Capella Minerals begins reconnaissance diamond drilling at Killero W Gold-Copper Project, Finland

Capella Minerals Ltd. [TSXV: CMIL; OTC Pink: CMILF); FRA: N7D] reported the start of a reconnaissance diamond drill program at the Killero W gold-copper project in the Central Lapland Greenstone Belt, Northern Finland.

The Killero W project is one of five projects that form part of the Tümad Madencilik Sanayi Ve Ticaret A.S. (Tümad) earn-in Joint Venture for Northern Finland with the current drill program at Killero W following on from the recently completed 2,008-metre/nine-hole diamond drill program at Killero E.

The Northern Finland projects (Killero E, Killero W, Jolhikko, Seiseunselka, Saattopora W) are located 40km SW of Agnico Eagle Mines Ltd.’s [TSX: AEM; NYSE: AEM] producing Kittila Gold Mine, with all five projects now surrounded by Agnico following the successful closing of Agnico’s acquisition of Rupert Resources Ltd on June 16, 2026.

Highlights: A reconnaissance diamond drill program has been initiated at the Killero W gold-copper project. Drilling will be undertaken in two initial target areas – PKW-1 and PKW-2 – defined on the basis of Base of Till (BoT) gold-copper anomalies derived from historical Anglo American plc regional geochemical surveys, strongly magnetic host rocks (interpreted to be either fine-grained meta-gabbro or mafic metavolcanic rocks and favourable host rocks for gold-copper mineralization), and cross-cutting NE-trending fault/shear zones.

The current drill program represents the first diamond drilling to be undertaken in the Killero W project area.

Capella currently owns an 80% interest in the five Northern Finland projects, with the remaining 20% interest being held by Cullen Resources Ltd. [ASX: CUL]. Capella earned-in to its 80% interest in the five projects by meeting all of its exploration commitments as outlined in an earn-in agreement as announced on August 24, 2021.

Eric Roth, Capella’s President and CEO,commented: “I am very pleased to be announcing today the commencement of a maiden diamond drill program at the Killero W project. The initial focus will be on two gold-copper targets which are defined by coincident Base of Till anomalies, favourable host rocks, and highly prospective cross cutting structural corridors. Further potential also exists for the definition of additional target areas outside of these core areas. I look forward to keeping the market updated as we advance with drill testing at Killero W.”

Jolhikko and Seisunselka – Four reconnaissance Base of Till (BoT) and Top of Bedrock (ToB) survey lines were completed over the Jolhikko and Seisunselka gold targets in Northern Finland. A total of 102 BoT and 55 ToB samples were collected and sent to ALS Laboratories for analysis. A determination of potential targets for follow-up diamond drilling will be made as soon as all results have been reviewed and interpreted.

On January 15, 2026, Capella announced the signing of a Binding Letter of Intent with Verde Metals with respect to an Earn-In Agreement on the Solana Iron-Oxide Copper-Gold (IOCG) project in southern Spain. Work plans for the Solana project are currently in the process of being approved by the Andalucian Mining Authority, with field activities expected to begin in early Q3, 2026.

Capella announced on September 2, 2025, the signing of a Definitive Agreement with Turkish mining company, Tümad Madencilik Sanayi Ve Ticaret A.S. (Tümad), for a staged earn-in on the company’s portfolio of precious and base metal projects in Scandinavia. Tümad’s minimum Year 1 investment commitment includes up to 12,000 metres of diamond drilling on the company’s gold-copper projects in the Central Lapland Greenstone Belt of northern Finland and the Hessjogruva copper-cobalt-zinc VMS project in central Norway.

Capella also retains a carried 10% interest through to production on the Løkken copper-cobalt-zinc VMS project of central Norway through a partnership with Teako Minerals Corp. In addition, Capella holds Net Smelter Royalties on the Savant Gold Project in Ontario, Canada (BeMetals Corp.) and the Central Finland Lithium Projects (Grit Metals Corp.), as a result of the divestiture of non-core assets.