Svea Mining Completes First Field Exploration Program

STOCKHOLM, Oct. 14, 2026 /CourierPR/ -- Svea Mining AB, a Swedish mineral exploration company focused on discovering and developing gold, copper, and silver deposits across approximately 7,500 hectares in the historic Skellefteå volcanogenic massive sulphide (VMS) district of northern Sweden, has announced the completion of its inaugural first-phase field exploration program at both of its projects, each covered by an exploration permit held by the Company (the Kalvträsk project and the Stöverfors project).

The program represents the Company's first systematic, modern-methods exploration of its property package, and the Company views its completion as an important milestone in the development of its projects. The completed program activities at both properties included systematic soil sampling along defined grids, targeting geochemical anomalies potentially indicating gold, copper, and silver mineralisation in the subsurface; rock chip and grab sampling of accessible outcrops and mineralised float, targeting known historical gold, copper, and silver occurrences and any new mineralised expressions identified during the field program; sample logging, preparation, and strict chain of custody protocols throughout the entire sample collection, packaging, and sampling process to ensure sample integrity and the reliability of all analytical results; geological mapping across both permit areas, including documentation of rock types, structural features, alteration assemblages, and surface mineralisation expressions, with all observations recorded with GPS-accurate coordinates.

All samples collected during the field program have been professionally packaged, properly documented, and submitted to an accredited, independent analytical laboratory under strict chain of custody protocols. Analytical results are still outstanding and are expected to be received shortly.

The Kalvträsk project, the Company's flagship project, covers approximately 7,000 hectares in Västerbotten County, located on the margin of the Skellefteå mining district. This district has produced significant quantities of gold, copper, and silver from almost 30 mines over the past century. The original Boliden mine alone produced 128 tonnes of gold, 411 tonnes of silver, and 118,000 tonnes of copper during its operating life from 1925 to 1967. Historical exploration at Kalvträsk in the 1970s identified four mineralised boulders within the permit area with gold grades between 4 and 20 g/t Au, which may indicate a bedrock source upstream in the direction of ice movement. Boulder tracing of this kind has led to many economically significant discoveries in Scandinavia and is a well-proven and effective exploration tool in glaciated terrains such as northern Sweden.

The Stöverfors project, covered by permit Stöverfors nr 99, covers 451.93 hectares in Skellefteå municipality, located directly within the Skellefteå mining district, approximately 30 kilometers from the town of Skellefteå. The property is easily accessible via local roads and benefits from the district's well-developed mining infrastructure, which has supported continuous production since the 1920s. Stöverfors has two mineralised occurrences registered with the Swedish Geological Survey (SGU), one of which is classified as 'noteworthy prospecting'. The property lies within the Skellefteå district, which hosts gold, copper, and silver-bearing VMS deposits. Historical hand samples from arsenopyrite-bearing quartz veins on the property have returned gold grades of up to approximately 32 g/t Au. For context, ore treated at Boliden's Skellefteå-area concentrator in 2005 graded approximately 1.5% copper, 78 g/t silver, and 2.1 g/t gold, together with 6.1% zinc.

Despite these compelling historical indications, to the Company's knowledge, no modern drilling, detailed ground geophysical surveys, or systematic geochemical programs had been completed at Stöverfors before this program. The Company's inaugural field program has now completed the first systematic geochemical sampling of the property, and results are awaited with anticipation.

Svea Mining AB is excited about the forthcoming results. The completion of this first-phase field program represents the culmination of significant planning and fieldwork, and the Company can hardly wait to share the analytical results with its shareholders as soon as they are available. Both properties lie in or on the margin of a metallogenic district that has hosted almost 30 mines over a century of documented production, including the Boliden mine, once Europe's largest and richest gold mine. Both bear historical indications of gold mineralisation that, to the Company's knowledge, have not been followed up with modern techniques. And both have now been systematically sampled, to the Company's knowledge, for the first time with rigorous, modern geochemical methods under strict chain of custody protocols.

Subject to the results of the laboratory analysis, financing, and the required permits and work plans, the Company intends to move to the design and execution of a drill program targeting the most compelling anomalies identified by the geochemical and geological data. Drilling will represent a transformative step for Svea Mining AB and provide the first direct testing of the mineralised systems at depth at either of the Company's projects.

The Company will provide shareholders with a full update on laboratory results and the timeline and design of the planned drill program as soon as results have been received and interpreted. Shareholders are encouraged to follow the Company's announcements through the Company's website at www.sveamining.com.

Svea Mining AB is a Swedish mineral exploration company exploring for gold, copper, and silver across approximately 7,500 hectares of highly prospective ground in the Skellefteå volcanogenic massive sulphide (VMS)