GOTHENBURG, Sweden, Feb. 20, 2003 (PRIMEZONE) -- Riddarhyttan Resources AB:
-- Mining and enviromental permits for Suurikuusikko received
-- North American and Asian investors enter Riddarhyttan, which added
a total of approx 34 MSEK to the company's treasury
-- New resource calculations shows a total of 11.5 Mt grading
5.4 g/t (approx 2 million ounces)
-- Group losses after tax was -13 338 KSEK (-12 280)
The complete financial statement can be found through the following link: http://reports.huginonline.com/892655/113828.pdf
Riddarhyttan Resources AB is an exploration company concentrating on deposits of precious metals in the Scandinavian countries. The company's primary business concept is to acquire, either by means of exploration or acquisition, new mineral deposits that, through detailed exploration, can be enhanced into economic ore bodies. At the Suurikuusikko deposit (Finland), which is Riddarhyttan's most advanced project, gold resources (57 % "indicated" and 43 % "inferred resources," cut-off 2g/t Au) amounts to 11,5 million tons, grading 5,4 grams of gold per tonne (approx. 2 million ounces of gold).