Endomines AB (publ): Press Release


The press release can be downloaded from the following link:
Press release (PDF)

During 2009, Endomines has completed several important steps to
develop the business from exploration to full-scale gold production.
By the end if 2010, the company will commence production at the
Pampalo Mine, with a projected output of 900-1 000 kg of gold per
annum.

Further deposits along the Karelian Gold Line will be exploited
subsequently. Endomines has additional claims and mining concessions
in Finnish Lappland (gold), Ostrobothnia (ilmenite) and Southern
Finland (limestone/wollastonite).

Summary of events since last Interim Report

  * Markus Ekberg appointed new CEO (Aug. 2009)
  * Endomines Oy received a loan guarantee of 6 MEUR from Finnvera
  * In order to finance the gold production, the Board of Directors
    have decided to launch a rights issue of 179 MSEK, subject to
    approval by the shareholders' meeting, and have signed a project
    financing facility with Nordea Bank Finland.  The rights issue is
    fully underwritten
  * Endomines has called an extraordinary shareholders' meeting for
    Nov. 12, 2009, with a view to seeking approval for the proposed
    rights issue and setting up a employee share options program
  * Endomines Oy acquired 292 ha of land a the Pampalo Mine
  * Gold processing and production equipment investments were
    concluded in October, in line with the construction schedule.


"As a result of carefully planned work over several years, Endomines
is now ready to commence the extraction and production of gold at
Pampalo, along the Karelian Gold Line. The commencement of production
at Pampalo is an important milestone in Endomines' as well as
Finland's mining history of mining. Although we are a relatively
small company, we have raised project financing from Nordea, together
with credit guarantees from Finnvera, as well as investment subsidies
from the Finnish State. Together with the support of our shareholders
this will enable the commencement of gold production along the
Karelian Gold Line."  -   Karl-Axel Waplan, Chairman of the Board

"All the employees of Endomines now have the exciting task of
building the necessary infrastructure, to start and maintain gold
mining operations, and to produce gold concentrate as well as
developing Endomines other concessions along the Karelian Gold
Line."    -    Markus Ekberg, CEO

Summary of key financial figures:

  * Earnings per share amounted to -0,67 SEK (-0,44), of which 3rd
    quarter -0,31 SEK (-0,15)
  * Earnings after tax amounted to -12 321 KSEK (-8 000), of which
    3rd quarter - 5 768 KSEK (-2 832)
  * Cash Flow -20 965 KSEK (-29 748) of which 3rd quarter -6 298 KSEK
    (-7 539)


Full interim report (in Swedish) is available at Endomines.com

Endomines applies SveMin's & FinnMin's mutual rules for reporting
(public mining & exploration companies). Endomines has chosen to
report resources and reserves according to JORC-code or to NI 43-101
which are internationally accepted.

Endomines applies the International Financial Reporting Standards
(IFRS), as approved by the European Union.This increases the
possibilities to compare the Company with other international
exploration- & mining companies. The Endomines share is quoted on the
OMX First North Premier list in Stockholm: [ENDO.ST].

Home page: www.endomines.com


For further information:
Please contact: CEO Markus Ekberg, cell phone: +358-40-706 48 50.
Endomines AB (publ): Press Release - Summary of Interim Report for the 3rd quarter ending September 30, 2009

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