In the second week of April, 2026, Nidhogg Resources Holding AB (publ) (the "Company") conducted a ground-based magnetic survey of the Sellnäsfältet exploration permit (51 ha) in the municipality of Borlänge, which confirms a clear and coherent magnetic anomaly with a main northwest-southeast orientation.

Main results

• The northwest-southeast continuous magnetic structure shows an extension of 800-1 100 metres and a transverse width of 150-200 metres.
• The anomaly values are mainly between 53,000 and 54,500 nT, with a measured peak value of 57,300 nT.
• The highest values align with historically producing iron ore mines, indicating continuity in the iron-bearing structure.
• Local influences from ferromagnetic disturbances (e.g. metal objects and mine holes) were identified but are not considered to affect the geological interpretation.

Geological background

The Sellnäs field is located in Bergslagen, one of Europe's most historically significant iron ore districts. SGU reports 32.7% Fe in the area, and REE-occurrences are within two kilometers distance.

The northwest-southeast oriented magnetic anomaly is consistent with regional ore-bearing zones in Bergslagen, where apatite iron ores at several sites in the region have shown clear REE-enrichment. Deposits such as Kopslahyttan and Blötberget exhibit REEs bound to apatite iron ores and banded iron ore formations. The combination of strong magnetism, historic iron ore mines, known iron- and nearby REE-deposits means that a potential REE-association at the Sellnäs field is geologically motivated to investigate further.

Next steps in exploration

1. Sampling of waste rock, tailings, exposed bedrock and boulders (20-30 samples).
2. Laboratory analysis (XRF/ICPMS) with focus on iron content and full REE-profile.
3. Identify priority drilling targets and conduct drilling based on aggregated geophysics and sampling.

"The northwest-southeast oriented magnetic structure at the Sellnäs field is distinct and pronounced. The magnetic amplitude is at the same levels as at our reference project in Vintjärn-Kölen, where iron ore has been confirmed. This indicates a geologically significant magnetite-bearing structure and makes the results very promising for the next stage", says Niclas Biörnstad, Nidhogg Resources Holding AB (publ).

Contact

Niclas Biörnstad, CEO Nidhogg Resources Holding AB (publ)E-mail: niclas@nidhoggresources.com
Phone: +46 70 7299769

About Nidhogg Resources Holding AB (publ)

Nidhogg Resources Holding AB (publ), www.nidhoggresources.se, is a Swedish limited liability company with a focus on natural resources. Nidhogg was founded by individuals with a total of over 60 years of experience in the commodities market, with backgrounds ranging from exploration to exploitation as well as sales and a passion for extracting raw materials by applying innovative technology together with existing infrastructure.