Endomines

Endomines Finland Plc – Press Release – 13/9/2024, at 13:30 EEST

Endomines Expands Mining Operations in Hosko – Veljekset Toivanen Oy to implement underground mining contracts

Endomines Finland Oyj’s subsidiary, Endomines Oy, has entered into a cooperation agreement with mining contractor Veljekset Toivanen Oy. The contract covers the underground mining operations in the Hosko production site.

Endomines opened the Hosko open pit mine in February 2024. Hosko is located on the Karelian Gold Line, about 20 km north of Pampalo. The company is now expanding its mining operations to include an underground mine in addition to the open pit mine. Veljekset Toivanen Oy has been selected as a partner for the underground mining contracts.

“Veljekset Toivanen Oy is a well-known and reliable mining contractor with extensive experience and expertise in the field. The company’s strong competence and commitment to responsible operations make it an excellent partner for Endomines,” says Ilkka Räty, Endomines’ Chief Operating Officer.

A Familiar Partner Helps in Achieving the Goals

Endomines has cooperated with Veljekset Toivanen also before this agreement. The company has been responsible for open pit mining in the Pampalo and Hosko production sites.

“It is great that our cooperation with Veljekset Toivanen continues. Veljekset Toivanen’s operations emphasize occupational safety, development activities, and professionalism, which gives us confidence to continue our collaboration,” says Räty.

Endomines strongly believes in the potential of the Hosko area, and through the underground mine, the company will be able to better utilize the area’s gold resources. The company’s medium-term goal is to increase gold production to 20,000 ounces by the end of the current year. The Hosko underground mine will help Endomines achieve this goal.

“Veljekset Toivanen Oy is proud to be part of this project. Our cooperation with Endomines is proof of the commitment of both companies to responsible and efficient mining,” comments Ari Keskitalo, Head of Mining Operations at Veljekset Toivanen Oy.

Image: Ilkka Räty and Ari Keskitalo

Further information:

Ilkka Räty
COO
Endomines Finland Oyj
+358 40 922 4419
ilkka.raty@endomines.com

Ari Keskitalo
Head of Mining Operations
Veljekset Toivanen Oy
+358 40 178 9887
ari.keskitalo@veljeksettoivanen.fi

Endomines Finland Plc is a Finnish forerunner in sustainable mining. Our mining operations in Pampalo, Ilomantsi region, focus on gold mining and processing, as well as exploration in the Karelian gold line, in Eastern Finland. We also own the rights to seven gold deposits in the US. We produce gold for the jewellery and electronics industries and create value by transforming natural resources into wealth, an investment that withstands the volatility of global politics. We are a growing mining company that embraces new ways of thinking; we want to leave a positive footprint where we operate, which is why our goal is to grow the Karelian gold line into a significant, sustainable gold-producing region. Endomines is listed on the main list of OMX Helsinki (PAMPALO). www.endomines.com.

Endomines Finland Plc - Managers' transactions - Ekberg

____________________________________________

Person subject to the notification requirement

Name: Ekberg, Markus

Position: Member of the Board/Deputy member

Issuer: Endomines Finland Plc

LEI: 7437004UOFZRIUWTUG97

Notification type: INITIAL NOTIFICATION

Reference number: 7437004UOFZRIUWTUG97_20240823103000_29

____________________________________________

Transaction date: 2024-08-23

Venue not applicable

Instrument type: SHARE

ISIN: FI4000508023

Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE

Transaction details

(1): Volume: 435 Unit price: 0.00 EUR

Aggregated transactions

(1): Volume: 435 Volume weighted average price: 0.00 EUR

Endomines Finland Plc

Further information

Minni Lempinen, CFO, Endomines Finland Plc

minni.lempinen@endomines.com, +358 40 769 3483

Endomines Finland Plc is a Finnish forerunner in sustainable mining. Our operations are focused on gold production and exploration in the Karelian Gold Line in Eastern Finland. We also own the rights to seven gold deposits in the US. We produce gold for the jewellery and electronics industries and create value by turning natural resources into wealth, and we also create value by transforming natural resources into wealth, an investment that can withstand the volatility of global politics. Our vision is to develop the Karelian gold line into one of the most important and sustainable gold-producing regions in the world. Endomines is listed on the OMX Helsinki main list (PAMPALO). www.endomines.com.

