Gruvaktiebolaget Viscaria · OMXSTO:VISC
Gruvaktiebolaget Viscaria — Technical Presentation (November 2025)
59 slides from Gruvaktiebolaget Viscaria's technical presentation, November 2025
Slide 1: PERC Table 1 Viscaria Exploration Results, Q3 2025
PERC Table 1 Viscaria Exploration Results, Q3 2025 NOVEMBER 2025 1
Slide 2: Table of Contents
Table of Contents PERC REPORTING STANDARD ................................................................................................................. 1 Section 1 Project Outline ....................................................................................................................
Slide 3: Table of Contents (continued)
6.1. Estimation and Modelling Techniques..................................................................................... 41 6.2. Classification Criteria ............................................................................................................... 43 6.3. Reporting ............
Slide 4: PERC Reporting Standard: Introduction
Table 1. PERC Reporting Standard PERC REPORTING STANDARD Section 1 Project Outline 1.0. Introduction – General Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (i) The terms of reference or scope of work. • Reporting of PERC (2021) compliant Exploration Results
Slide 5: 1.0 Introduction – General
1.0. Introduction – General Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (iv) Sources of information and data contained in the report or used in its See APPENDIX 2 preparation, with citations if applicable, and a list of references. (v) A title page and a ta
Slide 6: 1.1 Property Description
1.1. Property Description Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (ii) Describe (noting any conditions that may affect possible prospecting/mining • The location of the mine site, 150 km north of the Arctic Circle and activities) topography, elevation,
Slide 7: 1.2 Location
1.2. Location Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (i) Describe (noting any conditions that may affect possible prospecting/mining • The A, B, D and ABBA zones of the Viscaria Copper Project (the activities) topography, elevation, drainage, fauna and
Slide 8: 1.4 History
1.4. History Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (i) State historical background to the project and adjacent areas concerned, • There has been very limited mining in the B Zone and no mining in including known results of previous exploration and min
Slide 9: 1.5 Legal Aspects and Permitting
1.5. Legal Aspects and Permitting Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (i) A statement from the Competent Person on the confirmation of the legal • The Competent Person has verified the company's tenure in the tenure, including a description of (the
Slide 10: 1.5 Permitting and 1.6 Royalties
1.5. Legal Aspects and Permitting Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (vi) Provide a statement relating to governmental/statutory requirements and • The final environmental permit for mining was approved in April 2025. permits as may be required, ha
Slide 11: 1.7 Liabilities
1.7. Liabilities Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (i) Describe any liabilities, including rehabilitation guarantees that are • The mine area will have to be rehabilitated when operations cease. pertinent to the project. Provide a description of t
Slide 12: 2.1 Geological Setting, Deposit Type and Mineralisation Style
Section 2 Geological Setting, Deposit, Mineralisation 2.1. Geological Setting, Deposit Type and Mineralisation Style Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (i) Describe the regional geology. • The Viscaria Cu project is located in the center of the Kir
Slide 13: 2.1 Geological Setting, Deposit Type and Mineralisation Style
2.1. Geological Setting, Deposit Type and Mineralisation Style Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (ii) Describe the project geology including mineral deposit type, geological The bottom of the group is dominated by basaltic lavas, dolerite and sett
Slide 14: 2.2 Geological Setting, Deposit Type and Mineralisation Style
2.2. Geological Setting, Deposit Type and Mineralisation Style Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (ii) Describe the project geology including mineral deposit type, geological • The stratigraphy is overprinted by steeply dipping reverse faults with
Slide 15: 2.2 Significant Mineralised Zones
2.2. Geological Setting, Deposit Type and Mineralisation Style Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (vi) Describe the significant mineralised zones encountered on the property, • The property hosts four principal mineralised zones: A, B, ABBA, and in
Slide 16: 3.1 Exploration
Section 3 Exploration and Drilling, Sampling Techniques and Data 3.1. Exploration Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (i) Describe the data acquisition or exploration techniques and the nature, • The geological data for the project have been acquire
Slide 17: 3.1 Exploration
3.1. Exploration Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (vi) Discuss whether the data spacing and distribution is sufficient to establish • Drillhole spacing supports promising geological interpretations of the the degree of geological and grade contin
Slide 18: 3.2 Drilling Techniques
3.2. Drilling Techniques Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (v) Discuss the results of any downhole surveys of the drill holes. • Deviation surveys are regularly carried out during drilling and at the end of hole in order to monitor the drilling tr
Slide 19: 3.2 Drilling Techniques
3.2. Drilling Techniques Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (vi) Describe the method of recording and assessing core and chip sample • Where core cannot be assayed, results are diluted with 0 grade recoveries and results assessed, measures taken to
Slide 20: 3.4 Sample Preparation and Analysis
