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  • Copperstone Resources AB: Eyes On Kiruna – Viscaria Scoping Study Published

Danderyd March 20, 2019

Following the closing of the Viscaria acquisition, Copperstone has initiated the networking with the local community, land and stake holders. The Board has established an indicative plan for nearterm and mid-term development, to be addressed with local interests prior to and during work permit applications. On a corporate level, designed core drillings program for Viscaria and the Copperstone project are currently being developed. Scoping Study 2016 is attached.

Copperstone has established an overall 24-month plan (until construction decision) for the development of the Viscaria project and has initiated the recruitment for a Project Manager; Chief Geologist; work plan application for exploration and resource drilling; timing of which to be determined in order to mitigate side effects on local environment and interests. The near-term plan also includes intensified Environmental base line studies required for the application at the Land and the Environmental Court.

Over the upcoming 24 months, indicatively 12 km D-zone drillings and 10km infill (and step-out resource) drillings A and B zones are planned, in parallel with feasibility studies. The ongoing environmental studies will be supplemented by a so-called gap analysis, transition of all historical data into today’s legal requirements to open this copper mine. Copperstone is seeking partnership with advisors for the application process.

The Company has funds to initiate the planned work with core drillings and analyses, and will seek further financing through directed issue and will do a European road show during April 2019. A prospectus regarding an equity issue for equal rights to funding by current shareholders, as well as potential further financing from Yorkville Advisors, are being prepared as alternatives.

For the Copperstone project area, a core drilling campaign of 5-8 km (subject to work permit and additional financing) is planned, targeting the significant conductive zones outside the Micon resource boundary North of Granliden (please refer to PR December 20, 2018) and East of the extensive historical shallow drillings at Eva.

Regarding the Awarded and Appealed exploration permit Sandberget 500, the Mining Inspectorate has rejected the Appeal (please refer to PR March 5, 2019) and the Administrative Court of Luleå will decide.

The Updated Summary Scoping Study of Spring 2016 is attached to this Press release.

“We are very excited to make a first development attempt in our new project area by taking the relevant contacts, meetings and to pursue from there in due course.”,

comments Michael Mattsson at Copperstone. For further information, please contact CEO Michael Mattsson, +46 705 739 777, michael.mattsson@copperstone.se, info@copperstone.se or visit the Copperstone website at www.copperstone.se

This press release contains insider information which Copperstone Resources AB (publ) is obliged to publish according to the EU market abuse regulation (MAR). This information was submitted for publication, through the above contact person’s agency, 08:00 CEST on March 20, 2019

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