Endomines Finland Plc - Managers' transactions - Jokela

____________________________________________

Person subject to the notification requirement

Name: Jokela, Jukka

Position: Member of the Board/Deputy member

Issuer: Endomines Finland Plc

LEI: 7437004UOFZRIUWTUG97

Notification type: INITIAL NOTIFICATION

Reference number: 7437004UOFZRIUWTUG97_20240823103000_30

____________________________________________

Transaction date: 2024-08-23

Venue not applicable

Instrument type: SHARE

ISIN: FI4000508023

Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE

Transaction details

(1): Volume: 398 Unit price: 0.00 EUR

Aggregated transactions

(1): Volume: 398 Volume weighted average price: 0.00 EUR

Endomines Finland Plc

Further information

Minni Lempinen, CFO, Endomines Finland Plc

minni.lempinen@endomines.com, +358 40 769 3483

Endomines Finland Plc is a Finnish forerunner in sustainable mining. Our operations are focused on gold production and exploration in the Karelian Gold Line in Eastern Finland. We also own the rights to seven gold deposits in the US. We produce gold for the jewellery and electronics industries and create value by turning natural resources into wealth, and we also create value by transforming natural resources into wealth, an investment that can withstand the volatility of global politics. Our vision is to develop the Karelian gold line into one of the most important and sustainable gold-producing regions in the world. Endomines is listed on the OMX Helsinki main list (PAMPALO). www.endomines.com.

Endomines Finland Plc - Managers' transactions - Joensuu

____________________________________________

Person subject to the notification requirement

Name: Joensuu, Jukka-Pekka

Position: Member of the Board/Deputy member

Issuer: Endomines Finland Plc

LEI: 7437004UOFZRIUWTUG97

Notification type: INITIAL NOTIFICATION

Reference number: 7437004UOFZRIUWTUG97_20240823103000_26

____________________________________________

Transaction date: 2024-08-23

Venue not applicable

Instrument type: SHARE

ISIN: FI4000508023

Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE

Transaction details

(1): Volume: 787 Unit price: 0.00 EUR

Aggregated transactions

(1): Volume: 787 Volume weighted average price: 0.00 EUR

Endomines Finland Plc

Further information

Minni Lempinen, CFO, Endomines Finland Plc

minni.lempinen@endomines.com, +358 40 769 3483

Endomines Finland Plc is a Finnish forerunner in sustainable mining. Our operations are focused on gold production and exploration in the Karelian Gold Line in Eastern Finland. We also own the rights to seven gold deposits in the US. We produce gold for the jewellery and electronics industries and create value by turning natural resources into wealth, and we also create value by transforming natural resources into wealth, an investment that can withstand the volatility of global politics. Our vision is to develop the Karelian gold line into one of the most important and sustainable gold-producing regions in the world. Endomines is listed on the OMX Helsinki main list (PAMPALO). www.endomines.com.

Endomines Finland Plc - Managers' transactions - Read

____________________________________________

Person subject to the notification requirement

Name: Read, Jeremy

Position: Member of the Board/Deputy member

Issuer: Endomines Finland Plc

LEI: 7437004UOFZRIUWTUG97

Notification type: INITIAL NOTIFICATION

Reference number: 7437004UOFZRIUWTUG97_20240823103000_27

____________________________________________

Transaction date: 2024-08-23

Venue not applicable

Instrument type: SHARE

ISIN: FI4000508023

Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE

Transaction details

(1): Volume: 475 Unit price: 0.00 EUR

Aggregated transactions

(1): Volume: 475 Volume weighted average price: 0.00 EUR

Endomines Finland Plc

Further information

Minni Lempinen, CFO, Endomines Finland Plc

minni.lempinen@endomines.com, +358 40 769 3483

Endomines Finland Plc is a Finnish forerunner in sustainable mining. Our operations are focused on gold production and exploration in the Karelian Gold Line in Eastern Finland. We also own the rights to seven gold deposits in the US. We produce gold for the jewellery and electronics industries and create value by turning natural resources into wealth, and we also create value by transforming natural resources into wealth, an investment that can withstand the volatility of global politics. Our vision is to develop the Karelian gold line into one of the most important and sustainable gold-producing regions in the world. Endomines is listed on the OMX Helsinki main list (PAMPALO). www.endomines.com.

