Year-end Report 2012

Fourth Quarter (October – December 2012)

  • Capitalized exploration costs for the fourth quarter amounted to 1.3 (3.2) mkr 
  • P/L after tax for the fourth quarter totaled -0.7 (-.6) mkr 
  • P/L per share for the fourth quarter totaled -0.07 (-0.19) kr

Full year (January – December 2012)

  • Capitalized exploration costs for the full year amounted to 4.8 (15.9) mkr 
  • P/L after tax for the full year totaled -4.8 (-6.6) mkr 
  • P/L per share for the full year totaled -0.45 (-0.83) kr 
  • Equity per share at December 31, 2012 was 5.41 (5.86) kr3) kr 
  • The mineral resource at Bidjovagge increased by 35%

Important events during the fourth quarter

  • Formannskapet in the Kautokeino municipality approves the mining plans 
  • Kautokeino municipal government decided to postpone the decision regarding the mining plans until the Fylkesmann has reviewed the question of conflicts of interest and the factual handling of the case 
  • Fylkesmann in Finnmark stated that none of the five identified members of the Kautokeino municipal government showed any conflict of interest at the decision in April 2012 and that the municipality had its full right to reject our initial request to establish the “Planprogram”
  • Kautokeino municipal government requests the Ministry to clarify how the “Plan og Byggningsloven” shall be interpreted before the question will be brought up again
  • Two of Arctic Gold main shareholders increased their stake in the company
  • Arctic Gold has signed an Option Agreement regarding the diamond project which is for sale

Important events after the end of the reporting period

  • Arctic Gold has reduced its overall costs and received a bridge loan to cover the costs until forthcoming financing 
  • Arctic Gold reviews several alternative future financing strategies

For further information, please contact the company's CEO and Qualified Person as per SweMin as well as Europe Geologist.

Lars-Åke Claesson
CEO
Arctic Gold AB
46 18 156423
46 70 6733294
claesson@arcticgold.se
www.arcticgold.se

Arctic Gold's business concept is to engage in exploration activities to discover and demonstrate commercially extractable gold and base metal deposits in Scandinavia. The strategy is primarily to carry out exploration work and either sell the project within a few years or to establish mining activities under the company's own control or through a partnership with other companies. Arctic Gold focuses mainly on the Bidjovagge project in northern Norway and current gold and base metal permits in Västerbotten and Norrbotten. Arctic Gold's shares are listed on NASDAQ OMX First North under the ticker ARCT. Certified Adviser is Erik Penser Bankaktiebolag. More information about company is available at www.arcticgold.se.

Tags: