First Nordic Metals Files Q3 2025 Financials TORONTO ,
First Nordic Metals Files Q3 2025 Financials
TORONTO
,
Nov. 28, 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 September
30, 2025 ("Q3 2025").
Q3 2025 Highlights:
In July, the Company closed a fully oversubscribed "LIFE" financing for total gross proceeds of
C$15.4
million.
In September, Company entered into a definitive agreement with Mawson Finland Limited
("Mawson") pursuant to which the Company agreed to acquire all the issued and outstanding
common shares of Mawson by way of a plan of arrangement.
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.
Diamond drilling was completed on the Nippas zone for a total of
5,507m
in 25 holes by the end
of September.
Meffa soil sample collection was started on the Storjuktan 103 License area in mid-September.
At Paubäcken, 61 BoT holes were drilled at Kroktjärn, just north of the Brokojan target during
August.
Base of Till (BoT) drilling and sampling occurred at the Dubblonbäcken (115 holes) target in
northern most Storjuktan 101 license and then continued at the Bråna (41 holes) target in
Storjuktan 109 license until the end of September.
230 rock chip samples and 118 soil samples have been collected in Dubblonbäcken, another
approximately 82 rock chip + 50 soil samples were collected in Bråna during surface mapping
and sampling programs through to the end of September.
Appointed highly regarded geologist
Gernot Wober
, former VP Exploration at Discovery Silver
Corp. and Osisko Mining Inc., as VP Exploration.
As of
September 30, 2025
, the Company's cash balance was
C$9.8 million
and current assets
were
C$11.8
million (cash + receivables, prepaids, etc.).
Subsequent Events Highlights:
The Company closed its private placements (both brokered and non- brokered) for gross
proceeds total of
C$80M
.
Meffa soil sampling continued after September, and a total of 2,500 samples were collected
from the Storjuktan 103 License.
All field activities were concluded at the end of October.
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
September 30, 2025
.
Issuance of Shares to Former CEO
Further to the Company's press release dated,
October 17, 2025
, following receipt of TSX Venture
Exchange ("TSXV") approval pursuant to TSXV Policy 4.4, the Company issued 2,631,578 common
shares of the Company (the "Retirement Shares") to
Taj Singh
on
November 24, 2025
, in connection
with Mr. Singh stepping down as Chief Executive Officer of the Company in
September 2025
. The
Retirement Shares were issued at a deemed price of
$0.38
per share and are subject to a statuary
four-month and one day hold from their date of issue.
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. First Nordic'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, First Nordic 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
, First Nordic 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
Russell Bradford
CEO
For further information, please contact:
Russell Bradford
, Chief Executive Officer of First Nordic at
or +44 (0)
7340058869.
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. 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 19:00e 28-NOV-25