Kuniko Limited provided Norwegian Drilling Update. Highlights: Ertelien Nickel Project: Kuniko's maiden diamond drill programme at the Ertelien Nickel Project has been successfully completed on time, on schedule, on budget. Massive sulphide mineralisation observed in four of four primary drillholes (KNI_ER001, KNI_ER003, KNI_ER004 and KNI_ER005).

Drill meters totalled 1,366.9 m, with four primary diamond drillholes completed, while a shallow fifth hole terminated to avoid unmapped historic mine workings. Supporting Kuniko's target of preparing a maiden JORC resource estimate, two additional historic drill holes have been selected and cut for modern assay analysis. ER2006-05 has been selectively sampled in order to effectively grade continuity between this hole and Kuniko's twin drillhole KNI_ER003.

ER2006-10 has been comprehensively sampled to both corroborate historical grades and add further lithogeochemical data in proximity to the 13.0 m and 9.1 m sulphide intervals observed in KNI_ER001 target zone. Undal-Nyberget Copper Project: The drill rig from Ertelien has been mobilised to site and Kuniko's Maiden drilling campaign at the Undal-Nyberget Copper Project is in progress. A total of up to 11 holes for 1000-1500 meters are planned over strong geophysical and geochemical targets.

The first hole has been drilled into the Myrmalm conductor targets, and a second hole is currently under way down-dip of the first. Skuterud Cobalt Project: The Skuterud drilling programme is continuing on plan, with 5 drillholes complete for a total of 1,548.7 meters of a planned 2,500 meters. A 6th hole is in progress.

Ertelien Nickel project: The Ertelien Ni-Cu-Co deposit is a brownfield site located on the highly prospective, wholly owned, Ringerike Battery Minerals Project, in central-southern Norway, north-west of Oslo. Drilling Progress: The maiden diamond drilling program at the Ertelien Nickel Project that commenced during January 2023 has been completed on schedule, as planned and on budget. Five diamond drillholes were completed for a total of 1,366.9 m, two of which (KNI_ER001 and KNI_ER003) represented twin holes of key historical drillholes from the previous licence holder, Blackstone Ventures Inc. The programme focussed on a single drill section, with the aim of better constraining the continuity of geology and mineralisation between holes, to inform the design and implementation of future drilling programmes as Kuniko looks to develop its own JORC-compliant Mineral Resource Estimation.

After intersecting massive sulphide mineralisation in KNI_ER001, KNI_ER003 and KNI_ER004, Kuniko announced that the final hole in the programme, KNI_ER005, intersected well-developed massive sulphide mineralisation in the Gneiss-footwall zone. Highlights of significant visual mineralisation include: 6.4 meters with observed variable 30-90% pyrrhotite-chalcopyrite with lesser pyrite as massive sulphide lenses, network and disseminated grains. Includes massive sulphide lenses (up to 65cm thick) and barren intervals of garnet-gneiss (from 266.1 m) 1.9 meters with observed >50% pyrrhotite dominated sulphides with minor pyrite and lesser chalcopyrite as bands and massive sulphide layers.

Hosted in deformed garnet-rich gneiss (from 261.2 m). In connection with the advancing Kuniko's knowledge of the Ertelien Ni-Cu-Co deposit, with a view to preparing a JORC resource estimate, Kuniko has completed additional sampling of available historical drill core at the NGU National Core Archive. Two holes drilled by Blackstone were selected, including ER2006- 05 (twinned by KNI_ER003) and ER2006-10.

The sampling of ER2006-05 aims to add the same two-fold grade verification as the ER2006-06B and KNI_ER001 twin, allowing the team to compare the historical and modern assays of the same core, but also any potential variability between twins. ER2006-10 was selected due to its proximity to KNI_ER001, where in addition to further validating historical assays, multielement assays are aimed at adding vital data to facilitate modelling the geology surrounding the main mineralised interval in KNI_ER001. Undal-Nyberget Copper Project: The Undal-Nyberget Project is located due south-west of Trondheim and is targeting VMS Copper mineralisation in the Norwegian Caledonides.

Maiden Drilling Commences: After last year's field campaign confirmed the presence sulphide mineralisation on several conductive trends identified in by Kuniko's airborne SkyTEM geophysical survey, Maxwell Plate models were generated at the Myrmalm and Øyasætra targets. These locations showed prospective trends with the strongest conductivity. This programme will be the first diamond drilling programme on the property since the closure of the Undal Cu-Zn Mine in 1971, and the planned targets have never been tested before.

Eleven holes are planned across the Myrmalm and Øyasætra targets, and 1,000-1,500 m will be completed from this selection based on drilling progress and geological results. Drilling plans at both targets have been updated to improve programme efficiency, reducing the number of rig moves between holes and optimising the drilling programme workflow. The planned hole layout will thoroughly test the northern half of the Myrmalm target and covers an area of around 250 m along strike and 120 m down dip between the upper- and lowermost drillholes.

VMS deposits in the Norwegian Caledonides typically occur as elongate `ruler-shaped' bodies, the long axis of which is typically controlled by the regionally variable F2 lineation. Mapping data obtained by Kuniko's field work in 2022 suggests that at Myrmalm, this lineation should be plunging gently to the North, an orientation favourable for the planned drilling layout. As at the date of this announcement, drillholes KNI_NYB001 and KNI_NYB002 have been completed from the first pad location, and visual results are pending the logging and processing of drill core at the NGU National Core Archive logging facility in Løkken Verk.