Arctic Minerals (ARCT) Status update summary

Project updates and exploration results

• Recent geophysical surveys using MMT technology have identified target areas up to 10 times larger than the previously defined Dingelvik resource, with only 34% of the tenement package surveyed so far.

• The 55 million ton resource at 1% copper equivalent is expected to grow significantly, with ambitions to reach 200–300 million tons, pending successful drilling.

• The new data allows for more efficient drilling planning, focusing on high-potential zones and optimizing shareholder funds.

• Drilling applications for a 4,000-meter program are underway, with plans to expand drilling based on new geophysical insights.

• The project is classified as an advanced exploration moving into development, with a positive conceptual underground study suggesting a 3–4 million ton per annum operation for at least a decade.

Timeline and development strategy

• The current timeline includes one drill rig in 2026, two in 2027, and a feasibility study in 2028, with the new survey confirming rather than altering this plan.

• The company is moving into pre-feasibility and preliminary economic analysis, with permitting and environmental studies already in progress.

• Production could be achieved within five to six years, aiming for world-class resource status.

• The cash position is healthy, with SEK 15–20 million funding the immediate drilling and geophysics, though additional capital will be needed later in the year.

Market and regulatory environment

• There is increased optimism in the Swedish mining sector, with authorities showing more support and potential for faster permitting processes.

• The company is seen as a potential acquisition target if resource estimates are realized, but the current intention is to develop projects through to production.