company anticipates that a follow-up electromagnetic (EM) survey may assist in tracing the system along strike and down-dip beneath cover, to inform subsequent drilling.