Kopy Goldfields: 2,338 km2 (233 800 ha) - Kopy Goldfields increases size of exploration area in Lena Goldfields significantly

Kopy Goldfields AB (publ) ("Kopy Goldfields" or "the Company") is pleased to announce that yesterday the Company won 6 public auctions, increasing its land position from 486 km2 to 2,338 km2. All prospects are located within the Maly Patom area of Lena Goldfields, Bodaibo region of Russia, within geological structures with strong potential for elephant gold discoveries; all prospects have basic infrastructure and have a long history of alluvial mining. Acquisition costs total USD 315 thousand and license terms are beneficial for the Company.

Comments from Mikhail Damrin, CEO of Kopy Goldfields:
- We are very happy with the auction outcome. We have been interested in these properties for a long time and finally the auction took place. All new properties are located within the last area left unexplored within the Lena Goldfields. We used our knowledge and experience from 5 years of operations in the Lena Goldfields region and acquired strategic and the largest land position within this highly prospective area. The new prospects provide blue sky potential for Kopy Goldfields as they have geology and rock similar to Sukhoy Log and carry strong possibility to host elephant gold deposits. We also believe that the license exploration terms are very beneficial for the Company. Our first step will be to summarize the existing historic data, develop an exploration program and commence field exploration activities during 2013.

Maly Patom gold ore-placer area was first identified in 1970s during the regional geological survey on the gold content of black-slate strata. The area was contoured following wide development of placer gold in river basins; sulfide and quartz mineralizations and geochemical anomalies. The area of the Maly Patom ore-placer cluster totally makes 3,850 km sq and was historically covered with a very poor geological study. Four major bedrock gold ore fields were historically identified within our new license area: Ilyinskoye, Gorbylyakhskoye, Taimendrinskoye and Nirundinskoye.

Highlights:
· The new exploration licenses cover a highly prospective area of totally 1851,94 km2:
1. Tyrynakh license - 249.64 km2
2. Bolshaya Taimendra license - 288.51 km2
3. Gorbylyakh license - 417.16 km2
4. Omur-Yuryakh license - 365 km2
5. Chencha license - 71.31 km2
6. Malo-Patomsky license - 460.32 km2
· All properties are located within Maly Patom area within 230 km distance to the North-East from Bodaibo city, 60 km from Perevoz village and 120 km from Kropotkin city.
· Roads and other basic infrastructure are in place due to historic and active alluvial mining operations within and nearby our new license boundaries.
· Within the license areas there are no national parks, historical monuments or other areas with preserved/restricted exploitation permits.
· There are multiple known bedrock gold mineralizations within the new license area.
· The area is known for rich historic and current alluvial production, with some alluvial deposits produced 1,600 kg of gold per km of a river stream.
· In general the license area was poorly explored in the past. During 1960-1970s the area was covered with geological mapping, gravimetric and airborne geophysical survey of 1:200,000 scale and partially with 1:50,000 scale.
· Kopy Goldfields will develop an exploration program and submit it for state review and approval. It is the Company target to commence exploration activities during 2013 and the program will probably start with airborne geophysical survey of the area to quickly localize prospective targets for ground exploration activities.
· The license terms are beneficial for the Company as allow for 60 months for prospecting stage. Licenses will be issued on the basis on the auction results within January-February 2013.

Acquired properties demonstrate strong synergies with Kopy Goldfields current portfolio and follow the target of developing 5 Moz of mineral resources in long term.

For location details, see Appendix 1 attached.

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

Stockholm, November 30, 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 2012-11-30 (English).pdf
Kopy Goldfields Pressrelease 2012-11-30 (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.

The Share
Ticker: KOPY www.nasdaqomxnordic.com/firstnorth/
Outstanding shares: 16 322 587