Kuusamo Schist Belt

Northern Finland

Latitude 66 has accumulated one of the largest exploration land holdings in Finland (around 1,000 km²) and currently owns the third largest undeveloped cobalt resource in Europe. Latitude 66 has unlocked the potential of the Kuusamo Schist Belt (KSB) with new discoveries, significantly increasing their gold and cobalt mineral resource inventory. Latitude 66 possesses gold and critical minerals projects spanning all stages of the exploration pipeline, from greenfield exploration targets to development stage.

Beyond the KSB, Latitude 66 is conducting regional exploration activities in the highly prospective Peräpohja Schist Belts (PSB), Kainuu Schist Belts (Kainuu) and Central Lapland Greenstone Belt (Kola and Kolari). Refer to Figure 1.

Kuusamo Schist Belt project areas

Latitude 66 has established two project areas with the KSB region being K North and K South (Refer to figure 2).

K North (K1, K2 and K3) contains a JORC compliant resource of 7.3Mt at 2.7g/t Au for 650,000oz and 0.8% Co for 5,840t with the following resource category:

1. Indicated – 5.9Mt at 2.9g/t Au for 554,000oz and 0.08% Co for 5,150t
2. Inferred – 1.4Mt at 2.0g/t Au for 93,000oz and 0.08% Co for 690t

Extensive exploration work has been undertaken across the K South targets, with Latitude 66 completing geophysical and geochemistry work programmes in 2020 and 2021 with follow up drilling in 2021 and 2022 resulting in the discovery of mineralisation prospects at K8, K9 and K10.

Highlights from the 2021 and 2022 drilling programme in K South include:

K9 drilling results:

• L66K9DD008: 13.5 m @ 6.3 g/t Au & 0.18 % Co from 21.1 m
• L66K9DD008: 13.8 m @ 3.6 g/t Au & 0.04 % Co from 62.7 m
• L66K9DD005: 11 m @ 3.3 g/t Au & 0.07 % Co from 73.35 m
• L66K9DD009: 12.2 m @ 1.8 g/t Au & 0.05 % Co from 118.9 m
• L66K9DD001: 50.2 m @ 0.45 % Co, 0.2 g/t Au from 124.75 m

K8 drilling results:

• L66K8DD001: 4.0 m @ 4.1 g/t Au & 0.03 % Co from 55.25 m to 59.2 m
• L66K8DD002: 3.8 m @ 9.5 g/t Au & 0.02 % Co from 77.9 m to 81.7 m
• L66K8DD002: 10.3 m @ 4.8 g/t Au & 0.04 % Co from 89.75 m to 100 m
• L66K8DD003: 9.3 m @ 4.3 g/t Au & 0.03 % Co from 23.9 m to 33.2 m

K10 drillling results:

• L66K10DD005: 4.8 m @ 4.1 g/t Au, 0.12 % Co from 322.7 m to 327.5 m.