On 14 February 2023, Sotkamo Silver published guidance for 2023 and defined medium-term operational and financial targets to support the implementation of the strategy.

Medium-term Targets

The Company's Board of Directors has decided on the following medium-term targets until 2025 to support the implementation of the strategy:

Annual silver production:

*) The verification is carried out by an independent auditor. More information about the mining liability system: www.kaivosvastuu.fi

The Company's profitability is significantly affected by external factors, such as metal prices, exchange rates, as well as energy prices. The achievement of guidance and medium-term targets requires above mentioned external factors to remain at the level forecasted by the market in mid-February 2023. Achieving the objective of extending the LOM requires sufficient financial resources to implement the drilling program.