• Airborne geophysical surveys identify multiple targets for follow-up at Finnmark project in Norway
• Permitting for drilling at the Penikat project in Finland continues to progress
• Exploration activities under BHP Alliance fully funded, with $1.44M spent in the quarter

Kingsrose Mining Limited (ASX: KRM) has provided an update on its exploration activities for the September 2025 quarter. Highlights include the identification of multiple targets for follow-up at the Finnmark project in Norway through airborne geophysical surveys, as well as continued progress on permitting for drilling at the Penikat project in Finland. The company also reported that exploration activities under the BHP Alliance were fully funded, with $1.44 million spent during the quarter. At the Finnmark project, a series of 14 clusters of magnetic anomalies have been detected by a recently completed aeromagnetic survey, coinciding with previously discovered geochemical anomalies. Follow-up fieldwork, including regional mapping, geochemical sampling, and age dating, is currently underway. In Finland, the Area 1 appeal for the Penikat project remains with the Administrative Court, and Kingsrose continues to be in regular contact with the court. The Area 2-5 Natura 2000 report is also under review by the local Environmental Regulatory Body and Metsähallitus, with a statement expected in November 2025.Kingsrose reported a cash balance of A$24.397 million as of 30 September 2025, down from A$27.287 million at the end of the previous quarter. The net cash outflow of A$2.89 million was primarily due to exploration expenditure of A$1.97 million, including A$1.44 million on projects under the BHP Alliance, and A$253,000 on the Penikat and Rana projects. Administrative and corporate costs, investor relations, and business development activities accounted for A$1.14 million, including a A$400,000 termination payment to the previous managing director.