Nidhogg Resources Holding AB (publ) ("The Company") has today submitted work plans to landowners and the Swedish Mining Inspectorate (”Bergsstaten”) to conduct a geophysical survey in November 2024 within the area between Vintjärn and Kölen. The survey aims to investigate a potential connection between the two iron ore rich areas and map their extent.

The Company plans to carry out ground-based magnetic measurements using portable instruments, with readings taken every 10 meters along lines spaced 50 meters apart. The primary objective is to determine whether the two iron ore rich areas, located approximately 7 km apart, belong to the same ore body. Previous airborne magnetic surveys, conducted by the Geological Survey of Sweden (“SGU”) in the 1960s and 1970s, indicated significant magnetic anomalies, suggestive of iron ore rich formations in the area.

"The results of the surveys will be an important part of our continued planning, and we hope to use them to guide horizontal drilling from existing mine galleries in Vintjärn. By utilizing the existing infrastructure, we can follow the ore's extension underground, saving time and avoiding the costs of surface drilling," says Niclas Biörnstad, CEO of Nidhogg Resources Holding AB (publ).

For further information on the Kölen-Vintjärn project, please see the Company's previous press releases from August 7, July 19, and June 4, 2024.

Contact:
Ulrich Andersson, Chairman of the Board, Nidhogg Resources Holding AB (publ)
Email: ulrich@nidhoggresources.com
Phone: +46 70 376 0515

Or
Niclas Biörnstad, CEO, Nidhogg Resources Holding AB (publ)
Email: niclas@nidhoggresources.com

About Nidhogg Resources Holding AB (publ)

Nidhogg Resources Holding AB (publ), www.nidhoggresources.se, is a Swedish company focused on raw materials. Nidhogg was founded by individuals with over 60 years of combined experience in the commodities market, spanning from exploration to exploitation and sales, with a passion for extracting resources by applying innovative technology alongside existing infrastructure.

Nidhogg Resources believes that trial mining of ore in Tuna-Hästberg and Vintjärn-Kölen, mines that were closed in the 1960s and 1970s, could generate positive cash flow by the end of 2025.