Endomines Finland Plc - Managers' transactions - Ruokonen

____________________________________________

Person subject to the notification requirement

Name: Ruokonen, Eeva

Position: Member of the Board/Deputy member

Issuer: Endomines Finland Plc

LEI: 7437004UOFZRIUWTUG97

Notification type: INITIAL NOTIFICATION

Reference number: 7437004UOFZRIUWTUG97_20240823103000_28

____________________________________________

Transaction date: 2024-08-23

Venue not applicable

Instrument type: SHARE

ISIN: FI4000508023

Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE

Transaction details

(1): Volume: 475 Unit price: 0.00 EUR

Aggregated transactions

(1): Volume: 475 Volume weighted average price: 0.00 EUR

Endomines Finland Plc

Further information

Minni Lempinen, CFO, Endomines Finland Plc

minni.lempinen@endomines.com, +358 40 769 3483

Endomines Finland Plc is a Finnish forerunner in sustainable mining. Our operations are focused on gold production and exploration in the Karelian Gold Line in Eastern Finland. We also own the rights to seven gold deposits in the US. We produce gold for the jewellery and electronics industries and create value by turning natural resources into wealth, and we also create value by transforming natural resources into wealth, an investment that can withstand the volatility of global politics. Our vision is to develop the Karelian gold line into one of the most important and sustainable gold-producing regions in the world. Endomines is listed on the OMX Helsinki main list (PAMPALO). www.endomines.com.

Endomines Finland Plc

Stock Exchange Release 23 August 2024 at 13:30 EEST, Helsinki

Change in Endomines’ holding of treasury shares

Endomines has conveyed 2,570 treasury shares to the members of the Board of Directors as a part of the Board members' annual remuneration in accordance with the decision of the Annual General Meeting 2024. The amount of shares is based on the yearly remuneration decided by the Annual General Meeting and Endomines' value weighted average share price between 15 August and 21 August 2024.

The total amount of treasury shares is now 5,430.

Endomines Finland Plc

Further enquiries

Minni Lempinen, CFO, Endomines Finland Plc, minni.lempinen@endomines.com

Endomines Finland Plc is a Finnish forerunner in sustainable mining. Our operations are focused on gold production and exploration in the Karelian Gold Line in Eastern Finland. We also own the rights to seven gold deposits in the US. We produce gold for the jewellery and electronics industries and create value by turning natural resources into wealth, and we also create value by transforming natural resources into wealth, an investment that can withstand the volatility of global politics. Our vision is to develop the Karelian gold line into one of the most important and sustainable gold-producing regions in the world. Endomines is listed on the OMX Helsinki main list (PAMPALO). www.endomines.com.

Endomines Finland Plc: Managers' Transactions – Kari Vyhtinen

____________________________________________

Person subject to the notification requirement

Name: Kari Vyhtinen

Position: Chief Executive Officer

Issuer: Endomines Finland Plc

LEI: 7437004UOFZRIUWTUG97

Notification type: INITIAL NOTIFICATION

Reference number: 74713/4/4

____________________________________________

Transaction date: 2024-08-19

Venue: NASDAQ HELSINKI LTD (XHEL)

Instrument type: SHARE

ISIN: FI4000508023

Nature of transaction: ACQUISITION

Transaction details

(1): Volume: 253 Unit price: 8.28 EUR

(2): Volume: 247 Unit price: 8.32 EUR

Aggregated transactions (2):

Volume: 500 Volume weighted average price: 8.29976 EUR

Endomines Finland Plc

Further information

Minni Lempinen, CFO, Endomines Finland Plc

minni.lempinen@endomines.com, +358 40 769 3483

Endomines Finland Plc is a Finnish forerunner in sustainable mining. Our operations are focused on gold production and exploration in the Karelian Gold Line in Eastern Finland. We also own the rights to seven gold deposits in the US. We produce gold for the jewellery and electronics industries and create value by turning natural resources into wealth, and we also create value by transforming natural resources into wealth, an investment that can withstand the volatility of global politics. Our vision is to develop the Karelian gold line into one of the most important and sustainable gold-producing regions in the world. Endomines is listed on the OMX Helsinki main list (PAMPALO). www.endomines.com.

Endomines Finland Plc: Managers' Transactions – Ilkka Räty

____________________________________________

Person subject to the notification requirement

Name: Ilkka Räty

Position: Other senior manager

Issuer: Endomines Finland Plc

LEI: 7437004UOFZRIUWTUG97

Notification type: INITIAL NOTIFICATION

Reference number: 74710/4/4

____________________________________________

Transaction date: 2024-08-19

Venue: NASDAQ HELSINKI LTD (XHEL)

Instrument type: SHARE

ISIN: FI4000508023

Nature of transaction: ACQUISITION

Transaction details

(1): Volume: 259 Unit price: 8.32 EUR

Aggregated transactions (1):

Volume: 259 Volume weighted average price: 8.32 EUR

Endomines Finland Plc

Further information

Minni Lempinen, CFO, Endomines Finland Plc

minni.lempinen@endomines.com, +358 40 769 3483

Endomines Finland Plc is a Finnish forerunner in sustainable mining. Our operations are focused on gold production and exploration in the Karelian Gold Line in Eastern Finland. We also own the rights to seven gold deposits in the US. We produce gold for the jewellery and electronics industries and create value by turning natural resources into wealth, and we also create value by transforming natural resources into wealth, an investment that can withstand the volatility of global politics. Our vision is to develop the Karelian gold line into one of the most important and sustainable gold-producing regions in the world. Endomines is listed on the OMX Helsinki main list (PAMPALO). www.endomines.com.

