Maly Patom ("Northern Territories") exploration project - several gold anomalous areas and sulfide mineralizations discovered

Kopy Goldfields AB (publ) ("Kopy Goldfields" or "the Company") completed its 2019 exploration program at the Maly Patom ("Northern Territories" or "NT") project. Several gold anomalous areas were discovered, however not yet with commercial gold grades. Multiple sulfide mineralizations were identified confirming strong exploration potential of the area. The results confirm that the long-term target of making one or several +1 Moz discoveries within the Maly Patom licenses is achievable.

From September to November 2019, Kopy Goldfields conducted exploration activities within the Maly Patom area. A total of 2,505 meters of core holes were drilled, and 2,338 meters of trenches were developed and sampled within three previously identified gold anomalies, starting with the Zhelanny target and proceeding with the Alemakitskiy targets (see Figure 1 in the Attachment). In addition, a geophysical survey of 38 sq. km was done within the Zhelanny, Alemakitskiy and Russkaya Pech targets. The background and history of exploration activities on Maly Patom is summarized in the Attachment.

Zhelanny target

The Zhelanny exploration area was delineated based on historic exploration data from the predecessors supported by our own stream sedimentary and ground geochemical surveys in 2016 and 2017 (see Figures 2, 3, 4, 5 and 9 in the Attachments). Ten HQ core holes were drilled, logged and assayed totaling 1,460 meters. Average hole depth is 150 meters. In addition to drilling, four trenches totaling 1,347 meters were advanced. With a distance between trenches of 160 meters, the gold anomalous area was intersected in full. All trenches encountered permafrost. It was ascertained that the area is represented by metamorphic carbon-bearing calcareous and terrigenous rocks with alternation of phyllitic schists with interbeds of metasandstone and impregnations of indigenous pyrites. Sulfide mineralization is represented primarily by pyrite. Within trench #403001 inclusions of galena hosted in quartz-calcareous veinlets were discovered. Although several intersections identified anomalous gold content including visible gold grains, unfortunately most of the gold grades were below commercially minable levels. Forty-four grab samples were collected within the newly acquired Polovinka license property in the continuation of the Zhelanny target. Six samples showed anomalous gold content.

Alemakitsky target

Following completion of explorations at the Zhelanny target, activities moved to the Alemakitsky area within the Malopatomsky license property. The Alemakitsky area was also delineated based on historic and our own exploration activities in 2016-2017 (see Figures 6, 7, 8 and 9 in the Attachments). Within the Alemakitsky area, we prospected two gold anomalous targets: Mezhdurechnaya and Sekuschaya. Eight HQ core holes were drilled, logged and assayed totaling 1,045 meters with an average hole depth of 100 meters. In addition to drilling, three trenches totaling 991 meters were excavated, logged and sampled. The area primarily comprises sedimentary rocks of Patom structure: terrigenous and terrigenous-calcareous rocks of the Upper Riphean. Sulfide mineralization is represented primarily by pyrite. We identified 130 samples with anomalous gold content with intervals up to 40 meters thick (including three intervals with gold grades above 0.5 g/t), however it is below commercial minable levels so far.

Geophysical survey

In addition to drilling and trench sampling, a geophysical drone survey was done on 38 sq. km of the Zhelanny, Alemakitskiy and Russkaya Pech targets. The survey included magnetic and gamma-spectrometry measurements.

Exploration results for 2019

In summary, the exploration results for 2019 revealed that several intervals with anomalous gold content at both the Zhelanny and Alemakitsky areas were intersected (see Figure 9 for cross sections), but no commercial gold mineralization was identified. Presumably, these intervals represent syngenetic concentrations of gold within carboniferous rocks that originated within the surrounding foot of oceanic slope and containing embryonic gold, a typical formation process for gold deposits in Lena Goldfields, including the famous Sukhoi Log-deposit, and in line with our expectations. Further exploration activities should proceed with identification of lithologic and stratigraphic variations in sequences with anomalous gold contents, an exploration model we have been following from the beginning.

