First Nordic Metals Files Q1 2025 Financials
First Nordic Metals Files Q1 2025 Financials
TORONTO
,
May 30, 2025
/CNW/ -
First Nordic Metals Corp.
("
First Nordic
" or the "
Company
")
(TSXV: FNM) (FNSE: FNMC SDB) (OTCQB: FNMCF) (FRA: HEG0) announces the release of its
unaudited consolidated financial statements and management discussion and analysis (the
"Unaudited Financial Statements") for the three-month period ending March 31, 2025 ("Q1 2025").
First Nordic started 2025 with strong execution on multiple fronts: comprehensive exploration and
drilling programs were initiated on multiple high-priority targets on the Gold Line belt (the "Gold
Line") in northern
Sweden
; multiple new large-scale gold targets were identified on the Gold Line;
the leadership team was expanded and strengthened; and the Company successfully listed on the
Nasdaq First North Growth Market ("Nasdaq First North") in
Sweden
.
Key Highlights for Q1 2025:
Fortified leadership team with the promotion of
Adam Cegielski
to President, the appointment of
John Eren
as VP of Corporate Development, and the addition of Swedish national
Henrik Lundin
to the Board of Directors.
Identified four new multi-kilometric gold pathfinder anomalies at the Storjuktan project,
expanding the Company's 100%-owned target portfolio on the Gold Line.
Commenced base-of-till / top-of-bedrock ("BoT/ToB") drilling on the Harpsund and Brokojan
targets at the Paubäcken project on the Gold Line, testing a cohesive 5.5 km gold pathfinder
anomaly.
Initiated a two-phase, 10,000-metre diamond drill program at the 4 km Aida target also at
Paubäcken, marking the most extensive drill campaign ever conducted at Aida. This follows a
previous 1,100-metre program which returned multiple robust intercepts, including 22.5 meters
at 2.4 g/t Au.
Recognized as a 2025 TSX Venture 50 company, ranking 22nd out of more than 1,600
companies based on 2024 share performance.
On
March 21
, First Nordic commenced trading on the Nasdaq First North and opened the
market in
Stockholm
.
As of
March 31, 2025
, the Company's cash balance was
C$6.9 million
and current assets were
C$8.8 million
(cash + receivables, prepaids, etc.).
Financial Reporting and Additional Notes:
The Unaudited Financial Statements are available on SEDAR+ and the Company's website
here
.
These statements are based on reasonable estimates and information available as of this reporting
date and may be subject to revision. As such, the Company's actual results may vary from the
financial information presented therein. In addition, the unaudited financial information presented
therein may not present all information necessary for an understanding of the Company's financial
condition and results of operations as of and for the period ended
March 31, 2025
.
ABOUT FIRST NORDIC METALS
First Nordic Metals Corp. is a Canadian-based gold exploration company, consolidating assets in
Sweden
and
Finland
, with a vision to create
Europe's
next gold camp. The Company's flagship asset
is the Barsele gold project in northern
Sweden
, a joint venture project with senior gold producer
Agnico Eagle Mines Limited. Immediately surrounding the Barsele project, FNM is 100%-owner of a
district-scale license position comprised of two additional projects (Paubäcken, Storjuktan), which
combined with Barsele, total approximately 100,000 hectares on the Gold Line greenstone belt.
Additionally, in northern
Finland
, FNM is the 100%-owner of a district-scale position covering the
entire underexplored Oijärvi greenstone belt, including the Kylmäkangas deposit, the largest known
gold occurrence on this belt.
ON BEHALF OF THE BOARD OF DIRECTORS
Taj Singh
, M.Eng, P.Eng, CPA
CEO & Director
For further information contact:
Marie Macdonald
, Investor Relations, 604-687-8566,
Follow First Nordic Metals:
Twitter:
@fnmetals
Youtube:
@firstnordicmetalscorp
LinkedIn:
@firstnordicmetals
Facebook:
@FirstNordicMetals
Instagram:
@firstnordicmetals
The Company's certified adviser on the Nasdaq First North Growth Market is Augment Partners AB,
, +46 8-604 22 55.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
.
Forward-Looking Statements
This news release contains forward-looking statements that reflect the Company's intentions,
beliefs, or current expectations about and targets for the Company's and the group's future results
of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies
and opportunities and the markets in which the Company and the group operates. Forward-looking
statements are statements that are not historical facts and may be identified by words such as
"believe", "expect", "anticipate", "intend", "may", "plan", "estimate", "will", "should", "could", "aim" or
"might", or, in each case, their negative, or similar expressions. The forward-looking statements in
this news release are based upon various assumptions, many of which are based, in turn, upon
further assumptions. Although the Company believes that the expectations reflected in these
forward-looking statements are reasonable, it can give no assurance that they will materialize or that
the assumptions on which it is based are correct. Because these statements are based on
assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome
could differ materially from those set out in the forward-looking statements as a result of many
factors. Such risks, uncertainties, contingencies, and other important factors could cause actual
events to differ materially from the expectations expressed or implied in this release by such
forward-looking statements. The Company does not guarantee that the assumptions underlying the
forward-looking statements in this news release are free from errors and readers of this news
release should not place undue reliance on the forward-looking statements in this press release. The
information, opinions and forward-looking statements that are expressly or implicitly contained herein
speak only as of the date of this news release and are subject to change without notice. Neither the
Company nor anyone else undertake to review, update, confirm or to release publicly any revisions
to any forward-looking statements to reflect events that occur or circumstances that arise in relation
to the content of this news release, unless it is required by law or Nasdaq First North Growth Market
Rulebook for Issuers of Shares.
SOURCE
First Nordic Metals Corp.
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%SEDAR: 00037711E
CO: First Nordic Metals Corp.
CNW 17:45e 30-MAY-25