Northgold AB announced additional resource expansion diamond drill (‘DD') results from its completed 2022 DD program across its 100%-owned Kopsa gold-copper and Kiimala Trend gold projects in central Finland. Today's announced results include gold assays for the remaining seven and a half unreported drill holes completed at Kopsa, six of which encountered significant gold mineralization aimed at being incorporated to an updated mineral resource estimate by mid-year, including additional lateral extensions to previously encountered expansions of high-grade gold towards depth, which includes the intercepted 4.58 grams per tonne (‘g/t') gold (‘Au') over 2.1 metres (‘m') in drill hole NGKOP22016. Altogether, significant gold mineralization was encountered in 24 of the 25 drill holes completed at Kopsa during 2022 (with copper assays still pending).

Announced drill holes NGKOP22015 and NGKOP22016 & NGKOP22018 targeted westward and eastward extensions to the mineralized down-dip expansion (or continuation) of the main zone that was previously encountered along the south edge of the deposit in previously reported drill holes, NGKOP22006 and NGKOP22010, and NGKOP22007, NGKOP22008, and NGKOP22009, and NGKOP22014. Today's announced results for NGKOP22015 extend this previously encountered down-dip expansion by roughly 100m to the west, and today's announced results for NGKOP22016 and NGKOP22016 extend it by up to roughly 150m to the east, together increasing the total drilled length of the down-dip expansion to 500m (along the south edge of the deposit). NGKOP22015 intercepted gold mineralization intermittently in four, moderate-to-broad width intercepts of low-to-moderate grade gold, including a shallower zone that appears parallel to the main zone and graded 0.67 g/t Au over 17.5m from 36.2m vertical depth, and a deeper (down-dip) continuation of main zone which graded 0.50 g/t Au over 45.8m from 99.6m vertical, including 1.02 g/t Au over 9m.

NGKOP22016 and NGKOP22018 towards the east encountered more broad, low-grade gold with higher-grade sub-intervals towards depth, including 0.75 g/t Au over 20.1m from 86.1m vertical depth including the deeper sub-interval of 4.58 g/t Au over 2.1m (NGKOP22016), and 0.85 g/t Au over 35.1m from 20.4m vertical depth including the deeper sub- interval 3.22 g/t Au over 3.7m (NGKOP22018). Reported NGKOP22017 was drilled just east of NGKOP22016 and NGKOP22018 and did not encounter the targeted intrusion host rock or any significant gold mineralization (only metasedimentary rocks were encountered), marking what appears to be the eastern extents of the deposit. Altogether, the nine drill holes reported to-date that intercepted significant down-dip gold mineralization along the 500m span of the south edge of the deposit, encountered broad intervals (ranging from 20.1m to 112.5m wide along hole) of lower-grade gold (grading between 0.50 and 0.84 g/t Au) beginning from moderately-shallow depths, all including deeper, narrower intervals (ranging from 2.1m to 10.15m wide along hole) of higher-grade gold (grading between 1.02 and 4.58 g/t Au), which together could help expand the southward limits of the resource in the upcoming resource estimate, help in-fill peripheral zones that were previously defined as waste, and help create future opportunities to potentially expand the higher-grade zones at depth through future follow-up drilling.

Today's announced drill holes NGKOP22021 and the deeper portion of NGKOP22010, tested resistivity anomalies identified from an induced polarization (‘IP') geophysical survey completed earlier last year. These resistivity anomalies have been hypothesized to be associated with a more copper-rich, phorphyry-copper style, type of polymetallic mineralization that is more abundant in copper (largely from increased contained chalcopyrite), and less abundant in gold, compared to the existing Kopsa deposit, based on some observations made from the minimal quantity historic drilling completed near these recurring anomalies: namely some historic deeper drilling that extended beneath Kopsa (that collectively, broadly showed increasing Cu/Au ratio with depth) and some historic regional drilling 1km northeast of Kopsa at Sorola copper (‘Cu') prospect that intercepted primary copper with gold. The resistivity anomaly appears to occur at depth below the Kopsa deposit (near lower portion of drill hole NGKOP22010), and also appears to reoccur as parallels at shallower depths roughly 200m south of Kopsa (near drill hole NGKOP22021) and again roughly 1km northeast of Kopsa near Sorola.

For example, historic (copper-rich) drilling at depth beneath Kopsa near deep parts of NGKOP22010 encountered 0.42 g/t Au and 0.31% Cu (0.92 g/t gold- equivalent or ‘AuEq') over 6m from 140.3m (drill hole BELKOPDD057), historic (copper-rich) drilling south of Kopsa near NGKOP22021 and the resistivity anomaly encountered 0.71 g/t Au and 0.70% Cu (1.82 g/t AuEq) over 2.6m from 51.25m, historic (copper-rich) drilling north of Kopsa and near the resistivity anomaly encountered 0.31 g/t Au and 0.46% Cu (1.05 g/t AuEq) over 9m, and historic shallower drilling at Sorola copper prospect intercepted 0.9% Cu and 0.7 g/t Au (2.0 g/t AuEq) over 4m, and 0.4% Cu and 0.3 g/t Au (0.90 g/t AuEq) over 21.1m. Both the depth extension of drill hole NGKOP22010 and drill hole NGKOP22021 encountered only minimally significant gold intercepts (with copper assays pending), including the moderately-shallow, highlighted 0.67 g/t Au over 4.6m and 5.88 g/t over 0.4m (drill hole NGKOP22021) and the deeper 0.77 g/t Au over 3.25m from 235.5m vertical depth, including 1.97 g/t Au over 0.65m (drill hole NGKOP22010). The results of copper assays are awaited to determine the ultimate significance of these, potentially more copper-rich, mineralized intervals.

Today's announced drill holes NGKOP220024 and NGKOP22025 followed-up on the success of previously reported drill hole NGKOP22001, which targeted confirmation of the inner-core of the central higher-grade zone, and which encountered the best gold intercept to date on the project of 3.90 g/t Au over 98.7m from 4.2m vertical (see press release dated 2 August 2022). Unlike previously reported hole NGKOP22001 (and previously reported NGKOP22022) which was drilled broadly perpendicular to the southwest-dipping main mineralized structure, today's two reported holes (and previously reported NGKOP22023) were drilled near- parallel to it, to further delineate this higher-grade zone's variation and extents. And this was successfully achieved with today's announced highlighted intercepts of moderate-grade gold (ranging from 1.48 to 1.50 g/t Au) over broad intervals (56.7m to 58.55m along hole) from relatively shallow depths (4.5 to 18.9m vertical), across the two holes (NGKOP22024 and NGKOP22025).