Copperstone Resources AB


Copperstone Resource AB (“Copperstone or “the Company”) now presents an
operational update of on-going exploration work on the Copperstone project.
During the last few weeks, the Copperstone project has progressed several steps
in continuous investigation of a porphyry-style copper-gold mineralization
system may underlay the Svartliden-Eva area. 

The project team is currently evaluating significant and meaningful new geology
/ alteration data received from the first (1166m) and second (572m) inclined
drill holes.  The field activities are going well and the third drill hole has
now commenced according to earlier communicated plans. Based on geological
information there is conviction that a copper-gold-zinc porphyry-type system
may lie somewhere in the central area between the two first drill holes. A
summary of our progress to date is as follows: 

The first deep drill hole was inclined at -70 degrees to the north-northeast
and intersected the eastern extremity of an offshoot breccia-leakage zone at
Svartliden. The drilled geology indicates a progressive outward zonation
pattern ranging through the various complex hydrothermal alteration styles from
phyllic to propyllitic.  This drill hole was extended to 1166 m as zones of
phyllic alteration, hydrothermal breccia and chalcopyrite-arsenopyrite veining
were identified at 800m, and continued beyond as fine disseminations. The assay
laboratory results from the first hole confirm a sporadic copper-gold zone
intercepted from below 700m until just over 800m. This data ties in well with
known hydrothermal breccia-hosted shallow copper-gold mineralization found
previously around Svartliden. A select number of exploration data results from
this drill hole COS 17353 are shown in the table attached. The best meters of
cores at approx. 700-800 metres of length exhibits 0.72% Cu, 8 g/ton Ag and 0.1
g/ton Au (corresponding to 0.92 % Cueq at current spot prices **) and 0.63% Cu,
12 g/ton Ag and 0.2 g/t Au (corresponding to 0.98% Cueq**). 

The second deep drill hole inclined at -70 degrees towards Eva to the
south-southwest has intercepted various forms of phyllic-style alteration to
approximately 380 m depth containing a few narrow zones of semi-massive pyrite
veining. Towards the edge of the phyllic alteration zone the drill hole
intercepted silica banding with adjacent hydrothermal breccia zones. From
approximately 420-480 m zones of sphalerite and minor chalcopyrite
mineralization associated with chlorite-epidote alteration and some
hydrothermal breccia were found.  Detailed analysis and testing of this second
drill hole is now underway. Using knowledge from drill hole 1, the second drill
hole was stopped at 572 meters as it appears to have been advancing outward
away from the alteration center. 

The third deep drill hole will focus on what is thought to be the central part
of the hydrothermal-magmatic system. It has become clear that exploring through
the thickest and most intense part of phyllic alteration may help locate a
possible causative system at depth.  The phyllic zone, and related breccia /
intrusives, are interpreted at this stage to be a possible late stage effect
that may connect downwards towards a causative intrusion. Such features are
suggested to form late on in the life-span of a stock intrusion complex due to
interaction with meteoric hydrothermal systems. It is envisaged that Svartliden
may represent mineralization originating from deeper seated leakage around the
margins of the phyllic mass, and the known gold-zinc mineralization at Eva may
represent shallower mineralization resultant from meteoric fluid flows. With
each new drill hole the potential genetic model for hydrothermal alteration and
related substantial sulphide-based mineralization systems around Svartliden-Eva
is evolving and constantly being refined and developed. 

Continuous evaluation of the geological, alteration and chemical data sets at
Svartliden-Eva is ongoing in order to develop a better understanding of the
hydrothermal systems being investigated. All information, conclusions and
recommendations will be published as a technical report once the three-hole
drill campaign is complete and evaluated. 

“We are very enthusiastic that we already in the first drill hole find evidence
for a copper-gold mineralization at approximately 700-800 m core length at
Svartliden. Attached assay data supports the model. We have received a large
amount of new data from both the first two drill holes and the second hole
could be terminated in a cost efficient way based on information from the first
drill hole. It is with great expectations the Company now focus on the third
drill hole which at present have reached approx. 300 m.” says Copperstone CEO
Per Storm in a comment. 

For further information, please contact Per Storm, Copperstone, +46 705 94 90
24, e-mail: or refer to Copperstone Resources webpage: 

This press release contains insider information which Copperstone Resources AB
is obliged to publish according to the EU market abuse regulation (MAR). The
information was delivered by the above mentioned contact for publishing May 3rd
2017 at 07:30 CET. 

Copperstone Resources AB (publ) is a mining exploration company focusing on the
Copperstone project in the vicinity of the Skellefte field. This project has
the potential to become one of the biggest base- and precious metal deposits in
the Nordic Region. 

Copperstone Resources has eight exploration tenements covering approx. 9260
acres and two mining concessions and one applied concession covering a total of
82 acres. 

This press release have been revised and approved by the qualified person of
the Company, Thomas Lindholm M Sc at GeoVista AB, 

The share (COPP B) of the Company is traded on Nasdaq First North Stockholm
with G&W Fondkommission as the Certified Adviser. 

*) a glossary of geological term are found in the Copperstone Resource annual
report of 2016 in Swedish. 

**) In accordance with earlier communication, the Company has presented copper
equivalents, i e metals converted into copper by using price assumptions; such
a calculation is usually based on an underlying assumption of continuous
mineralized zones, thus an assumption as such is not as representative for
single deep drill holes and without other data points currently available.
Reference numbers shall therefore be used with caution and rather as a guidance
of potential contribution of the metals.