Northgold AB (publ) announced positive copper assay results from three important step-out drill holes completed earlier this year as part of resource extension drilling at its Kopsa gold and copper project in Central Finland, which improve and widen previously reported positive gold intersections. Highlights: These copper assays not only improve the grades of previously reported gold intersections, but also help infill and broaden them. The average grade of the previously reported gold intersections in deep drill hole NGKOP23034 that spanned a combined 71.95m and doubled the depth of the main mineralized zone has now improved by 25% from 1.10 grams per tonne (?g/t?) gold (?Au?) to 1.37 g/t gold-equivalent (?AuEq?).

The average gold grade of the previously reported main zone intersections across all three of these drill holes was 0.92 g/t Au, and is now improved by 28% to an average grade of 1.17 g/t AuEq. The average combined downhole width of the previously reported highlighted gold intersections within the main zone across these three drill holes was 54.55m per hole, and has now improved by a substantial 57% to 85.45m per hole. Highlighted copper results from 250m S-SW step-out hole NGKOP23034 (and re-stated gold results with combined gold-equivalent results) include: 0.35 g/t AuEq over 19.4m (0.14 g/t Au and 0.14% copper (?Cu?)) from 34.9m downhole depth (25.9m vertical depth), including: 0.70 g/t AuEq over 3.85m (0.27 g/t Au and 0.29% Cu) from 44.5m (33.1m), 0.99 g/t AuEq over 105.7m (0.78 g/t Au and 0.14% Cu) from 208.2m (154.7m), including: 1.41 g/t AuEq over 34.2m (1.17 g/t Au and 0.16% Cu) from 208.2m (154.7m), which includes: 4.77 g/t AuEq over 4.25m (4.28 g/t Au and 0.33% Cu) from 209.6m (155.8m), 1.34 g/t AuEq over 37.75m (1.03 g/t Au and 0.21% Cu) from 276.15m (205.2m), which includes: 3.17 g/t AuEq over 7.95m (2.55 g/t Au and 0.42 % Cu) from 299.65m (222.7m).

Highlighted copper results from 100m S-SW step-out hole NGKOP23032 (and re-stated gold results with combined gold-equivalent results) include: 0.78 g/t AuEq over 100.65m (0.56 g/t Au and 0.14% Cu) from 129.25m (96.1m), including: 1.68 g/t AuEq over 9.75m (1.44 g/t Au and 0.16% Cu) from 156.25m (116.1m), which includes: 4.24 g/t AuEq over 1.3m (3.84 g/t Au and 0.27% Cu) from 159.7m (118.7m), 0.85 g/t AuEq over 50.55m (0.62 g/t Au and 0.16% Cu) from 179.35m (133.3m), which includes: 1.28 g/t AuEq over 24.65m (1.00 g/t Au and 0.19% Cu) from 183.35m (136.3m), which includes: 3.56 g/t AuEq over 3.75m (3.31 g/t Au and 0.17% Cu) from 193.25m (143.6m). Highlighted copper results from 75m S-SW step-out hole NGKOP23031 (and re-stated gold results with combined gold-equivalent results) include: 6.31 g/t AuEq over 5.25m (6.17 g/t Au and 0.10% Cu) from 57.15m (41.8m), including: 21.06 g/t AuEq over 0.85m (21g/t Au and 0.04% Cu) from 57.15m (41.8m), 3.65 g/t AuEq over 1.15m (3.61 g/t Au and 0.03% Cu) from 91.65m (67.0m), 1.50 g/t AuEq over 8.8m (1.19 g/t Au and 0.21% Cu) from 130.1m (95.1), including: 3.17 g/t AuEq over 2.4m (2.6 g/t Au and 0.38% Cu) from 135.7m (99.2m), 0.68 g/t AuEq over 50m (0.48 g/t Au and 0.13% Cu) from 148.6m (110.4m), including: 0.92 g/t AuEq over 22.6m (0.69 g/t Au and 0.15% Cu) from 176m (128.7m), which includes: 1.51 g/t AuEq over 6.75m (1.19 g/t Au and 0.21% Cu) from 186.45m (136.4m). Drill hole collar location information pertaining to these three drill holes were previously reported in release dated 20 September 2023 along with the gold assays.

As mentioned therein, these three drill holes account for 700m of the 2,300m (across 11 holes) completed as part of the 2023 drill program across Kopsa and Kiimala Trend projects. Assays are pending for the remaining eight drill holes, to be announced in the coming weeks as they are received from the assay lab and processed. These three drill holes for which copper results are reported (NGKOP23031, NGKOP23032, and NGKOP23034) were step-out holes drilled roughly 75m, 100m, and 250m S-SW of the 2023 resource outline and were aimed at increasingly extending central portions of the main gold and copper mineralized zone to the S-SW and towards depth.

Drill hole NGKOP23034 intersected main zone gold mineralization in two intervals (1.17g/t Au over 34.2m and 1.03g/t Au over 37.75m) together spanning 72m along the drill hole as previously reported, which has now improved to a merged and broadened 0.99 g/t AuEq over 105.7m (0.78 g/t Au and 0.14% Cu). Drill hole NGKOP23032 intersected main zone mineralization in two intervals (1.44g/t Au over 9.75m and 0.62g/t Au over 50.55m) together spanning 60m along the drill hole as previously reported, which has now improved to a merged and broadened 0.78 g/t AuEq over 100.65m (0.56 g/t Au and 0.14% Cu). Drill hole NGKOP23031 intersected main zone mineralization in two intervals (1.19g/t Au over 8.8m and 0.69g/t over 22.6m) together spanning 31m along the drill hole as previously reported, the first of which has now improved to 1.5 g/t AuEq over 8.8m (1.19g/t Au and 0.21% Cu) and the second of which has now improved to a broadened 0.68 g/t AuEq over 50m (0.48 g/t Au and 0.13% Cu).