3.4. Sample Preparation and Analysis Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (ii) Identify the analytical method. Discuss the nature, quality and • Multielement method ME-MS61 has been utilized. It is considered appropriateness of the assaying and labor
Slide 21: 3.5 Sampling Governance
3.5. Sampling Governance Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (ii) Describe the measures taken to ensure sample security and the Chain of • Measures described by Viscaria Kiruna AB, 2025a and 2025b. Custody. (iii) Describe the validation procedures u
Slide 22: 3.7 Bulk Density
3.7. Bulk Density Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (i) Describe the method of bulk density determination with reference to the • Density measurements are focused in sampled intervals, with frequency of measurements, the size, nature and represent
Slide 23: 4.1 Geological model and interpretation
Section 4 Estimation and Reporting of Exploration Results, Mineral Resources and Mineral Reserves 4.1. Geological model and interpretation Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (i) Describe the geological model, construction technique and assumptions
Slide 24: 4.2 Estimation and modelling techniques
4.2. Estimation and modelling techniques Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (i) Describe in detail the estimation techniques and assumptions used to determine the grade N/A and tonnage ranges for any Exploration Targets, if reported in a Public Rep
Slide 25: 4.3 Reasonable prospects for eventual economic extraction
4.3. Reasonable prospects for eventual economic extraction Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (i) Disclose and discuss the geological parameters. These would include (but not be limited to) volume / tonnage, grade and value / quality N/A estimates,
Slide 26: 4.5 Reporting
4.5. Reporting Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (ii) Discuss whether the • No exploration targets are reported. reported grades in Exploration Targets are regional averages or if they are selected individual samples taken from the property under
Slide 27: 4.5 Reporting
4.5 Reporting Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (vi) Present a reconciliation with any previous Mineral Resource estimates. Where appropriate, report N/A and comment on any historical trends (e.g. global bias). (vii) Present the defined reference
Slide 28: 5.1 Introduction
Section 5 Technical Studies 5.1. Introduction Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (i) Not applicable to State the level of study State the level of study Exploration Results – whether Scoping, – whether Pre- Pre-Feasibility, feasibility, Feasibility
Slide 29: 5.2 Mining Design
5.2. Mining Design Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (i) not applicable to State assumptions Exploration Results regarding mining methods and parameters when estimating Mineral N/A Resources or explain where no mining assumptions have been made. (
Slide 30: 5.2 Mining Design
5.2 Mining Design Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (iii) not applicable to State what mineral resource models have been N/A Exploration Results used in the study. (iv) not applicable to State what mineral resource models have been N/A Exploration
Slide 31: 5.2 Mining Design and 5.3 Metallurgical Test work
5.2 Mining Design Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (ix) not applicable to State the optimisation Exploration Results methods and any software used in planning, list of constraints (practicality, plant, N/A access, exposed Mineral Reserves, stripp
Slide 32: 5.3 Metallurgical and Test work
5.3 Metallurgical and Test work Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (iv) not applicable to Discuss the nature, Exploration Results amount and representativeness of metallurgical test work undertaken and the recovery factors used. A detailed flow she
Slide 33: 5.3 Metallurgical Test work and 5.4 Infrastructure
5.3 Metallurgical and Test work Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (vi) not applicable to State whether the Exploration Results metallurgical process is well-tested technology or novel in N/A nature. If novel, justify its use in Mineral Reserve est
Slide 34: 5.4 Infrastructure and 5.5 Environmental, Social, Governance
5.4 Infrastructure Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (iii) Statement showing that all necessary N/A logistics have been considered. 5.5. Environmental, Social Performance, and Governance Exploration Results Mineral Resources Mineral Reserves Compe
Slide 35: 5.5 Environmental, Social Performance, and Governance
5.5 Environmental, Social Performance, and Governance Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (ii) Context: The project context is determined and described, including the following aspects: • The locality’s physical geography, centers of population, eco
Slide 36: 5.5 Environmental, Social Performance, and Governance
5.5 Environmental, Social Performance, and Governance Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (iv) Permits and permission: Identification of the necessary permits that will be required and their status, and where not yet obtained, and confirmation that
Slide 37: 5.5 Environmental, Social Performance, and Governance
5.5 Environmental, Social Performance, and Governance Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (ix) Opportunities for Legislated and or voluntary social development contributing to the programs that may be required and content and All public documents re
Slide 38: 5.5 Environmental, Social Performance, and Governance
5.5 Environmental, Social Performance, and Governance Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (xiii) Integrated Risk • Description of proposed mitigation plans for Management: identified modifying factors and management Description of actions taken to m
Slide 39: 5.6 Market Studies and Economic Criteria
