Endomines AB

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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.

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SUMMARY OF YEAR-END REPORT 2016

Fri, Feb 17, 2017 08:55 CET

The selective mining strategy has contributed to improved EBITDA and a reduced Cash Cost below the prevailing gold priceThe full report, in Swedish only, is available on the Company´s website, www.endomines.com Highlights Q4/2016 (vs Q4/2015) · Head grade was 3.1 g/t (1.7) · EBITDA was 1.5 MSEK (-14.5) · Gold production was 109.8 kg (118.5), -7 % · Revenues were 37.5 MSEK (28.3), +33% · Cash cost was 1,060 USD/oz (1,202) · Assets were written down by 56.5 MSEK (31.6) · Profit after tax was -84.5 MSEK (-85.5) · Earnings per share amounted to -8.05 SEK (-13.52)

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SUMMARY OF YEAR-END REPORT 2016