Kuniko Limited: Robust Cobalt Mineralisation Extensions Revealed at Middagshvile

Skuterud Cobalt Project's 2023 Drilling Campaign Unveils Extensions and High-Grade Discoveries.

Highlights:

Skuterud Cobalt Project

- Two Successful Drilling Campaigns: Kuniko's Skuterud Cobalt Project has achieved significant progress through two highly successful drilling campaigns, affirming the project's prospectivity and potential for high-grade cobalt mineralisation.

- Completion of Diamond Drill Core Assays: Final drill core assay from the 2023 drilling campaign at the Middagshvile cobalt prospect showcase substantial progress in both shallow and deeper target zones.

- Encouraging Assay Results: Yielding impressive intersections with high-grade cobalt intervals.

- Extension of Known Mineralisation: The findings unveil a promising extension of known mineralization towards the northern region, enhancing the project's potential for expansion.

- Exploration Achievements: The Middagshvile target has generated promising results, including significant assay intercepts, new mineralized horizons, and notable high-grade cobalt and copper discoveries.

- Strategic Field Reconnaissance: Field reconnaissance activities have revealed lithological associations guiding the targeting of additional mineralized zones and enhancing exploration strategies.

Drill Programme Assay Results Overview:

- KNI_MDV009: 5.0 m @ 0.05 % Co from 244.8 m, accompanied by various additional intervals showcasing diverse cobalt and copper grades.

- KNI_MDV010: 6.2 m @ 0.09% Co from 274.1 m, inclusive of high-grade cobalt intervals of 0.8 m @ 0.14 % Co and 1.0 m @ 0.13 % Co.

- KNI_MDV011: 6.2 m @ 0.43 % Co from 25.2 m in, including the highest-grade interval to date of 1.0 m @ 1.08 % Co from 30.4 m.

- KNI_MDV012: 2.1 m @ 0.21 % Co from 23.2 m.

- KNI_MDV013: 2.0 m @ 0.08 % Co from 28.8 m.

- KNI_MDV014: 8.3 m @ 0.11 % Co from 20.0 m, including significant intersections of 2.1 m @ 0.21 % Co from 24.0 m and 1.0 m @ 0.22 % Co from 21.0 m.

- KNI_MDV015: 2.1 m @ 0.13 % Co and 0.14 % Cu from 263.1 m.

- KNI_MDV016: 5.0 m @ 0.04 % Co and 0.17 % Cu from 228.7 m.

Antony Beckmand, CEO, commented:

“The success of this second drilling programme is a testament the dedication of our team. The Skuterud Cobalt Project's potential is becoming increasingly evident, and we look forward to the path forward and the value we can unlock for our stakeholders.”

Link to the complete original press release: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02696437-6A1162845?access_token=83ff96335c2d45a094df02a206a39ff4

About Kuniko

Kuniko is focused on the development of copper, nickel, and cobalt projects in Scandinavia and has expanded its interests to include prospects for lithium in Canada. Kuniko has a strict mandate to maintain net zero carbon footprint throughout exploration, development, and production of its projects.

Competent Persons Statement

Information in this report relating to Exploration Results is based on information reviewed by Dr Benedikt Steiner, who is a Chartered Geologist with the Geological Society of London and the European Federation of Geologists. Dr Steiner is an independent consultant of Kuniko Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr Steiner consents to the inclusion of the data in the form and context in which it appears.

Forward Looking Statements

Certain information in this document refers to the intentions of Kuniko, however these are not intended to be forecasts, forward looking statements, or statements about the future matters for the purposes of the Corporations Act or any other applicable law. Statements regarding plans with respect to Kuniko’s projects are forward looking statements and can generally be identified using words such as ‘project’, ‘foresee’, ‘plan’, ‘expect’, ‘aim’, ‘intend’, ‘anticipate’, ‘believe’, ‘estimate’, ‘may’, ‘should’, ‘will’ or similar expressions. There can be no assurance that the Kuniko’s plans for its projects will proceed as expected and there can be no assurance of future events which are subject to risk, uncertainties and other actions that may cause Kuniko’s actual results, performance, or achievements to differ from those referred to in this document. While the information contained in this document has been prepared in good faith, there can be given no assurance or guarantee that the occurrence of these events referred to in the document will occur as contemplated. Accordingly, to the maximum extent permitted by law, Kuniko and any of its affiliates and their directors, officers, employees, agents and advisors disclaim any liability whether direct or indirect, express or limited, contractual, tortuous, statutory or otherwise, in respect of, the accuracy, reliability or completeness of the information in this document, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement; and do not make any representation or warranty, express or implied, as to the accuracy, reliability or completeness of the information in this document, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement; and disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for negligence).

No new information

Except where explicitly stated, this announcement contains references to prior exploration results, all of which have been cross-referenced to previous market announcements made by the Company. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements.

Enquiries

Antony Beckmand, CEO

Telephone: +47 920 47 519

Email: [email protected]

Joel Ives, Company Secretary

Telephone: +61 8 6364 5095

Email: [email protected]

Authorisation

This announcement has been authorised by the Board of Directors of Kuniko Limited.

Highlights

Developing Copper, Nickel, Cobalt, Lithium, and other battery metals projects

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