Endomines

Endomines Finland Plc – Inside Information – 23.6.2025, at 14:45 EEST

Inside Information: Notice on the conversion of convertible loan into shares

Endomines has received a conversion notice related to convertible loans, based on which a total of EUR 248,295.88 will be converted to new shares of Endomines Finland Plc.

Hietamoor Oy will convert a total of EUR 124,164.38 to new Endomines Finland Plc shares. In accordance with the convertible loan agreement, the exchange price is approximately EUR 3.51 per share.

Eyemaker’s Finland Oy will convert a total of EUR 124,131.50 to new Endomines Finland Plc shares. In accordance with the convertible loan agreement, the exchange price is approximately EUR 3.51 per share.

The exchange price consists of the daily average price calculated at the share's closing price during 15 May 2023 – 15 June 2023 with a deduction of 15 per cent.

As a result of the conversions, 70,647 new Endomines Finland Plc shares will be registered and issued. The total number of shares and votes in Endomines increases from 11,022,388 shares and votes to 11,093,035 shares and votes. After registration, the new shares correspond to approximately 0.64 per cent of the company's total number of shares and votes.

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 United States. We produce gold for the jewellery and electronics industries and create value by turning natural resources into wealth; an investment that can withstand global political instability. 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 (PAMPALO). www.endomines.com.

Endomines Finland Plc – 28/5/2025, at 10:00 EEST 

Inside information: The high-grade drilling result confirm that Ukkolanvaara area contains significant amounts of gold

In a stock exchange release published in February 2025, Endomines reported discovering a new gold potential zone in the Karelian Gold Line. In the release dated February 11, 2025, the company stated that significant amounts of gold had been assayed in bedrock samples taken from Ukkolanvaara, located in the Southern Gold Line.

Endomines has now executed the first drilling program in the Ukko-deposit and received the results of the first drill hole. The results are exceptional, as the same drill hole intersected three significant gold zones. At the same time, the first analysis result now confirms the presence of gold mineralization in Ukkolanvaara.

The results of Ukkolanvaara drill hole UKKO-001:

• Drill hole UKKO-001 intersected 30.95 m @ 3.28 g/t gold from 45.55 m
  • Including 9.35 m @ 7.08 g/t gold from 48.45 m
• Drill hole UKKO-001 intersected 20.00 m @ 1.60 g/t gold from 16.20 m
  • Including 1.75 m @ 5.52 g/t gold from 18.95 m
  • Including 3.05 m @ 4.07 g/t gold from 26.90 m
• Drill hole UKKO-001 intersected 6.30 m @ 2.67 g/t gold from 3.35 m
  • Including 1.20 m @ 9.90 g/t gold from 5.00 m

"An impressive result was achieved with the very first drill hole. The result confirms the great gold potential of the Ukko-deposit in Ukkolanvaara. Three such high-grade gold zones in the same drill hole is something we have never seen before in exploration. The plan was to conduct only a three to four-week research campaign in the area, but we have decided to continue the investigations indefinitely. The iron deposit in Ukkolanvaara is very extensive. Additionally, observations of visible gold in several drill holes indicate that gold is present over a wider area in connection with the iron deposit. We believe the gold discovery will prove to be significant,” comments Kari Vyhtinen, CEO of the company.

The significant drill intersections from the UKKO-001 drill hole are presented in Table 1 and the location of the exploration drill holes are presented in the map (Figure 1). All locations and coordinates used for this release rely on the planned coordinates. Definitive collar locations will be measured by a surveyor at the end of the drilling program.

Visible gold in drill holes, results to be completed soon

12 holes with a total length of 2930 meters have been drilled in Ukkolanvaara so far. Drilling is still ongoing, and the analysis results of other drill holes are pending. Based on visual inspection, visible gold has been observed in several of the currently drilled holes. This indicates that the gold mineralization extends over a wider area.

Due to its significant overall potential, the Ukkolanvaara area is now the company's primary exploration target for the 2025 drilling, base of till sampling, and geological mapping campaigns.

Geology of Ukkolanvaara

The most intense gold mineralization has been observed within tightly folded iron formation (BIF, Banded Iron Formation) where pyrrhotite replaces magnetite bands. To date, visible gold grains have been observed in four drill holes at Ukkolanvaara (UKKO-001, UKKO-002, UKKO-003 & UKKO-005). The alteration halo around the mineralization includes chlorite, carbonates green micas and iron sulphides.

Drilling technology and quality assurance  

All surface drilling has been carried out by MK Core Drilling Oy, using WL-76 tubes, resulting in a core of 57.5 mm in diameter. Drill hole locations will be surveyed after completion of the drilling program. All coordinates and maps used in this release reflect planned coordinates. A downhole survey of bearing and dip deviations has been completed with the DeviFlex survey tool. All cores have been oriented with the Reflex ACT3 equipment.

The drill cores have been logged by Endomines own personnel. The drill cores have been cut in half by Palsatech Oy in Kemi prior to the shipping to CRS’ laboratory in Kempele. Samples were sent to CRS' laboratory in Kempele for preparation (code PRP-929) and then sent to MS Analytical laboratory in Langley, Canada, where samples were analyzed by methods FAS-111 (Gold), and IMS-230 (multi element). Gold over 10 g/t was re-analysed with FAS-415 .

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.  

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.

Further information: 

Kari Vyhtinen  
CEO  
kari.vyhtinen@endomines.com  
+358 40 585 0050  

Jani Rautio  
Chief Technical Officer  
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.  

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. Endomines controls extensively exploration rights across the Karelian Gold Line.

Endomines Finland Oyj – Inside Information – 20.5.2025, at 12:00 EEST

Inside Information: Endomines publishes its updated strategy for 2025–2029: Aiming for significant growth in gold production and resources

Endomines Finland Oyj is entering a new phase, focusing on bringing new projects into production and significantly expanding the company. The goal is to open a new production facility or expand the current Pampalo facility after the strategy period, around 2030. With this expansion, the company aims for a 500–700% increase in gold production compared to the 2024 production levels.

Endomines' Board of Directors has today approved the company's long-term targets and updated strategy for 2025–2029.

Endomines' long-term targets:

• 1.5–2.0 million oz gold resources will be defined on the Karelian Gold Line by the end of 2030.
• Annual gold production level of 70,000-100,000 ounces around 2030.
• Initiation of production of tungsten, a critical mineral listed by the EU, and molybdenum, an important industrial mineral, around 2030.
• Fossil-free gold production by 2035.

Endomines' updated strategy for 2025–2029:

• Pampalo production is the engine of our performance and future scale.
• Exploration enables the long-term growth in production volumes.
• Critical minerals at Karelian Gold Line is our emerging exploration area.
• Financial stability supports our growth phase.
• Sustainability is the backbone of all our operations.

"Endomines last updated its strategy in 2022. Since then, we have achieved a significant turnaround both financially and in production: in two years, we have increased our revenue by 113% and our gold resources by 148%. However, our goals are much higher. We are now entering a new phase aimed at significant expansion around 2030, when we also aim to start production of tungsten and molybdenum. The goal is to achieve significant growth in gold production through a new Southern Gold Line production facility or the expansion of Pampalo operations, with ore mainly coming from the Southern Gold Line. The actions during the strategy period are aimed at achieving our long-term goals around 2030," says CEO Kari Vyhtinen.

