NordX Metals Gains Strategic Advantage as Sweden Launches National Mineral Strategy and Recognizes Gold Line Belt

Sweden's National Mineral Strategy Sets 2030 Targets for Critical Metals Production

On July 23, 2026, the Government of Sweden unveiled a comprehensive national mineral strategy establishing ambitious goals for domestic mineral production and exploration. The strategy seeks to position Sweden as a competitive mining nation by streamlining permitting processes, expanding geological exploration, and upholding high environmental standards. For strategic raw materials, including lithium, the government mandates that extraction must be underway or environmental permits and exploitation concessions secured by 2030.

This announcement marks a pivotal policy shift in Sweden’s resource development approach. The government is pursuing increased extraction of concession minerals on market terms and highlighted the removal of the uranium exploration and mining prohibition effective January 1, 2026, as a significant step already implemented. These policy changes directly align with NordX's portfolio, which includes the Duobblon uranium and Bergby lithium projects. NordX President and Director Jon Franklin commented that these developments "clearly indicate Sweden’s direction and support investment in our project portfolio."

Gold Line Belt's Area of Importance Status Elevates Duobblon Project

On June 26, 2026, the Swedish Geological Survey officially designated the Gold Line Belt as an Area of Importance, benefiting NordX's Duobblon Uranium Project located within this region in Northern Sweden. Covering roughly 630 hectares, the Duobblon Project was initially explored by the SGU between 1976 and 1979 through drilling programs. An updated technical report for Duobblon was filed by NordX on March 10, 2026, accessible via the company's SEDAR+ profile.

This designation confirms the geological significance of the Gold Line Belt and may facilitate permitting and exploration activities within the zone. By recognizing the area’s mineral potential, the SGU has enhanced the strategic profile of projects like Duobblon. The timing aligns with NordX’s efforts to advance Duobblon toward development.

Bergby Lithium Project Prioritized Under Sweden’s 2030 Extraction Goals

NordX’s 100%-owned Bergby Lithium Project, spanning 7,897 hectares near Sweden’s Gulf of Bothnia coast, stands to benefit from the new mineral strategy. Designated as a project of national interest on December 9, 2024, Bergby remains in the exploration stage without an established mineral resource, though it has undergone significant drilling activity.

The project’s prior national interest status, combined with the 2030 extraction target for lithium in Sweden’s strategy, highlights Bergby’s alignment with government priorities. Lithium is explicitly identified among the raw materials targeted for accelerated development. While no updated resource estimates or specific timelines were disclosed, the company indicated that Bergby will continue to be developed.

Swedish Government Initiatives to Attract Global Exploration Investment

Sweden has introduced measures aimed at increasing its share of global non-ferrous metals exploration spending, currently at approximately 0.94%. The government seeks to attract more exploration companies, especially juniors, through permitting reforms, expanded geological mapping, and enhanced digital data access from the SGU to support exploration decisions.

Additionally, reviews of concession processing times, mining taxes, and fees are planned to create a more competitive regulatory environment. These reforms aim to reduce time and cost burdens for mineral exploration and development. While NordX did not quantify the potential impact, such changes could positively influence project timelines and operating costs.

Removal of Uranium Exploration Ban Opens New Opportunities

Effective January 1, 2026, Sweden lifted its prohibition on uranium exploration and mining, marking a fundamental regulatory shift. This change enables advancement of NordX’s Duobblon Uranium Project and signals governmental support for uranium as a strategic resource within Sweden’s energy and industrial policies. The lifting of the ban was cited as a concrete measure in the new mineral strategy.

This regulatory change preceded both the SGU’s Area of Importance designation and the mineral strategy publication, indicating a coordinated policy evolution toward expanded resource development.

Historical Geological Data Supports Duobblon Project Advancement

The Duobblon Uranium Project benefits from extensive geological exploration conducted by the SGU between 1976 and 1979, providing a valuable foundation of data and drilling results. NordX’s full ownership of the 630-hectare property allows it to build upon this dataset for further exploration and development.

An updated technical report filed on March 10, 2026, consolidates available geological information and is accessible on SEDAR+. The company did not disclose specific resource estimates or development milestones in this announcement, focusing instead on the strategic importance of the Area of Importance designation and supportive policy environment.

NordX’s Strategic Focus on Critical Minerals in Stable Jurisdictions

NordX positions itself as an exploration and development company targeting uranium, lithium, and rare earth elements to meet global demand. The company prioritizes projects in politically stable jurisdictions with infrastructure conducive to efficient exploration and development. Sweden fits this strategy well, given its political stability, infrastructure, and recent supportive policy changes.

NordX’s portfolio, including the Duobblon uranium and Bergby lithium projects, aligns with minerals emphasized in Sweden’s national strategy. The announcement does not provide details on the company’s financial status, funding needs, or project timelines beyond noting Bergby remains in exploration without an established resource.

Investor Guidance and Forward-Looking Statements

While highlighting positive regulatory and policy developments in Sweden, the announcement cautions that forward-looking statements involve risks and uncertainties. Identified risks include the possibility that float samples may not derive from bedrock sources, drilling may not locate in-situ mineralization, permit and title risks, timing uncertainties for surveys and drilling, and general exploration risks.

Additional risks cover metal price volatility, capital availability, regulatory approvals, environmental and permitting challenges, operational difficulties, title issues, competition, and broader economic conditions. The immediate impact on NordX’s share price was unclear at the time of release. Investors should note that anticipated benefits from Sweden’s mineral strategy and Area of Importance designation are based on management’s assumptions and are not guaranteed outcomes.

Access to Company Information and Technical Reports

NordX provides consolidated financial statements and management’s discussion and analysis on its corporate website at nordxmetals.com. The updated Duobblon technical report filed March 10, 2026, along with other regulatory filings, is available on SEDAR+ (sedarplus.ca).

This announcement was distributed via Newsfile Corp. on July 27, 2026, and includes details on the company’s board and management. Routine contact information has been omitted from this summary. The Canadian Securities Exchange has neither approved nor disapproved the announcement’s contents and disclaims responsibility for its accuracy or adequacy.