Interim report for the first half year (January - June) 2020

The Board of Directors of Arctic Minerals AB (publ) ("Arctic Minerals", the "Company" or the "Parent company" and together with its subsidiaries the "Group") (the "Board") hereby submits an interim report for the period January - June 2020.

First half year (January - June) 2020

  • Capitalized exploration costs for the period amounted to MSEK 4.2 (1.5)
  • Profit after tax for the period was MSEK -5.5 (-1.9)
  • Earnings per share for the period amounted to SEK -0.06 (-0.02)
  • Cash and bank position amounted to MSEK 3.9 (3.2) at the end of the period

Significant events during the first half of 2020

  • On January 21, 2020 Arctic Minerals announced that it has signed a joint venture agreement with Rio Tinto Mining & Exploration Ltd regarding the Company's Finnish project Peräpohja. Rio Tinto Mining & Exploration Ltd is a subsidiary of the Rio Tinto Group, which is one of the world's largest mining companies. The agreement was subject to the completion of a satisfactory due diligence by Rio Tinto. See the section on Peräpohja copper Joint Venture project.
  • On February 17, 2020 the Company announced that the Board had appointed Jonatan Forsberg as new CEO of the Group. Jonatan subsequently took up the position from 1 March, 2020. See the section New CEO for Arctic Minerals.
  • On March 18, 2020 Arctic Minerals updated, through a press release, presented an update on the Company's exploration in northern and central Finland. Se the sections regarding Arctic Minerals various projects.
  • On May 15, 2020 Arctic Minerals announced that the Company had received confirmation of satisfactory due diligence from Rio Tinto on the joint venture agreement. See the section on Peräpohja copper Joint Venture project.
  • On June 24, 2020 the Company held its Annual General Meeting. See section Annual General Meeting in Arctic Minerals.

Important events after the period ending June 30, 2020

  • On August 26, 2020 Arctic Minerals, through a press release, presented an update on the ongoing exploration in northern and central Finland. See the section on Arctic Minerals' field work 2020.

Nordic junior mining company

Arctic Minerals is a Nordic junior mining company exploring for copper, zinc, gold and battery metals in northern and central Finland. The Group also owns mineral rights in Norway.

In Finland, Arctic Minerals holds 9 registered exploration reservation totalling 2,269 km2 and in addition 3 registered exploration permits totalling 27 km2.

Upcoming reports

As from fiscal year 2013, the Company reports only half and full year. The year-end report for 2020 will be published on Thursday, February 25, 2021.

For further information

See the Company's website at www.arcticminerals.se or contact:

Jonatan Forsberg, CEO

+(46) 76 105 1310
[email protected]

Certified Advisor

United Bankers Oy in Helsinki, Finland, (www.unitedbankers.fi) is the Company's Certified Adviser on Nasdaq First North Growth Market, Stockholm.

This information is information that Arctic Minerals AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU) 596/2014, and the Securities Market Act. The information was submitted for publication, through the agency of contact person set out above, at 11.45 on August 27, 2020.

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