"Although technically very challenging with complicated mobilization, supply and logistics, the 2019 exploration program was completed in full and generally on time. We focused on three out of 20+ previously identified gold anomalies and aimed to discover a gold deposit after the first drilling within the 1,940 sq.km license area, but mother nature turned out to be as complicated and mysterious as usual. We intersected several bedrock gold mineralizations and saw visible gold grains, but so far in uncommercial quantities. We use a textbook approach to exploration that allows us to further scale down the area. With the results we received, we are even more confident about the exploration potential of the area. New information will let us better target and plan further explorations at Maly Patom, and we are still convinced that there are big discoveries to be made," said Mikhail Damrin, CEO of Kopy Goldfields.

Stockholm, February 3, 2020

For the complete press release including images and maps see attached document.

For more information, please contact:

Mikhail Damrin, CEO, +7 916 808 12 17, mikhail.damrin@kopygoldfields.com

Tim Carlsson, CFO, + 46 702 31 87 01, tim.carlsson@kopygoldfields.com

About Kopy Goldfields AB

Kopy Goldfields AB (publ), listed on NASDAQ First North Growth Market in Stockholm, is a Swedish gold exploration company operating in the Irkutsk and Amur regions of Russia, which are two of the most gold rich areas in the world. The Company currently holds 15 licenses, grouped into four projects, which entitle the holder to explore for and produce gold. Kopy Goldfield's strategy is to create value by identifying and acquiring high potential gold projects, and then prospecting and exploring them until they reach the stage of being ready to be sold for cash or further developed in cooperation with a partner.

Kopy Goldfields AB applies International Financial Reporting Standards (IFRS), as approved by the European Union. Hagberg & Aneborn Fondkommission acts as Certified Adviser, contact number: +46 8 408 933 50,
e-mail: info@hagberganeborn.se.

The Share
Ticker: KOPY
http://www.nasdaqomxnordic.com/shares/microsite?Instrument=SSE77457
Outstanding shares: 103,825,869

Bokslutskommuniké januari - december 2019

Finansiell information för andra halvåret samt helåret 2019

  • Bolaget rapporterar ingen omsättning
  • Intäkter från försäljningen av Kopylovskoye-projektet 3,4 MSEK (-20,4), för helåret 6,4 MSEK (-20,4)
  • Resultat efter skatt -3,1 MSEK (-34,7), för helåret -3,7 MSEK (-44,0)
  • Summa totalresultat -9,3 MSEK (-0,9), för helåret -6,4 MSEK (-5,2)
  • Resultat per aktie före och efter utspädning -0,03 SEK (-0,40), för helåret -0,04 SEK (-0,52)
  • Periodens kassaflöde uppgick till -5,0 MSEK (6,3), för helåret -13,8 MSEK (14,2)
  • Investeringar i prospektering och licenser 6,0 MSEK (1,6), för helåret 6,0 MSEK (2,5)
  • Investeringar i joint venture 5,7 MSEK (5,1), för helåret 5,7 (5,1)
  • Likvida medel vid periodens utgång uppgick till 6,3 MSEK (20,1)
  • Styrelsen föreslår att ingen utdelning lämnas

Year End Report January - December 2019

Financial information July - December and full year 2019

  • The Company does not report any revenue
  • Income from sale of the Kopylovskoye project MSEK 3.4 (-20.4), full year MSEK 6.4 (-20.4)
  • Net income MSEK -3.1 (-34.7), full year -3.7 (-44.0)
  • Total comprehensive income MSEK -9.3 (-0.9), full year -6.4 (-5.2)
  • Earnings per share before and after dilution SEK -0.03 (-0.40), full year -0.04 (-0.52)
  • Total cash flow of MSEK -5,0 (6.3), full year -13,8 (14.2)
  • Investments in exploration work and licenses MSEK 6.0 (1.6), full year 6.0 (2.5)
  • Investments into joint ventures MSEK 5.7 (5.1), full year 5.7 (5.1)
  • Cash and cash equivalents amounted to MSEK 6.3 (20.1) at period end
  • The Board of Directors proposes that no dividend is paid

Kopy Goldfields participates in the PDAC 2020 conference

Kopy Goldfields is attending the PDAC 2020 conference in Toronto on March 1-4, 2020. The Company will be represented by Mikhail Damrin, CEO, and Tim Carlsson, CFO, who welcome all visitors to booth 2302.


