Northgold AB announced positive gold assay results from three important drill holes completed as part of resource extension drilling at its Kopsa gold and copper project in Central Finland, all of which encountered significant gold mineralization (copper assays pending), as was suggested by visual core observations previously. These results, together with unreported copper results, and unreported gold and copper results from the remaining six drill holes completed at Kopsa (which also exhibited varying quantities of visible quartz veining and sulfide mineralization), will be incorporated to an interim resource estimate expected in early 2024, and will provide the basis for a preliminary economic study and additional resource growth drilling to follow. Highlights These are the most important and results observed to date at Kopsa - extremely significant in terms of potential impact on the resource and its continuation at depth.

Furthest step-out hole NGKOP23034 was drilled 250m south-southwest (?S-SW?) of the 2023 resource outline and intersected the main zone mineralization over two wide intervals at depth together spanning over 70 metres (?m?) with an average grade exceeding 1 gram per tonne (?g/t?) gold (?Au?) excluding the copper, which extends the zone to vertical depths exceeding 250m - double the current deposit depth of 125m. Gold mineralization was strongest (in terms of gold grade x width) in the deepest/furthest step-out hole (NGKOP23034), demonstrating increasing gold mineralization with depth in this deep intersection of the main zone. Geological interpretation is that this most recent drilling is possibly getting closer to basal/feeder portions of the tonalite intrusion host, highly prospective for future resource growth potential from additional drilling.Although copper assays are pending, chalcopyrite was one of the prominent sulfides in the core and is associated with copper.

Highlights from 250m S-SW step-out hole NGKOP23034 (copper assays pending) include: 1.17 g/t Au over 34.2m from 208.2m depth (154.7m vertical depth), including: 4.28 g/t over 4.25m from 209.6m (155.8m), and 1.03 g/t Au over 37.75m from 276.15m (205.2m), including: 2.55 g/t over 7.95m from 299.65m (222.7m). Highlights from 100m S-SW step-out hole NGKOP23032 (copper assays pending) include: 1.44 g/t Au over 9.75m from 156.25m (116.1m), including: 3.84g/t over 1.3m from 159.7m (118.7m), and 0.62 g/t Au over 50.55m from 179.35m (133.3m), including: 1.00 g/t Au over 24.65m from 183.35m (136.3m), which includes: 3.31 g/t Au over 3.75m from 193.25m (143.6m). Highlights from 75m S-SW step-out hole NGKOP23031 (copper assays pending) include: 6.17 g/t Au over 5.25m from 57.15m (41.8m), including: 21g/t Au over 0.85m from 57.15m (41.8m), and 3.61 g/t Au over 1.15m from 91.65m (67.0m), and 1.19 g/t Au over 8.8m from 130.1m (95.1), including: 2.6 g/t Au over 2.4m from 135.7m (99.2m), and 0.69g/t Au over 22.6m from 176m (128.7m), including: 1.19 g/t Au over 6.75m from 186.45m (136.4m).