Endomines announces winners of the Karelian Gold Rush 2015, a Global Exploration Challenge

Endomines is pleased to announce the winners of the “Karelian Gold Rush 2015”, a
Global Exploration Challenge organised by the Company. With the competition
Endomines did challenge the worldwide mining and exploration community to
innovative and out-of-box thinking and to come up with new ideas for exploration
targets and models.

Endomines made available all relevant geological data from its fully controlled
“Karelian Gold Line” – a 40 km-long gold prospective Archaean greenstone belt
located in Eastern Finland in November 2015. The released data was available for
geoscientists and others from all over the world. More than 30 years of
exploration activity has resulted in gold deposits currently in production as
well as numerous mineralizations along the “Karelian Gold Line”, but the area is
still deemed under explored.

Totally some 150 participants downloaded the data package from the Endomines web
-site. After two months competition period, the Company received 15 regional
exploration proposals from individuals and project groups.

A huge majority of the proposals were of high quality and all participants had
put a lot of work for the proposals. Some of the proposals included totally new
technology and approach to processing the Karelian Gold Line exploration data.

An international jury of independent and experienced geoprofessionals has judged
all the entries. The jury members have been Ph.D. Paul Evins (structural
geology), WSP Sweden; Ph.D. Denis Schlatter (geochemistry) Helvetica Exploration
Services, Switzerland and M.Sc. Turo Ahokas Independent Senior Geophysicist,
Finland. Markus Ekberg, M.Sc., QP (geology), CEO of Endomines Ab did coordinate
jury activities.

Winner of the first prize is a group of geoscientists from the Ecole Nationale
Supérieure de Géologie, (Université de Lorraine), Nancy, France. The team
comprised of graduating students Caroline Izart and Loïc Salesses and their
winning proposal has a title “Multi criterion analysis for orogenic gold
deposits, Karelian Gold Line”. The winning team will receive a prize of 40 000
€.

The second prize 20 000€ goes to Dr Grigorios Sakellaris, Malmi Geoconsulting,
Finland (title of the proposal “Target modelling and interpretation of
aeromagnetic data for gold exploration at the Hattu schist belt”).

Tied third prizes (equal points) each 6 000€ goes to Evgeny Plyushchev, GECON
Ltd, Bulgaria (“Potential for gold mineralization and exploration targets in the
Karelian Gold Line “) and for the team Dr Oliver Kreuzer (Corporate Geoscience
Group, Australia), Dr Alok Porwal (Indian Institute of Technology Bombay,
India), Dr Amanda Buckingham (Fathom Geophysics Pty Ltd, Australia) and Dr Dan
Core (Fathom Geophysics LLC, United States), (“Targeting the next big gold
discovery in the Ilomantsi greenstone belt, Finland”).

Honorary prize of 2 000€ each goes to (without specific order):

  · Johan Vandaele, Project Geologist at Skapto Consulting, Belgium
  · Dr. Elisabeth Ronacher and Ms Jenna McKenzie (Ronacher McKenzie Geoscience,
Toronto-Sudbury, Canada)
  · Exploration geology MSc team from the Geosciences department (Université de
Lorraine), including students (Anastasia Bethon, Julien Boulliung, Rémi Coltat,
Hilaire Somtebda Dakouré, Mickaël Demacon, Violaine Galzin, Fanny Gouazou,
Marion Grosjean, Thibault Josselin, Valentin Kremer, Aboubacar Lawal Moussa,
Solène Mieral, Renaud Mulot, Sonya Nirina Rakotomanga, Jean‐Marc Rolland,
Jonathan Royer, Elizabeth Viry, Pierre Wadier) and teachers (Antonin Richard,
Irvine Annesley, Anne-Sylvie André-Mayer) with the technical comments of Jean
-Marc Montel and Alain Cheilletz (ENSG, Université de Lorraine).
  · Mark Howson (independent consultant, Mineral Resources Professional Limited,
Bristol, UK)
  · Urpo Kuronen (Geologist from Finland)

The award ceremony will be held at the Nordic Mining Day 8thMarch at the
Prospectors and Developers Conference 2016 (PDAC 2016) in Toronto, Canada.

Endomines CEO Markus Ekberg comments the outcome of the competition: “These high
quality exploration proposals were really what we did expect when we decided to
organize the competition. All new ideas and new targets but also high quality
analysis and reworking of the existing data will be a good help when we in the
future continue our exploration efforts along the Karelian Gold Line. The next
step for Endomines will be a careful analysis and synthesis of all proposals”.

For further information, please contact:
Markus Ekberg
CEO of Endomines AB tel. +358 40 706 48 50 or visit the Company´s home page:
www.endomines.com


Endomines AB discloses the information provided herein pursuant to the Swedish
Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The
information was submitted for publication at 12:00 CET on February 16th, 2016.


About Endomines:
Endomines conducts exploration and mining business along the 40 kilometer long
Karelian Gold Line. Through various regulatory approvals, Endomines controls the
exploration rights to this entire area.

The Company’s first mine, Pampalo, started in February 2011. During 2014,
Endomines initiated the production of ore from the mine in Rämepuro. The ore
from satellite mines will be processed in the centrally located mill at Pampalo.

The Company’s business practices and mining operations are based on sustainable
principles and on minimizing the impact on the environment.

Endomines applies SveMin's & FinnMin's respective rules for reporting for public
mining & exploration companies. The Company has chosen to report mineral
resources and ore reserves according to the JORC-code, which is the
internationally accepted Australasian code for reporting ore reserves and
mineral resources.

Endomines vision is to participate in the future structural transformation and
consolidation of the Nordic mining industry. The Company may therefore be
involved in acquisitions of interesting deposits or companies, should such
opportunities arise.

The shares of Endomines AB are quoted on NASDAQ Stockholm under ticker ENDO and
on NASDAQ Helsinki under ticker ENDOM.