Arctic Minerals (ARCT) Status update summary

Leadership and company transformation

• Major leadership changes since October 2024, including a new CEO and board members, following the acquisition of Rare Earth Energy Metals.

• The company is now positioned as a new entity with a refreshed management team and strategic direction.

• Board includes experienced geologists and finance professionals, enhancing credibility and operational capability.

Project portfolio and focus

• Main focus is the Hennes Bay project in Sweden, with additional projects in Norway and Finland.

• Hennes Bay has a JORC-compliant resource of 55.4 million tonnes at 1% copper equivalent, with significant silver content.

• The project area is underexplored, with less than 5% drill tested, and recent geophysics expanded the target area tenfold.

• Bidjovagge (Norway) and Swan Lake (Sweden) are also in the portfolio, with Bidjovagge on hold due to political issues and Swan Lake at an early exploration stage.

Market context and strategic timing

• Global copper and silver supply deficits and underinvestment in Europe create a favorable environment for new projects.

• EU Critical Raw Materials Act and geopolitical factors increase the strategic value of Nordic mining assets.

• Hennes Bay’s infrastructure is highly advantageous, with major power lines, railways, and proximity to Gothenburg.