Nordic Resources Secures AU$3.5 million Institutional Backing to Advance Finland Gold Projects

Highlights:

• Premium-Priced Capital Raise Completed: Nordic Resources Limited (ASX: NNL) secured A$3.5 million in a strongly supported placement, conducted at a premium to the last closing price, with cornerstone backing from Powerhouse Ventures (ASX: PVL).
• Strategic Acquisition Moves Forward: Shareholders of Northgold AB have approved the acquisition of three advanced gold projects in Finland, with final approval pending from NNL shareholders.
• Leadership Strengthened: Renowned gold-copper geologist Malcolm Norris will join as Non-executive Chairman, bringing decades of exploration and capital markets expertise to drive the company’s growth in the Middle Ostrobothnia Gold Belt.

Funding Boost at Premium to Accelerate Gold Strategy

Nordic Resources Limited (ASX: NNL) has successfully secured firm commitments to raise A$3.5 million via an institutional placement priced at a 1.7% premium to the last closing share price. At the time of writing, this brings the company's cash reserves to approximately A$6 million, enabling it to fast-track development across three advanced gold assets in Finland being acquired from Northgold AB.

The flagship Kopsa Gold-Copper Project holds a near-surface JORC resource of 23.2Mt at 1.09g/t AuEq for 814,800 ounces of gold equivalent. Located within trucking or rail distance from existing mills, the project is well-positioned for rapid development. Recent high-grade drill intersections, including 98.7m at 3.90g/t Au and 0.19% Cu, highlight its upside potential.

Leadership Reinforced with Appointment of Malcolm Norris

Renowned gold-copper geologist Malcolm Norris has been appointed as Non-Executive Chairman, effective June 1. Mr. Norris brings decades of experience, having led or contributed to world-class discoveries in Indonesia, Ecuador, and the Philippines. His leadership is expected to play a crucial role in the company's transition from exploration to development in Finland’s Middle Ostrobothnia Gold Belt.

Northgold Shareholders Approve Key Transaction

Shareholders of vendor Northgold AB have greenlit the acquisition, with the final approval now pending from Nordic Resources' shareholders at an upcoming EGM on June 3.

Strong Institutional Support Signals Confidence

The raise was significantly oversubscribed, with Powerhouse Ventures (ASX: PVL) and other institutional investors acting as cornerstone participants. Director involvement further underscores management's confidence in the company’s direction. Executive Director Robert Wrixon stated, “This placement validates our vision and sets the foundation for unlocking substantial value across our Finnish gold portfolio.”

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