5.6. Market Studies and Economic Criteria Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (ii) not applicable to Discuss any technical Describe product to be Exploration Results and economic factors sold, customer likely to influence the specifications, testing
Slide 40: 5.6 Market Studies and Economic Criteria
5.6. Market Studies and Economic Criteria Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (iv) Summary description, source and confidence of method used to estimate the Discuss any technical commodity price/value and economic factors profiles used for cut-off n
Slide 41: 5.6 Market Studies and Economic Criteria
5.6. Market Studies and Economic Criteria Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (vi) Justify assumptions made concerning production cost including transportation, treatment, penalties, exchange rates, N/A marketing and other costs. Provide details of
Slide 42: 5.7 Risk Analysis
5.7. Risk Analysis Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (i) A high-level Report an assessment of technical, • This report concerns near-mine exploration, within or directly assessment should be environmental, social, economic, political and adjacent
Slide 43: 5.8 Economic Analysis
5.8. Economic Analysis Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (ii) not applicable to At the relevant level (Scoping Study, Pre- Exploration Results feasibility, Feasibility or on-going Life-of Mine), N/A provide an economic analysis for the project tha
Slide 44: 6.1 Estimation and Modelling Techniques
Section 6 Estimation and Reporting of Mineral Reserves 6.1. Estimation and Modelling Techniques Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (i) not applicable to Describe the Mineral Resource estimate used Exploration Results as a basis for the conversion t
Slide 45: 6.1 Estimation and Modelling Techniques
6.1. Estimation and Modelling Techniques Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (iv) not applicable to A Mineral Reserve Exploration Results Statement in sufficient detail indicating if the mining is open pit or underground plus the source and type of
Slide 46: 6.2 Classification Criteria
6.2. Classification Criteria Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (i) Describe and justify criteria and methods used as the basis for the classification of the Mineral Reserves into varying confidence N/A categories, based on the Mineral Resource cat
Slide 47: 6.3 Reporting
6.3. Reporting Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (iii) Present the details of the defined reference point for the Mineral Reserves. State where the reference point is the point where the run of mine material is delivered to the processing plant. I
Slide 48: 6.3 Reporting and 6.4 Metal Equivalents
6.3. Reporting Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (v) Confirm that only Measured and Indicated Mineral Resources can be N/A considered for inclusion in the Mineral Reserve. (vi) State whether the Measured Mineral Resources and Indicated Mineral Res
Slide 49: 7.1 Audits and Reviews
Section 7 Audits and Reviews 7.1. Audits and Reviews Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (i) State type of review/audit (e.g. independent, external), area (e.g. • No formal independent or external review or audit has yet been laboratory, drilling, d
Slide 50: 8.1 Other Relevant Information
Section 8 Other Relevant Information 8.1. Other Relevant Information Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (i) Discuss all other relevant and material information not discussed N/A elsewhere. 47
Slide 51: 9.1 Competent Person Details
Section 9 Qualification of Competent Person(s) and other key technical staff. Date and Signature Page 9.1. Competent Person Details Exploration Results Mineral Resources Mineral Reserves Competent Person’s Report (CPR) (i) State the full name, registration number and name of the professional • Thoma
Slide 52: Appendix 1: Figures
APPENDIX 1: FIGURES Table of Figures Figure 1 Geological map of Norrbotten .......................................................................................... 50 Figure 2 Map of Viscaria’s tenures ................................................................................................
Slide 53: Figure 1 Geological map of Norrbotten
Figure 1 Geological map of Norrbotten 50
Slide 54: Figure 2 Map of Viscaria's tenures
Figure 2 Map of Viscaria’s tenures 51
Slide 55: Figure 3 Plan view of the B zone with drill hole VDD25013B
Figure 3 Plan view of the B zone, annotated with collar location and trace for drill hole VDD25013B (assays pending). 52
Slide 56: Figure 4 Long section view of the B zone
Figure 4 Long section view of the B zone, annotated with collar location and trace for drill hole VDD25013B (assays pending). 53
Slide 57: Figure 5 Long section of B Zone resource model, copper grade-thickness
Figure 5 Long section view of the B Zone resource model with copper grade-thickness distribution, annotated with collar location and trace for drill hole VDD25013B (assays pending). Copper grade-thickness map were prepared in Leapfrog using domain-constrained composited Cu (%) data merged with extra
Slide 58: Appendix 2: References
APPENDIX 2: REFERENCES Imana M., Armstrong R., Sandoval D., Jez M., Nkioh E., and Kroeckert M. 2023. “A geological update on the Viscaria Cu-Fe deposit, Kiruna District, Northern Sweden.” SGA 17th Biennial Meeting Proceedings 1: 363-365. Tasbicen K., Imaña M., Chávez W.X. Jr. 2023. “Sulfide Mineralo
Slide 59: Appendix 3: Certificate of Competent Person
APPENDIX 3: CERTIFICATE OF COMPETENT PERSON As the Competent Person responsible for the information on which the Public Report entitled “Viscaria Exploration Results, Q3, 2025“ is based, I hereby state: 1. My name is Thomas Lindholm. 2. I am a senior associate of GeoVista AB, Luleå, Sweden. 3. I am
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