Kopylovskoye - New Licence Acquisition

Research Report from Edison Investment Research

LONDON, January 27, 2011 - Kopylovskoye has paid US$36,900 to acquire 100% of Takhtykan, a new gold
exploration licence at its Kopylovskoye project on the outskirts of the
Russian city of Bodaibo. The new licence covers an area of 30km2 and is
contiguous with the company's existing Pravovesenniy and Kopylovskoye
licences. Previous exploration undertaken on these licences suggests the
presence of an additional ore zone, which is expected to outcrop at surface
within the new Takhtykan licence. The company plans to undertake desktop
studies this year with first drilling scheduled for 2012.

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Kopylovskoye is a gold exploration company focused on the development of
its seven licences in Russia. Together these cover 255km2 and have C1, C2 and
P1 reserves/resources of 2.0Moz. Currently listed in Stockholm, the company
is considering a secondary listing.

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Contact details: enquiries at edisoninvestmentresearch.co.uk or
+44(0)20-3077-5700