Endomines Finland Plc: Managers' Transactions – Sampo Hirvonen

____________________________________________

Person subject to the notification requirement

Name: Sampo Hirvonen

Position: Other senior manager

Issuer: Endomines Finland Plc

LEI: 7437004UOFZRIUWTUG97

Notification type: INITIAL NOTIFICATION

Reference number: 74698/4/4

____________________________________________

Transaction date: 2024-08-16

Venue: NASDAQ HELSINKI LTD (XHEL)

Instrument type: SHARE

ISIN: FI4000508023

Nature of transaction: ACQUISITION

Transaction details

(1): Volume: 183 Unit price: 8.14 EUR

Aggregated transactions (1):

Volume: 183 Volume weighted average price: 8.14 EUR

Endomines Finland Plc

Further information

Minni Lempinen, CFO, Endomines Finland Plc

minni.lempinen@endomines.com, +358 40 769 3483

Endomines Finland Plc is a Finnish forerunner in sustainable mining. Our operations are focused on gold production and exploration in the Karelian Gold Line in Eastern Finland. We also own the rights to seven gold deposits in the US. We produce gold for the jewellery and electronics industries and create value by turning natural resources into wealth, and we also create value by transforming natural resources into wealth, an investment that can withstand the volatility of global politics. Our vision is to develop the Karelian gold line into one of the most important and sustainable gold-producing regions in the world. Endomines is listed on the OMX Helsinki main list (PAMPALO). www.endomines.com.

Endomines Finland Plc – Stock Exchange Release, Half-Year Interim Report – 15/8/2024, at 11.00 EEST

Endomines Half-Year Business Review 1.1.2024–30.6.2024: significant turnaround in our business

This release is a summary of Endomines Finland Plc's Half-Year Report for the period January-June 2024. The full report is attached to the release and available on our website at https://endomines.com/en/for-investors/reports-and-presentations/.

January-June 2024 in brief

• The group’s revenue increased by 22% and was 13.1 MEUR (10.7 MEUR). 100% of the group's revenue consists of the revenue of Pampalo production segment
• Gold production in January – June 2024 increased by 4%, production was 218.3 kg (210.0 kg) which is 7,019 oz (6,753 oz). 100% of the group's production consists of Pampalo production segment's production
• The group’s EBITDA was 1.9 MEUR (0.4 MEUR), which is 15% of the revenue (3%)
• Pampalo production segment’s EBITDA was 4.0 MEUR (2.4 MEUR), which is 31% of the revenue (22%)
• The group's operating result was 0.1 MEUR (-0.8 MEUR)
• The group's net result was -1.0 MEUR (-1.9 MEUR)
• The group's interest-bearing net liabilities at the end of June was 18.0 MEUR (11.6 MEUR), the net gearing ratio was 56% (33%) and the equity ratio was 50% (66%)
• At the end of June, the group's cash and bank receivables were 3.0 MEUR (1.2 MEUR)
• On February 1, 2024, Endomines started gold production at the Hosko production area located on the Karelian gold line
• On March 13, 2024, Endomines announced its 2024 ore reserve and mineral resources estimate for the Pampalo mine and the Karelia gold line deposits, according to the situation on December 31, 2023. Endomines also reports gold and silver resource estimates for gold deposits located in Idaho and Montana in the United States. The Karelian gold line, including Pampalo, has a total of 310,300 oz of gold in measured, indicated and inferred categories mineral resources grades additional to ore reserves, as estimated in accordance with the JORC (2012) code. The updated ore reserve and mineral resource estimate represents a 72% (129,800 oz) increase compared to the 2023 resource estimate. There was no change in the reported mineral resources of U.S. deposits
• On March 13, 2024, Endomines has agreed with a group of Finnish investors for a maximum of 3.8 MEUR convertible bonds related to the expansion of ore exploration on the Southern gold line and general business needs
• During February to March 2024, Endomines completed a deep drilling program in Kuittila, on the Southern gold line. The deep drilling program consisted of eight boreholes, with a total length of 5,076.8 meters. Based on the results, the known mineralized zone was significantly extended downward, all drill holes intersected the gold mineralization
• On June 10, 2024, the financing arrangement with LDA Capital Limited has ended, when the right to subscribe shares with warrants ended

