Endomines Finland Plc – Inside Information – 29/8/2025, at 15:45 EEST 

Inside Information: Promising results from drilling campaign, outcrop samples from the bedrock, and electromagnetic surveys at Ukkolanvaara

Earlier this year, Endomines published promising drilling and outcrop sample results from Ukkolanvaara. The company now reports the drilling results of drilling conducted in June, along with results from new outcrop samples and electromagnetic surveys.

The results show that bedrock outcrop samples and electromagnetic measurements can be used to effectively target exploration activities. Furthermore, the findings highlight Ukkolanvaara’s exceptionally high gold potential.

“The exploration results show that gold occurs in association with the iron formation in the Ukkolanvaara area. We have also confirmed that the iron formation in the area is massive in size. Additionally, the results demonstrate a clear correlation between electrical conductivity and high gold concentrations in outcrop samples and drilling results. We see the gold potential of the Ukko deposit as exceptionally high and now have a much better understanding of the structure of the deposit,” commented Kari Vyhtinen, CEO of the company.

New outcrop samples support interpretation of significant gold mineralization

During the summer of 2025, a total of 143 outcrop samples were collected from the bedrock at Ukkolanvaara, of which 95 have now been analyzed. The results support the interpretation that Ukkolanvaara hosts extensive gold mineralization associated with a banded iron formation (BIF).

In the new outcrop samples, the highest gold concentration was 2.16 g/t, and 13 samples contained a significant amount of gold (over 0.1 g/t). In the company’s stock exchange release on February 11, 2025, the highest concentration in outcrop samples was reported as 1.75 g/t, and the first drill hole in the area, UKKO-001, showed exceptionally high gold content.

Electromagnetic surveys refine the location and extent of mineralization

Endomines has conducted downhole electromagnetic (EM) surveys in drill holes within the current research area. The measurements revealed two clearly distinguishable banded iron formations (BIFs) containing gold over at least 400 meters. It was also observed that high-grade gold drill results are primarily located in areas of electromagnetic anomalies.

The high-grade gold zone identified in the UKKO-001 drilling (30.95 m with a concentration of 3.28 g/t gold starting at a depth of 45.55 m) is associated with an anticlinal crest that extends to at least 150 meters depth. Based on electromagnetic measurements, the company estimates that the zone continues into a swampy area, where further investigations can only proceed during winter when the ground is frozen.

Figure 1: Location map of the starting points of drill holes from the 2025 exploration drilling program in relation to the electromagnetic anomaly (pink). Drilling and outcrop sample results support the theory that gold occurs within the electromagnetic anomaly zone.

Figure 2: A broader map of the electromagnetic area, showing the current research activities within the outlined square. Based on the map, extensive electromagnetic anomalies are present along a V-shaped zone approximately 7 km in length.

“Gold-bearing outcrop samples, electromagnetic anomalies, and high-grade gold drilling results are primarily located in the same areas. This suggests that future drilling programs could potentially be planned using data obtained from outcrop sampling and electromagnetic surveys. Based on the results, Ukkolanvaara has high gold potential, and the prospective area is extensive covering approximately 25 km²,” says CEO Kari Vyhtinen.

New drill results further confirm the gold potential of the Ukko deposit

Endomines launched a drilling campaign at Ukkolanvaara in the summer of 2025 and reported initial results in stock exchange releases dated May 28 and June 27, 2025.

The company has now completed a total of 22 drill holes at the Ukko deposit, with analysis results available for 17 of them. Additionally, Endomines has extended drill hole UKKO-003 deeper to assess the deposit’s extent and potential at greater depths.

