INTERIM REPORT JANUARY - MARCH 2018

The Silver mine project fully financed and the ramp up picks up pace Construction of the concentration plant · Result for the period was 3,889 KSEK (-5,068) and the result per share 0.03 SEK (-0.05). · Other income was 23 KSEK (0). · Cash and cash equivalents per March 31, amounted to 308,258 KSEK (164,171). · Investments were 25,128KSEK (5,790). · Equity as of March 31, 2018 amounted to 372,716 KSEK (328,518) · In January the mill circuit to the concentrating plant was ordered from Outotec (Finland) Oy at a total prive of 20 MSEK (2.0 MEUR). · On February