Critical minerals as a focus area alongside gold on the Karelian Gold Line

In the updated strategy, critical minerals listed by the EU have been elevated as a research area for Endomines on the Karelian Gold Line alongside gold. The company has reported finding tungsten, a critical mineral listed by the EU, and molybdenum, needed in many industrial sectors, in the Southern Gold Line deposits. The company aims to start production of these minerals simultaneously with the increase in gold production levels.

Financial stability secures growth phase

Long-term financing solutions ensure the achievement of growth targets, and therefore the company emphasizes the importance of financial stability in its strategy.

"Sustainable financing solutions are a key pillar of our operations on our journey towards becoming a larger-scale company. An example of this is the EUR 12 million financing package we agreed on April 30, 2025. We want to stand out from companies that require multiple annual financing rounds to achieve their operational goals," says Vyhtinen.

Sustainability is the backbone of our operations

As a pioneer in sustainable mining, Endomines takes responsibility for the environmental and social impacts of its business. The company aims to be a leader in setting and implementing sustainability goals. Endomines updated its sustainability program at the end of 2024. The new sustainability program focuses on carbon-free gold, clean water, biodiversity conservation, employee safety and well-being, community trust, and promoting ethical practices in governance.

"Especially in the upcoming phase of accelerated growth, sustainability and anticipating future expectations become even more important. Sustainable practices, technologies, and innovations must be considered in the planning and implementation of new operations. To ensure continuous stakeholder trust and secure our social license to operate, it is crucial for us to act correctly, respecting people and the environment," says Vyhtinen.

Management team expands with the new strategy

To support the implementation of the new strategy, Endomines is expanding its management team. During May, the company's Chief Communications Officer Anni Turpeinen and Chief Sustainability Officer Hanne Mäkelä, who started on May 12, 2025, have joined the management team. In addition to CEO Kari Vyhtinen, the management team continues to include CFO Minni Lempinen, COO Ilkka Räty, CDO Sampo Hirvonen, and Jani Rautio. Jani Rautio's role will change from Chief Geologist to CTO. This change enables influence on long-term production plans and development projects, in addition to exploration.

"The expanded management team brings diversity to our operations and strengthens the company's overall capabilities. Sustainability is a key part of our strategy, and Hanne Mäkelä's strong experience in implementing sustainability programs will enable the smooth integration of our sustainability goals into our expansion projects. Additionally, Mäkelä will be responsible for the company's HR, and her experience will bring additional expertise in developing employee well-being. Communication is extremely important for a listed, responsibly operating company, and Turpeinen's appointment to the management team is a natural continuation of the well-executed communication work," says Vyhtinen.

Endomines presents strategy and goals in webcast event

Endomines will present its updated strategy and new long-term goals today, Tuesday, May 20, 2025, from 15:00 to 16:00 in a webcast event. The event can be followed live via webcast here: https://endomines.videosync.fi/strategy-2025-2029 or as a recording after the event at  https://endomines.com/en/for-investors/reports-and-presentations/. During the event, the audience will have the opportunity to ask questions. The language of the webcast event is English.

Lisätiedot:

Kari Vyhtinen
CEO
Endomines Finland Oyj
kari.vyhtinen@endomines.com
+358 40 585 0050

Endomines Finland Oyj on suomalainen, kestävän kaivostoiminnan edelläkävijä. Toimintamme keskittyy kullan tuotantoon ja malminetsintään Karjalan kultalinjalla, Itä-Suomessa. Omistamme myös oikeudet seitsemään kultaesiintymään Yhdysvalloissa. Tuotamme kultaa koru- ja elektroniikkateollisuudelle, ja luomme arvoa muuttamalla luonnonvarat vauraudeksi, sijoitukseksi, joka kestää maailmanpolitiikan epävakauden. Visiomme on kehittää Karjalan kultalinjasta yksi maailman merkittävimmistä ja kestävimmistä kullantuotantoalueista. Endomines on listattu OMX Helsingin päälistalle (PAMPALO). www.endomines.com.

Endomines Finland Plc – Press Release, Investor News, 14/5/2025, at 17:15 EEST

Endomines Finland Plc will publish updated strategy for 2025–2029 – an invitation to a webcast

Endomines Finland Plc will publish its updated strategy for 2025–2029 on Tuesday, May 20, 2025, at approximately 12:00 EEST.

Webcast on Tuesday, May 20, 2025, at 15:00 EEST.

At the event, Endomines Finland Oyj's CEO Kari Vyhtinen will present the updated strategy and new long-term goals to investors, analysts, and the media. You can participate in the event at: https://endomines.videosync.fi/strategy-2025-2029. There will be an open Q&A session via chat.

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

Further information:
Anni Turpeinen 
Chief Communications Officer
+358 50 554 1543 
anni.turpeinen@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, Stock Exchange Release, 13/5/2025 at 17:15 EEST.

Resolutions of Endomines Finland Plc's Annual General Meeting and the organizing meeting of the Board of Directors

The Annual General Meeting of Endomines Finland Plc was held on May 13^th, 2025, in Helsinki.

Financial statements for the fiscal year 2024

The General Meeting adopted the financial statements for the fiscal period 2024 and resolved that the net loss of the financial period, EUR -2,022,283.77, be transferred to retained earnings/loss account and no dividend be paid.

Resolution on the discharge from liability of the members of the Board of Directors and the CEO 

The General Meeting resolved to grant discharge from liability for the members of the Board of Directors and the CEO for the period 1 January 2024 – 31 December 2024 as well as for the preparation of the financial statements.

Handling of the remuneration report of the governing bodies

The General Meeting resolved, in accordance with the Board’s proposal, to adopt the remuneration report of the governing bodies. The resolution of the General Meeting is advisory.

Resolution on remuneration of the members of the Board of Directors 

The General Meeting resolved, in accordance with the proposal of the Shareholders’ Nomination Committee, that the elected members of the Board of Directors will be paid the following annual remuneration that is in line with the previous year's Board remuneration:

- Chair of the Board of Directors EUR 35,000;

- Vice Chair of the Board of Directors EUR 25,000; and

- member of the Board of Directors EUR 20,000.

The annual remuneration of the Board members will be paid in company shares and in cash, so that approximately 30% of the annual remuneration amount is used to acquire company shares for the Board members and the rest is paid in cash. The company is responsible for the costs and transfer tax arising from the acquisition of the shares. The company's shares will be acquired directly on behalf of the members of the Board within two (2) weeks after the company's half-year interim report for the period 1 January – 30 June 2025 has been published.

In addition, a meeting remuneration of EUR 300 will be paid for each physical Board meeting attended by a member.

Remuneration for committee members (ESG Committee, the Audit Committee, the Technology and Safety Committee) is EUR 2,500 per Board member per committee in which the Board member serves. The annual remuneration of the chair of the committees is EUR 5,000.

Annual remunerations for committees and meeting remunerations for Board meetings are paid in cash.