Prospekteringsprojektet Maly Patom ("Norra territoriet") - flera guldanomalier och sulfidmineraliseringar upptäckta

Kopy Goldfields AB (publ) ("Kopy Goldfields" eller "Bolaget") har slutfört 2019 års prospekteringsprogram på Maly Patom-projektet ("Norra territoriet" eller "NT"). Flera guldanomalier upptäcktes, dock ännu inga med kommersiella guldhalter. Flera sulfidmineraliseringar identifierades och bekräftar att området har en stark prospekteringspotential. Resultatet bekräftar att det är möjligt att uppnå det långsiktiga målet om att göra en eller flera upptäckter om +1 Moz inom Maly Patom-licenserna.


Maly Patom ("Northern Territories") exploration project - several gold anomalous areas and sulfide mineralizations discovered

Kopy Goldfields AB (publ) ("Kopy Goldfields" or "the Company") completed its 2019 exploration program at the Maly Patom ("Northern Territories" or "NT") project. Several gold anomalous areas were discovered, however not yet with commercial gold grades. Multiple sulfide mineralizations were identified confirming strong exploration potential of the area. The results confirm that the long-term target of making one or several +1 Moz discoveries within the Maly Patom licenses is achievable.


Fältarbetet avslutat vid Maly Patom-projektet

Kopy Goldfields AB (publ) ("Kopy Goldfields" eller "Bolaget") har framgångsrikt genomfört det fältarbete som planerats för 2019 vid prospekteringsprojektet Maly Patom ("Northern Territories" eller "NT").


Field operations completed at the Maly Patom project

Kopy Goldfields AB (publ) ("Kopy Goldfields" or "the Company") has successfully completed all the planned scope of 2019 field operations for the Maly Patom ("Northern Territories" or "NT") exploration project.


Kopy Goldfields participates and speaks at the Minex Russia 2019 show

Kopy Goldfields will participate in the "MINEX Russia Mining and Exploration Forum", which will take place in Moscow on 9-10 October 2019 under the theme of "Foresight of the Russian Mining and Exploration Industry Development". During the show, we will present our company and projects for investors, potential partners and other stakeholders in one of the largest mining events in Russia.


De första hålen borrade i Maly Patom projektet

Kopy Goldfields AB (publ) ("Kopy Goldfields" eller "Bolaget") har påbörjat ett borrprogram vid prospekteringsprojektet Maly Patom ("Northern Territories" eller "NT"). Prospekteringsprogrammet syftar till att upptäcka guld inom en till tre tidigare identifierade guldanomalier. Hittills har sex hål borrats. Sulfidmineralisering har identifierats i flera prover och två prover innehåller synliga guldkorn.


First holes drilled at the Maly Patom project

Kopy Goldfields AB (publ) ("Kopy Goldfields" or "the Company") commenced a drilling program at the Maly Patom ("Northern Territories" or "NT") exploration project. The exploration program targets gold discoveries at one to three previously identified gold anomalies and so far, six holes have been drilled with sulfide mineralization identified in several samples and two samples containing visible gold grains.


Kopy Goldfields säkerställer ny finansiering om 15 MSEK

Kopy Goldfields AB (publ) ("Kopy Goldfields" eller "Bolaget") är glada att kunna tillkännage att ett nytt lån om 15 miljoner kronor har beviljats från Scandinavian Credit Fund I AB med avsikt att finansiera Bolagets verksamhet, inklusive det pågående prospekteringsprogrammet på Maly Patom-projektet. Samtidigt har också det befintliga långfristiga lånet om 30 miljoner kronor omförhandlats och förlängts. Ny förfallodag är 13 september 2022.


Kopy Goldfields secures new financing of MSEK 15

Kopy Goldfields AB (publ) ("Kopy Goldfields" or the "Company") is happy to announce that a new loan of SEK 15 million has been granted from Scandinavian Credit Fund I AB for the purpose of financing the Company's operations, including the current Maly Patom exploration program. At the same time, the existing long-term loan of SEK 30 million was renegotiated and extended. The new repayment date is September 13, 2022.