Key highlights from the latest drilling campaign results at the Ukko deposit

• Drill hole UKKO-016 intersected 6.20 m with a grade of 2.93 g/t gold from 80.90 m
  • Including 1.10 m with a grade of 9.36 g/t gold from 80.90 m
• Drill hole UKKO-016 intersected 5.45 m with a grade of 2.88 g/t gold from 93.25 m
• Drill hole UKKO-009 intersected 4.55 m with a grade of 1.94 g/t gold from 178.25 m
  • Including 1.00 m with a grade of 5.44 g/t gold from 179.10 m
• Drill hole UKKO-012 intersected 5.60 m with a grade of 1.16 g/t gold from 117.90 m
  • Including 1.10 m pitoisuudella 2.72 g/t gold from 117.90 m

Complete gold bearing results of the drill hole UKKO-003 after extension:

• Drill hole UKKO-003 intersected 1.05 m with a grade of 1.27 g/t gold from 154.30 m
• Drill hole UKKO-003 intersected 12.25 m with a grade of 0.77 g/t gold from 232.60 m
  • Including 2.00 m with a grade of 2.58 g/t kultaa alkaen 232.60 m
• Drill hole UKKO-003 intersected 1.20 m with a grade of 1.86 g/t gold from 238.05 m
• Drill hole UKKO-003 intersected 9.10 m with a grade of 4.72 g/t gold from 250.00 m
  • Including 0.85 m with a grade of 17.90 g/t kultaa alkaen 255.55 m
• Drill hole UKKO-003 intersected 1.80 m with a grade of 4.17 g/t gold from 279.00 m
• Drill hole UKKO-003 intersected 1.20 m with a grade of 0.54 g/t gold from 355.35 m
• Drill hole UKKO-003 intersected 0.95 m with a grade of 1.52 g/t gold from 414.10 m

“Ukkolanvaara is now our primary exploration target for the 2025 campaigns, which include drilling, till sampling, geophysical surveys, and geological mapping. However, other significant BIF-type formations also exist along the Karelia Gold Line, whose gold potential remains unexplored. Therefore, we have decided to double the number of drillings along the Karelia Gold Line starting mid-September. This ensures that all gold-prospective targets along the Karelia Gold Line progress on schedule – and that we are proceeding at Ukkolanvaara with full speed,” says Kari Vyhtinen.

Significant outcrop sample results are presented in Appendix 1, and notable intercepts from the Ukko drilling program are shown in Appendix 2. The locations of outcrop samples are provided in Appendix 3, and drill hole locations in Appendix 4.

Geology of Ukkolanvaara

At Ukkolanvaara the most intense gold mineralization has been observed within tightly folded iron formation (BIF, Banded Iron Formation) where pyrrhotite replaces magnetite bands. To date, visible gold grains have been observed in ten drill holes at Ukkolanvaara (UKKO-001, UKKO-002, UKKO-003, UKKO-005, UKKO-006, UKKO-009, UKKO-015, UKKO-016, UKKO-020 & UKKO-021). The alteration halo around the gold mineralization includes chlorite, carbonates, green micas and iron sulphides chiefly pyrrhotite.

BIF-type gold mineralizations have also been found in other Archean greenstone belts, such as those in Australia and Canada.

Bedrock sampling, drilling technology and quality assurance  

Bedrock samples were collected from outcrops, mostly detached using a rock hammer and packed in plastic bags labeled with sample IDs. Each sampling site was geolocated using Endomines’ handheld GPS device. Samples were logged by Endomines geologists and sent for analysis to Eurofins Labtium in Sodankylä, where they were prepared and analyzed using methods 705P (gold) and 304PM1 (multi-element).

Surface drilling was carried out by MK Core Drilling Oy, using WL-76 tubes, resulting in a core of 57.5 mm in diameter. Drill hole locations will be surveyed after completion of the drilling program. All coordinates and maps presented in this release reflect planned coordinates. A downhole survey of bearing and dip deviations has been completed with the DeviFlex survey tool. All cores have been oriented with the Reflex ACT3 equipment.

The drill cores were logged by Endomines personnel. The drill cores were cut in half by Palsatech Oy in Kemi before analyses. Samples were prepared at CRS Laboratories Oy in Kempele (method PRP-929) and analyzed at MS Analytical in Canada using methods FAS-111 (gold) and IMS-230 (multi-element). Samples with gold concentrations exceeding 10 g/t were re-analyzed using method FAS-415.

All samples underwent standard QA/QC procedures, including the use of certified reference materials, blanks, and duplicates. Sample preparation, safety, and chemical analyses meet or exceed current industry standards and JORC code requirements.

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 Technical Officer  
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.