Arctic Minerals (ARCT) Status Update summary

Recent milestones and resource update

• Announced a maiden JORC-compliant resource at Hennes Bay: 447,000 tons of copper and 37 million ounces of silver, making it the fifth largest undeveloped copper deposit in the Nordics.

• The resource is based on 55 million tons at 1% copper equivalent, with all classified as inferred and calculated at a 0.8% copper equivalent cut-off.

• The company’s share price surged from just over SEK 2 to nearly SEK 15.5 following the resource announcement.

• Hennes Bay now represents over 99% of the company’s market value.

Strategic direction and project pipeline

• The company transitioned from a merger between Rare Earth Energy Metals and Arctic Minerals in October 2024, forming a strong board and advisory team.

• Focus remains on Hennes Bay, but other projects in Norway, Sweden (Swan Lake), and Finland are being advanced.

• Swan Lake is in the initial exploration phase, with significant geophysical data and shallow drilling indicating potential.

Exploration and development plans

• Only one of six prospects at Hennes Bay has been drilled extensively; five others are close to JORC compliance with additional drilling.

• Plans include geophysical surveys and drilling to expand the resource, targeting high-grade zones and testing geological theories.

• Preliminary Economic Analysis (PEA) work has started, with a goal to reach feasibility within three to four years and permitting within five years.