KOPY GOLDFIELDS AB (publ) Delårsrapport januari-juni 2019

Finansiell information för första halvåret 2019

  • Bolaget rapporterar ingen omsättning
  • Intäkter från försäljningen av Kopylovskoye-projektet 2,9 MSEK (0)
  • Resultat efter skatt -0,6 MSEK (-9,3)
  • Summa totalresultat 2,9 MSEK (-4,3)
  • Resultat per aktie före och efter utspädning -0,01 SEK (-0,11)
  • Periodens kassaflöde uppgick till -8,7 MSEK (8,0), inklusive betalda räntor -2,8 MSEK (0) och upptagna lån 0 MSEK (15)
  • Investeringar i prospektering och licenser 0 MSEK (0,9)
  • Investeringar i joint venture 0 MSEK (0)
  • Likvida medel vid periodens utgång uppgick till 11,4 MSEK (13,8)

KOPY GOLDFIELDS AB (publ) Half Year Report January - June 2019

Financial information half year 2019

  • The Company does not report any revenue
  • Income from sale of the Kopylovskoye project MSEK 2.9 (0)
  • Net income MSEK -0.6 (-9.3)
  • Total comprehensive income MSEK 2.9 (-4.3)
  • Earnings per share before and after dilution SEK -0.01 (-0.11)
  • Total cash flow MSEK -8.7 (8.0), including paid interest of MSEK -2.8 (0) and new loans MSEK 0 (15)
  • Investments in exploration work and licenses MSEK 0 (0.9)
  • Investments into joint ventures MSEK 0 (0)
  • Cash and cash equivalents amounted to MSEK 11.4 (13.8) at period end

Kopy Goldfields påbörjar borrprogram i Maly Patom-projektet ("Norra Territoriet")

Kopy Goldfields AB (publ) ("Kopy Goldfields" eller "Bolaget") påbörjar ett borrprogram vid prospekteringsprojektet Maly Patom ("Norra Territoriet" eller "NT") som inriktar sig på guldfyndigheter vid en till tre tidigare identifierade guldanomalier.


Kopy Goldfields commences drilling program at the Maly Patom ("Northern Territories") project

Kopy Goldfields AB (publ) ("Kopy Goldfields" or "the Company") is commencing a drilling program at the Maly Patom ("Northern Territories" or "NT") exploration project targeting gold discoveries at one to three previously identified gold anomalies.


Nettonuvärdet (NPV) för Krasny varierar mellan 100 och 300 MUSD före skatt enligt ny preliminär förstudie

Kopy Goldfields AB (publ) ("Kopy Goldfields" eller "Bolaget") är glada att kunna presentera nya positiva resultat från den oberoende preliminära förstudien (eng: "scoping study") avseende företagets andel på 49 % i guldprojektet Krasny, som ligger i Irkutsk-regionen i Ryssland. Den preliminära förstudien, utförd av AMC Consultants Pty Ltd i Perth, Australien (AMC), omfattar flera produktionsscenarier för att utveckla Krasny-projektet, antingen som ett rent dagbrott eller som en kombination av dagbrott och underjordsgruva, med en årlig bearbetningskapacitet mellan 0,4 Mt (miljoner ton) och 3 Mt. Alla scenarier ger positiva NPV före tillämpning av potentiella skatteförmåner.


Net present value (NPV) for Krasny varies from MUSD 100 to MUSD 300 pre-tax according to new Scoping study

Kopy Goldfields AB (publ) ("Kopy Goldfields" or "the Company") is pleased to announce new positive results from the independent scoping study for its 49% stake in the Krasny gold project, located in the Irkutsk region of Russia. The scoping study, performed by AMC Consultants Pty Ltd from Perth, Australia (AMC), provides several production scenarios for developing the Krasny project either as an open pit alone, or combined open pit and underground mine, with annual processing plant throughput capacities varying from 0.4 Mt to 3 Mt. All scenarios would return positive NPVs before application of potential tax benefits.


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