KOPY GOLDFIELDS PROVIDES GUIDANCE FOR 2021 GOLD PRODUCTION AND CAPEX

INSIDE INFORMATION: Kopy Goldfields AB's (publ) ("Kopy Goldfields" or "the Company") target is to produce 56 koz to 59 koz of gold equivalent (GE[1]) in 2021, an increase of 5-11% compared to 53.1 koz of GE produced in 2020. The Company plans capital expenditures of around USD 56 million in 2021 on production growth and exploration projects. The expenditures will be funded through existing available debt facilities and expected cash flow from production.

Production
In line with the plans to double gold production by 2025 to more than 100 koz per year, Kopy Goldfields' target is GE production of 56-59 koz in 2021, an increase of 5-11% compared to the production of 53.1 koz in 2020.

The increase in gold production is primarily expected from the Yubileyniy project, where the Company aims both to increase the output from heap leach (HL) operations and to commission the 250 ktpa processing capacity in Q4 2021. In addition, some production growth is expected from alluvial mining, which significantly underperformed in 2020 due to the COVID-19 restrictions.

Capital expenditures
The Company plans to increase capital construction expenditures in 2021 to around USD 48 million in line with long-term development plans to increase gold production. The key production growth projects will include:

  • Maluytka project, where Kopy Goldfields plans to process 1.5 mtpa of ore through HL operations and initiate gold production in 2023.
  • Yubileyniy project, where the Company is continuing construction activities to extend processing capacity to 250 ktpa by Q4 2021. In parallel, the Company will develop the underground (UG) mine down to 850 meters horizon above sea level.
  • Perevalnoe project, which will transform from open pit operations to underground mining in 2021. In addition, HL operations with annual capacity of 200 kt of ore will commence in 2021 with initial gold production anticipated in 2022.

In addition, the Company plans several exploration projects in 2021 with a budget of approximately USD 8 million:

  • Yubileyniy project, Khabarovsk region: 12,500 meters drilling program at the Krasivoe deposit targeting gold mineralisation at depth.
  • Perevalnoe project, Khabarovsk region: 6,000 meters drilling program on the flanks and within the vicinity of the Perevalnoe deposit.
  • Maly Patom project, Irkutsk region: Continue prospecting within the license area including 1,500 meters drilling program.
  • Krasivoe deposit, Khabarovsk region: Commence prospecting within the Ket-Kap area including 6,000 meters drilling program.
  • Krasny project, Irkutsk region: 26,000 meters drilling and exploration program to reserves.
  • Continue alluvial exploration activities.

The initiated capital construction and exploration programs will be financed through existing available debt facilities and cash flows from current gold production.

[1] Gold is the primary product of the Company. Silver production in 2020 totalled 97 koz (3,026 kg), which was equivalent to 1.36 koz (42.15 kg) of gold and represented 2.5% of the total 2021 gold equivalent production. The conversion ratio from silver to gold varies based on the relation between actual gold and silver prices: for the twelve months of 2020 the applied average conversion ratio for silver was 1:72 Ag/Au.

Competent person
Alexander Polonyankin, a competent person under JORC and member of Australasian Institute of Mining and Metallurgy, MAusIMM (CP), has reviewed and approved the technical information relating to operations covered in this press release.

Responsible party
Kopy Goldfields is obliged to make this information public in accordance with EU Market Abuse Regulation 596/2014. The information in this press release has been made public through the agency of the responsible persons set out below for publication at the time stated by Kopy Goldfields news distributor beQuoted at the publication of this press release.

Stockholm, January 28, 2021

For more information, please contact:
Mikhail Damrin, CEO, +7 916 808 12 17, [email protected]
Tim Carlsson, CFO, + 46 702 31 87 01, [email protected]

About Kopy Goldfields
Kopy Goldfields is a leading Swedish gold exploration and production company operating in the most renowned gold mining regions of Russia. Kopy Goldfields' strategy is to combine Russian geologic knowledge and science with international management, best industry practices and modern, efficient technology to identify and develop mineral deposits in a cost-efficient, safe and transparent way. The Company is listed on Nasdaq First North Growth Market in Stockholm.

