Bluejay Mining plc, the AIM, FSE listed and Pink-Market traded exploration and development company with projects in Greenland and Finland, announced the start of low-cost and wide-ranging work programs to evaluate possible significant deposits of geological H₂ and helium (including other industrial gas) in the Outokumpu Belt. This work stream will include integrating all historical data including seismic.

Previously Identified Significant Findings:

• High Gas Concentrations: Historical deep drilling within the Outokumpu Belt, as reported by the Geological Survey of Finland (GTK), has revealed substantial concentrations of helium and H₂. Notably, the best intersection shows 100 meters at 5.6% helium within a broader 1,500-meter intercept at 1.5% helium
• Newly identified Results also include 80m @ 5.03% lithium (50,300mg/l) in deep brines within a larger section of 580m@ 1.16% lithium (11,623mg/l). By way of comparison brines from the "Lithium Triangle" (Argentina, Chile, and Bolivia). The Salar de Atacama in Chile have an average lithium concentration of about 0.14% lithium or 1,400 ppm
• Comparative Geology: The Outokumpu Belt's geology is similar to the Lorraine region in France, which hosts the world's largest known deposit of white H₂
• Deep Drilling Success: Gas samples from a 2,480-meter-deep drill hole, analyzed by the GTK, has revealed up to 46% geological H₂, highlighting the belt's potential for industrial gas reserves
• Extensive Historical Data: >2,000 historical drill holes provide robust foundation for fast-tracking gas assessment across the 40-kilometer license holding.

Upcoming Exploration Program:

• Surface Sampling: Historical drill hole and surface sampling will be undertaken using a portable H₂ and helium detector to measure concentrations of these gasses. This program will also aid in assessing the location and condition of historical drill holes for further sampling.
• Water Sampling: Water samples will be collected from a selection of deep boreholes and analyzed for H₂, helium, and other gases, establishing a baseline for gas presence and concentration.
• Flowmeter Testing: Groundwater flow rates will be measured to identify water-conductive fractures, aiding in locating potential gas-rich zones.
• Pumping Tests: Pumping tests will be conducted to understand the hydrogeological structures and flow characteristics, crucial for estimating recoverable gas volumes and production rates.
• Packer Testing: Specific borehole sections will be isolated to measure water flow and rock integrity, identifying permeable zones that could contain H₂ and helium.
• Borehole Magnetic Resonance (BMR): BMR logging will measure formation porosity and water volume, providing detailed geophysical data to enhance hydrogeological models and improve gas potential understanding.

Eric Sondergaard, Managing Director of Bluejay Mining, said, "These encouraging but preliminary indications of helium, H₂ and industrial gasses in the Outokumpu Belt are very encouraging. They present a significant opportunity for shareholders. We have started dialogue with European groups with regards to progressing future work streams in a manner that is not dilutive to existing shareholders. We will update stakeholders accordingly, in the meantime, work program details are currently being devised in close collaboration with local experts and regulators. This first pass evaluation of surface expressions of naturally occurring helium and H₂ will allow us to assess the conditions of existing boreholes and focus further phases of work. This encouraging opportunity is made possible by the vast datasets of high-quality historical data the Company has absorbed recently and the availability of numerous pre-existing deep drillholes, positioning us to potentially unlock substantial value for our shareholders for minimal cost and no dilution."