Karelian Gold Line Exploration

Group's exploration segment covering the Karelian Gold Line greenstone belt running through Ilomantsi municipality, Eastern Finland. Mineral resource exploration and evaluation expenses capitalised in Finland total MEUR 15.2 (2025) vs MEUR 10.9 (2024). 2025 exploration capex: MEUR 4.3. 2025 exploration fees paid to landowners ~MEUR 0.4. 2025 highlights: Ukko gold discovery on the Southern Gold Line (most significant achievement of the year) and encouraging Kartitsa results on the Northern Gold Line. 2026 exploration target: ~50,000 m drilling (more than double Endomines' historical record), with additional tungsten and molybdenum exploration alongside gold.