GV Gold CEO being interviewed regarding Krasny project

GV GOLD CEO BEING INTERVIEWED REGARDING KRASNY PROJECT

On October 6, 2016, the Russian Internet news portal Prime Gold - Vestnik
Zolotopromyshlennika (https://gold.1prime.ru https://gold.1prime.ru ),
specializing on mining industry information, published an interview with Sergey
Vasilyev, GV Gold (Vysochaishy, PJSC) CEO, regarding the Krasny-project. The
interview was given in connection with the MINEX 2016 investment forum in
Moscow and was published in Russian, see attachment for the original Russian
article. An English translation of the interview follows below. 

GV Gold expects 1.5 tons gold production from Krasny
Moscow, Oct 6 - RIA/Prime. Future gold production from the Krasny project in
the Irkutsk region is estimated at around 1.5 tons annually, as the GV Gold CEO
Sergey Vasilyev said to Vestnik Zolotopromyshlennika on the sidelines of the
MINEX 2016 forum. 

GV Gold owns 51% in the Krasny project and the remaining 49% belongs to the
Swedish company Kopy Goldfields. 

"By the end of February, we plan to complete the Feasibility Study of
construction development of this deposit and in March, a decision will be taken
to commence engineering design and start construction of the first stage
production line targeting the oxidized ore" - reported Vasilyev. He pointed out
that year 2017 will be devoted to design planning, and in 2018, following the
completion of the construction on its other project Ugakhan, Vysochaishy will
be able to move its personnel and equipment to start construction on Krasny." 

He also mentioned that by the end of 2018 - beginning of 2019, the partners
will be able to commission the first stage production. "Estimated capacity of
the first stage mill for the oxidized ore, which accounts for about 10 tons,
will be 800 thousand tons of ore per year, with an annual gold production of
about 1.5 tons (48 koz)"- said Vasilyev. 

According to him, exploration activities on the Krasny project will continue.
"We see potential for Krasny to become a big deposit, the object is still
significantly underexplored, since only the reserves of the first stage are
prepared for development. Upon completion of the exploration program, we target
to increase the resource base and prove between 50 and 100 tons of gold
reserves for the deposit which will affect the decision on development of the
second production stage" - added the GV Gold CEO. 

Joint Stock Company Vysochaishy is a top ten gold producer in Russia. The
company holds a portfolio of 13 license blocs and the total resource base
includes 632 tons of gold (20.32 Moz). In 2015 the company increased production
by 2.6% to 5.6 tons." 

This is a translation of a Russian article. In case of any discrepancy between
the English and the Russian version, the Russian version shall take precedence. 

For the complete press release including Appendix 1, please see attached
document. 

Stockholm, October 14, 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 2016-10-14.pdf -
http://www.bequoted.com/beQPress/download.asp?Id=18825 

This information is information that Kopy Goldfields is obliged to make public
pursuant to the EU Market Abuse Regulation. The information was submitted for
publication, through the agency of the contact person set out above, at 08.45
CEST on October 14, 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. 

The Share
Ticker: KOPY
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