Norrland Gold Corporation announced the granting of a new tenement that is prospective for Rare Earth Elements as the company continues to build an attractive diversified exploration portfolio in Sweden, a Tier 1 mining jurisdiction. Increasing Norrland's land holding with the granting of the Liljendal Rare Earth Elements (REE) tenement; Geophysical work continues at the Vittanträsket and Pingisvaara gold projects; Re-logging historical drill core at the Junsele Battery Metals prospect. The Liljendal Rare Earth Elements (REE) tenement, located in central Sweden, covers an area of 1,732 hectares.

The first exploration period expires February 2, 2025. The tenement covers more than ten kilometers along a major tectonic zone with known REE mineralization. Many of the Rare Earth Elements, such as Holmium, Yttrium, and others, were first discovered in Sweden in the late 18th and early 19th century.

Sweden is sometimes referred to as the "Home of Rare Earth Elements". Rare Earth Elements are all considered strategic metals by the Swedish government who have an active interest in identifying sources within the European Union. The Company will conduct surface sampling and mapping with a view to defining drill targets in this well exposed area.

This program will commence towards the end of the second quarter as weather permits. The current geopolitical turmoil and rising energy prices are likely to result in western economies accelerating the shift towards the `green economy' and reducing reliance upon fossil fuels. The electrification of the energy used to drive machinery is a key part of the energy transition and one of the most significant energy shifts in history.

Magnet metals are central to this transition and critical to manufacturing applications such as electric vehicles and wind turbines. The location of critical rare earth materials will become significant factors in future supply chains. Prices of Praseodymium-Neodymium Oxide (NdPr) continue to rise driven by burgeoning demand and growing shortage of supply in China.

Geophysical work is ongoing at Norrland's two gold-prospects in Northern Sweden, Vittanträsket and Pingisvaara which was announced previously on December 9, 2021. Many of Sweden's deposits are hidden under moraine cover which presents a great opportunity for a new discovery. Vittanträsket is located within the most substantial geochemical gold in moraine anomaly in Sweden.

The 4 million oz historical Boliden gold mine current 1 million plus oz Barsele gold project of Agnico Eagle are examples of known deposits in the same geological terrain and region in which the Company is working. The Company announced previously on December 9, 2021 the granting of the Junsele tenement covering 1,225 hectares over a layered mafic with ultramafic layers intrusion in central Sweden. The Swedish government carried out a nationwide exploration program for Platinum in the 1980s.

An unsubstantiated platinum assay of 21 g/t in a chip sample from narrow ultramafic bands was reported which represented the high platinum value sample ever recorded by state geologists in Sweden. Junsele represents a virtually unexplored layered mafic complex with potential to host significant PGEs, nickel and copper. The Company plans to re-log historical drillcore at the Junsele project to validate historical grades and to plan for future exploration.