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Arctic Gold AB (ARCT): Arctic Gold stops all activity in Bidjovagge for the time being after the political treatment in Kautekeino

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After the political treatment that Arctic Gold was subjected to in the Kautokeino Municipal Government the company's board of directors has decided to cease all activity with the Planprogram, the Reguleringsprogram with environmental impact study, as well as drilling and other exploration activities in Bidjovagge.

The management of the company is very disappointed with the manner in which some of the political parties have chosen to handle the factual points of our planprogram. Arctic Gold is of the opinion that the proposed environmental impact study would clarify all the social, environmental and reindeer herding situations which supposedly would be affected by mining operations in the Bidjovagge area and would give the municipality good data with which to evaluate the advantages of a mining operation and new job opportunities.

Arctic Gold will from now on only be looking into Norwegian law to see if there is any possibility at all for conducting mining operations in Finnmark in northern Norway. Contacts with authorities, attorneys and politicians at the highest level have already been established and Arctic Gold still has hopes that possibilities for continued operations in Norway can be found in the near future.

For further information, please contact the company's CEO.

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.

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