Significant events after the end of the reporting period

• 11.7.2024 Endomines reports results from the 2023-2024 base of till sampling program performed at the Southern gold line area.
• 16.7.2024 Endomines reports the results of the drilling program carried out in the Karelian gold line Korvilansuo during the spring of 2024
• 31.7.2024 Endomines reports that it has reached its production capability to run the production periodically at a production level of 20,000 ounces
• 1.8.2024 Endomines reports high-grade exploration results from Kartitsa

CEO’s Review

Endomines' January-June 2024 was overall strong. We took a big leap towards our future goals. Our revenue grew by 22% and was 13.1 MEUR (10.7 MEUR), the group's EBITDA was 1.9 MEUR (0.4 MEUR) and our operating result was 0.1 MEUR positive (-0.8 MEUR). Our production at Pampalo increased by 4% compared to the strong comparison period and was 218.3 kg (7,019 oz). Pampalo production EBITDA rose to 4.0 MEUR (2.4 MEUR) and was 31% of revenue (22%). The strong price development of gold supported operations at the beginning of the year. In March, the spot price rose to its new record of 2,160 USD/oz, and in May the price already exceeded 2,400 USD/oz. Sustainability is a key part of our strategy and in April we published Endomines' first sustainability report.

We completely renewed our strategy in the summer of 2022. After renewing the strategy, we have achieved a significant turnaround in our business, both operationally and financially.

Our vision is to grow Karelia's gold line into one of the most significant responsible gold production areas in the world. The plan is to achieve this by increasing production from current production areas and at the same time to start production also in new production areas. Increasing Pampalo's production volume continued according to our plan, and at the same time the EBITDA increased by 68.4% compared to the comparison period.

We will continue increasing the production level at Pampalo towards the 20,000 oz annual production level, and then upwards. After the reporting period, we announced that we had achieved the capability to run production periodically at this level. Production was run at a higher level for two weeks from July 16th to July 29th, 2024. Total production during the period was approximately 26.7 kg (858 ounces) of gold. On an annual basis, the production level achieved is equivalent to approximately 22,300-ounce production. We see this very significant milestone as the achieved production period confirms that the joint production of Pampalo and Hosko can be increased to the target level of 20,000 ounces per year for longer periods.

Early 2024, we submitted an environmental permit application to take the Pampalo NW and Pampalonlammit areas into production. We also started nature surveys in the Southern gold line area. Our goal is to complete the environmental impact assessment program for the area in early 2025 and at the same time start a more detailed technical planning for placing the area into production. We believe that the Southern gold line offers a unique opportunity to multiply the production volume and take the company to a larger size category within 5–7 years. In planning, our goal is to create a production area where the effects on nature are minimized and at the same time a cooperative concept of gold production and tourism is created. This can include the manufacture of gold jewelry by a goldsmith, cafe operations, gold panning and the presentation of the rich history of the area. At the same time, we want to invest in preserving the area's valuable nature as a source of well-being for all of us.

Our strong investment in exploration supports our goal of growing the Karelian gold Line into a significant gold production area on a global scale. Our goal is to define a gold mineralization of more than one million ounces in the area. In March 2024, we announced a significant resource update, where gold resources increased by 72%, to over 310,000 ounces of gold. We are well on our way towards our strategic goal.

In exploration, we started the year with the Southern gold line in Kuittila and Korvilansuu. The results of the deep drilling program in the Kuittila area confirmed the continuation of the mineralized zone downwards in the bedrock. We published the results of the Korvilansuo drilling program in July. The results confirmed the wide continuation of high-grade mineralization towards the north. In both programs, every drill hole intersected gold mineralization. We believe that both programs will have a positive impact on our next resource update.

In base of till sampling programs, sampling is carried out from the surface of the bedrock. The gold concentrations in the samples indicate gold potential in the bedrock. The results strongly guide the location of future drilling programs. In July, we announced the results of base of till sampling from the Southern gold line. The program included 1,066 samples in the vicinity of Kuittila and Korvilansuo. Based on the results, we identified eight gold potential areas near known gold deposits. Such results from previously untested areas, in the immediate vicinity of known deposits, indicate a great possibility of growing the known deposits into much larger than the current size. Several of the analyzed samples also contained molybdenum, which is used in the steel industry, and tungsten, a raw material for the military industry. Tungsten has been designated as a critical mineral in the European Union and we will explore the possibilities for utilizing these minerals as well.

