First Nordic Metals Corp. (TSXV: FNM) (FNSE: FNMC SDB) (OTCQB: FNMCF) (FRA: HEG0) announced 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:
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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
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Expanded the Aida target Phase 1 drill program from 5,000 m to 10,000 m following encouraging initial results
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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
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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
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Announced the acquisition of EMX’s Nordic Business Unit, establishing a dedicated operational hub in Malå, Sweden, and integrating an experienced Nordic technical team
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Appointed seasoned mining executive Brendan Cahill to the Board of Directors
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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:
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Appointed highly regarded geologist Gernot Wober, former VP Exploration at Discovery Silver Corp. and Osisko Mining Inc., as VP Exploration
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In July, the Company launched and closed a fully oversubscribed “LIFE” financing for total gross proceeds of C$15.4 million
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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.
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