Copperstone Resources AB: Interim Report April-june 2023

APRIL - JUNE 2023

• Net sales amounted to KSEK 0 (0).
• Loss for the period amounted to KSEK -8,458 (-5,403) and earnings per share amounted to SEK -0.01 (-0.00).
• The Group's cash flow for the period amounted to KSEK 186,163 (-72,119), where cash was strengthened by SEK 266 million through a new share issue in June.
• The assets for capitalized exploration expenses amounted to KSEK 775,627 as of June 30, 2023 (639,503 as of December 31, 2022).
• Cash and cash equivalents amounted to KSEK 434,966 as of June 30, 2023 (SEK 329,153 as of December 31, 2022).
• Equity increased by 26 percent and amounted to KSEK 1,241,623 as of June 30, 2023 (986,551 per December 31, 2022).
• Total assets as of June 30, 2023 amounted to KSEK 1,332,336 as of June 30, 2023 (1,063,693 per December 31, 2022).

JANUARY - JUNE 2023

• Net sales amounted to KSEK 0 (0).
• Loss for the period for January-June amounted to KSEK -15,885 (-9,143).
• Earnings per share amounted to SEK -0.01 (-0.01).
• The Group's cash flow for the period amounted to KSEK 105,813 (109,264).

SIGNIFICANT EVENTS DURING APRIL-JUNE

• In April, Frida Keskitalo took over as CFO and in May Karin Lindgren started as the new Head of Geology.
• On May 24, the Land and Environment Court at Umeå District Court announced that the company's environmental permit application has been announced, which means that the court considers the application to be complete and can be reviewed.
• In June, a directed share issue of SEK 266 million was carried out. The issue was subscribed for by a number of new institutional investors and major existing shareholders.
• On June 29, Copperstone received notification from the Bergmästaren in Luleå that the land allocation for the Viscaria project has been granted and that land has been allocated in accordance with the application.
• On June 29, the Land and Environment Court established the timetable for consideration of Copperstone's environmental permit application with the main hearing scheduled to be held in February 2024.

SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD

• On August 14, it was announced that Henrik Ager will leave his position as CEO and that he is proposed to join Copperstone's board.
• The Board of Directors has appointed Jörgen Olsson as CEO of Copperstone, effective September 4. Jörgen Olsson has been Executive Chairman of the Board since 2020. Board member Per Colleen has been appointed new Chairman of the Board, effective September 4.
• Copperstone is preparing to change its listing from First North Growth Market to a listing on Nasdaq Stockholm's main market around the end of the year.

" During the second quarter of the year, we reached several important milestones on the way to reopening the Viscaria mine in Kiruna. After several rounds of consultations, our environmental permit application is now complete, and we have received a timetable for the steps that remain for us to obtain the important environmental permit. We have also received the go-ahead from the Bergmästaren that the land we intend to use for mining activities is now allocated for this very purpose. Together with the quarter's successful share issue, these positive decisions mean that we can quickly continue the work towards production start around the turn of the year 2025/2026," says CEO Henrik Ager.

For further information, please contact:
CEO Henrik Ager
Mobil: +46 (0) 706 - 804 142
E-mail: [e-mail]

Press contact Daniel Kangas
Mobile: +46 (0) 702 - 262 656
[e-mail]

[e-mail] or www.copperstone.se

About Us
Copperstone Resources AB is a company now scaling up to become a modern and responsibly producing mining company through the reopening of the Viscaria mine in Kiruna, Sweden. The deposit's high copper grade assessed mineral resources, geographical location and growing team of experts provides good opportunities to become a key supplier of quality and responsibly produced copper - a metal that plays a critical role in Sweden's and Europe's climate change towards an electrified society. In addition to the Viscaria mine, Copperstone holds a number of other exploitation concessions and exploration permits in Arvidsjaur (Eva, Svartliden, Granliden) and Smedjebacken (Tvistbogruvan), all in Sweden. The parent company's shares are traded on the Nasdaq First North Growth Market (ticker COPP B). Augment Partners is the company's Certified Adviser, [e-mail], [phone].