Resolution on the number of members of the Board of Directors and the election of members of the Board of Directors

The General Meeting resolved, in accordance with the proposal of the Shareholders’ Nomination Committee, to confirm the number of members of the Board of Directors as five (5) and to re-elect the current members of the Board Jukka-Pekka Joensuu, Eeva Ruokonen, Markus Ekberg and Jukka Jokela as members of the Board of Directors. Kyösti Kakkonen was elected as a new member of the Board of Directors.

Resolution on the remuneration of the Auditor and the election of the Auditor

The General Meeting resolved, in accordance with the recommendation of the Audit Committee, to elect the audit firm KPMG Oy Ab as the auditor, which had announced that it will appoint Antti Kääriäinen, Authorised Public Accountant, as the principal auditor. The auditor’s fees will be paid according to the auditor’s reasonable invoice approved by the company.

Authorizing the Board of Directors to decide on the acquisition of the company's own shares

The General Meeting resolved, in accordance with the Board’s proposal, to authorize the Board of Directors to decide on the acquisition of a maximum of 100,000 own shares in one or more installments. The amount corresponds to approximately 1% of all of the company's shares. The company’s own shares are acquired with funds from the company's unrestricted equity, which means that the acquisitions reduce the funds available for the company's profit distribution. The company’s own shares can be acquired on the day of acquisition at the price established for the shares in public trading or otherwise at the price established in the market. Own shares can be acquired other than in proportion to the shares owned by the shareholders (directed acquisition). Own shares acquired for the company can be kept by the company, cancelled, or transferred further. The authorization includes the Board's right to decide on how own shares are acquired and on all other matters related to the acquisition of own shares. The authorization is valid until 30 June 2026.

Authorizing the Board of Directors to decide on the issue of shares and the issuance of stock options and other special rights entitling to shares

The General Meeting resolved, in accordance with the Board’s proposal, to authorize the Board of Directors to decide on the issuance of shares, option rights, and other special rights entitling to shares referred to in Chapter 10, Section 1 of the Companies Act as follows: The shares may be issued in one or more tranches. The number of shares to be issued under the authorization may in total amount to a maximum of 10,000,000 shares. The shares may be either new shares or the company’s own shares held by the company. The Board of Directors was authorized to decide on all terms and conditions for share issues and the issuances of option rights and other special rights entitling to shares. Share issues and the issuance of option rights and other special rights entitling to shares may be carried out in deviation from the shareholders' pre-emptive subscription rights (directed issue) if there is a serious financial reason for the company to do so. In the company's share issues, shares may be transferred either for a fee or free of charge. A directed share issue may only be free of charge if there is a particularly compelling financial reason for it from the company's perspective and considering the interests of all its shareholders. The authorization is valid until 31 December 2027 and cancels the authorizations previously granted to the Board of Directors to decide on share issues and the issuance of option rights and other special rights entitling to shares.

The resolutions of the organizing meeting of the Board of Directors

The Board of Directors that was elected in the General Meeting held its organizing meeting after the General Meeting and elected from amongst its members Jukka-Pekka Joensuu as the Chair of the Board and Kyösti Kakkonen as the Vice Chair of the Board. Eeva Ruokonen was elected as the Chair and Jukka-Pekka Joensuu as a member of the ESG Committee; Jukka-Pekka Joensuu was elected as the Chair and Markus Ekberg as a member of the Audit Committee; and Markus Ekberg was elected as the Chair and Jukka Jokela as a member of the Technical and Safety Committee. 

Further information

Kari Vyhtinen
CEO
Endomines Finland Plc
p. +358 40 585 0050
kari.vyhtinen@endomines.com

Minni Lempinen
CFO
Endomines Finland Oyj
p. +358 40 769 3483
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 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 Nasdaq Helsinki main list (PAMPALO). www.endomines.com.

Endomines Finland Plc – Inside Information – 9.5.2025, at 15:30 EEST

Inside Information: Notice on the conversion of convertible loan into shares

Endomines has received a conversion notice related to convertible loans, based on which a total of EUR 1,050,000 will be converted to new shares of Endomines Finland Plc.

Joensuun Kauppa ja Kone Oy will convert a total of EUR 650,000 to new Endomines Finland Plc shares. In accordance with the convertible loan agreement, the exchange price is approximately EUR 13.02 per share.

Hietamoor Oy will convert a total of EUR 200,000 to new Endomines Finland Plc shares. In accordance with the convertible loan agreement, the exchange price is approximately EUR 13.02 per share.

K22 Finance Oy will convert a total of EUR 200,000 to new Endomines Finland Plc shares. In accordance with the convertible loan agreement, the exchange price is approximately EUR 13.02 per share.

The exchange price consists of the daily average price calculated at the share's closing price during the 10 trading days preceding the day of the conversion notice, minus 18 percent.

As a result of the conversions, 80,614 new Endomines Finland Plc shares will be registered and issued. The total number of shares and votes in Endomines increases from 10,941,774 shares and votes to 11,022,388 shares and votes. After registration, the new shares correspond to approximately 0.73 percent of the company's total number of shares and votes.

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 United States. We produce gold for the jewellery and electronics industries and create value by turning natural resources into wealth; an investment that can withstand global political instability. 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 (PAMPALO). www.endomines.com.

Endomines Finland Plc – Inside information – 30, April 2025 at 13:30 EEST

Inside Information: Endomines Finland Oyj has agreed on a new long-term financing arrangement valued at up to 12 million euros

Endomines Finland Plc (“Endomines” or the “Company”), in accordance with its previously announced plan on 13 January 2025, has signed an agreement with LocalTapiola, a Finnish Pension Insurance Company and Pohjois-Karjalan Osuuspankki for a new long-term financing arrangement, up to a maximum size of EUR 12 million. The agreement includes a secured loan of up to EUR 8 million, with the principal amount due on December 15, 2028. In addition, the Company has agreed with Pohjois-Karjalan Osuuspankki on an account limit of EUR 3 million and bank guarantee and financing limits totalling a maximum of EUR 1 million.

This financing complements Endomines' previous financing arrangements made through convertible bonds with the Company's largest shareholders.

“We have achieved a significant change in both our operations and financial results over the past two years. Endomines has entered a new phase where we focus on significantly increasing domestic and responsible gold production. Our goal is to raise annual gold production from over 14,300 ounces last year to 70,000–100,000 ounces by around 2030," says the company's CEO Kari Vyhtinen.

"Our exploration activities have yielded excellent results, and we will continue them actively in the future. The growth in gold resources resulting from exploration allows us to increase our production. Additionally, our goal is to explore the production of tungsten, a critical mineral listed by the European Union, and molybdenum in conjunction with the expansion of our operations. The newly signed financing arrangement provides long-term security for the company's operations and enables us to achieve our goals. We operate in a very strong gold market, and therefore the flexibility of the financing arrangement is an important element for us. In accordance with our sustainability program, we always prioritize local, responsibly operating partners, so transitioning to Pohjois-Karjalan Osuuspankki as a customer is particularly important for us. I am very pleased with the agreed financing package and our new financing partners," Vyhtinen continues.