Regarding the Northern gold line, we published the results of the base of till sampling program carried out in Kartitsa in February 2024. Based on the results, an approximately two-kilometer-long gold potential area was identified. The area's first larger drilling program was launched in the spring of 2024. The results published after the reporting period confirmed the gold potential in the area, and the results of the northernmost drill hole particular were excellent. We see the potential of the area as very significant, and we will continue exploration in this area in the future.

Up North we also started production at Hosko's new open pit. After the start of the open pit, we were able to visually see the structures of the bedrock and gained significant additional information about the direction of continuity of the Hosko ore. Based on this, we implemented a drilling program in the summer of 2024 also in Hosko. We believe that the exploration potential in Hosko is significant.

In the US, our goal is to develop operations through a partnership model. During January-June, we actively worked to achieve this important goal. Partnership negotiations will be an important priority in our operations during July-December 2024.

Overall, we are moving towards the end of 2024 with a positive attitude. We expect an increase in our gold production compared to the beginning of the year. We especially believe that the production volumes of Hosko and Pampalo open pit (East) will increase at the end of the year. In exploration our activities focus on increasing the gold resources on the Southern gold Line.

The price of gold has continued to rise during the year. In January-March, the average price of gold was 2,073 USD/oz, and in April-June, the average price rose to 2,337 USD/oz. In several forecasts, the price outlook for the end of the year is positive. The political turmoil in the United States is predicted to have a positive effect on the price of gold.

I would like to thank our employees and partners for a job well done during the beginning of the year. We can be proud of the results achieved and continue our journey towards the next target levels. I would also like to thank our owners and other stakeholders for their pleasant cooperation.

Guidance for fiscal year 2024

We estimate that gold production will increase by 15–35% from 2023.

We expect the financial result to improve from 2023.

Gold's recent price development and strong short-term market prospects support the outlook for 2024.

Webcast

A live webcast for analysts, investors, and the media will take place on August 15th, 2024, at 14.00. The event will be held in Finnish, with presentation materials in English. To participate in the event, please follow this link. A recording of the webcast will be available later on the company's website at https://endomines.com/en/for-investors/reports-and-presentations/

Endomines Finland Plc

Further information

Kari Vyhtinen, CEO, Endomines Finland Plc

kari.vyhtinen@endomines.com, +358 40 585 0050

Minni Lempinen, CFO, Endomines Finland Plc

minni.lempinen@endomines.com, +358 40 769 3483

Endomines Finland Plc is a Finnish forerunner in sustainable mining. Our operations are focused on gold production and exploration in the Karelian Gold Line in Eastern Finland. We also own the rights to seven gold deposits in the US. We produce gold for the jewellery and electronics industries and create value by turning natural resources into wealth, and we also create value by transforming natural resources into wealth, an investment that can withstand the volatility of global politics. Our vision is to develop the Karelian gold line into one of the most important and sustainable gold-producing regions in the world. Endomines is listed on the OMX Helsinki main list (PAMPALO). www.endomines.com.

Endomines Finland Plc – Investor News, 2/8/2024, at 10.00 EET.

Endomines Finland Plc will publish its H1/2024 Half Year Financial Report on 15/8/2024 – an invitation to a webcast

The Half-Year Financial Report for 1 January–30 June 2024 will be published on Thursday 15/8/2024 by 12:00 EET.

Webcast on Thursday 15/8/2024 at 14.00 EET

The company will present the results, key events for the reporting period, and outlook to analysts, investors, and the media in a webcast starting at 14.00 (EET) on the same day. The online event will be in Finnish and can be viewed live at https://endomines.videosync.fi/q2-2024. The presentation material will be in English. There will be an open Q&A session via chat. Questions can also be sent in advance to ir@endomines.com.

A recording of the presentation and the presentation material will be available after the event on Endomines’ website at: https://endomines.com/en/for-investors/reports-and-presentations/.

Endomines Finland Plc

Further information

Riikka Niemi, corporate, IR- and ESG-communications, riikka.niemi@endomines.com, +358 40 5056474 

Endomines Finland Plc is a Finnish forerunner in sustainable mining. Our operations are focused on gold production and exploration in the Karelian Gold Line in Eastern Finland. We also own the rights to seven gold deposits in the US. We produce gold for the jewellery and electronics industries and create value by turning natural resources into wealth, and we also create value by transforming natural resources into wealth, an investment that can withstand the volatility of global politics. Our vision is to develop the Karelian gold line into one of the most important and sustainable gold-producing regions in the world. Endomines is listed on the OMX Helsinki main list (PAMPALO). www.endomines.com.

