Kuniko Limited announced multiple mineralised intercepts with massive sulphides in two additional drill holes. This further mineralisation continues the significant mineralised intervals with massive sulphides of greater than 90% abundance observed in the maiden drillhole. Massive and disseminated sulphide mineralisation is observed in Kuniko's twin hole (KNI_ER003) and its drill hole between the twin hole and surface (KNI_ER004), with mineralisation intersecting both magmatic textures and as massive sulphide veins.

Mineralised intervals of KNI_ER003 are comparable in position, scale and character to those of drillhole ER2006-05, corroborating the historical drillhole database. Further drilling (KNI_ER004) above KNI_ER003 has revealed additional information about the continuity of the gneiss footwall and associated mineralisation. A new drill pad is prepared for the next drillhole (KNI_ER005), targeting the geological continuity up-dip of the massive sulphide mineralisation in KNI_ER001.

Drill core from the first Ertelien drill hole has been logged, sampled and dispatched for assay analysis, targeting first assay results within Mar.'23. kuterud Cobalt Project The Skuterud drilling campaign has commenced with a second drill rig at the Middagshvile target, positioned at the pad location for KNI_MDV008 from the 2022 drill programme, with a focus on further defining this key mineralised zone. The first hole, KNI_MDV009 is complete, intersecting the target conductor down- dip of the cobalt mineralisation intersected in KNI_MDV008.