TORONTO, Canada, October 17, 2025 — First Nordic Metals Corp. (TSX-V: FNM, FNSE: FNMC SDB, OTCQX: FNMCF, FRA: HEG0) (“First Nordic” or the “Company”) announces that, in connection with its proposed acquisition of all the issued and outstanding common shares of Mawson Finland Limited (TSX-V: FML) (“Mawson”) by way of a plan of arrangement (the “Transaction”) (see the press release of First Nordic and Mawson dated September 15, 2025 for additional details), the Company has agreed to to provide bridge financing to Mawson in the form of a loan of up to $1,000,000 to be advanced from time to time to Mawson in such principal amounts as agreed to by the parties (the “Loan”). Advances under the Loan are intended to be used for payment of various costs related to the Transaction and for general working capital and corporate purposes.

Interest under the Loan accrues at 8% per annum. Neither the principal amount nor the interest under the Loan is convertible into securities of Mawson and no loan bonus or finder’s fees are being paid in connection with the Loan. The Loan becomes due an payable on January 30, 2026 if the Transaction has not closed by such date. Closing of the transaction is currently expected in mid-December 2025.

In addition, the Company has agreed to issue Taj Singh C$1.0 million of common shares of the Company (the “Retirement Shares”) in connection with Mr. Singh stepping down as Chief Executive Officer of the Company in September upon announcement of the Transaction, all in accordance section 6.4 of TSXV Policy 4.4. (Security Based Compensation). This issuance is instead of Mr. Singh participating in the recently closed

subscription receipt financings of the Company as was indicated in the Company’s press release dated September 15, 2025. The Retirement Shares will be issued at a deemed price of C$0.38 per share and will be subject to the Exchange Hold Period (as such term is defined in the policies of the TSX Venture Exchange (the “TSXV”)) when issued. The issuance of the Retirement Shares remains subject to the approval of the TSX Venture Exchange (the “TSXV”).

About First Nordic Metals Corp.

First Nordic Metals Corp. is a Canadian-based gold exploration company, consolidating assets in Sweden and Finland, with a vision to create Europe’s next gold camp. First Nordic’s flagship asset is the Barsele gold project in northern Sweden, a joint venture project with senior gold producer Agnico Eagle Mines Limited. Immediately surrounding the Barsele project, First Nordic is 100%-owner of a district-scale license position comprised of two additional projects (Paubäcken, Storjuktan), which combined with Barsele, total approximately 80,000 hectares on the Gold Line greenstone belt. Additionally, in northern Finland, First Nordic is the 100%-owner of a district-scale position covering the entire underexplored Oijärvi greenstone belt, including the Kylmäkangas deposit, the largest known gold occurrence on this belt.