First Nordic Metals

First Nordic Provides Corporate Update

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First Nordic Provides Corporate Update

October 18, 2025

TORONTO, Canada, October 17, 2025 — First Nordic Metals Corp. (TSX-V: FNM, FNSE:  FNMC SDB, OTCQX: FNMCF, FRA: HEG0) (“First Nordic” or the “Company”) announces  that, in connection with its proposed acquisition of all the issued and outstanding  common shares of Mawson Finland Limited (TSX-V: FML) (“Mawson”) by way of a plan  of arrangement (the “Transaction”) (see the press release of First Nordic and Mawson  dated September 15, 2025 for additional details), the Company has agreed to to provide  bridge financing to Mawson in the form of a loan of up to $1,000,000 to be advanced  from time to time to Mawson in such principal amounts as agreed to by the parties (the  “Loan”). Advances under the Loan are intended to be used for payment of various costs  related to the Transaction and for general working capital and corporate purposes.  

Interest under the Loan accrues at 8% per annum. Neither the principal amount nor  the interest under the Loan is convertible into securities of Mawson and no loan bonus  or finder’s fees are being paid in connection with the Loan. The Loan becomes due an  payable on January 30, 2026 if the Transaction has not closed by such date. Closing of  the transaction is currently expected in mid-December 2025. 

In addition, the Company has agreed to issue Taj Singh C$1.0 million of common shares  of the Company (the “Retirement Shares”) in connection with Mr. Singh stepping down  as Chief Executive Officer of the Company in September upon announcement of the  Transaction, all in accordance section 6.4 of TSXV Policy 4.4. (Security Based  Compensation). This issuance is instead of Mr. Singh participating in the recently closed 

subscription receipt financings of the Company as was indicated in the Company’s  press release dated September 15, 2025. The Retirement Shares will be issued at a  deemed price of C$0.38 per share and will be subject to the Exchange Hold Period (as  such term is defined in the policies of the TSX Venture Exchange (the “TSXV”)) when  issued. The issuance of the Retirement Shares remains subject to the approval of the  TSX Venture Exchange (the “TSXV”).

About First Nordic Metals Corp. 

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.  

For further information, please contact: 

Russell Bradford, Chief Executive Officer of First Nordic at russell@fnmetals.com or +44 (0) 7340058869. 

First Nordic’s certified adviser on the Nasdaq First North Growth Market is Augment Partners AB,  info@augment.se. 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of  the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No  securities regulatory authority has reviewed or approved of the contents of this news release. 

Forward-looking Information: 

All statements, trend analysis and other information contained in this press release about anticipated future  events or results constitute forward-looking statements. Forward-looking statements are often, but not  always, identified using words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend”  and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and  other similar expressions. All statements, other than statements of historical fact, included herein, including,  without limitation, statements regarding the Loan, the Retirement Shares and receipt of any required TSXV  approvals. Although the forward-looking statements contained in this news release are based upon what management believes, or believed at the time, to be reasonable assumptions, First Nordic cannot assure  readers that actual results will be consistent with such forward-looking statements, as there may be other  factors that cause results not to be as anticipated, estimated or intended. Such factors include, among  others, risks relating to the timing and ability of First Nordic to obtain and the timing of the approval of  relevant regulatory bodies, if at all; risks relating to property interests; risks related to access to First Nordic’s  projects; risks inherent in mineral exploration, including the fact that any particular phase of exploration  may be unsuccessful; geo-political risks; the global economic climate; metal prices; environmental risks;  political risks; and community and nongovernmental actions. Neither First Nordic nor any other person  assumes responsibility for the accuracy and completeness of any such forward-looking statements. First  Nordic does not undertake, and assumes no obligation, to update or revise any such forward-looking  statements or forward-looking information contained herein to reflect new events or circumstances, except  as may be required by law.

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Cautionary Note Regarding Forward-Looking Statements

This press release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the terms and conditions of the Arrangement, timing for the hearing for the final order of the Supreme Court of British Columbia to approve the Arrangement and the timing and ability of Gold Line to complete the Arrangement. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions.

Investors are cautioned that forward-looking information is not based on historical facts but instead reflect Gold Line’s respective management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Gold Line believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of Gold Line. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the ability to obtain necessary approvals in respect of the Arrangement, the ability to consummate the Arrangement,; the ability to obtain requisite court approvals and the satisfaction of other conditions to the consummation of the Arrangement on the proposed terms and schedule; the potential impact on exploration activities; the potential impact of the announcement or consummation of the Arrangement on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; the re-rating potential following the consummation of the Arrangement; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time on the Arrangement. This forward-looking information may be affected by risks and uncertainties in the business of Gold Line and market conditions. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by Gold Line with the Canadian securities regulators, including Gold Line’s financial statements and related management’s discussion and analysis for the financial year ended December 31, 2022 and its interim financial reports and related management’s discussion and analysis for the period ended September 30, 2023 filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedarplus.ca.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Gold Line has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended, and do not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

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.