Insiders List

The following persons are considered to have an insider position in the Company:

Updated 2012-04-30

Members of the Board		Position	Security	Number	Latest change
Karl-Axel Waplan		Chairman	share	260 000	2010-12-16
Timo Lindborg	(1)	Member	share	2 340 056	2011-04-07
Meg Tiveus		Member	share	0	2012-04-26
Lars-Göran Ohlsson		Member	-	-	2007-06-19
Rauno Pitkänen		Member	share	7 380	2010-11-02
Carina Hellemaa		Member	-	-	2009-04-20
Staffan Simberg	(1)	Member	share	500 000	2011-04-28
Management
Markus Ekberg	(1)	Chief Executive Officer, CEO	share	60 000	2011-03-15
			options 2009/2014	500 000	2010-02-01
			options 2011/2016	300 000	2011-05-24
Jaakko Liikanen		Chief Technical Officer, CTO	share	1 143 892	2012-01-19
			options 2009/2014	350 000	2010-02-01
			options 2011/2016	200 000	2011-05-24
Börje Lindén		Chief Financial Officer, CFO	share	10 000	2012-01-17
			options 2009/2014	350 000	2010-02-01
			options 2011/2016	200 000	2011-05-24
Janne Muttonen		Resident manager, Pampalo Gold Mine	share	4 000	2011-03-15
			options 2011/2016	400 000	2011-05-24
Auditors
Sten Håkansson		PricewaterhouseCoopers, Sverige	-	-	2007-06-19
Ylva Eriksson		PricewaterhouseCoopers; Finland	-	-	2009-03-27

1) including immediate family and ownership through controlling participation of legal entity

