Endomines Finland Plc – Inside Information – 11.2.2025, at 9:30 EET

Inside Information: New gold potential zone discovered on the Karelian Gold Line – Outcrop samples in Ukkolanvaara contained significant amounts of gold

Endomines releases results from a geological mapping campaign in Ukkolanvaara, the central part of the Karelian Gold Line. The results indicate a new, previously undiscovered gold mineralization in the area.

Endomines collected a total of 73 bedrock samples from Ukkolanvaara in 2024. The results show that 30 percent of the samples contained more than 0.1 g/t gold. The highest gold grade, 1.75 g/t gold, was measured from an outcrop located in the northern end of the large 25 km² area. The measured grade is high for a bedrock sample taken from an outcrop. The mapping campaign results suggest that the iron formation in Ukkolanvaara is associated with a gold-potential zone. The area will be studied further in 2025.

“In Ukkolanvaara area, the conditions for gold mineralization are textbook-like. Globally, gold deposits often occur in association with shear zones in iron formations, as in Ukkolanvaara. The iron deposit in Ukkolanvaara is very large in scale. If gold is indeed more widely present in the deposit, we may be on the verge of discovering something significant. The potential is so promising that we will drill the first exploration holes in the Ukkolanvaara area in spring 2025,” commented the company’s CEO, Kari Vyhtinen.

The significant assay results (≥ 0.10 g/t gold) from the samples collected at the Ukkolanvaara prospect during the 2024 mapping campaign are reported in Attachment 1. The locations of all the samples are shown on the map in Attachment 2.

Geology of Ukkolanvaara

The most promising results were found from where the Ukkolanvaara iron formation is truncated by the prominent shear system controlling the distribution of the gold deposits along the Karelian Gold Line. The gold mineralization is currently interpreted to be related to the sulphidation of the iron formation with gold precipitated in the most competent bands of the iron stone within or close to the high strain zones. The prospective Ukkolanvaara iron formation is tightly folded with an apparent thickness varying from 100 m to 500 m. The footprint of the area is approx. 25 km². To date, there is no detailed base of till sampling done over the area.

BIF (banded iron formation) -hosted gold mineralization style is a typical feature of other Archean Greenstone Belts found in addition to Finland for example in Australia and Canada.

Due to its significant scale potential the Ukkolanvaara prospect is a high priority drilling target for the 2025 exploration drilling and base of till Sampling campaigns.

Sampling, assay method and quality assurance  

All rock samples have been collected from the bedrock outcrops. Rock pieces have been isolated by rock hammer and secured in plastic bag labelled with the sample ID. Accurate coordinates have been obtained for each sampling location using Endomines handheld GPS. The rock samples have been logged and submitted to Endomines laboratory in Pampalo by Endomines geologists.

The preparation and assaying of the rock samples have been carried out at Endomines laboratory in Pampalo, Finland. The sample procedure used at the laboratory was MPC’s PAL1000 PULVERISE AND LEACH machine with AAS finish. The used sample size was 500 g of crushed rock.

Normal QA/QC (Quality Assurance/Quality Control) procedures have been adhered to on all the samples, with standards 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.