Further information:

Kari Vyhtinen 
CEO 
Endomines Finland Oyj
kari.vyhtinen@endomines.com 
+358 40 585 0050 

Minni Lempinen  
CFO
Endomines Finland Oyj
minni.lempinen@endomines.com
+358 40 769 3483

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 – Investor News – 25/4/2025, at 13.30 EEST

Endomines Finland Plc's Sustainability Report 2024 has been published

Endomines’ sustainability report for 2024 is now published, and it is available as an attachment to this release, and on the company's website at https://endomines.com/en/for-investors/reports-and-presentations/

Further information:
Anni Turpeinen
Communications Manager
Endomines Finland Oyj
anni.turpeinen@endomines.com
tel. +358 50 554 1543

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 – Inside Information – 22.4.2025, at 12:00 EEST

Inside Information: Notice on the conversion of convertible loan into shares

Endomines has received a conversion notice related to convertible loans, based on which a total of EUR 109,506.85 will be converted to new shares of Endomines Finland Plc.

Eyemaker’s Finland Oy will convert a total of EUR 109,506.85 to new Endomines Finland Plc shares. In accordance with the convertible loan agreement, the exchange price is approximately EUR 12.59 per share.

The exchange price consists of the daily average price calculated at the share's closing price during the 10 trading days preceding the day of the conversion notice, minus 18 percent.

As a result of the conversions, 8,697 new Endomines Finland Plc shares will be registered and issued. The total number of shares and votes in Endomines increases from 10,933,077 shares and votes to 10,941,774 shares and votes. After registration, the new shares correspond to approximately 0.08 percent of the company's total number of shares and votes.

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 United States. We produce gold for the jewellery and electronics industries and create value by turning natural resources into wealth; an investment that can withstand global political instability. 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 (PAMPALO). www.endomines.com.

Endomines Finland Plc – Stock Exchange Release – 11.4.2025, at 12:15 EEST

Notice to the Annual General Meeting of Endomines Finland Plc

The shareholders of Endomines Finland Plc are invited to the Annual General Meeting to be held on Tuesday, May 13^th, 2025, at 14.00 (EEST) at Helsinki Music Centre, Glazed Foyer, at the address Mannerheimintie 13a, Helsinki, Finland. The reception of shareholders who have registered for the meeting and distribution of ballot papers will start at 13.15. (EEST) at the meeting venue.

The meeting is held as a hybrid meeting in accordance with Chapter 5, Section 16 (2) of the Finnish Limited Liability Companies Act. As an alternative to attending the General Meeting at the meeting venue, shareholders can also exercise their rights fully during the meeting remotely. Instructions for remote participation are set out in Part C of this notice to the General Meeting.

A. Matters to be discussed at the General Meeting

The General Meeting will discuss the following matters:

1. Opening the meeting

2. Matters of order for the meeting

3. Election of the persons to scrutinize the minutes and to supervise the counting of votes

4. Recording the legal convening of the meeting and quorum

5. Establishment of the persons present and confirmation of the voting list

6. Presentation of the financial statements, including consolidated financial statements and annual report as well as auditor's report for the financial year 1.1.–31.12.2024

- Presentation of the CEO's review.

The financial statements, which include the consolidated financial statements, the annual report, and the auditor's report, are available on the company's website at https://endomines.com/en/for-investors/governance/annual-general-meeting-2025/

7. Adoption of the financial statements

8. Resolution on the use of the profit shown on the balance sheet and the distribution of dividend

The Board of Directors proposes that the net loss of EUR -2,022,283.77 be transferred to the retained earnings/loss account and that no dividend be paid.

9. Resolution on the discharge of the members of the Board of Directors and CEO from liability

10. Handling of the remuneration report for governing bodies

The Board of Directors proposes that the General Meeting adopts the remuneration report for the governing bodies for the year 2024. According to the Limited Liability Companies Act, the decision is advisory.

The remuneration report for the governing bodies is available on the company's website at https://endomines.com/en/for-investors/governance/annual-general-meeting-2025/

11. Resolution on the remuneration of the members of the Board of Directors

The Shareholders' Nomination Board proposes that the annual remuneration of the Board members be as follows, in accordance with the previous year's Board remuneration:

- The chairman of the Board of Directors EUR 35,000

- The Vice Chairman of the Board of Directors EUR 25,000

- The member of the Board of Directors EUR 20,000

The Nomination Board proposes that the annual remuneration of the Board members be paid in company shares and in cash, so that approximately 30% of the annual remuneration amount is used to acquire company shares for the Board members and the rest is paid in cash. The company is responsible for the costs and transfer tax arising from the acquisition of the shares. The company's shares will be acquired within two (2) weeks after the company's interim report for the period 1 January - 30 June 2025 has been published.

In addition, a meeting remuneration of EUR 300 is proposed for each physical Board meeting per member who attended the meeting.

Remuneration for committee members (ESG Committee, the Audit Committee, the Technology and Safety Committee) is EUR 2,500 per Board member per committee in which the Board member serves. The annual remuneration of the chair of the committees is proposed as EUR 5,000. Annual remunerations for committees and meeting remunerations for Board meetings are paid in cash.

12. Resolution on the number of members of the Board of Directors

The Shareholders' Nomination Board proposes that five (5) members be elected to the Board of Directors.

13. Election of members of the Board of Directors

The Shareholders' Nomination Committee proposes the re-election of the current members of the Board of Directors Jukka-Pekka Joensuu, Markus Ekberg, Eeva Ruokonen and Jukka Jokela for a new term, and the election of Kyösti Kakkonen as a new member. Jeremy Read has announced that he is not available for re-election. The Shareholders' Nomination Committee recommends the re-election of Jukka-Pekka Joensuu as Chairman of the Board of Directors and the election of Kyösti Kakkonen as Vice Chairman of the Board of Directors. The term of the members will continue until the end of the next Annual General Meeting. All proposed Board members have given their consent to the election.

Kyösti Kakkonen is a significant figure in Finnish Business and holds a substantial ownership stake in Endomines Finland Oyj.

Jukka-Pekka Joensuu, Markus Ekberg, Eeva Ruokonen, and Jukka Jokela are independent of the company and its significant shareholders. Kyösti Kakkonen is independent of the company but not of its significant shareholders.

Specific information about the Board of Directors is presented on the company's website at https://endomines.com/en/for-investors/governance/board-of-directors/.

When making the proposal, the Shareholders' Nomination Board has taken into account the diversity policy of the company's Board of Directors and the fact that the persons to be selected have sufficient competence and experience in matters related to the company's industry and business.

14. Resolution on the remuneration of the auditor

The Board of Directors proposes, on the recommendation of the Audit Committee, that the auditor’s fees be paid according to the auditor’s reasonable invoice approved by the company.

15. Election of the auditor

The Board of Directors proposes, on the recommendation of the Audit Committee, that auditing firm KPMG Oy Ab, be re-elected as the company's auditor. KPMG Oy Ab has informed that the principal auditor will be Antti Kääriäinen, Authorised Public Accountant. The term of office of the auditor ends at the closing of the Annual General Meeting following the election.

