Kopy Goldfields and GV Gold invest in the Krasny project

KOPY GOLDFIELDS AND GV GOLD INVEST IN THE KRASNY PROJECT

Kopy Goldfields AB (publ) ("Kopy Goldfields" or "the Company") and GV Gold have
agreed to invest further USD 1,960,000 into the Krasny project, whereof Kopy
Goldfields pro-rata share amounts to USD 960,400. The contribution will be used
for further development of the Krasny project within the 2016 exploration and
development program. 

The 2016 exploration and development program for the Krasny project totals MUSD
4.5. A major part of the program has been financed by the funds left from the
contribution of MUSD 6 done by GV Gold when they entered the project during
2014-2015. In order to finance the 2016 program in full, Kopy Goldfields and GV
Gold have agreed on a contribution to Bodaibo Holding Ltd, which is the Cyprus
Joint Venture holding company for the Krasny project. The total amount of the
capital contribution equals USD 1,960,000 and is shared 51/49 by GV Gold and
Kopy Goldfields. The equity shall be paid in two tranches: 30% of the
subscription to be paid by September 30, 2016 and the rest, 70% of the
subscription, to be paid by November 15, 2016. The first 30% installment has
been paid in full, both by Kopy Goldfields and GV Gold. 

Mikhail Damrin, CEO of Kopy Goldfields comments the news: "The recent years
Russian ruble devaluation against the Euro and USD significantly reduced all
operational costs in Russia and made the country one of the top low-cost gold
producers worldwide. During 2014-2015, we ran our exploration with a strong
positive budget surplus which allowed us to cover most of the 2016 exploration
activities, which is far better than our initial expectations of 2014. The
results from the current years exploration- and development program are
positive and both GV Gold and Kopy Goldfields see a lot of potential in the
Krasny-project. With this new equity contribution, we will finance the 2016
program in full and achieve the targets we have." 

Stockholm, October 5, 2016

For further information, please contact
Mikhail Damrin, VD, +7 916 808 12 17, mikhail.damrin@kopygoldfields.com
mailto:mikhail.damrin@kopygoldfields.com 
Tim Carlsson, CFO, + 46 702 31 87 01, tim.carlsson@kopygoldfields.com
mailto:tim.carlsson@kopygoldfields.com 

The following documents can be retrieved from beQuoted
Kopy Goldfields Pressrelease 2016-10-05 English.pdf -
http://www.bequoted.com/beQPress/download.asp?Id=18775 
Kopy Goldfields Pressrelease 2016-10-05 Svenska.pdf -
http://www.bequoted.com/beQPress/download.asp?Id=18776 

This information is information that Kopy Goldfields AB (publ) is obliged to
make public pursuant to the EU Market Abuse Regulation and the Securities
Markets Act. The information was submitted for publication, through the agency
of the contact person set out above, at 8.45 am CEST on October 5, 2016. 

About Kopy Goldfields AB
Kopy Goldfields AB (publ), listed at NASDAQ 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 company holds 11 bedrock
exploration- and production licenses and one alluvial license covering in total
1,963 sq km, of which the Krasny licenses (bedrock and alluvial) are held 49%
by the company. The target for Kopy Goldfields is to become a near-term gold
producer in cooperation with a producing 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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