Significant increase in mineral resources at Ertelien • news • onvista

IRW-PRESS: Kuniko Limited: Significant increase in mineral resource at Ertelien

Updated Mineral Resource Estimate for Ertelien Nickel-Copper-Cobalt Project Completed in Compliance with JORC Guidelines; shows a total mineral resource of 40 million tonnes, including 22 million tonnes of indicated and 18 million tonnes of inferred resources, highlighting its potential as a strategic source of sustainable battery metals in Europe.

Highlights:

An updated Mineral Resource Estimate (MRE) has been completed in accordance with JORC guidelines. The update builds on Kuniko’s extensive work in 2024, including completing nearly 4,000 meters of diamond drilling and sampling historic core material from the Ertelien Intrusion, and now includes a significant share in the Indicated Resource category.

The total mineral resource is 40 million tonnes @ 0.25% nickel equivalent (NiEq) with 2240 million tonnes of indicated resources @ 0.26% and 18 40 million tonnes of inferred resources @ 0.25% NiEq, representing a substantial represents an increase in tonnes and contained metal compared to the original estimated inferred mineral resource (reference: ASX announcement dated 08 April 24).

The MRE supports the existence of significant near-surface nickel, copper and cobalt resources in both disseminated and high-grade resources at Ertelien.

The total amount of metals contained is 71,000 tonnes of nickel (Ni), 49,000 tonnes of copper (Cu) and 5,600 tonnes of cobalt (Co), divided into 39,000 tonnes of Ni, 29,000 tonnes of Cu and 3,100 tonnes of Co in the indicated resources and 32,000 tonnes of Ni, 21,000 tonnes of Co Cu and 2,500 tonnes of Co in derived Resources.

The Ertelien deposit is a multi-commodity resource with positive correlation between nickel, copper and cobalt and a raw material mix of 56% Ni, 39% Cu and 4% Co.

There is potential for resource expansion at Ertelia along strike and at depth. The resource is exposed at depth and to the south horizontally. A ground electromagnetic survey indicates the presence of a shallow, untested conductor in the southern area of ​​the intrusion.

The Ertelien Intrusion is part of the much larger Ringerike Battery Metals District with tremendous potential for additional resources in a geological setting that shares several similarities with the world-class nickel and copper district of Voisey’s Bay, Labrador, Canada.

Antony Beckmand, CEO, commented:

“The updated mineral resource estimate is an important milestone for Kuniko and demonstrates a significant resource at Ertelien. Our exploration efforts in 2024 have successfully strengthened resource continuity while increasing confidence in the potential and quality of the deposit. Combined with the significant exploration potential throughout the Ringerike Battery Metal District, this project is quickly positioning itself as a promising source of sustainable, strategic metals to support the European Union’s green energy transition.

Project summary and location

Kuniko’s extensive work in 2024, including nearly 4,000 meters of diamond drilling and sampling of historic core material from the Ertelien Intrusion, has successfully resulted in a significant increase in Mineral Resources and conversion to Indicated Resources. The updated Mineral Resource Estimate (MRE) increases confidence in the resource and highlights the promising potential of the Ertelien Intrusion to host significant quantities of nickel, copper and cobalt

Ertelien is part of a larger exploration area licensed by Kuniko. The Ringerike Battery Metal District is located in southern Norway and includes several brownfield nickel-copper mines and experimental operations. The area is known to host several prospective intrusions, such as the Tysklandsgruve intrusion, where sampling values ​​up to 1.86% Cu, 1.87% Ni, 10% Co, 0.43 ppm Au and 0.21 ppm have shown Pd and drill-ready conductors have been identified in the electromagnetic ground survey in the second quarter of 2024.

The district holds significant potential for long-term battery metal production and shares several similarities with the Tier 1 Ni-Cu deposits at Voisey’s Bay, Labrador, Canada. Kuniko’s licenses cover a prospective trend of mafic intrusions and nickel occurrences extending over 20 km in a north-south direction. The Ringerike License consists of 41 exploration claims and covers 405 km². Ertelien is Kuniko’s main target within the Ringerike License and the company’s most advanced project.

Kuniko has conducted extensive mapping in the region and is currently systematizing field mapping and geochemistry results from the region to plan next exploration steps in the region. Additional exploration tasks at Ertelien include electromagnetic well surveys, geochemical modeling and drill target generation.

About Kuniko

Kuniko is focused on developing copper, nickel and cobalt projects in the Nordics and also has exploration interests in Canada. Kuniko has a strict mandate to maintain a net zero carbon footprint during the exploration, development and production of its projects and is committed to high ethical and environmental standards for all company activities. Kuniko’s main assets are in Norway.

Inquiries

Antony Beckmand, CEO

Chief Executive Officer and Director

Telephone: +47 920 47 519

Email: [email protected]

Joel Ives, Company Secretary

Telephone: +61 8 6364 5095

Email: [email protected]

Dr. Eva Reuter

Investor Relations – Germany

Telephone: +49-69-1532-5857

Email: [email protected]

permit

This announcement has been approved by the Board of Directors of Kuniko Limited.

Kuniko

ISIN: AU0000159840

WKN: A3CTAL

https://kuniko.eu/

Statement by the experts

The information in this report regarding the mineral resource assessment is based on data reviewed by Adam Wheeler. Adam Wheeler is a Chartered Engineer (C. Eng, Eur. Ing) and Fellow of the Institute of Materials, Minerals and Mining. Adam Wheeler is an independent consultant to Kuniko Limited and has extensive experience in relation to the nature of the mineralization and the type of deposit being considered and the activity undertaken to qualify as a qualified person under the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and ore reserves apply. Adam Wheeler agrees to the inclusion of the data in the form and context in which it appears.

Forward-Looking Statements

Certain information in this document relates to Kuniko’s intentions but should not be construed as forecasts, forward-looking statements or statements about future matters within the meaning of the Corporations Act or any other applicable law. Statements regarding plans regarding Kuniko’s projects are forward-looking statements and may typically be identified by words such as “project,” “anticipate,” “plan,” “expect,” “target,” “intend,” “anticipate,” “believe.” , “estimate,” “may,” “should,” “will,” or similar expressions are identified. There can be no assurance that Kuniko’s plans for its projects will proceed as expected and no assurance can be given regarding future events, subject to risks, uncertainties and other actions that may cause actual results to differ. Kuniko’s services or errors may differ from those stated in this document. Although the information contained in this document has been prepared in good faith, no assurance or guarantee can be given that the events set forth in the document will occur as intended. To the fullest extent permitted by law, Kuniko and all affiliates and their directors, officers, employees, agents and consultants disclaim, to the fullest extent permitted by law, all liability, whether direct, indirect, express or limited, contractual, tortious, statutory or otherwise, in relation to the accuracy, reliability or completeness of the information contained in this document or the likelihood of achievement of any forward-looking statements or events or results expressed or implied by any forward-looking statements; and make no representation or warranty, express or implied, as to the accuracy, reliability or completeness of the information contained in this document or the likelihood of achievement of any forward-looking statements or any events or results expressed or implied by any forward-looking statements; and disclaim responsibility and liability for these forward-looking statements (including, without limitation, liability for negligence).

No new information

Unless expressly stated otherwise, this announcement contains references to prior exploration results, all of which have been reconciled with prior market announcements made by the Company. The Company confirms that it is not aware of any new information or data that materially affects the information contained in the relevant market announcements.

No liability is assumed for this translation of the original English press release. This translation is an excerpt from a total of 26 pages. The entire English notification with all cited appendices can be viewed here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02893707-6A1243148

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