Endomines Ore Reserve and Resource Estimate update

Endomines announces 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 status as of 30 November 2017.

Table. Ore reserves and resources:
Note: For the tables presenting the gold ore reserves and mineral resources along the Karelian Gold Line, see the pdf version of this announcement or the Company web site at

In the Pampalo underground mine, reserves as at 30 November 2017 were 223,215t. This represents an increase of 63,215t since the year-end 2016, despite 161,080t of reserves having been mined out during the current year.

The presented resources and reserves data includes results from the underground drilling campaign carried out in 2017 and targeting areas below the current production levels in Pampalo. Due to the focus of the drilling in the Pampalo deep extension, the resources increased mainly in areas below the current production levels, and there are no notable changes in the resources of other deposits. . In total, approximately 15,900m were drilled in 2017.

This statement has been controlled by Eurogeologist Jani Rautio MSc (Geol) acting as a Qualified Person in compliance with Fennoscandian Review Board –standards. Jani Rautio is a full-time employee of Endomines. 

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 Securities Market Act. The information was submitted for publication, through the agency of the contact person set out above, at 08: 45 CET on 28 December 2017.

About Endomines 
Endomines AB is a mining and exploration company with its primary focus on gold. The Company operates a gold mine in Pampalo and has exploration activities more broadly along the Karelian Gold Line in Eastern Finland. 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 Company’s shares trade on Nasdaq Stockholm (ENDO) and Nasdaq Helsinki (ENDOM).


About Us

Endomines consists of the parent company, Endomines AB, with two wholly owned subsidiaries: Endomines Oy and Kalvinit Oy. The operations of Endomines Oy include exploration and development of gold deposits and planned gold mining. Kalvinit Oy is focused on the development of the industrial mineral ilmenite deposits. The Company’s present mineral deposits are all located in Finland. The Company acquired all shares outstanding in the two subsidiaries, Endomines Oy and Kalvinit Oy, through a non-cash issue. These subsidiaries were founded in the mid-1990s and have been financed by private individuals and Finnish institutions since inception.



Documents & Links