First Nordic Metals Files Q2 2025 Financials
First Nordic Metals Files Q2 2025 Financials
TORONTO
,
Aug. 29, 2025
/CNW/ -
First Nordic Metals Corp.
(the
"Company"
or
"FNM"
) (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 ended
June 30, 2025
("Q2 2025").
Q2 2025 Highlights:
Announced positive base-of-till / top-of-bedrock ("BoT/ToB") drill results at the Nippas target,
including assays of up to 2.66 g/t Au, and launched a
5,000 m
Phase 1 diamond drill program
targeting two priority corridors
Expanded the Aida target Phase 1 drill program from
5,000 m
to
10,000 m
following
encouraging initial results
Completed geochemical surveying and BoT/ToB drilling programs at the Harpsund target,
confirming a large, robust gold anomaly, preparing Harpsund for Phase 1 diamond drilling in H2
2025
Identified five new multi-kilometric gold anomalies across the Storjuktan project, bringing the
total number of multi-kilometric gold targets on FNM's 100%-owned Gold Line Belt projects to
ten
Announced the acquisition of EMX's Nordic Business Unit, establishing a dedicated operational
hub in Malå,
Sweden
, and integrating an experienced Nordic technical team
Appointed seasoned mining executive
Brendan Cahill
to the Board of Directors
As of
June 30, 2025
, the Company's cash balance was
C$2.7 million
and current assets were
C$4.3 million
(cash + receivables, prepaids, etc.); subsequent to Q2 the Company raised
C$15.4 million
Subsequent events highlights:
Appointed highly regarded geologist
Gernot Wober
, former VP Exploration at Discovery Silver
Corp. and Osisko Mining Inc., as VP Exploration
In July, the Company launched and closed a fully oversubscribed "LIFE" financing for total gross
proceeds of
C$15.4 million
Released first 14 assays from the Aida drill program, returning intercepts of 1.94 g/t Au over
21.5 m
and 5.45 g/t Au over
4.6 m
, expanding the mineralized footprint fourfold and identifying
two new zones of gold mineralization
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
June 30, 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 80,000 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
news 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 and includes,
statements with respect to (i) the NBU Acquisition, (ii) issuance of Shares thereunder, and (iii)
receipt of TSXV approval of the NBU Acquisition. 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 news 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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CO: First Nordic Metals Corp.
CNW 17:30e 29-AUG-25