This is a correction to Endomines stock exchange release issued on April 9, 2019 at 13:00 CEST regarding Endomines ore reserve and mineral resource update. In the table presenting Mineral Resources - Karelian Gold Line, figures for the Pampalo Inferred Total and Karelian Measured + Indicated Total for kg and grade (Au g/t) were not correct. Please find below the original stock exchange release with the correct tables.

Endomines is pleased to announce its 2019 gold reserve and resource estimates for its Pampalo mine and the resources along the Karelian Gold Line in Finland, as of 31 December 2018, and the gold resource estimates for its gold projects in Idaho, USA.

Gold resources at the Pampalo mine and resources along the Karelian Gold Line in Finland

The Pampalo mine depleted the remaining reserves during 2018. The 2017 mineral resources at Pampalo, restated herein, have been defined by a 5,040-meter drill program targeting the deep extension area and are estimated to contain 16, 611 ounces gold in indicated and 20 341 ounces gold in inferred resources. As the current gold prices do not support the capital investment required to advance the decline for access to the resource, the Pampalo mine was placed on care and maintenance in October 2018.

There have been no changes in the reported mineral resources for other deposits along the Karelian Gold Line except for the Pampalo East project where the remaining ore reserves (32,000 tonnes) have been converted back to mineral resources. The measured and indicated resources along the Karelian Gold Line total an estimated 56,204 ounces and the inferred resources 70,453 ounces gold.

For the Pampalo mine and the resources along the Karelian Gold Line in Finland, 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).

Gold resources in Idaho, USA

During the past year, Endomines continued to improve its understanding of the Idaho gold projects that in acquired in February 2018. Endomines is working to develop its Friday Underground mine and to convert a portion of the estimated 97,200 measured and indicated resource ounces into mineral reserves. Inferred resources at Friday amount to 46,700 ounces of gold.

In 2018, the historic data and information for the Buffalo Gulch project was validated and converted to a measured and indicated mineral resource of 114,700 ounces gold. Similar conversion of the historic resources at Deadwood are also targeted. Additionally, the Company is working toward developing mineral resource estimates for its Kimberly and Rescue projects through exploration programs targeting known high-grade gold and silver vein systems.

The mineral resources currently quoted regarding the Deadwood, Rescue, and Kimberly exploration projects, are per definition historical, made before the introduction of today's disclosure standards. Endomines cautions that while the presented historic resources for Kimberly, Rescue, and Deadwood appear to be in general accordance with those set out in NI 43-101 Sections 1.2 and 1.3, a qualified person has not done sufficient work to classify the historical estimates as current mineral resources, and Endomines is not treating the historical estimates as current or reliable.

The mineral resources reported for the Friday Underground and Buffalo Gulch projects in Idaho, USA, are classified in accordance with standards defined by Canadian Institute of Mining, Metallurgy and Petroleum ("CIM"), "CIM Definition Standards - For Mineral Resources and Mineral Reserves", prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council on May 10, 2014.

Table 1. Mineral resources at Pampalo and the Karelian Gold Line in Finland:

Mineral Resources
- Karelian Gold
Line, Finland
(status Dec 31,
2018)
Deposit Tonnes Grade Oz kg Classification Prepared by
Au
g/t
Pampalo Resources
Pampalo Deep 101 5,1 16 517 Indicated Endomines (1)
503 611
Pampalo East 229 1,8 12 401 Indicated Endomines (2)
000 897
Pampalo NW 29 000 2,5 2 28 71 Indicated Endomines (3)
4
Pampalo Indicated 359 2,8 31 989 Indicated Endomines
Total 503 792
Pampalo Deep 118 5,36 20 633 Inferred Endomines (1)
125 341
Pampalo D-zone 164 1,9 9 91 308 Inferred Endomines (1)
110 2
Pampalo East 62 000 1,4 2 79 87 Inferred Endomines (2)
1
Pampalonlammit 103 1,8 5 96 185 Inferred Endomines (3)
000 1
Pampalo Inferred 447 2,7 39 1 21 Inferred Endomines
Total 235 005 3
Karelian Gold
Line Resources
Hosko 35 000 4,1 4 55 142 Measured Geoconsulting (4)
7 Parkkinen
Hosko 675 1,2 25 801 Indicated Geoconsulting (4)
000 761 Parkkinen
Muurinsuo 354 1,9 22 687 Indicated Endomines (6)
000 080
Kuivisto East 37 000 3,2 3 80 118 Indicated MAPTEK
7
Karelian Measured 1 101 1,6 56 1 74 Measured +
+ Indicated Total 000 204 8 Indicated
Hosko 240 0,8 6 01 187 Inferred Geoconsulting (4)
000 9 Parkkinen
Rämepuro 136 2,3 9 92 309 Inferred Geoconsulting (5)
000 6 Parkkinen
Muurinsuo 231 1,4 10 323 Inferred Endomines (6)
000 398
Kuivisto East 145 1,0 4 66 145 Inferred MAPTEK
000 2
Kuittila 275 2,6 22 715 Inferred GSF,
000 988 historical
Korvilansuo 256 2,0 16 512 Inferred Outotec (7)
000 461 (Finland) Oy
Karelian Inferred 1 283 1,7 70 2 19 Inferred
Total 000 453 1

