Lappland Goldminers announces final results of the issue of convertible bonds

Lappland Goldminers AB has now completed the results of the subscriptions for
the issue of convertible bonds with preferential rights for the company's
shareholders.

The issue of convertible bonds has now been completed and fully subscribed. Of
the total issue 5,390,516 convertibles corresponding to SEK 59,295,676
(approximately 48.5 per cent) was subscribed for with subscription rights and
142,593 convertibles corresponding to SEK 1.568,523 (approximately 1.3 per cent)
without preferential rights. The guarantee consortium of investors committed to
guarantee the whole issue was allocated 5,577,255 convertibles corresponding to
SEK 61,349,475 (approximately 50.2 per cent.

A total of 11,110,334 convertible bonds, corresponding to a nominal amount of
SEK 122,213,674, were subscribed for in the issue. The issue will generate
approximately SEK 122.2 million before deduction of issue costs.

In the event all convertible bonds are converted to shares, the number of shares
in Lappland Goldminers will amount to 94,437,843 based on the number of shares
 today.
The convertible bonds are expected to be traded on First North when the issue
has been registered by the Swedish Companies Registration Office. Trading is
expected to commence during the second half of May 2010.
- I am pleased to announce that the issue of convertible bonds has been
successfully completed and the proceeds from the issue will take us one step
further towards our goal to complete a production plant in Fäboliden and to
implement the drilling programs in our two existing mines, says Kjell Larsson,
managing director of Lappland Goldminers.

Terms and conditions for the convertible bonds in brief
Conversion of the convertible bonds to new shares in the company may be carried
out during the periods January 1-15, May 1-15 and September 1-15 each year,
beginning January 1, 2011, and ending September 15, 2013. The convertibles run
from May 3, 2010, with an annual interest based on STIBOR 90 days plus six (6)
percentage points with a maximum interest of ten (10) percent during each
interest period. Interest will be due for payment every quarter in arrears with
the first payment June 30, 2010. No organised trade with BTUs (paid allocated
convertibles) will take place.



For additional information:

Ulf Ericsson, chairman of the board      Kjell Larsson, managing director

Tel. +46 70-529 09 59                    Tel. +46 70-385 03 57

ulf.ericsson@lgold.se                    kjell.larsson@lgold.se
<mailto:ulf.ericsson@lgold.se>           <mailto:kjell.larsson@lgold.se>





Also visit: www.lapplandgoldminers.com <http://www.lapplandgoldminers.com/>
About Mangold Fondkommission:www.mangold.se <http://www.mangold.se/>


Lappland Goldminers AB is a producing mining company with significant
exploration activities. The Company is listed on the market place First North
Premier under the name GOLD, with Mangold Fondkommission AB as Certified
Adviser, as well as on the Norwegian OTC list. Lappland Goldminers' strategy is
to develop mineral deposits into profitable producing mines. The Company is
strategically positioned with the the fully permitted Fäboliden gold project and
the Ersmarksberget deposit and processing plant in northern Sweden. The
Pahtavaara gold operation is located in the north of Finland and the Haveri gold
deposit in the south of Finland. Lappland Goldminers is a member of SveMin, the
Swedish association for mines, minerals and metal producers, and follows
SveMin's reporting rules for public mining and exploration companies.



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