Investment proposition and strategy

ADVANCED EXPLORATION TARGETING LARGE, HIGH VALUE DEPOSITS

Why Pahtavaara?

• Permitted Pahtavaara mill – strategically located in the Central Lapland Greenstone Belt
• Prospective land package and proof of concept achieved with Area 1 discovery in May 2019
• Opportunity to upgrade the resource base at Pahtavaara mine and evaluate potential for restart

Why now?

• Six new discoveries made in 2019 and 2020
• Strategic investment from Agnico Eagle
• Key management team in place

Continuous focus on value creation and returns

• Realise hidden value
• Ensure investment is accretive to valuation
• Returns per share