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Ms. Saila Miettinen-Lähde appointed as CEO of Endomines AB

Endomines announces the appointment of Ms. Saila Miettinen-Lähde, born 1962, as the new Chief Executive Officer of Endomines AB. Saila is an experienced leader with extensive experience including posts as Deputy CEO and CFO of Talvivaara Mining Company Plc during the period 2005 - 2015 and Board Membership in Outokumpu Oyj since 2015.

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Endomines Ore Reserve and Resource Estimate Update

Endomines is making a public announcement of its updated ore reserves and mineral resources estimates. The estimates have been prepared according to the 2012 Australasian Code for Reporting of Mineral Resources and Ore Reserves (Joint Ore Reserve Committee - JORC-code). The updates have been prepared by various authors (Endomines - in house and others). The update represents the production situation as of December 31st 2016.

The results are as follows:

 

Endomines Ore Reserve and Resource Estimate

In the Pampalo underground mine almost all the ore reserve and resource mined in 2016 has been replaced by new ore reserves and resources. The data included results from the underground drilling campaign completed in 2016. Totally some 21 000 meters were drilled during 2016.

A new resource estimate has been prepared for Pampalo NW and Pampalonlammit. Although the resource estimates are relatively modest, it proves that it is still possible to find new resources near Pampalo.

Hosko and Muurinsuo were removed from ore reserves because the deposits are likely uneconomic with the current gold price. Hosko and Muurinsuo remain as mineral resources.

”Pampalo total reserves and additional resources have remained almost on the same level as a year before as new resources have been discovered and resources have been converted to reserves from the Pampalo deep extension area. During the past years we have all the time been able to convert Pampalo deep resources to reserves and discover also new resources from Pampalo Deeps. This exploration history supports our view that the exploration potential of Pampalo deep extension is high and continues”, comments Markus Ekberg, CEO of Endomines AB.

“We can certainly be satisfied that new resources Pampalo NW and Pampalonlammit – although modest at this stage - have been discovered and developed during the year 2016. This certainly confirms possibilities for new discoveries on the mining lease area”, continues Markus Ekberg.

This statement has been controlled by Eurogeologist Jani Rautio MSc (Geol) acting as a Qualified Person. Endomines applies Fennoscandian Review Board –standards for public disclosure of mineral resource and reserves. Jani Rautio is a full time employee of Endomines.

Source: Endomines AB

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Endomines: Management Changes

Endomines has recruited a General Manager (“GM”) for its Pampalo Gold Mine and other operations at Karelian Gold Line, Finland. MSc (mining engineering) Seppo Tuovinen will take the post from the 1st of January 2017. Seppo Tuovinen will also act as the Managing Director for Endomines AB’s Finnish subsidiaries Endomines Oy and Kalvinit Oy.

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Endomines Pampalo Mine: Management Changes

 

Endomines announced today that Pampalo Gold Mine Resident Manager Janne Muttonen has tendered his resignation from his position effective 26th January 2017. Janne Muttonen has been working as the resident manager for the Pampalo operations since November 2010.

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Dragon Mining terminates the Agreement with Endomines

Endomines has been informed that Dragon terminates the existing agreement on processing flotation concentrate from Pampalo at the Dragon Mining Svartliden leaching plant. According to Dragon Mining the Svartliden Operations has experienced elevated levels of copper in the discharge water. The copper levels are low but still at a level that the water must be cleaned in order to apply with the Svartliden Environmental Permit. The cost of cleaning the water is deemed to be significant by Dragon Mining management.

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Endomines announces Winners of the Karelian Gold Rush 2015

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.

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Endomines brings forward Start of Selective Mining

Production guidance and Selective Mining

The previously announced start of Selective Mining in early 2016 has, for practical reasons, been brought forward. This will slightly decrease the 2015 annual production from the previously announced production guidance of 550-600 kg of gold. The co-operation negotiations have been concluded and about 50 % of the Pampalo mine operational personnel have been temporarily laid off from latest today’s date. Endomines will, as normal, release its quarterly production update early January 2016.

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Karelian Gold Rush 2015 - Endomines Exploration Challenge

  • All relevant geological data from its fully controlled “Karelian Gold Line” made available
  • Best exploration proposals will be rewarded with Cash Prizes: First Prize 40 000€

Endomines announce that it has today officially 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. 

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Endomines’ Rights Issue oversubscribed

Endomines AB (publ) has successfully completed a rights issue of units consisting of shares and warrants, with preferential right for existing shareholders. The issue was oversubscribed and approximately 96.1 MSEK was raised before issue costs.

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