Expansion resource drilling on Krasny project has commenced

Kopy Goldfields AB (publ) ("Kopy Goldfields" or "the Company") announces the start of a further drilling program on the Krasny project. The program will explore the extension of the Western and the Eastern end of the Krasny mineralization further along the strike, and also upgrade quality of resources in the center of Krasny structure. The Company expects to release several updates of resource estimation through the year. First results are expected in March 2013.

Following the positive results from the previous drilling on Krasny (press release from November 26, 2012) and with the proceeds from the current rights issue, the company commenced expansion drilling on the Krasny project.

Total program includes 8,500 meters of diamond drilling and 1,200 meters of trenching in several stages. The First stage drilling will consist of 8-9 holes of totally 2,500 meters drilled within profiles 16 and 22 (see map in Attachment 1 for details). The drill holes will target the western continuation of Krasny mineralization not covered by the recent resource statement. Results from this stage are expected in March 2013 and will include delineation of the structure between profiles 16 and 22 and new resource estimation for an extended strike.

Upon successful completion of stage one, drilling of some 2,750 meters (Stage Two) will continue to explore mineralization further along the strike to the west and to the east from profile 16 (within new profiles 13 and 19).

Stage Three drilling for 1,350 meters will target gold mineralization on the eastern continuation of Krasny structure within profile 35. Stage Four will include 2,000 meters of drilling and 1,200 of trench sampling and will target Upper mineralization close to surface between profiles 26 and 35 (central part of Krasny mineralization). Results from Stages Three and Four are expected by August 2013 and will include resource upgrade for the central part of Krasny structure. Both stages with will be developed in parallel upon completion of stage 2.

Finally stage 5 will include prefeasibility studies targeting to file Russian statutory resource report for Krasny and prepare it for early production start.

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

Stockholm, December 10, 2012

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 2012-12-10 (English).pdf
Kopy Goldfields Pressrelease 2012-12-10 (Swedish).pdf

Mer information från beQuoted
Nyhetsrum Kopy Goldfields (Swedish)

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 fifteen bedrock exploration and production licenses on 2,338 sq km. 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.

Kopy Goldfields AB applies International Financial Reporting Standards (IFRS), as approved by the European Union. Aqurat Fondkommission acts as Certified Adviser, contact number: +46-8-544 987 55.

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Ticker: KOPY www.nasdaqomxnordic.com/firstnorth/
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