Kopy Goldfields applies International Financial Reporting Standards (IFRS), as approved by the European Union. Stockholm Certified Advisers acts as Certified Adviser, contact number: +46 707 94 90 73, e-mail: [email protected].

The Share
Ticker: KOPY
http://www.nasdaqomxnordic.com/shares/microsite?Instrument=SSE77457
Outstanding shares: 886,005,575

Forward-looking statements
This press release contains forward-looking statements that reflect the Company's and the company group's intentions, beliefs, or current expectations about and targets for the Company's and the company group's future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company and the group operates. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "intend", "may", "plan", "estimate", "will", "should", "could", "aim" or "might", or, in each case, their negative, or similar expressions. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions. The forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, (i) changes in the economic, regulatory and political environments in the countries where Kopy Goldfields operates; (ii) changes relating to the geological information available in respect of the various projects undertaken; (iii) Kopy Goldfields' continued ability to secure enough financing to carry on its operations as a going concern; (iv) the success of its potential joint ventures and alliances, if any; (v) exchange rates, particularly between the Russian rouble and the U.S. dollar. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurances that they will materialize or prove to be correct. Because these statements are based on assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome could differ materially from those set out in the forward-looking statements as a result of many factors, including but not limited to risks and uncertainties surrounding any gold production and exploration company at an early stage of its development. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this press release by such forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements in this press release are free from errors and readers of this press release should not place undue reliance on the forward-looking statements in this press release. The information, opinions and forward-looking statements that are expressly or implicitly contained herein apply only as of its date and are subject to change without notice. Neither the Company nor anyone else undertake to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this press release, unless it is required by law or Nasdaq First North Growth Market rule book for issuers.


Inbjudan till presentation av Kopy Goldfields andra kvartal 2021

Kopy Goldfields AB (publ) publicerar kvartalsrapporten för andra kvartalet 2021 torsdagen den 26 augusti 2021 kl. 08:00. Kopy Goldfields inbjuder till en webbsänd telefonkonferens samma dag kl 10.00 där VD Mikhail Damrin och CFO Tim Carlsson presenterar och kommenterar rapporten.


KOPY GOLDFIELDS PUBLICERAR OPERATIONELL UPPDATERING FÖR ANDRA KVARTALET 2021

Kopy Goldfields AB (publ) ("Kopy Goldfields" eller "Bolaget") publicerar härmed en operationell uppdatering för andra kvartalet 2021. Produktionen av guldekvivalenter ("GE"*) ökade med 69% jämfört med första kvartalet 2021. Produktionsguidningen för 2021 är oförändrad. Covid-19 fortsatte att påverka guldproduktionen huvudsakligen till följd av brist på kvalificerad gruvpersonal.


Kommuniké från årsstämma i Kopy Goldfields

Årsstämman i Kopy Goldfields AB (publ), ("Kopy" eller "Bolaget") hölls idag den 27 maj 2021 varvid aktieägarna fattade följande beslut.


Announcement from Kopy Goldfields annual general meeting

The annual general meeting of Kopy Goldfields AB (publ), ("Kopy" or the "Company") was held today on 27 May 2021 and the following resolutions were passed by the meeting.


Kopy Goldfields AB (publ) Kvartalsrapport januari - mars 2021

Januari-mars 2021 (januari-mars 2020)

  • Intäkter 19 362 TUSD (23 125), -16 %
  • EBITDA 7 181 TUSD (9 277), -23 %
  • Resultat före skatt 10 014 TUSD (5 012), +100 %
  • Periodens resultat 7 870 TUSD (3 926), +100 %
  • Resultat per aktie före utspädning 0,01 USD (0,01)
  • Produktionen påverkades av konsekvenserna av covid-19-utbrottet vid Yubileyniy-gruvan i december 2020.
  • 2021 års estimat för guldproduktionen på 56-59 koz oförändrat

KOPY GOLDFIELDS AB (publ) Interim Report January - March 2021

January - March 2021 (January - March 2020)

