Nidhogg Resources Holding AB (publ) ("Nidhogg" or the "Company") announces that the Company is included as an industrial partner in a project application led by Luleå University of Technology within the framework of the Swedish Energy Agency's program Swedish Metals & Minerals. The application relates to the research and innovation project MAP-BIO-MINE, which aims to develop new, environmentally adapted and selective methods for the extraction and recycling of rare earth elements ("REE").

The project combines biotechnology, biomining and digital process models to enable cost-effective and chemical-efficient extraction methods. MAP-BIO-MINE addresses several of the EU's priority areas in critical raw materials and circular raw material supply. The Swedish Energy Agency's decision on financing is expected in the second quarter of 2026.

Nidhogg's planned contribution to the project

Subject to the project being granted funding, Nidhogg will be responsible for geological mapping, sampling and delivery of materials from two of the Company's project areas:

• Vintjärn, north of Falun
• Sellnäsfältet, south of Borlänge

The work includes sampling of mineralization and historical tailings material, geochemical characterization and production of documentation for the project's process development and technical economic analyses.

Relevance of the project areas

Vintjärn

The Vintjärn area includes a previously producing iron ore mine that is characterized by low levels of sulphur and phosphorus together with manganese. The area shows elevated levels of Cerium (Ce), Lanthanum (La), Neodymium (Nd) and Zircon (Zr) as analyzed by the ALS Minerals laboratory, which makes the area suitable for testing biomining-based-extraction methods.

The Sellnäs field

The Sellnäs field consists of iron formations with documented REE occurrence both west and east of the licence area, including cerium (Ce), lanthanum (La), neodymium (Nd), yttrium (Y) and zircon (Zr). Historical analyses show that surrounding areas show concentrations of up to approximately 1% REE, which makes the field relevant for both primary exploration and process development. The historical iron ore production conducted in the licence area is of an apatite-bearing type, similar to that in Idkerberget and the Kiruna area, where LKAB is exploring for REEs.

"With this application, we are taking a step towards enabling potential future development of sustainable extraction methods for critical raw materials. Vintjärn and the Sellnäs field represent two geologically important environments where Nidhogg can contribute data and material. We look forward to the Swedish Energy Agency's decision in the second quarter of 2026", comments Niclas Biörnstad, CEO, Nidhogg Resources Holding AB (publ).

"The project gives us the opportunity to evaluate protein-based separation and extraction methods on representative Swedish REEs. Nidhogg's sample material will help to ensure relevant data for the continued method development", comments Io Antonopoulou, project manager, Luleå University of Technology.

For further information, please contact:

Niclas Biörnstad, CEO Nidhogg Resources Holding AB (publ)

E-mail: niclas@nidhoggresources.com

Phone: +46 707299769

Or

Io Antonopoulou, project manager, Luleå University of Technology.

Phone: +46 706437179

E-mail: io.antonopoulou@ltu.se

About Nidhogg Resources

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 and sales, as well as a passion for extracting natural resources by applying innovative technologies together with existing infrastructure.