Killero West Exploration Permit Granted And Update On Maiden Drill Program at Killero East

VANCOUVER - Capella Minerals Ltd. has been granted an additional exploration permit covering the Killero West copper-gold target within the  highly-Central Lapland Greenstone Belt portfolio, Northern Finland. The Killero West permit complements the five exploration permits which were previously granted, including the Killero East permit where exceptional historical Base of Till (BoT) copper-gold anomalies were generated by Anglo American plc.

Capella currently expects scout core drilling of the priority Killero East target to commence in late Q1, 2024; this drill program would represent the first ever drill testing of the historical BoT copper-gold anomalies. Capella is also currently evaluating an initial diamond drill program on the Saattopora West target - the northwestern extension to Outokumpu Oy's former Saattopora gold-copper mining operation - during the northern 2024 summer.

Eric Roth, President and CEO, said, "I am very pleased to reported the granting of our Killero West exploration permit, which lies adjacent to our priority Killero East target and which covers a second area of significant BoT copper-gold anomalies generated by Anglo American's regional exploration programs over a decade ago. Indeed, given that BoT values over 110 parts per million (ppm) copper are considered to be anomalous in this part of the Central Lapland Greenstone Belt, the Killero East values up to 5,962 ppm copper are truly exceptional. Given that drilling is optimally undertaken here under cold winter conditions, we currently expect first drilling of the Killero East anomaly to occur in March, 2024. I look forward to keeping all stakeholders updated as our exploration programs advance."