Copperstone Resources AB: Copperstone Resources Year-end report 2023

OCTOBER - DECEMBER 2023

• Net sales amounted to SEK 0 million (0).
• Profit before tax for the period amounted to SEK -10.0 million (-8.9). Earnings per share before and after dilution amounted to SEK -0.11 (-0.12).
• Capitalized expenditures on exploration and appraisal assets amounted to SEK 63.0 million (53.6).
• The Group's cash flow for the period amounted to SEK -86.1 million (143).

JANUARY - DECEMBER 2023

• Net sales amounted to SEK 0 million (0).
• Profit before tax for the period January-December amounted to SEK -30.1 million (-21.8). Earnings per share before and after dilution amounted to SEK -0.36 (-0.33).
• Capitalized expenditures on exploration and appraisal assets amounted to SEK 260 million (185).
• The Group's cash flow for the period amounted to SEK -62.8 million (205). The company's cash position was strengthened by SEK 266 million before issue costs through an issue of new share in June.
• Cash and cash equivalents amounted to SEK 266 million as of 31 December 2023 (SEK 329 million as of 31 December 2022).
• Equity increased by 24.4 percent and amounted to SEK 1,228 million as of 31 December 2023 (SEK 987 million as of 31 December 2022).

SIGNIFICANT EVENTS DURING OCTOBER-DECEMBER

• On October 19, changes to Group Management were announced. Anna Tyni was appointed Deputy CEO. Peter Wihlborg was appointed the new Head of Environment and Sustainability and Christopher Wikman the new Head of Mine, as a result of natural succession. At the same time, Tove Thelin Täckdal, Head of Enrichment, and Thomas Nordmark, Head of Infrastructure and Logistics, will join Group Management. Anders Lundqvist, former Head of Sustainability, and Glenn Nilsson, former Head of Mine, will continue to work with the company and their long experience will continue to be valuable to Copperstone.
• On December 8, Copperstone was listed on Nasdaq Stockholm's main market, after having previously traded on First North Growth Market.
• In December, a reverse split was carried out, where 20 shares were consolidated into one new share. 13 December 2023 was the first day of trading after the reverse share split.

SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD

• Copperstone initiates a feasibility study to ensure a complete basis for future financing and project planning.
• The main hearing in the Land and Environment Court at Umeå District Court was held on January 30 - February 21 to handle Copperstone's application for a permit under the Environmental Code. Judgment will be given on April 22, 2024 at 13.00.
• Upgrading of the mineral resources in Arvidsjaur.

Comments from CEO Jörgen Olsson:
" Looking ahead, it is with great conviction that Copperstone will be able to take an important position as a mining company. Last year, we took decisive steps forward, and are getting closer to opening the mine, while at the same time reducing the risks associated with the project. The plan is that towards the end of 2024, after we have received the necessary permits, we will be able to start the major investments in an enrichment plant and other infrastructure. This is well in line with our timetable for a restart of the mine in 2026. I look forward to continuing to update you on our progress."

PRESENTATION

A live presentation of the fourth quarter and year-end report 2023 will be held today, Thursday 29 February, at 09.30 CET. The report will be presented by CEO Jörgen Olsson and CFO Frida Keskitalo. The presentation will be held in Swedish and will also include a Q&A session.

The live presentation can be accessed via the link: https://youtube.com/live/Lc7G7FtCKbw?feature=share

For more information, please contact:
CEO Jörgen Olsson
Mobile: +46 (0) 703 - 420 570
E-mail: [e-mail]

CFO Frida Keskitalo
Mobile: +46 (0) 703 - 401 053
E-mail: [e-mail]

Press contact Karin Svensson
Mobile: +46 (0) 761 - 169 190
E-mail: [e-mail]

[e-mail] eller www.copperstone.se

About Us
Copperstone Resources AB is a company that is scaling up to become a modern and responsible producing mining company through the reopening of the Viscaria mine in Kiruna. The deposit's high copper grade, assessed mineral resources, geographical location and growing team of experienced employees provide good conditions for Copperstone to become an important supplier of high-quality and responsibly produced copper - a metal that has a central role in Sweden's and Europe's climate transition towards an electrified society. In addition to the Viscaria mine, Copperstone holds a number of processing concessions and exploration permits in Arvidsjaur (Eva, Svartliden, Granliden) and Smedjebacken (Tvistbogruvan) - all in Sweden. The Parent Company's shares are listed on Nasdaq Stockholm Main Market (ticker COPP).