Drilling program in Bidjovagge with the goal of doubling the mineral resource

Arctic Gold is hereby initiating a second drilling program in Bidjovagge with the goal of increasing the known mineralizations and to identify new ones. The program consists of 8000 m of core drilling and will be carried out with the goal of doubling the mineral resource.

The drilling will be carried out by Diamantboring Nord A/S, the same drilling contractor from Kautokenio who was engaged during 2010. The work will be initiated in the end of June with two machines, and will continue until this fall with the purpose of increasing the resource, and with the goal of having around 3.5 million tons, equivalent to 10 years worth of production, before a decision is made for operating the mine. The drilling will be executed in such a way that the already known mineralizations can be increased and delineated. Additionally, drilling will be carried out in places where the company previously knows of mineralizations from a small number of drill holes, and is therefore hoping to be able to identify additional tonnage that can be included in the mineral resource.                      

                      The results will be reported in stages, as each area is completed and analyzed.

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

Lars-Åke Claesson
Chief Executive Officer
Arctic Gold AB
+46 18 156423
+46 70 6733294
claesson@arcticgold.se
www.arcticgold.se