16. Authorizing the Board of Directors to decide on the acquisition of the company's own shares

The Board of Directors proposes that it be authorized to decide on the acquisition of a maximum of 100,000 own shares in one or more installments. The amount corresponds to approximately 1 % of all the company's shares. Own shares are acquired with funds belonging to the company's unrestricted equity, in which case the acquisitions reduce the funds available for the company's profit distribution. Own shares can be acquired on the day of acquisition at the price established for the shares in public trading or otherwise at the price established in the market. Own shares can be acquired other than in proportion to the shares owned by the shareholders (directed acquisition). Own shares acquired for the company can be kept by the company, canceled, or transferred further. The authorization includes the Board's right to decide how own shares are acquired and all other matters related to the acquisition of own shares. The authorization is proposed to be valid until 30 June 2026.

17. Board's proposal to authorize the Board of Directors to decide on the issue of shares and the issuance of stock options and other special rights entitling to shares

The Board of Directors proposes that it be authorized to decide on the issue of shares in one or more installments and the issuance of stock options and other special rights entitling to shares referred to in Chapter 10, Section 1 of the Companies Act as follows: The number of shares to be issued under the authorization may in total amount to a maximum of 10,000,000 shares. The shares may be either new or treasury shares held by the company. The Board of Directors shall decide on all terms and conditions for the issuance of stock options and other special rights entitling to shares. Share issues and the issuance of stock options and other special rights entitling to shares may be carried out in deviation from the shareholders' pre-emptive subscription rights (directed issue) if there is a weighty financial reason for the company to do so. In the company's share issues, shares may be transferred either for a fee or free of charge. A directed share issue may only be free of charge if there is a particularly compelling financial reason for it from the company's perspective and taking into account the interests of all its shareholders. The authorization is valid until 31 December 2027 and repeals the authorizations previously granted to the Board of Directors to decide on share issues and the issuance of stock options and other special rights entitling to shares.

18. Closing the meeting

B. Documents of the General Meeting

This notice of the General Meeting, which contains all the proposed resolutions on the agenda of the General Meeting, the financial statements of Endomines Finland Plc, which include the consolidated financial statements, the annual report, and the auditor's report, as well as the remuneration report are available on Endomines Finland Plc's website at https://endomines.com/en/for-investors/governance/annual-general-meeting-2025/. The above-mentioned documents will also be available for inspection at the General Meeting.

The minutes of the General Meeting will be available on the above-mentioned website from May 27^th, 2025, onwards.

C. Instructions for meeting participants

1. Shareholder registered in the shareholders' register

Shareholders who are registered in the shareholders' register of Euroclear Finland Oy on the record date of the General Meeting April 30^th, 2025, are entitled to participate in the General Meeting. A shareholder whose shares in the company are registered in his/her personal Finnish book-entry account is registered in the company's shareholders register. Changes in the shareholding after the record date of the General Meeting do not affect the right to participate in the General Meeting or the shareholder's voting rights.

Registration for the General Meeting starts on April 14^th, 2025, at 10.00 (EEST). A shareholder entered in the company's shareholders' register who wishes to attend the General Meeting must register no later than May 8^th, 2025, at 10.00 (EEST), by which time the registration must be received. You can register for the General Meeting:

a) via the company's website at https://endomines.com/en/for-investors/governance/annual-general-meeting-2025/. Electronic registration requires strong identification of the shareholder or his/her legal representative or proxy with a Finnish, Swedish, or Danish bank ID or mobile certificate.

b) by e-mail to Innovatics Oy to agm@innovatics.fi. Registering shareholder shall submit the registration form available on the company's website https://endomines.com/en/for-investors/governance/annual-general-meeting-2025/ or equivalent information.

c) by mail to Innovatics Oy to Innovatics Oy, General Meeting / Endomines Finland Plc, Ratamestarinkatu 13 A, FI-00520 Helsinki, Finland. Registering shareholder shall submit the registration form available on the company's website https://endomines.com/en/for-investors/governance/annual-general-meeting-2025/ or equivalent information.

When registering, the shareholder must provide the requested information, such as the shareholder's name, date of birth or business ID, contact details, the name of any assistant or proxy, and the proxy’s date of birth, email address and phone number as well as information on whether the shareholder or his/her proxy will attend the General Meeting in person or remotely. The personal data provided by shareholders to Endomines Finland Plc or Innovatics Oy will only be used in connection with the General Meeting and the processing of the necessary registrations related thereto.

The shareholder, his/her representative, or proxy must be able to prove his/her identity and/or right of representation at the meeting venue, if necessary.

Further information on registration is available by telephone during the registration period of the General Meeting by calling Innovatics Oy at +358 10 2818 909 on weekdays from 9.00 to 12.00 (EEST) and from 13.00 to 16.00 (EEST).

2. Holder of nominee-registered shares

A holder of nominee-registered shares is entitled to participate in the General Meeting on the basis of the shares which would entitle him/her to be entered in the shareholders' register kept by Euroclear Finland Oy on the record date for the General Meeting on April 30^th, 2025. Participation also requires that the shareholder is temporarily registered in the shareholders' register held by Euroclear Finland Oy by May 8^th, 2025, by 10.00 (EEST) at the latest. In the case of nominee-registered shares, this is considered as registration for the General Meeting. Changes in the shareholding after the record date of the General Meeting do not affect the right to participate in the General Meeting or the shareholder's voting rights.

The holder of nominee-registered shares is advised to request well in advance the necessary instructions from his/her custodian bank regarding the temporary registration in the register of shareholders, the issuing of proxies and voting instructions, registration, and attendance at the General Meeting. The account manager of the custodian bank shall register the holder of nominee-registered shares who wishes to attend the General Meeting temporarily in the register of shareholders of the company by the aforementioned date and time at the latest. Further information is also available on the company's website at https://endomines.com/en/for-investors/governance/annual-general-meeting-2025/. A holder of nominee-registered shares who has registered for the General Meeting may also participate in the meeting in real-time using a telecommunication connection and technical means. In addition to the temporary registration in the company’s shareholders’ register, the real-time participation in the meeting requires the submission of the shareholder’s e-mail address and telephone number and, if necessary, a proxy document and other documents necessary to prove the right of representation to by regular mail to Innovatics Oy, General Meeting / Endomines Finland Plc, Ratamestarinkatu 13 A, FI-00520 Helsinki, Finland or by email to agm@innovatics.fi before the end of the registration period for the holders of nominee registered shares, so that the shareholders can be sent a participation link and password to participate in the meeting.

3. Proxy representatives and powers of attorney

A shareholder may attend the General Meeting and exercise his/her rights there through a proxy representative. The proxy representative must authenticate to the electronic registration service personally with strong authentication, after which he/she will be able to register on behalf of the shareholder that he/she represents. The shareholder's proxy must present dated proxy documents, or otherwise in a reliable manner prove that he/she is entitled to represent the shareholder at the General Meeting. You can prove your right to representation by using the suomi.fi e-Authorizations service available in the electronic registration service.

Model proxy documents and voting instructions are available on the company's website https://endomines.com/en/for-investors/governance/annual-general-meeting-2025/. If a shareholder participates in the General Meeting through several proxies representing the shareholder with shares held in different securities accounts, the shares on the basis of which each proxy represents the shareholder shall be identified in connection with the registration.

