Kopylovskoye announces promising results from two exploration projects within Prodolny license

Kopylovskoye AB is pleased to announce promising exploration results from Zolotoy and Obrucheva projects within the Prodolny license. The company carried out detailed ground geophysical survey (mag, IP and resistivity) and soil sampling with the line spacing 100 meter at Zolotoy and Obrucheva areas. Combined geophysical and geochemical studies resulted in a combined extensive anomaly which will be further drill tested during 2011.

As result of the soil sampling on Zolotoy project the large gold anomaly has been discovered with strike length of more than 1.400 meters and width 300-500 meters with gold grade up to 1 g/t. There is a "tail" of the smaller anomalies in the eastern extensions of the anomaly. The gold anomaly is coincided with IP anomaly and a linear structure interpreted as a complex fault zone and clearly seen at the results of the magnetic survey. Field observations have established existence of the hydrothermal alteration.

On Obrucheva project IP anomalies coinciding with linear magnetic anomalies are mapped. These anomalies are interpreted as close to surface blind disseminated gold bearing mineralization in the favorable lithology in the place of intersection with the steeply dipping fault zone. This model is confirmed by results of the soil sampling. IP anomaly coincides with intensive arsenic anomaly with number of smaller gold anomalies along the more penetrable zones. Single trench intersected anomalies zone with gold below economical grade but demonstrated existence of the gold mineralization.

Mikhail Damrin, CEO, comments on the exploration results:

- I am pleased that our geological interpretation about the area is confirmed by the results indicating high gold mineral potential of both Zolotoy and Obrucheva both within Prodolny license area.

For more detailed description of the projects, please read the attached document.

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

Stockholm, May 9, 2011

For more information, please contact:
Mikhail Damrin, CEO, mobile: +7 (916) 808 12 17
Anna Sandgren, Vice President, Investor Relations, mobile +46 (70) 973 71 31

Följande dokument kan hämtas från beQuoted
Kopylovskoye Pressrelease 2011-05-10 (English).pdf
Kopylovskoye Pressrelease 2011-05-10 (Swedish).pdf
Kopylovskoye Attachment.pdf

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About Kopylovskoye
Kopylovskoye AB, 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 company holds 100% of seven bedrock exploration- and production licenses. The long term target is to develop a gold exploration and production company with resources of 5Moz supporting annual gold production of 0.2 Moz.

Kopylovskoye reports mineral resources and ore reserves according to the Russian GKZ system, but is currently working on applying the internationally accepted JORC code to verify the mineral resources and ore reserves. SRK Consulting acts as consultant and will approve the JORC reports. Kopylovskoye AB applies InternationalFinancial Reporting Standards (IFRS), as approved by the European Union. Mangold Fondkommission acts as Certified Adviser and Liquidity Provider, contact number: +46 8-503 015 50.

The share
Ticker: KOPY www.nasdaqomxnordic.com/firstnorth/
Outstanding shares: 6.626.937
Outstanding warrants: 1.472.653 with subscription between May 16- June 16 2011@ 25 SEK