Valkea Resources Corp. (TSXV: OZ; OTCQB: OZBKF) has provided an update on its ongoing exploration activities at the Paana Project in northern Finland, where drilling and target development work are progressing into the fall season.

The company confirmed that more than 2,000 meters of diamond drilling have been completed at the Koivu Zone, a priority area located on the northern extent of the Aarnivalkea West target. Five holes have so far been drilled, with core from the first two already submitted for laboratory analysis. Assay results are expected in the coming weeks.

Focus on Koivu Zone Mineralization

The current campaign is designed to expand understanding of disseminated, bulk-tonnage gold mineralization at Koivu. Step-out holes have been completed along strike and up-dip, building on earlier results that returned significant intercepts. Previous drilling included hole FAVD647, which intersected 55.48 meters grading 1.63 g/t gold, including 8.50 meters at 8.57 g/t gold, and hole AW-24-0059, which cut 36.45 meters at 1.50 g/t gold, including 15.35 meters at 3.43 g/t and 2.75 meters at 12.92 g/t.

The Phase 1 program has been designed with systematic 50-meter step-outs, testing a footprint of roughly 250 by 100 meters to a depth of about 300 meters. The results will be used to assess mineralization continuity and guide planning for a proposed Phase 2 program that would include larger step-outs.

Upcoming Assays and Phase 2 Planning

According to Valkea, data from the initial five drill holes will determine next steps in advancing exploration at Koivu. While assays are pending, the company said the mineralization observed to date is encouraging and supports further drilling. Phase 2 work is expected to follow once results have been fully evaluated.

Target Generation Across Aarnivalkea West

In addition to diamond drilling, a base of till (BoT) program is scheduled to begin in the coming weeks. This work will focus on refining high-priority gold anomalies identified in earlier surveys and on investigating the western, eastern, and northern extensions of the broader Aarnivalkea West anomaly. The results are expected to provide a pipeline of new drill-ready targets.

The Aarnivalkea West target measures roughly 1.3 kilometers in strike length and is located approximately 24 kilometers northwest of Agnico Eagle’s Kittilä mine and 65 kilometers northwest of Rupert Resources’ Ikkari deposit. Both deposits are key benchmarks in Finland’s Central Lapland Greenstone Belt, a region considered highly prospective for gold.

Exploration at Paana is targeting both Kittilä-style high-grade mineralization, such as that seen at the Honka Zone, and Ikkari-style disseminated mineralization, as is the focus at Koivu. Valkea holds 100% ownership of the Paana Project.

Chris Donaldson, Valkea’s CEO and Executive Chair, commented on the progress in a press release: “We have now completed five holes at the Koivu Zone and are encouraged by the mineralization observed which will allow us to start planning for a Phase 2 program. Initial assay results are expected in the coming weeks, while the upcoming BoT program will provide another opportunity to define additional targets across the highly prospective Paana Project.”

The fall 2025 exploration campaign at Paana is aimed at systematically advancing the Aarnivalkea West target while also expanding the pipeline of new high-priority prospects. With drilling, sample analysis, and target generation programs underway, Valkea expects continued exploration results through the remainder of the year.