Changes in holdings
Date		Person	Transaction	Security	Number
2010-12-16		Karl-Axel Waplan	subsription	share	20 000
2010-12-16		Karl-Axel Waplan	excercise	warrant	-20 000
2010-01-13		Karl-Axel Waplan	issue	share	180 000
2010-01-13		Karl-Axel Waplan	issue	warrant	20 000
2010-01-13		Karl-Axel Waplan	conversion	Paid subscription unit	-20 000
2009-12-09		Karl-Axel Waplan	issue	Paid subscription unit	20 000
2009-12-09		Karl-Axel Waplan	issue	unit right	-60 000
2009-11-18		Karl-Axel Waplan	issue	unit right	60 000
2008-04-29		Karl-Axel Waplan	purchase	share	60 000
2011-04-07		Timo Lindborg	sale	share	-400,000
2010-12-16		Timo Lindborg	subsription	share	174 281
2010-12-16		Timo Lindborg	excercise	warrant	-174 281
2010-01-13		Timo Lindborg	issue	share	1 568 529
2010-01-13		Timo Lindborg	issue	warrant	174 281
2010-01-13		Timo Lindborg	conversion	Paid subscription unit	-174 281
2009-12-09		Timo Lindborg	issue	Paid subscription unit	174 281
2009-12-09		Timo Lindborg	issue	unit right	-522 856
2009-12-03		Timo Lindborg	sale	unit right	-37 000
2009-12-02		Timo Lindborg	sale	unit right	-13 000
2009-12-01		Timo Lindborg	sale	share	-59 000
2009-11-26		Timo Lindborg	sale	unit right	-483 400
2009-11-18		Timo Lindborg	issue	unit right	1 056 256
2009-11-17		Timo Lindborg	sale	share	-100 241
2009-11-16		Timo Lindborg	sale	share	-7 890
2009-11-13		Timo Lindborg	sale	share	-98 613
2009-11-10		Timo Lindborg	sale	share	-20 000
2009-11-10		Timo Lindborg	sale	share	-10 000
2009-11-09		Timo Lindborg	sale	share	-107 000
2007-06-19		Timo Lindborg	issue	share	1 400 000
2010-11-02		Rauno Pitkänen	purchase	share	7 380
2011-05-24		Markus Ekberg	issue	Options 2011/2016	300 000
2011-03-15		Markus Ekberg	purchase	share	6 001
2010-12-16		Markus Ekberg	subsription	share	3 999
2010-12-16		Markus Ekberg	excercise	warrant	-3 999
2010-02-01		Markus Ekberg	issue	Options 2009/2014	500 000
2010-01-14		Markus Ekberg	purchase	share	10 009
2010-01-13		Markus Ekberg	issue	share	35 991
2010-01-13		Markus Ekberg	issue	warrant	3 999
2010-01-13		Markus Ekberg	conversion	Paid subscription unit	-3 999
2009-12-09		Markus Ekberg	issue	Paid subscription unit	3 999
2009-12-09		Markus Ekberg	issue	unit right	-11 999
2009-12-03		Markus Ekberg	purchase	unit right	8 000
2009-11-18		Markus Ekberg	issue	unit right	3 999
2009-07-01		Markus Ekberg	purchase	share	4 000
2012-01-19		Jaakko Liikanen	sale	share	-1 895
2012-01-18		Jaakko Liikanen	sale	share	-76 154
2011-07-05		Jaakko Liikanen	sale	share	-25 000
2011-01-20		Jaakko Liikanen	issue	Options 2011/2016	200 000
2011-01-20		Jaakko Liikanen	sale	share	-119 744
2010-12-16		Jaakko Liikanen	subsription	share	60 333
2010-12-16		Jaakko Liikanen	excercise	warrant	-60 333
2010-11-30		Jaakko Liikanen	sale	share	-40 000
2010-02-01		Jaakko Liikanen	issue	Options 2009/2014	350 000
2010-01-13		Jaakko Liikanen	issue	share	542 997
2010-01-13		Jaakko Liikanen	issue	warrant	60 333
2010-01-13		Jaakko Liikanen	conversion	Paid subscription unit	-60 333
2009-12-09		Jaakko Liikanen	issue	Paid subscription unit	60 333
2009-12-09		Jaakko Liikanen	issue	unit right	-181 000
2009-12-03		Jaakko Liikanen	sale	unit right	-136 687
2009-12-02		Jaakko Liikanen	sale	unit right	-41 313
2009-11-26		Jaakko Liikanen	sale	unit right	-444 000
2009-11-26		Jaakko Liikanen	sale	unit right	-128
2009-11-18		Jaakko Liikanen	issue	unit right	803 128
2009-09-28		Jaakko Liikanen	sale	share	-23 000
2007-06-19		Jaakko Liikanen	issue	share	826 385
2012-01-17		Börje Lindén	sale	share	-14 000
2011-12-27		Börje Lindén	sale	share	-17 772
2010-05-24		Börje Lindén	issue	Options 2011/2016	200 000
2010-02-01		Börje Lindén	issue	Options 2009/2014	350 000
2010-01-20		Börje Lindén	sale	warrant	-3 508
2010-01-13		Börje Lindén	issue	share	31 572
2010-01-13		Börje Lindén	issue	warrant	3 508
2010-01-13		Börje Lindén	conversion	Paid subscription unit	-3 508
2009-12-21		Börje Lindén	issue	Paid subscription unit	108
2009-12-09		Börje Lindén	issue	Paid subscription unit	3 400
2009-12-09		Börje Lindén	issue	unit right	-10 200
2009-11-18		Börje Lindén	issue	unit right	10 200
2009-10-22		Börje Lindén	sale	share	-3 800
2008-12-01		Börje Lindén	purchase	share	3 800
2008-10-06		Börje Lindén	purchase	share	4 000
2008-09-24		Börje Lindén	purchase	share	2 400
2008-09-01		Börje Lindén	purchase	share	3 800
2010-05-24		Janne Muttonen	issue	Options 2011/2016	400 000
2011-03-15		Janne Muttonen	purchase	share	1 500
2010-12-16		Janne Muttonen	purchase	share	2 500

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