Any proxy documents are requested to be submitted preferably as an attachment with the electronic registration or alternatively by mail to Innovatics Oy, General Meeting / Endomines Finland Plc, Ratamestarinkatu 13 A, FI-00520 Helsinki, Finland or by e-mail to agm@innovatics.fi before the end of the registration period. In addition to submitting the proxy documents, the shareholder or his/her proxy shall register for the General Meeting in the manner described above in this notice.

4. Remote participation in the meeting

A shareholder entitled to attend a General Meeting may participate in the meeting and exercise his/her rights fully during the meeting not only by attending at the meeting venue but also by remote access.

A shareholder or proxy who has registered to attend the General Meeting at the meeting venue may change their participation to remote participation. There is no need to notify the company of the change separately. Remote participation takes place via a remote participation link sent to the telephone number and e-mail address provided when registering for the General Meeting. A shareholder or proxy who has registered to attend the General Meeting via remote participation may not change his/her participation to take place at the meeting venue.

Remote access to the General Meeting will be provided through Inderes Plc's general meeting service on the Videosync platform, which includes video and audio access to the General Meeting. Remote access does not require any paid software or downloads. In addition to an internet connection, participation requires a computer, smartphone, or tablet with speakers or headphones for sound and a microphone if you want to speak. One of the following browsers is recommended for participation: Chrome, Firefox, Edge, Safari, or Opera. It is advisable to log in to the meeting system well in advance of the meeting.

The participation link and password for remote participation will be sent by e-mail and SMS to the e-mail address and mobile phone number provided at the time of registration to all those who have registered for the General Meeting no later than the day before the General Meeting.

For more information on the general meeting service, additional instructions for proxies representing more than one shareholder, contact details of the service provider and instructions in case of possible disruptions can be found here: https://b2b.inderes.com/knowledge-base/inderes-agm-solutions. A link to test the compatibility of your computer, smartphone, or tablet with the network connection can be found here: https://demo.videosync.fi/agm-compatibility?language=en. It is recommended that you read the detailed participation instructions before the meeting.

5. Other instructions/information

The meeting language is Finnish, simultaneous interpretation is not available.

Shareholders present at the General Meeting have the right to ask questions about the matters discussed at the meeting in accordance with Chapter 5, Section 25 of the Finnish Limited Liability Companies Act.

Changes in the shareholding after the record date of the General Meeting do not affect the right to participate in the General Meeting or the shareholder's voting rights.

On the date of the notice to the General Meeting on April 11^th, 2025, Endomines Finland Plc has a total of 10,928,936 shares representing the same number of votes. The company holds a total of 5,430 of its own shares which are not entitled to vote at the General Meeting.

Coffee is served at the beginning of the meeting.

In Espoo, April 11^th, 2025

Endomines Finland Plc

BOARD OF DIRECTORS

Lisätietoja
Anni Turpeinen
Communications Manager
Endomines Finland Oyj
anni.turpeinen@endomines.com
+358 50 554 1543

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 – Inside Information – 4.4.2025, at 11:45 EET

Inside Information: Notice on the conversion of convertible loan into shares

Endomines has received a conversion notice related to convertible loans, based on which a total of EUR 54,958.90 will be converted to new shares of Endomines Finland Plc.

Vikakono Oy will convert a total of EUR 54,958.90 to new Endomines Finland Plc shares. In accordance with the convertible loan agreement, the exchange price is approximately EUR 13.27 per share.

The exchange price consists of the daily average price calculated at the share's closing price during the 10 trading days preceding the day of the conversion notice, minus 18 percent.

As a result of the conversions, 4,141 new Endomines Finland Plc shares will be registered and issued. The total number of shares and votes in Endomines increases from 10,928,936 shares and votes to 10,933,077 shares and votes. After registration, the new shares correspond to approximately 0.04 percent of the company's total number of shares and votes.

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 United States. We produce gold for the jewellery and electronics industries and create value by turning natural resources into wealth; an investment that can withstand global political instability. 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 (PAMPALO). www.endomines.com.

Endomines Finland Plc – Inside information – 2/4/2025, at 11:00 EET

Inside Information: Endomines Finland Plc's operational update Jan-March 2025: Pampalo’s gold production grew to record levels

Pampalo’s gold production increased by 19.3 % in January-March 2025, compared to the same period in 2024. Production increased by 45.9 percent compared to the previous quarter. The result for January-March is the highest quarterly production since the restart of the production in December 2021.

• Production during Q1/2025 was 140.4 kg (117.7 kg), in ounces 4,513 oz (3,783 oz) of gold.  
• In 2024, Endomines produced 444.9 kg, in ounces 14,304 oz of gold.

Published production volumes are based on preliminary data, final figures may change slightly after final specifications have been received for all deliveries to customers. However, the change is not expected to be significant. The company’s full-year 2025 production is expected to be 497.7–684.3 kg (16,000–22,000 oz)

"We achieved peak production figures in a very strong gold market. Our production has grown for the fifth consecutive quarter compared to the comparison period. I am very pleased with the result, and I see the 45.9 percent growth compared to the previous quarter as particularly positive. The average gold price during the first quarter was 2,862 USD/ounce, compared to the average price of 2,073 USD/ounce in the comparison period. At the end of March, the prevailing geopolitical uncertainty in the world raised the gold price to a record level of 3,100 USD/ounce. A strong start to the year creates a solid foundation for achieving our growth targets,” says Kari Vyhtinen, CEO of the company.

Further information
Kari Vyhtinen
CEO
Endomines Finland Plc
kari.vyhtinen@endomines.com
+358 40 585 0050

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 – 26/3/2025, at 9:45 EET.

Endomines Finland Plc's Annual Report 2024 has been published

The Annual Report 2024 includes Board of Directors’ Report, Financial Statements and Auditor’s Report. The company has also published a separate Corporate Governance Statement, Remuneration Report and Ore Reserves and Mineral Resources Report for 2024.

The Sustainability Report 2024 will be published in April 2025.

The Financial Statements are published in accordance with the European Single Electronic Format (ESEF) reporting requirements, and the primary statements and the notes to the consolidated financial statements have been labelled with XBRL tags.

The Annual Report, the Corporate Governance Statement, the Remuneration Report and Ore Reserves and Mineral Resources Report are enclosed as PDF files, the Board of Director's Report and the Financial Statements also as XHTML files.

The reports are also available on the company's website at https://endomines.com/en/for-investors/reports-and-presentations/

Contact information

Minni Lempinen
CFO
Endomines Finland Plc
minni.lempinen@endomines.com
+358 40 769 3483

Kari Vyhtinen
CEO
Endomines Finland Plc
kari.vyhtinen@endomines.com
+358 40 585 0050

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 – inside information – 17.3.2025, at 11:00

Inside Information: Endomines reports annual total resource estimate: Nearly half million ounces of gold on the Karelian Gold Line, gold resources increased by 59 %

Endomines announces its 2025 total gold reserve and resource estimate. The annually published total resource estimate includes all deposits owned by Endomines.

As of December 31, 2024, the Pampalo mine and the surrounding Karelian Gold Line are estimated to contain 492,800 ounces of gold, representing an increase of 59 % or 182,500 ounces compared to the 2024 resource estimate. The total resource of the Karelian Gold Line consists of 268,000 ounces of Southern Gold Line, 122,700 from Pampalo, 54,200 from Hosko and 47,100 from other deposits. This year's reported mineral resources also include ore reserves; previously, mineral resources were reported without ore reserves. In the previous update, ore reserves were 32 200 ounces.

