Krasny project shows positive exploration results - further mineralization confirmed along the strike and closer to the surface

Kopy Goldfields AB (publ) is happy to announce positive results from the recent drilling program - further mineralization was added along the strike and closer to the surface, which allows for lower production costs.

During December 2012 - April 2013 the Company developed an exploration program on the Krasny site, which included both follow-up drilling of 2,495 meters on the Krasny South project and resampling of 343 meters of core from previous drilling programs (see Picture 1 in Appendix 1 for location of the drill holes and cross sections). The target of the drilling program was to outline the western continuation of the Krasny mineralization along the strike. The resampling program was triggered by resource modeling in late 2012, in which it was realized that some of the intervals initially anticipated to be barren, and hence not assayed with fire assay test for cost saving reasons, in fact now expected to be mineralized.

The results received confirm the expectations. Firstly, the bore hole #141477 in profile 22 confirms a continuation of the mineralization further to the west (see Appendix 2 for assay results), and together with the previously drilled holes, #141461 and #141463 in profile 16, the mineralization is traced 700 meters to the west of the last drill profile included in the reported resources. With these results, we confirm that the Krasny mineralization is traced by means of drilling for totally 1,668 meters along the strike.

Secondly, through resampling of formerly extracted core, mineralized sections were added to the Upper structure, close to the surface: 25.6m @ 1.33 g/t (hole #141430), 11m @ 2.1g/t (hole 141436), 7.45m @ 2.22 g/t and 10.9m @ 1.46 g/t (hole 141425), see Table 5 in Appendix 2 for more details. On the Pictures 4 to 7 in the Appendix 1, the new mineralized intervals are marked with circles. These results will add resources closer to the surface and enhance economics of gold mining with low stripping ratio.

Mikhail Damrin, CEO of Kopy Goldfields, commented the results: "We are pleased with the results received. We increase the volume of mineralization close to the surface where production and capital costs are relatively low. Considering the currently falling gold prices, this will add stability to our project and will allow starting pilot production from the surface with low costs and with the possibility to increase capacity later by going deeper. Our immediate next step on Krasny will be to complete a Feasibility Study in a partnership with another operator and we take active steps in this direction".

The technical information in this press release was reviewed by Alexander Mikhailov from Kopy Goldfields AB. Alexander Mikhailov is an exploration geologist with 31 years of professional experience in the gold exploration. Graduated from the Moscow Mineral Exploration Institute (The leading Soviet mineral exploration training establishment) in 1982. Fellow of the London Geological Society (1008536) and Society of Exploration Geochemistry.

Assay data for the drilled and resampled boreholes is presented in Appendix 2.

For the complete press release including tables, images and maps see attached document.
För pressmeddelande på svenska se bifogat dokument (Swedish)

Stockholm, June 26, 2013

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

The following documents can be retrieved from beQuoted
Kopy Goldfields Pressrelease 2013-06-26 (English).pdf
Kopy Goldfields Pressrelease 2013-06-26 (Swedish).pdf

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About Kopy Goldfields AB
Kopy Goldfields AB (publ), listed at NASDAQ OMX First North in Stockholm is a gold exploration and production company operating in one of the most gold rich areas in the world; Lena Goldfields, Bodaibo, Russia. The major owner is Eldorado Gold Corp. The company holds 100% of 15 bedrock exploration- and production licenses on 2,338 sq km. The target for Kopy Goldfields is to create value by identifying and acquiring high potential gold projects, prospect and explore them until the stage when it can be either sold out for cash or developed in cooperation with another partner under JV agreement.

Kopy Goldfields AB applies International Financial Reporting Standards (IFRS), as approved by the European Union. Aqurat Fondkommission acts as Certified Adviser, contact number: +46-8-684 05 800.

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