SOTKAMO SILVER HAS ACQUIRED MINING-RIGHTS IN MO I RANA,

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News Desk 2018

Nov 27, 2013 at 5:30 AM

SOTKAMO SILVER HAS ACQUIRED MINING-RIGHTS IN MO I RANA, NORWAY

On November the 27th Sotkamo Silver AB acquired all remaining mining- and mineral-rights from Gexco Norge AS, which the company had in Mo i Rana, Norway. The agreement means that Sotkamo Silver, as payment for those rights, have set their entire claim on Gexco Norge AS, which amounts to approximately SEK 48 million inclusive accrued interest, according to the particular loan-agreement between the parties. This loan-agreement was set up in connection with the takeover of Gexco AB. These rights have also been pledged for under a special pledge-agreement. Through this deal, these loan and pledge-agreements have expired. “Through the acquisition of these mining- and mineral-rights which have a significant ore-geological potential, the company has acquired a good starting point to be able to participate in the development of Norway's mineral-potential, which has been significantly activated during last years. We have also secured the value of our loan through this deal”, comments CEO Timo Lindborg. Mofjell: Target area Mofjell and surroundings was covered by a co-operation exploration project by NGU (Norwegian Geological Survey), county administration of Nordland and GEXCO Norge AS. Project commenced in 2008 and most fieldwork was done in 2008 and 2009, investigations of collected material and reporting have been completed after this field work. Project area covered Mofjellet and eastern part of Plurdalen, an area with high potential for economic sulfide deposits containing zinc, copper, lead, silver and guld. Earlier studies have focused in the geological setting of Mofjell Group and its relation to ore formation, main goal has been to assess potential for economic sulfide deposits in the area, including enrichment of precious metals. The work has included air-borne, high resolution geophysics as a basis for follow-up field work on anomalies, including sampling and diamond drilling. On the basis of lithological and geochemical observations Mofjell Group consists of bimodal volcanic-sedimentary association with higher amount of felsic volcanic rocks than earlier described. This kind of geological environment with bimodal volcanic association is favorable for rich and large massive sulfide deposits, called VMS (Volcanic-hosted Massive Sulfides). On the basis of investigations there are nine several kilometres long sulfide-mineralized zones which have been subject to folding and other post-mineralization tectonic processes causing discontinuity of sulfide zones or even accumulation of sulfides. In the study area there are more than 200 mines, prospects or showings with sulfide concentrations. Most remarkable is the Mofjell mine which has produced 4,35 Million tons of ore with 3,61% zinc (Zn), 0,71% lead (Pb) and 0,31% copper (Cu), average silver (Ag) content was 10 g/ton and that of gold (Au) 0,3 g/ton. Post-mining resource estimate gives total remaining resource to be ca 3,55 Million tons mostly inferred resource, grades correspond to mined ore. In the sulfide-disseminated parts of the deposit there are gold values 5 to 10 ppm; anyhow they have not been investigated in detail but offer a promising target for future work. Other promising target in this highly prospective area is Solvberget (Silver Mountain) with occasionally high silver-contents up to 100-300 g/ton associated with galena-rich veins. The Company has totally 20 exploration licenses in the area. Bimodal volcanic association containing basalts and felsic volcanic rocks as well as occasionally high gold and silver values are a common feature with companys main target Sotkamo Silver Mine in Finland. The official Stock Exchange Releases are given in Swedish and there may be slight differences in the translated versions. Sotkamo Silver AB Stockholm, 27th November 2013 Timo Lindborg, CEO About Sotkamo Silver AB: Sotkamo Silver AB´s business concept is to exploit mineral deposits in the Nordic countries with regards to human society and environment. Sotkamo Silver owns, through its subsidiary mineral deposits, which contains silver and gold in Finland. The Company’s main development project is the Taivaljärvi Silver Mine. Sotkamo Silver applies SveMin’s & FinnMin’s respective rules of reporting for public mining & exploration companies. Sotkamo Silver has chosen to report mineral resources and ore reserves according to the internationally accepted JORC or NI 43-101-code. The company applies International Financial Reporting Standards (IFRS) as approved by the European Union. The ticker symbol is SOSI in NGM and SOSI1 in NASDAQ OMX Helsinki. ISIN-code for Sotkamo Silver shares is SE0001057910 and for warrants SE0004635290. Sotkamo Silver AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. Company's press releases and financial reports are distributed via NGM and are available on www.silver.fi Read more about Sotkamo Silver on www.sotkamosilver.com or www.silver.fi

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