  • Revenue TUSD 19,362 (23,125), -16%
  • EBITDA TUSD 7,181 (9,277), -23%
  • Profit before tax TUSD 10,014 (5,012), +100%
  • Profit for the period TUSD 7,870 (3,926), +100%
  • Earnings per share before dilution USD 0.01 (0.01)
  • Production affected by consequences of the outbreak of Covid-19 at the Yubileyniy mine in December 2020.
  • 2021 gold production guidance of 56-59 koz unchanged

Inbjudan till presentation av Kopy Goldfields första kvartal 2021

Kopy Goldfields AB (publ) publicerar kvartalsrapporten för första kvartalet 2021 torsdagen den 27 maj 2021 kl. 08:00. Kopy Goldfields inbjuder till en webbsänd telefonkonferens samma dag kl 10.00 där VD Mikhail Damrin och CFO Tim Carlsson presenterar och kommenterar rapporten.


Invitation to the presentation of Kopy Goldfields' first quarter 2021

Kopy Goldfields AB (publ) will publish the interim report for the first quarter 2021 on Thursday 27 May 2021 at 8:00 am (CEST). Kopy Goldfields has scheduled a webcasted conference call the same day at 10.00 CEST. CEO Mikhail Damrin and CFO Tim Carlsson will present and comment on the report.




Kallelse till årsstämma i Kopy Goldfields AB (publ)

Aktieägarna i Kopy Goldfields AB (publ), org.nr 556723-6335, ("Bolaget") kallas härmed till årsstämma torsdag den 27 maj 2021.


Notice of annual general meeting in Kopy Goldfields AB (publ)

The shareholders of Kopy Goldfields AB (publ), reg. no. 556723-6335, (the "Company") are hereby invited to the annual general meeting on Thursday 27 May 2021.


KOPY GOLDFIELDS PUBLICERAR OPERATIONELL UPPDATERING FÖR FÖRSTA KVARTALET 2021

Kopy Goldfields AB (publ) ("Kopy Goldfields" eller "Bolaget") publicerar härmed en operationell uppdatering för första kvartalet 2021. Covid-19-utbrottet i december 2020 påverkade guldproduktionen i början av 2021, vilket tidigare redovisats. Bolaget har emellertid tryggat säkerheten för sin personal mot pandemin och guldproduktionen har återhämtat sig under kvartalet. Produktionsestimatet för 2021 är oförändrat.


KOPY GOLDFIELDS PUBLISHES Q1 2021 OPERATIONAL UPDATE

Kopy Goldfields AB (publ) ("Kopy Goldfields" or "the Company") hereby announces an operational update for the first quarter 2021. As previously disclosed, the outbreak of COVID-19 in December 2020 affected the gold production in early 2021. However, the Company has secured the safety of its personnel against the pandemic and gold production has been recovering during the quarter. The 2021 production guidance is unchanged.


Kopy Goldfields AB (publ) Bokslutsrapport januari - december 2020

De konsoliderade finansiella räkenskaperna för Kopy Goldfields Koncernen ("Kopy Goldfields", "Bolaget"), för vilken Kopy Goldfields AB (publ) med organisationsnummer 556723-6335 är moderbolaget ("Moderbolaget"), redovisas här för det helår som avslutades den 31 december 2020. Efter transaktionen med Amur Zoloto har Kopy Goldfileds valt att byta rapporteringsvaluta från svenska kronor (SEK) till amerikanska dollar (USD). I enlighet med den svenska bokföringslagen redovisas moderbolagets finansiella information i SEK och inte koncernens rapporteringsvaluta som är USD.


KOPY GOLDFIELDS AB (publ) Year-end Report January - December 2020

The consolidated financial statements of the Kopy Goldfields Group ("Kopy Goldfields", "the Company"), of which Kopy Goldfields AB (publ) with corporate identity number 556723-6335 is the parent company ("the Parent Company"), are hereby presented for the full-year period ended on 31 December 2020. Following the transaction with Amur Zoloto, Kopy Goldfields has chosen to change the presentation currency from Swedish krona (SEK) to US dollars (USD). In accordance with the Swedish Accounting Act, the Parent Company's financial information is reported in SEK and not the Group's presentation currency of USD.


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