Nordic Iron Ore's involvement in the Smart Exploration program begins to generate benefits for the company by improving knowledge of both geological and structural information. This allows for more efficient continued exploration. The surveys provide NIO with improved knowledge of where potential mineral resources can be found in the Blötberget area, which is a valuable basis for future exploration work with the aim of increasing NIO's mineral resources and reserves, and can thus increase the life of the mine. Later this year, the research project is expected to present 3-dimensional geological and structural models, which are expected to provide more detailed views of the mineralization in NIO's mining area in Blötberget.

The attached appendix describes the field work done by Smart Exploration at NIO's deposits in Blötberget and some of the results achieved so far.