Announcement • 4h
Capella Minerals Ltd. Initiates Reconnaissance Diamond Drill Program at Killero W Gold-Copper Project in Northern Finland Capella Minerals Ltd. had announced the commencement of a reconnaissance diamond drill program at the Killero W gold-copper project in the Central Lapland Greenstone Belt, Northern Finland. The Killero W project is one of five projects that form part of the Tümad Madencilik Sanayi Ve Ticaret A.S. earn-in Joint Venture for Northern Finland, with the current drill program at Killero W following on from the recently completed 2,008m /9 hole diamond drill program at Killero E. The Northern Finland projects (Killero E, Killero W, Jolhikko, Seiseunselka, Saattopora W) are located 40km SW of Agnico Eagle Mines Ltd.'s producing Kittila Gold Mine, with all five projects now surrounded by Agnico following the successful closing of Agnico's acquisition of Rupert Resources Ltd. on June 16, 2026. A reconnaissance diamond drill program has been initiated at the Killero W gold-copper project. Drilling will be undertaken in two initial target areas – PKW-1 and PKW-2 – defined on the basis of: i) Base of Till gold-copper anomalies derived from historical Anglo American plc regional geochemical surveys, ii) strongly magnetic host rocks (interpreted to be either fine-grained meta-gabbro or mafic metavolcanic rocks and favourable host rocks for gold-copper mineralization), and iii) cross-cutting NE-trending fault/shear zones. The current drill program represents the first diamond drilling to be undertaken in the Killero W project area. Capella currently owns an 80% interest in the five Northern Finland projects, with the remaining 20% interest being held by Cullen Resources Ltd. Capella earned-in to its 80% interest in the five projects by meeting all of its exploration commitments as outlined in an earn-in agreement as announced on August 24, 2021. Jolhikko and Seisunselka – 4 reconnaissance Base of Till and Top of Bedrock survey lines were completed over the Jolhikko and Seisunselka gold targets in Northern Finland. A total of 102 Base of Till and 55 Top of Bedrock samples were collected and sent to ALS Laboratories for analysis. A determination of potential targets for follow-up diamond drilling will be made as soon as all results have been reviewed and interpreted. The technical information presented in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 and approved by Eric Roth, the Company's President & CEO, a Director, and a Qualified Person under National Instrument 43-101. New Risk • May 05
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$2.4m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$2.4m free cash flow). Share price has been highly volatile over the past 3 months (28% average weekly change). Earnings have declined by 23% per year over the past 5 years. Shareholders have been substantially diluted in the past year (92% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$6.84m market cap, or US$5.02m). Announcement • Mar 31
Capella Minerals Ltd Initiates Base of Till Sampling Programs on the Seisunselka and Jolhikko Gold Targets in Northern Finland Capella Minerals Ltd. commenced Base of Till ("BoT") geochemical sampling programs on its Seisunselka and Jolhikko gold targets in the Central Lapland Greenstone Belt of northern Finland. The Seisunselka and Jolhikko targets are located 14 km NW and 8km WSW, respectively, of the recently completed diamond drill program at Killerö E and have been identified as highly prospective for orogenic gold deposits from interpretation of high-resolution drone magnetic data. The Seisunselka and Jolhikko BoT sampling programs are fully funded and form part of the earn-in commitment by Tümad Madencilik Sanayi Ve Ticaret A.S. ("Tümad") on the Company's Finnish and Norwegian portfolio of projects. Reconnaissance Base of Till ("BoT") geochemical sampling programs have been initiated over the Seisunselka and Jolhikko gold targets in northern Finland. These first-pass BoT (and Top of Bedrock or "ToB") sampling programs are currently expected to be completed in mid-April, with assays subsequently expected to be received in late-May. At Seisunselka, the primary target is orogenic-style gold mineralization hosted in NE-trending fault/shear zones which cross-cut broadly N-S-trending magnetic stratigraphic units (and interpreted by the Company to be deformed, iron-rich tholeiitic volcanic rocks). At Jolhikko, the primary target is orogenic-style gold mineralization associated with a complex structural zone consisting of both intense folding and fault/shear zones. Host rocks are interpreted by the Company to be deformed, iron-rich tholeiitic volcanic rocks. Base of Till sampling programs are a key element of any exploration program in the Central Lapland Greenstone Belt, with assay results being used to prioritize new targets for follow-up diamond drilling. Our interpretation of the high-resolution drone magnetic data for Seisunselka and Jolhikko indicates that these areas display many characteristics of Precambrian orogenic gold systems. And as both Seisunselka and Jolhikko are fully permitted exploration licenses, the Company will be able to follow up with diamond drilling on any anomalous areas identified through the BoT sampling. 
