1997• Riddarhyttan listed on the Stockholm Stock Exchange’s SBI list.

• Profit after financial items were MSEK 3.5 and the Group losses after tax were MSEK -2.4. At year-end liquid assets amounted to MSEK 48.

1998• Riddarhyttan won the international tender for the Suurikuusikko Field (1.5 million tonnes

grading 5.9 grams of gold per tonne).

• Drilling carried out by Riddarhyttan during the year increased the resources to 2.7 million tonnes grading 6.6 g/t.

• Group losses after tax were MSEK -7.2 and the liquid assets amounted to MSEK 33.3.

1999• Riddarhyttan sold its holdings in Svenska Koppar AB. The sale generated capital gains of

MSEK 16.9 and increased liquid assets by MSEK 18.7.

• Riddarhyttan drilled 59 holes in Suurikuusikko increasing the resources to 5.5 million tonnes grading 6.2 g/t .

• Profit were MSEK 8.0. The Group profits after tax were MSEK 12.5 and liquid assets at year-end amounted to MSEK 37.0.

2000• Riddarhyttan listed on the Stockholm Stock Exchange’s O list.

• Riddarhyttan applied for a mining permit for the Suurikuusikko deposit.

• The Group profits after tax were MSEK 0.16 and profits after financial items amounted to MSEK 8.9. Liquid assets at year-end were MSEK 5.8.

2001• In January a new share issue provided the company with MSEK 24 of new capital. The equity

generated a great deal of public interest and the issue was oversubscribed by 5 million shares.

• After continued drilling during the year the resources at Suurikuusikko were estimated to 8.3 million tonnes grading 6.1 g/t.

• Riddarhyttan wins two international tenders and acquires the Oijärvi occurrences (together with Troy Resources) as well as the gold occurrences in the Iso-Kuotko area.

• A new issue of 40 million shares provided MSEK 50, before issuing costs. Once again, there was great public interest and the issue was oversubscribed by 11 million shares.

• The Group losses after tax were MSEK -12.3. The profits after financial items were MSEK 0.8 and liquid assets at year-end amounted to MSEK 40.8.

2002Extensive drilling in the Suurikuusikko Field resulted in an increase of the resources to 11.5 million tonnes grading 5.4 g/t.

The Environmental Permit for Suurikuusikko was granted in the autumn.

During the summer months the company received a capital contribution of MSEK 34 from a special issue of new shares aimed at North American and Asian institutional investors.

The Board of Directors was strengthened during the year by the election of Pertti Voutilainen, Lars-Eric Aaro and Thomas Lifvendal.

The Group losses after tax were MSEK -13.3. Liquid assets and current assets at the end of the year amounted to MSEK 41.0.

HISTORY

Riddarhyttan RESOURCES

SHARE HOLDERNUMBER OF

SHARESSHARE OF

VOTES

Foreign shareholders and trustees 21 698 415 24,1

Dunross & Co 20 58 5672 22,9

Jaan Kaber 1 723 000 1,9

Hagströmer & Qviberg 1 504 307 1,7

Najaden Dataleasing AB 1 232 000 1,4

Crevicon Byggutveckling AB 596 474 0,7

Thomas Krishan 554 500 0,6

Jan Blomqvist 509 400 0,6

Måns Bodin 508 000 0,6

Granström Gunnar companies 500 000 0,6

Others 40 588 232 44,6

SHAREHOLDERS (AS OF 31 DECEMBER 2002)

Riddarhyttan RESOURCES

SEK

5.0

4.5

4.0

3.5

3.0

Aug Sept Okt Nov Dec Jan Feb March April May June July

SHARE PRICE PERFORMANCE

Riddarhyttan has been listed on the Stockholm Stock Exchange's O-list since April 2000 with the call letters ”RHYT”.

During the period 1 January through 30 December 3002 the share price increased by 93%. The years lowest price quoted was SEK 2.30 and the highest price quoted was SEK 4.80.

Riddarhyttan

RESOURCES

• Iso-Kuotko

Riddarhyttan

RESOURCES AB

Environmental and mining permits

Riddarhyttan has received:

• In November 2002: an environmental permit to mine and process the ore at Suurikuusikko.

• In January 2003: a mining permit for the deposits in the central part of the Suurikuusikko Field.

All permits are now in place to start exploiting the deposits in Suurikuusikko Field.

0

500

1 000

1 500

2 000

2 500

3 000

3 500

4 000

1997 1998 1999 2000 2001 2002

Ton

Consumption

Production

Riddarhyttan

RESOURCES

Demand exceeds mine production

Källa: World gold Council & USGS

Riddarhyttan RESOURCES

Historical development of the gold price