Endomines Finland Plc – Stock Exchange Release, Inside information – 1/8/2024, at 11.15 EET.

Inside information: Endomines reports high-grade exploration results from Kartitsa

Endomines reports results from the exploration drilling program carried out in the spring-summer 2024 at Kartitsa, in the northern part of the Karelian Gold Line. The program consisted of 12 drill holes for a total of 2099.65 meters. The results, highlighted below, confirm the high-grade potential and extensiveness of the newly discovered Kartitsa gold system. Endomines reported results of the Kartitsa base of till sampling program in February 2024 and those results were utilized to plan the drilling campaign now completed.

The discovery of high-grade, near-surface gold mineralized zones North of the known Kartitsa mineralization supports further exploration potential in the area. In particular, KA-014 successfully intersected a high-grade gold mineralized zone near the surface and provides an excellent follow-up target. Nine of twelve holes drilled in the area in 2024 returned intercepts above the lower cut-off grade of 0.4 g/t.

Highlights of the spring-summer 2024 Kartitsa drilling program:

• Drill hole KA-014 intersected 13.05 meters at 2.76 g/t gold from 25.90 m
  • Including 2.00 meters at 10.92 g/t gold from 30.08 m.
• Drill hole KA-015 intersected 8.40 meters at 2.06 g/t gold from 101.95 m,
  • including 0.85 meters at 6.39 g/t gold from 104.70 m
• Drill hole KA-012 intersected 11.40 meters at 1.25 g/t gold from 81.00 m,
  • Including 1.10 meters at 3.02 g/t gold from 85.30

"Our exploration team continues to deliver excellent results. Locations we determined based on the recent base of till results led to a successful drilling campaign. We are excited to see that drill hole KA-014 intersected a 2-meter distance of 10,92 g/t gold and over a 13-meter distance of 2,76 g/t gold. The results achieved are excellent results for any drilling campaign but especially promising for an initial, larger drilling campaign in a new area. We see the exploration potential of the Karelian gold line as very significant and will continue our work to define >1M ounce deposits in the area. Our long-term vision is to have several large gold operations in the area, making it a major sustainable gold production area in the world” comments Kari Vyhtinen, CEO of the company.

The significant drill intersections from the Kartitsa 2024 drilling program are presented in Table 1 and the locations of the new drill holes are presented in the map (Figure 1).

Geology

The gold mineralization discovered in Kartitsa occurs as a pyrite +- magnetite assemblage within strongly altered (potassic alteration) volcanic and sedimentary rocks overlying the Kartitsa intrusive. The strong potassic alteration in the area proximal to the Kartitsa intrusive consists of microcline, biotite, and sericite while the pervasive distal alteration observed through all the holes drilled in the area consists of sericite only. The scale and intensity of the pervasive potassic alteration and the magnetic anomalies observed on the rim of the Kartitsa intrusive support the potential for a significant gold deposit.

Karelian Gold Line

The Karelian Gold Line is 40 kilometers long, a gold prospective portion of the Ilomantsi greenstone belt located in Eastern Finland approximately 500 kilometers northeast of Helsinki. The area hosts several gold deposits, the largest known being Pampalo. The Pampalo mine has produced 190,000 ounces of gold at an average grade of 3.6 g/t. Endomines controls 100% of the exploration rights covering over 100 km2 across the Karelian Gold Line.

Drilling technical

All surface drilling has been carried out by KDC Oy, using WL-66 tubes, resulting in a core of 50.5 mm in diameter. Drill hole locations have been surveyed by using mine survey equipment. A downhole survey of bearing and dip deviations has been completed with the SPT GyroMaster survey tool. All cores have been oriented with SPT CoreMaster equipment.

Assay and QA/QC procedures

The drill cores have been logged by Endomines' personnel. The drill cores have been cut in half by Palsatech Oy in Sodankylä prior to shipping to Labtium laboratory in Sodankylä. Samples were sent to Eurofins Labtium laboratory in Sodankylä for preparation and analysis of 705P (Gold), and 304PM1 (multi-element). When deemed necessary by the laboratory (when adequate fusion of the sample was not achieved) gold was assayed with 703P or 704P methods.

Normal QA/QC (Quality Assurance/Quality Control) procedures have been adhered to on all the samples, with standards, blanks and duplicates routinely submitted as part of the sampling program. The quality of sample preparation, security integrity and chemical assays was equal to, or exceeded, current industrial standards and the requirements of the JORC-code.

