Nidhogg Resources

Nidhogg Resources Holding AB (publ) (the "Company"), has today submitted two ore samples for beneficiation analysis from the Kölen Vintjärn area. One from the Vintjärn mine comprising medium-grade ore of 35% iron and 0.5% manganese and one from the tailings adjacent to the mine.

The company has evaluated various beneficiation processes for the ore and metals present in the Vintjärn area and has identified a fossil-free and low carbon dioxide-generating process that is expected to be tested and fully analyzed in the 3rd quarter, 2024. The outcome of these tests are expected to identify what kind of metals can be extracted out of the ore including concentration and volumes.

The company has also identified a crushing and separation plant for use in the commercial process which will be adapted depending on the outcome of the enrichment analysis.

"We are now moving on to the next step in the commercialization of the Kölen Vintjärn area by analyzing an enrichment process on the ore that is on the surface and/or is relatively easily accessible in the mining area. In the event of a positive outcome, it will benefit us for further planning and commercialization partly because the technology is modular/scalable, it is energy-efficient, fossil-free and suitable for different types of ore as we work with both tailings and ore bodies that have different metal contents."

The primary focus is on the tailings and material adjacent to the Vintjärn mine, which was closed in the 1970s. For more information about the Kölen Vintjärn project, see the press release from the Company on June 4, 2024.

Contact:

Ulrich Andersson, Chairman of the Board, Nidhogg Resources AB (publ)

Email: ulrich@nidhoggresources.com

Phone: +46 70 376 0515

Or

Niclas Biornstad, CEO Nidhogg Resources AB (publ)

Email: niclas@nidhoggresources.com

About Nidhogg Resources

Nidhogg Resources AB (publ), www.nidhoggresources.se, is a Swedish limited liability company with a focus on raw materials. Nidhogg was founded by people with a total of over 60 years of experience in the commodities market, with a background from exploration to exploitation and sales and a passion for extracting commodities by applying innovative technology together with existing infrastructure.

The assessment from Nidhogg Resources is that test mining of ore in Tuna-Hästberg and Vintjärn Kölen, mines that were closed in the 1960s and 70s, may already provide positive cash flow towards the end of 2025.