Boliden — Management Reports 2024

Feb 8, 2024

Mineral Resources as of December 31, 2023

		Quantity, ktonnes	2023
		2023	2022	Au g/t	Ag g/t	Cu %	Zn %	Pb %	Ni1) %	Co1) %	Pt g/t	Pd g/t	Te2) g/t	Mo g/t
Aitik area
Aitik	Measured	196,000	154,000	0.07	0.5	0.14
	Indicated	393,000	581,000	0.15	0.9	0.19
	Inferred	351,000	412,000	0.07	0.7	0.17
Nautanen	Measured
	Indicated	13,800	12,700	0.8	6	1.6								109
	Inferred	11,700	8,700	0.8	5	1.4								101
Boliden area
Sulfide mineralizations
Kristineberg	Measured	370	660	0.2	37	0.4	3.1	0.2
	Indicated	6,300	6,700	0.4	66	0.6	2.8	0.4
	Inferred	6,100	5,900	0.4	43	0.7	2.7	0.3
Petiknäs N	Measured
	Indicated	360	360	8.1	72	1.6	2.8	0.3
	Inferred	1,700	1,700	4.4	54	0.9	2.1	0.3
Renström	Measured
	Indicated	800	1,000	1.5	82	0.6	3.5	0.7
	Inferred	1,200	1,200	1.5	81	0.4	4.5	0.9
Strömfors	Measured
	Indicated
	Inferred	2,600	2,600	3.0	81	0.2	4.4	0.8
Total3) Sulfide mineralizations	Measured	370	660	0.2	37	0.4	3.1	0.3
	Indicated	7,500	8,100	0.9	68	0.7	2.9	0.4
	Inferred	11,600	11,400	1.7	57	0.6	3.2	0.4
Gold mineralizations
Kankberg	Measured	170	220	4.4	10								156
	Indicated	190	710	5.4	8								204
	Inferred	900	1,500	4.0	6								158
Älgträsk	Measured
	Indicated	1,100	1,100	2.8	5
	Inferred	3,500	3,500	2.0	4
Total3) Gold mineralizations	Measured	170	220	4.4	10
	Indicated	1,300	1,800	3.2	5
	Inferred	4,400	5,000	2.4	4
Garpenberg	Measured	70	70	0.24	108	0.03	2.8	1.0
	Indicated	21,600	21,600	0.41	70	0.06	2.7	1.3
	Inferred	67,900	67,400	0.34	57	0.05	2.3	1.1
Kevitsa	Measured	60,700	52,700	0.09		0.34			0.23	0.011	0.17	0.11
	Indicated	105,700	88,900	0.07		0.36			0.24	0.012	0.12	0.07
	Inferred	290	360	0.04		0.22			0.13	0.011	0.06	0.03
Tara	Measured	30	30				5.7	1.3
	Indicated	2,100	2,100				4.9	1.8
	Inferred	38,100	38,200				7.8	1.6
Laver	Measured
	Indicated	734,000	734,000	0.14	4	0.24								37
	Inferred	227,000	227,000	0.11	5	0.19								30
Rockliden	Measured
	Indicated	800	800	0.08	102	2.1	4.4	0.9
	Inferred	9,200	9,200	0.05	47	1.7	3.9	0.4

1) Kevitsa reports Ni and Co in sulphide compounds.

2) Te only in Kankberg.

3) Totals are calculated on precise values and sometimes apparent differences may occur in the totals.

Boliden reports Mineral Resources excluding Mineral Reserves to avoid double counting the same tonnage. This means quantities converted to Mineral Reserves are deducted from Mineral Resources.

Mineral Reserves as of December 31, 2023

		Quantity, ktonnes		2023
		2023	2022	Au g/t	Ag g/t	Cu %	Zn %	Pb %	Ni1) %	Co1) %	Pt g/t	Pd g/t	Te g/t
Aitik	Proven	110,000	126,000	0.08	1.1	0.18
	Probable	1,033,000	1,005,000	0.17	1.3	0.24
Boliden Area
Sulfide mineralizations
Kristineberg	Proven	560	360	0.3	67	0.8	3.9	0.4
	Probable	4,800	4,200	0.3	69	0.8	4.7	0.5
Renström	Proven	260	440	1.8	89	0.6	5.2	0.8
	Probable	4,800	4,200	1.8	101	0.3	5.7	1.1
Total2) Sulfide mineralizations	Proven	830	800	0.8	74	0.7	4.3	0.6
	Probable	9,600	8,300	1.0	85	0.5	5.2	0.8
Gold mineralizations
Kankberg	Proven	1,900	2,200	3.7	12								204
	Probable	1,900	1,600	4.0	7								183
Garpenberg	Proven	17,200	18,700	0.25	98	0.04	3.0	1.3
	Probable	83,700	90,600	0.31	88	0.05	2.5	1.2
Kevitsa	Proven	47,900	73,200	0.10		0.31			0.20	0.009	0.20	0.13
	Probable	34,200	28,000	0.08		0.32			0.21	0.010	0.17	0.11
Tara	Proven	700	1,100				6.5	1.4
	Probable	13,300	13,900				5.5	1.5

1) Kevitsa reports Ni and Co in sulphide compounds.

2) Totals are calculated on precise values and sometimes apparent differences may occur in the totals.