Dannemora Mineral AB

Press Release 24 June 2008

• Interesting gold grades in outcrop at Ytterängarna - Four of the analysed samples show gold grades above 3 grams per tonnes.
• Drill hole at Ytterängarna intersects rich gold mineralization - DH YTT 1: One metre core section grading 6,78 grams of gold per tonnes.

Since 2006 Dannemora Prospektering has carried out an extensive sampling campaign of dumps close to old mines within the Forsmark claim. As a result of this campaign high gold grades (up to 12.5 grams of gold per tonne) were found in several boulders from a dump close to an old trial mine at Ytterängarna. Also samples taken from the mineralization in a five metre long outcrop along the edge of the small open pit reported interesting gold grades (4.9 grams of gold per tonne).

The positive result justified detailed mapping and sampling of the outcrop close to the open pit. In total 14 samples of the mineralized zone, as well as of the country rock, was taken using a rock saw (figure 1). The assay results were very encouraging. Several of the samples reported gold grades above 3 grams per tonne and only two of the samples contained less than 0.1 grams of gold per tonne (table1).

Table 1.

Assay results of samples from an outcrop at the edge of the open pit at Ytterängarna.

Figure 1. Outcrop at the edge of the open pit at Ytterängarna. Sampling lines are marked with red lines and assay results with red numbers.

In order to further investigate the mineralized zone at Ytterängarna two holes were drilled during early summer 2008. These holes were drilled approximately perpendicular to the strike of the mineralized zone (N135o) in the outcrop and the open pit. The first drill hole intersected the gold-bearing zone, represented by an almost one metre long mineralized core-section grading 6.8 grams of gold per tonne and 5,450 grams of bismuth per tonne (table 2). No notable gold mineralization was, however, found in the second drill hole.

Table 2. Analysed mineralized core sections from drill hole YTT 1. Azimut N35o and dip 49o.

The mineralization at Ytterängarna is dominated by pyrite and pyrrhotite. Locally the sulphide mineralization is massive but generally it appears as an impregnation or as veinlets. The sulphide-rich parts are bound to a chlorite-rich skarn which also contains some magnetite. As evident from the analyses there is an obvious positive correlation between gold and bismuth grades and partly also between these elements and copper.

Lars-Göran Ohlsson (board member and Senior Consultant for Dannemora Mineral AB ) and Lennart Falk (major shareholder of Dannemora Mineral AB ) are registered as Qualified Persons (QP’s) by SveMin (Swedish Association of Mines, Mineral and Metal Producers). Lars-Göran Ohlsson and Lennart Falk have reviewed and verified the content of this release.

Chemical analyses have been carried out by ALS Chemex Ltd´s laboratories in Piteå, Sweden, and Vancouver, Canada (Certificate Number: CERT-0014168).

This document is a translation of the original Press Release in Swedish. In case of divergence, the Swedish version shall have precedence.

For further information, please contact:

Staffan Bennerdt, Group President Dannemora Mineral
Telephone 0295- 24 44 22
staffan.bennerdt@dannemoramineral.se
Lennart Falk, CEO Dannemora Prospektering
Telephone 0295- 24 44 12
lennart.falk@dannemoramineral.se

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