Endomines' mineral resources have grown significantly during the year 2024, particularly due to successful drilling campaigns and subsequent resource estimate updates in Pampalo, Hosko, Korvilansuo, and Kuittila. There have been no changes in the reported mineral resources for the deposits in the US.

"Our golden journey is progressing according to plan. The gold resources of the Karelian Gold Line have already grown to nearly half million ounces. The goal of exploration is to enable gold production to increase to 70,000–100,000 ounces approximately in the year 2030. The significant growth in gold resources supports this goal. Through additional research, we also succeeded in converting Pampalo's resources into ore reserves, which increased by 44.7 % in ounces. The gold reserves of Pampalo's production support our gold production growth targets in the coming years. We are in a very interesting phase where the measures of the strategy renewed in 2022 are producing recurring, visible results," commented the company's CEO Kari Vyhtinen.

Total Ore Reserves of the Pampalo Mine

The updated ore reserve estimate for the Pampalo Mine (underground mine and open pit), as of December 31, 2024, includes total ore reserves of 588 000 tonnes with a grade of of 2.46 g/t, containing 46,600 ounces. The ore reserves increased by 68.5 % in tonnes and 44.7 % in ounces compared to the previous year's estimate.

Ore Reserves and Mineral Resources of the Pampalo Underground Mine

The Pampalo Underground Mine has proven ore reserves of 274,000 tonnes with a grade of 2.95 g/t, containing 26,000 ounces of gold, and probable ore reserves of 129,000 tonnes with a grade of 3.56 g/t, containing 14,800 ounces of gold.

The majority of the increase in ore reserves comes from the underground drilling program carried out in 2024, which drilled a total of 47 drill holes with a total length of 4,872 meters in the planned mining area between levels 875 and 955, as well as in the deeper extensions of the deposit. The result was several high-grade intersections (Published 26.2.2025), which have now been included in the updated estimate.

In addition to the ore reserves, the Pampalo deposit has reported inferred mineral resources of 183,000 tonnes with a grade of 5.44 g/t, containing 32,000 ounces of gold. These resources are located below the reported ore reserves. The Pampalo deposit remains open at depth, and we plan to continue underground drilling in the area in 2025.

Ore Reserves and Mineral Resources of the Pampalo Open Pit

The updated ore reserve estimate for the Pampalo Open Pit includes probable ore reserves of 185,000 tonnes with a grade of 0.98 g/t, containing 5,800 ounces of gold. Additionally, the open pit has reported inferred mineral resources of 488,000 tonnes with a grade of 1.52 g/t, containing 23,800 ounces of gold.

The ore lenses mined in the Pampalo Open Pit remain open to the northwest and at depth. We plan to carry out a drilling program in these areas in 2025.

Mineral Resources of the Karelian Gold Line

The Korvilansuo and Kuittila deposits, located on the Southern Gold Line, were the focus of exploration and definition drilling during 2024, and high-grade intersections were reported from both. These intersections are included in the updated mineral resource estimates.

The updated mineral resource estimate for Korvilansuo includes inferred resources of 2,727,000 tonnes with a grade of 1.58 g/t, containing 138,000 ounces of gold. The resources increased by 107 % in ounces compared to the previous estimate (Published 7.3.2025). The updated mineral resource estimate for Kuittila includes inferred resources of 2,211,000 tonnes with a grade of 1,37 g/t, containing 97,490 ounces of gold. The resources increased by 98 % in ounces compared to the previous estimate (Published 17.2.2025).

The Hosko deposit on the Northern Gold Line was the focus of definition drilling during 2024. The updated mineral resource estimate for Hosko includes indicated resources of 98,000 tonnes with a grade of 3.08 g/t, containing 9,700 ounces of gold, and inferred resources of 945,000 tonnes with a grade of 1.46 g/t, containing 44,500 ounces of gold. The total resources in the Hosko area increased by 49 % in ounces compared to the previous estimate.

The mineral resources of the Rämepuro satellite mine were updated in 2023. The mineral resource estimate for Rämepuro includes measured resources of 23,000 tonnes with a grade of 2.66 g/t, containing 1,900 ounces of gold, indicated mineral resources of 412,000 tonnes with a grade of 1.53 g/t, containing 20,200 ounces of gold, and inferred mineral resources of 381,000 tonnes with a grade of 1.35 g/t, containing 16,500 ounces of gold. The Rämepuro satellite mine is currently not in operation.

The ore reserve and mineral resource estimates for the Pampalo Mine and the Karelian Gold Line have been prepared in accordance with the Australian Code for Reporting of Mineral Resources and Ore Reserves, JORC 2012 (Joint Ore Reserve Committee).

Mineral Resources of Gold Deposits in the United States

Endomines owns the rights to seven gold deposits in the United States. Five of the deposits are located in Idaho and two in Montana. In 2024, there were no changes to the reported mineral resources of these deposits.

In Idaho, the mineral resources of the Friday Mine and Buffalo Gulch deposit are classified according to the standards of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM). The mineral resources for the Deadwood, Rescue, and Kimberly exploration projects are classified as historical, as they were determined before the current standards came into effect.

In Montana, the US Grant Mine has defined gold resources of 165,700 ounces and silver resources of 4.47 million ounces in 346,000 tonnes of mineralized rock. The Kearsarge deposit has total resources of 380,700 ounces of gold in 4.1 million tonnes of mineralized rock. The mineral resources for the US Grant and Kearsarge deposits are also classified as historical, as they were determined before the current standards came into effect.

The US Grant and Kearsarge deposits contribute 546,400 ounces of gold and 4.47 million ounces of silver to Endomines' historical resources. Additionally, they offer significant potential for discovering additional resources in the area through exploration.

Table 1. Gold reserves and resources at Pampalo and the Karelian Gold Line, Finland

(1) The underground ore reserve estimate is based on stope and development designs; cut-off grade 1.2 g/t Au; waste rock dilution 10-30 %; ore loss in stoping 5%, drifting not modelled separately

(2) The open pit ore reserve estimate based on pit optimization studies and stope designs; cut-off grade 0.5 g/t; wasterock dilution 15 %

(3) Underground mineral resources; Deep: Cut-off 1.2 g/t; top cut 10-20 g/t gold varying between lodes. D-zone: Cut-off 0.5 g/t; top cut 10 g/t gold

(4) Open pit mineral resources; Cut-off 0.5 g/t; top cut 7 g/t gold. Mineral resources, below open pit: Cut-off 0,8 g/t; top cut 7 g/t gold

(5) Mineral resources; cut-off 0,5 g/t; top cut 10 g/t gold

(6) Mineral resources; cut-off 0,5 g/t, top cut 10 g/t gold

(7) Open pit mineral resources are reported at a cut-off grade of 0.3 g/t Au and constrained by an optimised pit shell. Following economical and operational parameters were used in open-pit optimization and break-even cut-off calculations: Assumed gold price of US$ 2,050/oz, Metallurgical recovery for gold 85%, opex costs were used from Pampalo process plant and from similar sized open pit and underground operations. Exchange rate used: USD/EUR 0.94. High gold assays were capped at 14 g/t Au. The mineral resource estimate has an effective date of March 7th, 2025.