Competent Person

This statement has been controlled by Eurogeologist Jani Rautio MSc (Geol) acting as a Qualified Person in compliance with the Fennoscandian Association for Metals and Mining Professionals, FAMMP, –standards. Jani Rautio is a full-time employee of Endomines and owns 2,000 shares in Endomines.

Figure 1) Location map of the 2024 drilling program drill holes collars in relation to existing holes prior to the 2024 drilling campaign, gold concentration in a base of till, and Total Magnetic Intensity map obtained by UAV magnetic survey at Kartitsa, Karelian Gold Line.

Table 1) Diamond drilling results 2024 from Kartitsa, Karelian Gold Line, Finland.

Note: A lower cut-off of 0.4 g/t Au and a maximum 5 m consecutive internal dilution was used for reporting. No upper cut-off grade was applied, and all figures were rounded up. True widths are not yet determined.

Endomines Finland Plc

Further information

Kari Vyhtinen, CEO Endomines Finland Plc

 kari.vyhtinen@endomines.com, +358 40 585 0050

Jani Rautio, Head Geologist Endomines Finland Plc

 jani.rautio@endomines.com, +358 50 593 0812

Endomines Finland Plc is a Finnish forerunner in sustainable mining. Our mining operations in Pampalo, Ilomantsi region, focus on gold mining and processing, as well as exploration in the Karelian gold line, in Eastern Finland. We also own the rights to seven gold deposits in the US. We produce gold for the jewellery and electronics industries and create value by transforming natural resources into wealth, an investment that withstands the volatility of global politics. We are a growing mining company that embraces new ways of thinking; we want to leave a positive footprint where we operate, which is why our goal is to grow the Karelian gold line into a significant, sustainable gold-producing region. Endomines is listed on the main list of OMX Helsinki (PAMPALO). www.endomines.com.

Endomines Finland Plc – Stock Exchange Release, Inside Information – 31/7/2024, at 11.00 EET.

Inside information: Endomines Finland Plc has reached its production capability to run the production periodically at a production level of 20,000 ounces

Endomines’ medium-term operational target, published on 13^th October 2022, is to achieve an annual gold production level of 20,000 ounces by the end of 2024. In 2024, the objective is to run production periodically at this level, and thereby ensure the ability to operate at a higher production level.

The first period in 2024 where production is run at a higher level, with no change to the normal working schedule, was successfully implemented in July. Production was run at a higher level for two weeks from July 16th to July 29th, 2024. Total production during the period was approximately 26.7 kg (858 ounces) of gold. On an annual basis, the production level achieved is equivalent to approximately 22,300-ounce production. The ore processed in production was sourced from the Pampalo underground mine and the new open pit mine at Hosko, which was opened in February. The production plant was running for 11 days during the period, which also included three non-production shutdown days. The normal rotation of the plant in 2024 is about two days of downtime after every eight days of production.

Published production volumes are based on preliminary data, the final figures may change slightly after final specifications have been received for all deliveries to customers. However, the change in the figures reported here is not expected to be significant. The company's production in 2024 is expected to increase by 15–35% compared to the previous year, in line with guidance. Production levels are expected to vary due to the nature of the business. Production is expected to increase in line with the plan by periodically running at higher levels.

"The production period achieved is a strategically important milestone. The achieved production period confirms that the joint production of Pampalo and Hosko can be increased to the target level of 20,000 ounces per year for longer periods. It is also possible to change our current shift system and increase production days in the future as ore production increases from different sites. We will continue to increase our gold production towards a more permanent production level of 20,000 ounces and then beyond," says Kari Vyhtinen, CEO of the company.

Endomines Finland Plc

Further information

Kari Vyhtinen, CEO of Endomines Finland Plc

kari.vyhtinen@endomines.com, +358 40 585 0050

Endomines Finland Plc is a Finnish forerunner in sustainable mining. Our mining operations in Pampalo, Ilomantsi region, focus on gold mining and processing, as well as exploration in the Karelian gold line, in Eastern Finland. We also own the rights to seven gold deposits in the US. We produce gold for the jewellery and electronics industries and create value by transforming natural resources into wealth, an investment that withstands the volatility of global politics. We are a growing mining company that embraces new ways of thinking; we want to leave a positive footprint where we operate, which is why our goal is to grow the Karelian gold line into a significant, sustainable gold-producing region. Endomines is listed on the main list of OMX Helsinki (PAMPALO). www.endomines.com.