Kopy Goldfields Interim Report January - March 2013

Summary of key ratios, first quarter 2013
· The Company does not yet report any revenue
· Net income MSEK 1.1 (-3.9)
· Earnings per share before and after dilution SEK 0.05 (-0.41)
· Total cash flow of MSEK -8.9 (-11.3)
· Evaluation work and licenses MSEK 8.6 (7.0)
· Cash and cash equivalents amounted to MSEK 2.5 (9.1) at period end

Significant events during first quarter 2013
An updated mineral resource report was issued for a part of the Krasny Gold deposit on March 26, 2013, showing totally 1.37 Moz of Inferred and Indicated gold resources at 1.59 g/t according to JORC.
· Indicated Mineral resources of 0.21 Moz (4.3 million tons of rock at an average grade 1.53 g/t Au) and Inferred Mineral resources of 1.16 Moz (22.5 million tons at an average grade of 1.60 g/t Au).
· The estimation covers 1,300 meters of mineralization out of total 2,850 meters strike confirmed with the recent drilling.

Significant events after the reporting period
A scoping study was done for the Krasny project and was released in April 2013. The scoping study confirms a potential for 60 koz of open pit production of gold per year during 18 years and financial returns of USD 360 million in free cash flow. Highlights of the scoping study are the following:
· Total gold resources mined: 1.3 Moz (40.7 tons) at an average grade of 1.53 g/t
· Annual gold production: 62.8 koz (1,955 kg)
· Undiscounted project value: USD 362 million (USD 458 million pretax)
· Discounted project value (NPV): USD 192 million at 5% discount rate (USD 101 million at 10%)
· IRR: 23.9%
· Annual average revenue from gold sales: USD 105 million
· Annual average profit before tax: USD 26.5 million
· Capital costs (plant, open pit, infrastructure): USD 147 million
· Production costs (mining and processing): 855 USD/oz
· Average Gold price: 1,670 USD/oz (sensitivity analysis shows positive cash flow at a gold price of 1,240 USD/oz)
· Plant capacity: 1.5 million tons per year
· Average strip ratio: 4.6 m3/t
· Overall recovery: 85%
· Life of mine: 18 years

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

Stockholm, May 16, 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 2013-05-16 (English).pdf
Kopy Goldfields Interim Report Q1 2013 (English).pdf
Kopy Goldfields Pressrelease 2013-05-16 (Swedish).pdf
Kopy Goldfields Delårsrapport Q1 2013 (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 within new and existing licenses.

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.

The Share
Ticker: KOPY
www.nasdaqomxnordic.com/firstnorth/
Outstanding shares: 22 851 621