(8) Open pit mineral resources are reported at a cut-off grade of 0.3 g/t Au and constrained by an optimised pit shell. Underground mineral resources are reported at a cut-off grade of 0.8 g/t Au. Following economical and operational parameters were used in open-pit optimization and break-even cut-off calculations: Assumed gold price of US$ 2,050/oz, Metallurgical recovery for gold 85%, opex costs were used from Pampalo process plant and from similar sized open pit and underground operations. Exchange rate used: USD/EUR 0.94. High gold assays were capped at 19 g/t Au. The mineral resource estimate has an effective date of February 17th, 2025.

(9) Mineral resources; cut off 0,5 g/t; top cut 10g/t (low grade domain) or 50 g/t gold (high grade domain)

(10) Mineral resources; cut-off 0,5 g/t, top cut 40 g/t gold. The estimate has an effective date of December 11, 2023. Mineral resource validated by Endomines.

(11) Mineral resources; cut-off 0,5 g/t top cut 20 g/t gold

Troy ounce = 31.1034768 g

Table 2. Gold resources in Idaho and Montana, USA

(1) Measured, Indicated and Inferred mineral classifications are assigned according to CIM Definition Standards. Mineral resources, which are not mineral reserves, do not have demonstrated economic viability and there is no guarantee that mineral resources will be converted to mineral reserves. Mineral resource tonnage and contained metal have been rounded to reflect the accuracy of the estimate, and numbers may not add due to rounding.

(2) The mineral resource estimate was prepared by HRC based on data and information available as of March 1, 2016. The Measured, Indicated and Inferred mineral resources are reported considering a base case estimate that applies a cutoff grade of 3.4 g/t Au based on the estimated operating costs, recoveries, and a $1,300/oz gold price.

(3) The mineral resource estimate was prepared by HRC based on data and information available as of December 10, 2017. The Measured, Indicated and Inferred mineral resources are reported considering a base case estimate that applies a cutoff grade of 0.14 g/t Au based on the estimated operating costs, recoveries, and a $1,300/oz gold price.

Table 3. Silver resources in Montana, USA

(1) Endomines notes that while the historic resources presented appear to be in general accordance with those set out in NI 43-101 Sections 1.2 and 1.3, Endomines is not treating the historical estimate as current.

This ore reserve and mineral resource update has been reviewed and approved 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.

Further information: 

Kari Vyhtinen  
CEO  
kari.vyhtinen@endomines.com  
+358 40 585 0050  

Jani Rautio  
Chief Geologist  
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.  

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. Endomines controls extensively exploration rights across the Karelian Gold Line.

Endomines Finland Plc – inside information – 7.3.2025 at 10:00 EET

Inside Information: Endomines reports updated Mineral Resource estimate for Korvilansuo, Southern Gold Line – Gold resources more than doubled

Endomines reports the results of an updated mineral resource estimate for Korvilansuo deposit, located in the southern part of the Karelian Gold Line. According to the estimate Korvilansuo has inferred total mineral resources of 2,727,000 tonnes with a grade of 1.58 g/t Au, containing a total of 138,800 ounces of gold. The resource estimate indicates that the gold resources at Korvilansuo have increased by 107 % compared to the 2024 estimate. In 2024, the resource estimate for Korvilansuo was 67,200 ounces. The new resource estimate includes the results from the diamond drilling completed in 2024.

According to the resource estimate, the tonnage of gold-bearing material near the surface within the optimized open-pit model increased by 436 %. This supports Endomines's plan to develop low cost open pit mines in the Southern Gold Line. There is no underground resource defined for Korvilansuo, all the material is reported as an open pit resource.

“I am extremely pleased with the results achieved. We have now conducted large-scale exploration for two full years, and during this time the gold resource at Korvilansuo has grown from 16 500 ounces to 138 800 ounces, which is an increase of 740 %. Besides Korvilansuo, the Southern Gold Line includes also Kuittila and Muurinsuo deposits. We have now updated the resources for Kuittila and Korvilansuo and the Southern Gold Line resources have increased to approximately 270,000 ounces in total. In addition to gold, the Southern Gold Line contains tungsten, a critical mineral defined by the EU, as well as molybdenum. Due to recent geopolitical events, the interest in tungsten used in the defense industry has surprised us. Our plan is to bring the Southern Gold Line area into production around the year 2030. Our goal is to increase our gold production to 70,000–100,000 ounces per annum. At the same time, we aim to start the production of tungsten and molybdenum in the gold line area,” commented the company’s CEO Kari Vyhtinen.

The mineral resource estimate was independently prepared by AFRY Finland Oy in accordance with the JORC reporting standard with an effective date of 7 March 2025. The mineral resource Estimate for Korvilansuo is presented in Table 1.

Table 1: JORC Mineral Resource Estimate for Korvilansuo

Mineral Resource Information

(1) The mineral resource estimate has an effective date of March 7^th, 2025.

(2) Mineral resources do not have demonstrated economic viability.

(3) The estimate has been prepared and reported in accordance with the recommendations of the 2012 Australasian Code for Reporting of Mineral Resources and Ore Reserves (JORC 2012). (4) High gold assays were capped at 14 g/t Au.

(5) Exchange rate used: USD/EUR 0.94.

(6) Open pit mineral resources are reported at a cut-off grade of 0.3 g/t Au and constrained by an optimised pit shell

(7) Following economical and operational parameters were used in open-pit optimization and break-even cut-off calculations: Assumed gold price of US$ 2,050/oz, Metallurgical recovery for gold 85%, opex costs were used from Pampalo process plant and from similar sized open pit and underground operations.

(8) A bulk density value of 2.76t/m³ was assigned to all materials (ore and waste).

(9) Endomines is not aware of any legal, political, environmental, or other risks that could materially affect the potential development of the mineral resources.

The Ordinary Kriging method (“OK”) algorithm for grade interpolation was used for the Korvilansuo Mineral Resource using experimental variogram models created for Au. Samples within the wireframes were composited to 2.0 m interval. The estimate is based on a block size of 5 m (X) by 5 m (Y) by 5 m (Z), with minimum sub-block size of 1 m (X) by 1 m (y) 1 m (Z).

The resource estimate has been verified by a Competent Person

The information in this release that relates to Mineral Resources is based on information compiled by Mr. Ville-Matti Seppä, EurGeol, of AFRY Finland Oy and by Mr. Eemeli Rantala, P.Geo, of AFRY Norway As. Mr. Seppä and Mr. Rantala have sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves”. Mr. Seppä and Mr Rantala have reviewed, verified, and approved the contents of this news release as they relate to the mineral resource estimate. Mr. Seppä or Mr Rantala own no shares in Endomines Oy.

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.  

Further information: 

Kari Vyhtinen  
CEO  
kari.vyhtinen@endomines.com  
+358 40 585 0050  

Jani Rautio  
Chief Geologist  
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.  

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. Endomines controls extensively exploration rights across the Karelian Gold Line.