Mineral resources
estimated
according the
JORC-code (except
Kuittila), all
figures
independently
rounded.
Mineral Resources
are reported
inclusive of Ore
Reserves.
(1) Cut-off 1,5
g/t; top cut 10
-20 g/t guld
(2) Cut-off 0,5
g/t; top cut 7
g/t guld
(3) Cut-off 0,5
g/t; top cut 10
g/t guld
(4) Cut off 0,5
g/t; top cut
11g/t (low grade
domain) or 50 g/t
gold (high grade
domain)
(5) Cut-off 0,5
g/t, top cut 40
g/t gold
(6) Cut-off 0,5
g/t, top cut 10
g/t gold
(7) Cut-off 0,5
g/t gold; no top
cut
Troy ounce =
31,1035 g

   
Table 2. Mineral resources in Idaho, USA 

Mineral
Resources -
Idaho, USA
(status Dec
31, 2018)
Deposit Tonnes Grade Oz Kg Classification Prepared by
Au
g/t
Friday
Resources
Measured 245 6,88 54 1 68 Measured Hard Rock (1,2)
000 200 6 Consulting
Indicated 217 6,16 43 1 33 Indicated Hard Rock (1,2)
000 000 7 Consulting
Measured + 462 6,54 97 3 02 M+I Hard Rock (1,2)
Indicated 000 200 3 Consulting
Inferred 296 4,91 46 1 45 Inferred Hard Rock (1,2)
000 700 3 Consulting
Buffalo
Gulch
Resources
Measured 3 515 0,57 64 2 01 Measured Hard Rock (1,3,4)
000 800 6 Consulting
Indicated 3 230 0,48 49 1 55 Indicated Hard Rock (1,3,4)
000 900 2 Consulting
Measured + 6 745 0,53 114 3 56 M+I Hard Rock (1,3,4)
Indicated 000 700 8 Consulting
Inferred 2 128 0,38 25 799 Inferred Hard Rock (1,3,4)
000 700 Consulting
Historic
Resources
Rescue 67 000 21,35 45 1 43 Historic Kimberly (5)
980 0 Mines, (2004)
Kimberly 261 19,18 160 5 00 Historic Laczay, (2010) (5)
000 930 5
Deadwood 2 375 0,77 58 1 82 Historic BEMA Gold (5)
000 601 3 Corporation
(1989)
Historic 2 703 3,06 265 8 25 (5)
Total 000 511 8

*Notes:
(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.
(4) Mineral Resources captured within the pit shell meet the test of
reasonable prospect for economic extraction and can be declared a Mineral
Resource. Pit optimization is based on assumed gold price of US$1,300/oz. and
mining, processing and G&A costs of US$15.20 per ton processed Metallurgical
recoveries for gold are 90%.
(5) Endomines caution 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, a
qualified person has not done sufficient work to classify the historical
estimate as current mineral resources, and Endomines is not treating the
historical estimate as current nor reliable.
Troy ounce = 31.103

The announced mineral resource update for the Finnish projects 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.

The Independent Qualified Person for the mineral resource estimates for the Friday Underground and Buffalo Gulch projects is Zachary Black, SME-RM of Hard Rock Consulting. Technical reports for the Friday Underground Project and the Orogrande Open Pit Project were completed December 12, 2017.
  

Contact person
Saila Miettinen-Lähde, CEO, +358 40 548 36 95, saila.miettinen-lahde@endomines.com

This information is information that Endomines AB is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication through the contact person set out above at 07:30 CEST on 23 April 2019.
  

About Endomines
Endomines is a mining and exploration company with its primary focus on gold. The Company explores for gold along the Karelian Gold Line in Eastern Finland and develops mining operations in Idaho, USA. Endomines aims to improve its long-term growth prospects by increasing its exploration activities and through acquisitions. Endomines aims to acquire deposits that are situated in stable jurisdictions and can be brought to production rapidly with limited investments.

The shares tde on Nasdaq Stockholm (ENDO) and Nasdaq Helsinki (ENDOM).