Nordic Resources Lifts Gold Resource to Over 1Moz in Major Site-Wide Upgrade

Key Highlights:

• Total Mineral Resource Estimate (MRE) upgraded to 1.03 million ounces of gold (Moz)
• 34% increase in contained gold across Lapland Gold Project
• Maiden resource at Kutuvuoma deposit delivers 122koz @ 4.0g/t
• CEO Robin Widdup highlights potential for further growth
• NNL shares trade at $0.09, up 5.88% during ASX session
   

Nordic Resources Surpasses 1Moz Gold Mark with Landmark Resource Upgrade in Lapland.

Nordic Resources Ltd (ASX: NNL) has delivered a major milestone at its Lapland Gold Project in Finland, announcing a 34% uplift in its Mineral Resource Estimate (MRE), taking total contained gold to 1.03 million ounces. The revaluation represents a major step forward for the company’s ambitions in the emerging European gold frontier and affirms its strategy of aggressive brownfields and greenfields exploration.

The updated MRE follows extensive drilling and re-interpretation of geological models across its core deposits—Satulinmäki, Palokas, and newly defined Kutuvuoma.

The standout addition comes from Kutuvuoma, where Nordic has declared a maiden resource of 122,000 ounces at an impressive grade of 4.0g/t. This high-grade inclusion is being touted as a game-changer in terms of scale and optionality for the broader project.

In a statement to shareholders, Managing Director Robin Widdup said:

“The increase of the total contained gold ounces to more than one million ounces marks a significant milestone for Nordic. With a 34% uplift in the site-wide MRE, we continue to demonstrate the world-class potential of Lapland as a gold-producing district.”

“Importantly, the maiden resource at Kutuvuoma has confirmed both scale and high grade, which we expect to be a key driver of future project economics. Our fieldwork, drilling programs, and resource growth continue to build a robust foundation as we move toward advanced studies and eventual development.”

Resource Growth Breakdown

The revised MRE reflects:

• Total indicated and inferred resources across all deposits amounting to 1.03Moz gold
• A 34% increase from the previous total of 769,000oz gold
• Kutuvuoma’s maiden estimate: 950kt @ 4.0g/t for 122koz Au
• Updated Satulinmäki and Palokas models contributing additional ounces from near-surface mineralisation and deeper extensions
  
   

This site-wide revision also incorporates advanced geostatistical modelling, rigorous QA/QC protocols, and multi-phase drill campaigns across 2023–2025. Importantly, mineralisation at several zones remains open at depth and along strike, offering near-term opportunities for further resource expansion.

Strategic Implications and Market Context

This upgrade comes at a time of rising gold prices and heightened investor interest in European gold assets, driven by geopolitics, inflation hedging, and diversification from traditional mining jurisdictions.

Nordic’s success in Finland aligns with broader interest in the Nordics, where stable jurisdictions, supportive regulations, and improving infrastructure offer attractive project development conditions.

Robin Widdup emphasized that this is far from the final chapter:

“Our work is far from complete. The region hosts an array of untested anomalies and the known deposits remain open. We remain committed to systematically unlocking the full value of our tenure.”

Market Response and Forward View

Shares in Nordic Resources were trading at $0.09, up 5.88% by midday on Monday, July 14, 2025, on volume of over 1.2 million shares. The company’s market cap stands at $23.84 million, with strong investor sentiment following the news.

Looking ahead, Nordic plans to continue with step-out and infill drilling to upgrade inferred resources and test high-priority targets. The company also noted upcoming metallurgical and geotechnical studies aimed at supporting scoping and feasibility work.

With gold above US$2,350/oz and robust demand from central banks and ETFs, the company’s strategy of resource growth in a low-risk jurisdiction is gaining traction.