Endomines Finland Plc – inside information – 26.2.2025, at 13:00 EET

Inside Information: Endomines reports high-grade drilling results from the Pampalo gold mine: Results confirm the continuation of the gold mineralization to deeper levels

Endomines reports results from the drilling program conducted in 2024 at the Pampalo gold mine. The results indicate that the gold mineralization continues into the deeper levels of the Pampalo mine. This supports the company’s target of increasing gold production volumes annually.

The 2024 drilling program at the Pampalo mine included 47 diamond drill holes for a total of 4 872 m. Majority of the drill holes were targeted at the planned production area between the 915 and 975 mine levels, representing the next 60 vertical meters below the current production area. In addition, a total of 3 drill holes (drill holes 2031–2033) were targeted below the 1055-mine level to verify the continuation of the mineralized lodes to deeper levels. This area could be mined approximately in the years 2027–2029. All the drill holes in the drilling program intersected gold mineralization and confirmed the continuation of the ore lenses into the deeper parts of the mine.

Highlights from the Pampalo drill results:

• Drill hole T-2011 intersected 5.2 m with a grade of 38.6 g/t gold (13.3 g/t when capped at 20 g/t) from 70.9 m
  • Including 0.7 m with a grade of 127.0 g/t gold from 74.6 m
• Drill hole T-2009 intersected 6.6 m with a grade of 13.5 g/t gold (12.6 g/t when capped at 20 g/t) from 87.2 m
• Drill hole T-1990 intersected 4.7 m with a grade of 18.1 g/t gold (13.0 g/t when capped at 20 g/t) from 94.3 m
• Drill hole T-1983 intersected 7.5 m with a grade of 10.3 g/t gold (7.8 g/t when capped at 20 g/t) from 86.3 m
  • Including 2.2 m with a grade of 28.5 g/t gold (20.0 g/t when capped at 20 g/t) from 87.1 m
• Drill hole T-1986 intersected 5.4 m with a grade of 14.5 g/t gold (10.5 g/t when capped at 20 g/t) from 65.3 m
  • Including 0.8 m with a grade of 35.5 g/t gold (20.0 g/t when capped at 20 g/t) from 68.0 m

Highlights from the Pampalo drill results below 1055-level (area that is estimated to be in production in 2027–2029):

• Drill hole T-2031 intersected 5.7 m with a grade of 15.4 g/t gold (14.8 g/t when capped at 20 g/t) from 199.3 m
• Drill hole T-2032 intersected 19.0 m with a grade of 7.4 g/t gold (6.1 g/t when capped at 20 g/t) from 178.8 m
  • Including 0.9 m with a grade of 15.4 g/t gold from 188.0 m
  • Including 2.3 m with a grade of 28.3 g/t gold (18.0 g/t when capped at 20 g/t) from 191.70 m

“The high-grade results obtained confirm that the gold mineralization continues into the deeper levels of the Pampalo underground mine. I am especially pleased with the drilling results obtained below mine level 1055, as they show that the gold mineralization extends far below our current operational area. We estimate that production is active at this level around the years 2027–2029. Our target is to increase our production volumes annually, and the results obtained form the foundation for our future production planning,” commented the company’s CEO Kari Vyhtinen.

The intersections from the Pampalo drilling program are presented in Appendix 1, and the locations of the new drill holes are shown on the longitudinal section in Appendix 2.

Drilling results also from Hosko gold mine

Endomines reports also drilling results from the surface core drilling program conducted at the Hosko gold mine in autumn 2024. The drilling program consisted of 4 diamond drill holes for a total of 511 m. The drilling explored the northern end of the Hosko deposit. All the drill holes intersected gold mineralization and the deposit remains open to the north.

The intersections from the Hosko drilling program are presented in Appendix 3, and the locations of the new drill holes are shown on the map in Appendix 4.

Resource estimate update under preparation

Resource estimate updates are being prepared for Pampalo and Hosko. The updates will include all the new drilling results reported here. Also, the mine plans will be updated accordingly.

An underground drilling program is on-going at the Pampalo mine, targeting the planned production area between the 915 and 975 mine levels.

Drilling technology and quality assurance  

All underground drilling has been carried out by KDC Oy, using BQTK tubes, resulting in core of 40.7 mm in diameter. Drill hole locations, start azimuths and dips have been surveyed by using mine survey equipment. A downhole survey of bearing and dip deviations has been completed with the SPT GyroMaster survey tool. Selected core has been oriented with SPT CoreMaster equipment.

All surface drilling has been carried out by Northdrill Oy, using WL-76 tubes, resulting in core of 57.5 mm in diameter. Drill hole locations have been surveyed by using mine survey equipment. Downhole survey of bearing and dip deviations have been completed with DeviGyro survey tool. All core has been oriented with DeviCore equipment.

The drill cores have been logged by Endomines own personnel. The preparation and assaying of the underground drillings core samples have been carried out at Endomines laboratory in Pampalo, Finland or at the CRS Minlab Oy in Kempele, Finland. The sample procedure used at the laboratory was MPC’s PAL1000 PULVERISE AND LEACH machine with AAS finishing. The used sample size was 500 g of crushed core for the underground holes and 1000 g of crushed core for the Hosko surface holes.

Normal QA/QC (Quality Assurance/Quality Control) procedures have been adhered to on all the samples, with standards, blanks and duplicates routinely submitted as part of the sampling program. The quality of sample preparation, security integrity and chemical assays was equal to, or exceeded, current industrial standards and the requirements of the JORC-code.  

This statement 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 and owns 2,000 shares in Endomines.  

Further information: 

Kari Vyhtinen  
CEO  
kari.vyhtinen@endomines.com  
+358 40 585 0050  

Jani Rautio  
Chief Geologist  
jani.rautio@endomines.com  
+358 50 593 0812  

Endomines Finland Plc is a Finnish forerunner in sustainable mining. Our mining operations in Pampalo, Ilomantsi region, focus on gold mining and processing, as well as exploration in the Karelian gold line, in Eastern Finland. We also own the rights to seven gold deposits in the US. We produce gold for the jewellery and electronics industries and create value by transforming natural resources into wealth, an investment that withstands the volatility of global politics. We are a growing mining company that embraces new ways of thinking; we want to leave a positive footprint where we operate, which is why our goal is to grow the Karelian gold line into a significant, sustainable gold-producing region. Endomines is listed on the main list of OMX Helsinki (PAMPALO). www.endomines.com.  

The Karelian Gold Line is 40 kilometers long, a gold prospective portion of the Ilomantsi greenstone belt located in Eastern Finland approximately 500 kilometers northeast of Helsinki. The area hosts several gold deposits, the largest known being Pampalo. Endomines controls extensively exploration rights across the Karelian Gold Line.